Introduction
The Central Board of Indirect Taxes & Customs (“CBIC”) vide Notification No. 14/2020-Central Tax, amended by Notification No. 71/2020-Central Tax, mandated that the registered persons with an annual turnover of more than Rs.500 crore in any preceding FY (from 2017-18) are required to display Quick Response Code (“QR Code”) on their B2C invoices compulsorily from December 1 2020. Further, vide Notification No. 89/2020- Central Tax; dated November 29 2020, the penalty has been waived off for non-compliance with Notification No. 14/2020-Central Tax for the period from 1.12.2020, to 31.03.2021, subjected to the condition that said person complies with the said Notification from April 1, 2021.

Introduction

The Central Government shattered down on the cryptocurrency market in December 2017, making it a grey area in India. The RBI had placed a ban on banks from dealing in cryptocurrencies in April 2018, prohibiting them from buying/selling cryptocurrencies for INR through banks. Despite this, India ranks among the top five countries globally, having 44 per cent of the world's share. But so far, regulators have refrained from giving them legal or illegal status.

COVID-19 pandemic had hit the entire country and had forced individuals to stay wherever they are. Many individuals came on a visit to India but could not return to their home country due to suspension of international flights. The residential status of an individual, as to whether he is a resident in India or a non-resident or a not ordinarily resident, depends on his period of stay in India and which in-turn determines the scope of taxable income of such individual.

Introduction

A startup is defined as a company or project initiated by an entrepreneur to seek, develop, and validate a scalable business model. Entrepreneurship is referred to all new businesses, including self-employment and businesses that never intend to become registered, whereas a startup refer to the new business that intend to grow large beyond the solo founder.

The GST, like other sectors of the economy, has impacted the real estate sector and its aspects like sale, purchase, construction, rent, lease, etc. Further, several provisions were laid down for regulating GST on the rental income, such as place of supply, taxable services under GST, exception limits for GST in case of service etc.
The GST value is nothing but the number of rents received from an individual's commercial properties. The commercial rents received must be more than Rs. 20 lacs a year. The commercial rents less than Rs. 20 lacs a year shall not be based on GST.