icon
Have any questions?
contact@sw-india.com

Articles

Stay up to date with the latest news and information of​ ShineWing India

by shinewingindia
June 16, 2021

Rate of Withholding Tax on Dividends Paid to Non-residents

In the recent judgement of Hon’ble Delhi...
Continue →
by shinewingindia
June 15, 2021

44th GST Council Meeting dated 12-06-2021

Press release on revised GST Rates on go...
Continue →
by shinewingindia
June 14, 2021

National Programme on Advanced Chemistry Cell Battery Storage (NPACC)

Background: The Union Cabinet has app...
Continue →
by shinewingindia
June 14, 2021

FAME India Phase II

In the Scheme for FAME India Phase II {S...
Continue →
by shinewingindia
43rd GST Council Meeting dated 28-05-2021 – Proposals.
May 31, 2021

43rd GST Council Meeting dated 28-05-2021 – Proposals.

Part 3: Certain other COVID-19 related r...
Continue →
by shinewingindia
43rd GST Council Meeting dated 28-05-2021 – Proposals.
May 29, 2021

Part 2: 43rd GST Council Meeting dated 28-05-2021 – Proposals.

Part 2: Other important proposals Abo...
Continue →
by shinewingindia
43rd GST Council Meeting dated 28-05-2021 – Proposals.
May 29, 2021

43rd GST Council Meeting dated 28-05-2021 – Proposals.

Part 1: Late fees exemptions and revised...
Continue →
by shinewingindia
Guidelines Issued by CBIC for GST Officers Regarding Cancellation of Registration
May 29, 2021

Guidelines Issued by CBIC for GST Officers Regarding Cancellation of Registration

Rule 22 (3) of CGST Rules, 2017: Wher...
Continue →
by shinewingindia
Income Tax Alert: Linking of PAN and Aadhaar
May 29, 2021

Income Tax Alert: Linking of PAN and Aadhaar

As you are aware that the Government of ...
Continue →
by shinewingindia
May 26, 2021

Whether the Medicines, Consumables and Implants used in the course of providing health care services for diagnosis or treatment of patients being provided by the hospital is a ‘Composite Supply’?

Pre-Requisite Knowledge: In-patient h...
Continue →
by shinewingindia
Computation of Fair Market Value of Capital Assets for the purpose of section 50B of the Income-Tax Act
May 25, 2021

Computation of Fair Market Value of Capital Assets for the purpose of section 50B of the Income-Tax Act

Rule 11UAE of the Income Tax Rules,1962 ...
Continue →
by shinewingindia
Relaxation of time lines for various Income Tax Compliances
May 20, 2021

Relaxation of time lines for various Income Tax Compliances

Taking into consideration the hurdles fa...
Continue →
by shinewingindia
Whether Cold Storage services of tamarind inner pulp without shell and seeds is exempt or not?
May 11, 2021

Whether Cold Storage services of tamarind inner pulp without shell and seeds is exempt or not?

Facts of the Case: The applicant is a...
Continue →
by shinewingindia
Changes in TDS/TCS Provisions
May 4, 2021

Changes in TDS/TCS Provisions

Introduction: The Ministry of Finance...
Continue →
by shinewingindia
Uplifting of Prohibition on Oxygen Concentrator imported as gift– Amendment in Foreign Trade Policy 2015-2020
May 3, 2021

Uplifting of Prohibition on Oxygen Concentrator imported as gift– Amendment in Foreign Trade Policy 2015-2020

Existing Foreign Trade Policy (FTP): ...
Continue →
by shinewingindia
Relaxation on Levy of Additional Fees for Filing of Forms
May 3, 2021

Relaxation on Levy of Additional Fees for Filing of Forms

In view of the difficulties arising due ...
Continue →
by shinewingindia
Threshold for the Purpose of Significant Economic Presence
May 3, 2021

Threshold for the Purpose of Significant Economic Presence

The CBDT notified a new Rule 11UD under ...
Continue →
by shinewingindia
Extension of Time Gap Between Two Consecutive Board Meetings
May 3, 2021

Extension of Time Gap Between Two Consecutive Board Meetings

In view of the difficulties arising due ...
Continue →
by shinewingindia
With the outbreak of Covid-19, CBIC has extended certain due dates on 01.05.2021
May 3, 2021

With the outbreak of Covid-19, CBIC has extended certain due dates on 01.05.2021

With the outbreak of Covid-19, CBIC has ...
Continue →
by shinewingindia
Relief for Taxpayer – Extension of due dates for Income Tax Compliances
May 1, 2021

