"25 May 2017" Archive - Page 2

New GST Rates Vs Old Indirect Tax (Excise, Service Tax & VAT)

Analysis of proposed GST Rates Vs existing rates is going on by different trades and industry. There may be little variation in different states due to difference in VAT rates. GST rates are yet to be notified and may undergo changes, before the notification is issued. However, a general comparison is as under:...

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Taxability under GST on Transportation of Goods or Passengers

Through GTA (Specific goods like agricultural produce, relief materials, defence or military equipments, milk, salt etc. (Exempt)) Other than above through GTA (5% - No ITC)...

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All New Valuation Rules Under GST- Determination Of Value Of Supply

Since the all new GST (a biggest tax reform) is going to roll out soon, there are various questions floating in our minds, the most important among them is how to determine value of supply under GST? What is to be included in the value of taxable supply on which the GST will be calculated? […]...

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Income Tax Department Steps-up against Benami property holders

Income-tax Directorates of Investigation have identified more than 400 benami transactions up to 23 May, 2017. These include deposits in bank accounts, plots of land, flat and jewellery. Provisional attachment of properties under the Act has been done in more than 240 cases....

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Cabinet approves phasing out FIPB

With FIPB getting abolished, it is expected that foreign investment proposals will be considered by the concerned ministry in consultation with the DIPP. Towards this end it is hoped that DIPP comes out with clear guidelines and operating procedures defining the parameters that should be considered for clearance of proposals. This would i...

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Tax Invoice, Credit and Debit Notes under GST (as on 18 May 2017)

Articles gives details of Tax Invoice, Credit and Debit Notes under GST to be issued and Time limit within which such documents shall be issued...

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September 2021