"06 August 2017" Archive

How to Activate Your PAN If It Has Been Deactivated

Persons to whom PAN under new series has already been allotted shall not apply for such number again. No person who has already been allotted a PAN under the new series shall apply, obtain or possess another PAN....

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Posted Under: Income Tax |

Highlights of 20th GST Council Meet

After approx a month post GST implementation, 20th GST council Meeting headed by union Finance Minister Arun jaitley, came up with following changes. Let’s have a quick look towards highlights of 20th GST council meet: Lowering the rate   Earlier Now Job work of all kinds of textiles 18% 5% Tractor parts 28% 18% Work […]...

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Posted Under: Income Tax |

All about Imports and Exports under Goods & Services Tax Act (GST)

Exporters are witnessing sea changes as regards export rules under the existing GST regime as compared to the earlier regime of indirect taxation in India. Particularly the traders and the provider of export services are facing difficulties in filing bonds and Letter of undertaking before making exports. Even the general meaning of export...

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Posted Under: Income Tax | ,

Subsidy a capital or revenue expense: Recent decision of Delhi HC in Bhushan Steel

The government would introduce a scheme to provide a subsidy for advancing the development of industries mainly in backwards areas. The assistance was provided primarily for recouping the assessee on the expenditure incurred for the establishment of the industry. ...

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Posted Under: Income Tax |

GST, Excise, Service Tax, Customs & VAT updates for July 2017

Article explains Indirect Taxes Updates on GST, Customs, Excise, Service Tax & VAT for the Month - July 2017 (as updated upto 05th August 2017)...

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Posted Under: Income Tax |

Why you’ll never become RICH so long as you don’t follow this? A very obvious but much neglected money management code

It’s a fact of life that, if you don’t follow this simple and very obvious money management code, you will never ever become rich. Don’t let the negligence to follow this, keep you from becoming rich. To become profitable and stay profitable, the bigger organizations always look at cost cutting methods. They cut a part […]...

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Posted Under: Income Tax |

Get Richer by avoiding this Money Mistake

Mental Accounting is one such money mistake even smart people are committing. Understanding this mistake and avoiding this could make us richer. Behavioral Finance experts say that mental accounting works this way: Let us say you have bought a Rs.200 ticket to a movie. When you show up at the entrance of the theater and […]...

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Posted Under: Income Tax |

GST West Delhi Commissionerate launches Its own Website

DO. NO. 21/CH(EC)/2017 (04/08/2017)

The GST West Delhi Commissionerate has come up with its own website. I have seen the website and am impressed, as it is a one stop information centre for the assessees. My heartiest congratulations to the Commissioner GST, West Delhi and her team of officers for coming up with such a utilitarian website...

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Margin Scheme in GST- All You wanted to Know

Normally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing is such goods may be allowed to pay tax on the margin i.e. the difference between the value at which the goods are supplied and the price at which the goods are purchased. If […]...

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Posted Under: Income Tax |

Certification Course for GST Practitioners by MSME

The Course aims to facilitate the Graduating students, members in industry as well in practice by: Providing specialized and updated knowledge in the area of GST in a systematic manner. Enhancing analytical and problem solving skills for decision making. Employable skill for Industry and self employment...

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Posted Under: Income Tax | ,
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