Relief for Taxpayer – Extension of due dates for Income Tax Compliances

In view of challenges faced by taxpayers...
Continue →
by shinewingindia
Whether supply of food from a different section of business could be considered as supply of goods, hence eligible for ITC? AAR
April 30, 2021

Whether supply of food from a different section of business could be considered as supply of goods, hence eligible for ITC? AAR

Facts of the Case: The applicant is i...
Continue →
by shinewingindia
LOWER WITHHOLDING TAX RATE ON DIVIDENDS AVAILABLE PURSUANT TO MFN CLAUSE IN CASE OF INDIA – NETHERLANDS DTAA
April 24, 2021

LOWER WITHHOLDING TAX RATE ON DIVIDENDS AVAILABLE PURSUANT TO MFN CLAUSE IN CASE OF INDIA – NETHERLANDS DTAA

Facts of the case In a recent case th...
Continue →
by shinewingindia
Press Release for Extension of Timelines
April 24, 2021

Press Release for Extension of Timelines

Vide press release dated 24th April, 202...
Continue →
by shinewingindia
Section 56(2)(viib) is not triggered on the excess consideration/asset received by the amalgamated company in lieu of issue of shares issued
April 23, 2021

Section 56(2)(viib) is not triggered on the excess consideration/asset received by the amalgamated company in lieu of issue of shares issued

Facts of the case: In the scheme of a...
Continue →
by shinewingindia
Union Cabinet approves PLI Scheme for High Efficiency Solar PV Modules
April 17, 2021

Union Cabinet approves PLI Scheme for High Efficiency Solar PV Modules

The Cabinet has approved implementation ...
Continue →
by shinewingindia
SETTING UP OF BUSINESS v/s COMMENCEMENT OF BUSINESS
April 14, 2021

SETTING UP OF BUSINESS v/s COMMENCEMENT OF BUSINESS

Facts of the case: The assessee “Miel...
Continue →
by shinewingindia
April 13, 2021

MAT credit of the transferee company can be carried forwarded and set-off against tax liability of amalgamated company

Facts of the case: The assessee being...
Continue →
by shinewingindia
April 10, 2021

Regulation notified for Identity verification of New/Existing Exporters, Importers and CHAs

CBIC has notified the Customs (Verificat...
Continue →
by shinewingindia
April 8, 2021

Union Cabinet approves PLI Scheme for Air Conditioners and LED lights

With an objective of creating a globally...
Continue →
by shinewingindia
April 7, 2021

Changes in CbCR Reporting Threshold Limit

The CBDT on 5th April, 2021 has notified...
Continue →
by shinewingindia
April 5, 2021

PLI scheme for Food Processing Industry gets Government’s Approval

Union Cabinet on March 31 approved a Rs ...
Continue →
by shinewingindia
April 3, 2021

Amendments to Income Tax Rules, 1962

Introduction: The CBDT in order to br...
Continue →
by shinewingindia
April 2, 2021

Rates of TDS/TCS w.e.f. 01.04.2021

The relaxation period of reduced rates o...
Continue →
by shinewingindia
April 2, 2021

Companies (Accounts) Amendment Rules, 2021.

The Ministry of Corporate Affairs (MCA),...
Continue →
by shinewingindia
Amendment in Schedule III of Companies Act, 2013.
March 26, 2021

New Disclosure Requirements for Financial Statement as per Schedule III of Companies Act, 2013

The Ministry of Corporate Affairs (MCA),...
Continue →
by shinewingindia
March 25, 2021

Companies (Accounts) Amendment Rules, 2021.

The Ministry of Corporate Affairs (MCA),...
Continue →
by shinewingindia
March 22, 2021

PAYMENT TO DRIVER PARTNERS OUT OF THE SCOPE OF TDS U/S 194C

Facts of the case: The assessee “UBER...
Continue →
by shinewingindia
March 19, 2021

Significant updates which would impact the Industry from April 1, 2021

Mentioning HSN code in Invoice now manda...
Continue →
by shinewingindia
March 18, 2021

Form 15E notified by CBDT for making Application for grant of Certificate to Determine sum Chargeable to Tax u/s 195

The CBDT on 16th March, 2021 has notifie...
Continue →
by shinewingindia
March 5, 2021

Payment for use of computer software does not constitute Royalty, thus not subject to withholding tax

In a recent decision of Supreme Court of...
Continue →
by Shine Wing
February 17, 2021

PLI scheme for Telecom Sector gets Government’s approval

The Government in November 2020 had anno...
Continue →
by Shine Wing
February 17, 2021

Amendment to Companies (Share Capital and Debentures) Rules, 2014

The Ministry of Corporate Affairs (MCA),...
Continue →
by Shine Wing
February 15, 2021

Importer-Exporter Code (IEC)

The Director-General of Foreign Trade (D...
Continue →
by Shine Wing
February 5, 2021

Amendment to Definition of a Small Company

The Ministry of Corporate Affairs (MCA),...
Continue →
by Shine Wing
January 29, 2021

Applicability of GST on Salary paid to Director of Company

Brief Facts of the case: The appellan...
Continue →
by Shine Wing
January 18, 2021

GST is applicable on Notice Pay Recovery from Employees

Brief Facts of the case: The applican...
Continue →
by Shine Wing
January 6, 2021

Introduction of Legal Entity Identifier for large value transactions of INR 50 crores or more in Centralized Payment System

With effect from April 1, 2021, The Rese...
Continue →
by Shine Wing
December 23, 2020

Amendment- Companies (Appointment and Qualification of Directors) Rules, 2014

Ministry of Corporate Affairs has made f...
Continue →
by Shine Wing
December 21, 2020

MCA amends applicability date of CARO, 2020

In view of COVID-19 pandemic, the Minist...
Continue →
by Shine Wing
December 5, 2020

Compulsory Convertible Debentures are to be considered as Debt and not as Equity

Facts of the Case: The assessee is en...
Continue →
by Shine Wing
December 3, 2020

Extension of Due Date for filing of Cost Audit Report

Ministry of Corporate Affairs (MCA) vide...
Continue →
by Shine Wing
December 1, 2020

Online filing of application for Un-blocking E-Way generation facility

Now online application can be filed for ...
Continue →
by Shine Wing
November 27, 2020

Blocking of E-Way generation facility after 1 December, 2020

Blocking of E-way bills (EWB) generation...
Continue →
by Shine Wing
November 10, 2020

MCA extends due date for inclusion of independent director’s name in data bank

Ministry of Corporate Affairs (MCA) vide...
Continue →
by Shine Wing
November 10, 2020

Defaulting LLP allowed to file belated documents due for filing till 30th Nov,2020

Ministry of Corporate Affairs (MCA) vide...
Continue →
by Shine Wing
November 2, 2020

Code on Social Security, 2020

Ease of labour regulations and uniformit...
Continue →
by Shine Wing
October 24, 2020

Relief for taxpayers – Extension of Due Dates for Filing of Income Tax Returns

In view of challenges faced by taxpayers...
Continue →
by Shine Wing
October 23, 2020

AO does not have power to change method for share valuation opted by assessee

Facts of the Case: The assessee is en...
Continue →
by Shine Wing
October 20, 2020

Tolerance Limit for Computation of ALP

Central Government vide Notification No....
Continue →
by shinewingindia
October 12, 2020

Blocking of E-Way generation facility after 15 October, 2020

Blocking of E-way bills (EWB) generation...
Continue →
by shinewingindia
October 9, 2020

Amended Provisions for Utilization of Foreign Contribution

The Foreign Contribution (Regulation) Am...
Continue →
by shinewingindia
October 6, 2020

Recommendations of 42nd GST Council Meeting Updates

Following are the recommendations discus...
Continue →
by shinewingindia
October 6, 2020

Clarifications on TDS Provisions for e-Commerce Operators

Introduction: There have been certain...
Continue →
by shinewingindia
October 5, 2020

Amendment of ITR and Other Forms for AY 2020-21

Introduction: CBDT in line with the n...
Continue →
by shinewingindia
October 3, 2020

Requirement of Licenses for Toys may arise from March

India could introduce a phased license r...
Continue →
by shinewingindia
October 3, 2020

No Scrip wise reporting for Short-Term Listed Shares

Background and Facts: There was a r...
Continue →
by shinewingindia
October 2, 2020

Extension of compliance deadlines till 31st March, 2021

On 31.03.2020, the President proclaimed ...
Continue →
by shinewingindia
September 26, 2020

Vodafone wins arbitration against India in International Court

Background and Facts: Revenue depar...
Continue →
by shinewingindia
September 26, 2020

Relief in Late Fees of Delay in Filing of Form GSTR-4/10 and Change of Navigation of Comparison of Liability and ITC Summary

Relief in Late fees for delayed in filin...
Continue →
by shinewingindia
September 26, 2020

Guidelines for Compulsory Selection of Return for Complete Scrutiny

Keeping in view the Faceless Assessment ...
Continue →
by shinewingindia
September 25, 2020

Expenditure on Software is of Revenue Nature

Background and Facts: Assessee comp...
Continue →
by shinewingindia
September 25, 2020

Accounting treatment of indirect administrative overheads incurred during construction phase of power plant

Expert Advisory Committee (EAC) of The I...
Continue →
by shinewingindia
September 25, 2020

No penalty if it was not mentioned in notice that assessee had concealed income or furnished inaccurate details

Facts of the Case: Assessee, a part...
Continue →
by shinewingindia
September 24, 2020

Corporate Social Responsibility & Improved Business Effectiveness

With the increasing awareness and educat...
Continue →
by shinewingindia
September 21, 2020

Delinking of Debit/Credit Note from Original Invoice Reported in GSTR-1/6 or Refund Filing

Much Awaited relief to the taxpayer!! ...
Continue →
by shinewingindia
September 19, 2020

Extension of Due Date for filing Cost Audit Report

In view of the extraordinary disruptions...
Continue →
by shinewingindia
September 17, 2020

Ceiling on MEIS benefits from 01.09.2020 to 31.12.2020

To ensure that the total claim under MEI...
Continue →
by shinewingindia
September 15, 2020

Strengthening the communications and relationships between Internal Auditor & Audit Committee

Internal audit has become an important t...
Continue →
by shinewingindia
September 12, 2020

Update Regarding Enabling GSTIN on E-Invoice Portal

As a facilitation measure, all the taxpa...
Continue →
by shinewingindia
September 11, 2020

Reimbursement of cost from Indian group concern for providing business support not taxable as FTS in India

Background and Facts Assessee, a De...
Continue →
by shinewingindia
September 10, 2020

TCS on Sales of Goods: Finance Act, 2020

Introduction: Provisions related to c...
Continue →
by shinewingindia
September 9, 2020

Company Law Insights || MCA extends due date for holding AGM for FY 19-20 by 3 months

Ministry of Corporate Affairs (MCA) vide...
Continue →
by shinewingindia
September 9, 2020

Conflicts of Interest

Conflicts of Interest arise when a perso...
Continue →
by shinewingindia
September 7, 2020

To Do’s in GST return of September 2020

Last chance to do following in GSTR-1 of...
Continue →
by shinewingindia
September 7, 2020

New functionality added for TCS & Composition taxpayers

Recently GST portal added new features. ...
Continue →
by shinewingindia
September 2, 2020

New Features added on GSTN portal

Recently new features have been added on...
Continue →
by shinewingindia
September 2, 2020

Extension of time limit for compliance by Anti-Profiteering Authorities

As per the notification no.65/2020-Centr...
Continue →
by shinewingindia
September 2, 2020

New Guidelines, New WAY! – Virtual Personal Hearings

CBIC introduced virtual hearing of adjud...
Continue →
by shinewingindia
September 1, 2020

CSR Policy amended to include R&D on Drugs, Vaccines for COVID-19

Ministry of Corporate Affairs (MCA) vide...
Continue →
by shinewingindia
September 1, 2020

Business Continuity Planning

Failure and disasters can happen, as the...
Continue →
by shinewingindia
August 27, 2020

Interest on GST liability for periods prior to September 01 2020 – Clarifies Ministry of Finance

Yesterday we published an update on the ...
Continue →
by shinewingindia
August 26, 2020

Aadhar Authentication Required Now for GST Registration

CBIC vide its Notification No. 62/2020–C...
Continue →
by shinewingindia
August 26, 2020

Interest on belated GST liability payments- Shall be payable only on “cash liabilities”

One of the most awaited notifications re...
Continue →
by shinewingindia
August 25, 2020

Artificial Intelligence (AI) aligned with Accounts Payable Process

With the emerging tough and competitive ...
Continue →
by shinewingindia
August 24, 2020

MCA Clarification on extension of AGM for F.Y ended 31st March,2020

Ministry of Corporate Affairs (MCA) vide...
Continue →
by shinewingindia
August 21, 2020

New facility added on GST portal-Option to download invoice wise detail of Table 8A of Form GSTR-9 (Annual return)

A new feature has been added on the GST ...
Continue →
by shinewingindia
August 21, 2020

Fourth Industrial Revolution (Industry 4.0)

Development in technology has no way lef...
Continue →
by shinewingindia
August 19, 2020

Green Internal Audit

“Green” is a definition of everything re...
Continue →
by shinewingindia
August 13, 2020

Transparent Taxation – Honouring the Honest

In the era of structural reforms, Indian...
Continue →
by shinewingindia
August 13, 2020

AO cannot change the method of Valuation of Shares opted by the Assessee

Facts of the Case: The assessee is ...
Continue →