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Archive: 15 June 2017

Posts in 15 June 2017

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 24, 2024 6573 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4893 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Composition Scheme under GST with examples

June 15, 2017 91266 Views 32 comments Print

Compliances in the GST Law are very high which cannot be complied by the small dealer, small manufacturer and small service provider. For the purpose of above mentioned persons, composition scheme has been prepared. Generally in every law composition scheme is there such as VAT, Excise etc.

Time of Supply in GST

June 15, 2017 6246 Views 0 comment Print

Time of supply is that event in which month liability to pay tax arise. In the absence of same law may be void.

Draft Notification on foreign company resident in India U/s. 115JH

June 15, 2017 1728 Views 0 comment Print

CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961

List of 89 items having Reduced Tax Liabilities under GST regime

June 15, 2017 3213 Views 0 comment Print

In a majority of supplies of goods, the tax incidence approved by the GST Council is much lower than the present combined indirect tax rates levied [on account of central excise duty rates / embedded central excise duty rates / service tax post-clearance embedding, VAT rates or weighted average VAT rates, cascading of VAT over excise duty and tax incidence on account of CST, Octroi, Entry Tax, etc.] by the Centre and States.

Reduced Liability of Tax on complex, building, flat etc. under GST

June 15, 2017 7002 Views 3 comments Print

1. Construction of flats, complex, buildings will have a lower incidence of GST as compared to a plethora of central and state indirect taxes suffered by them under the existing regime.

Agenda of 17th GST Council Meeting to be held on 18th June, 2017

June 15, 2017 3042 Views 0 comment Print

Main agenda items of the 17th GST Council Meeting include confirmation of the minutes of the 16th GST Council meeting held on 11th June, 2017, approval of draft GST Rules and related Forms for (i) Advance Ruling, (ii) Appeals and Revision, (iii) Assessment and Audit, (iv) E-Way Bill & (v) Anti-Profiteering, and Fitment/adjustment of GST Rates on certain items among others.

Maharashtra Goods and Services Tax Act, 2017

June 15, 2017 19680 Views 0 comment Print

In pursuance of clause (3) of article 348 of Constitution of India, following translation in English of Maharashtra Goods and Services Tax Act, 2017 (Mah. Act No. XLIII of 2017), is hereby published under authority of Governor.

Interest and Dividend reporting under Income Tax of Custodial A/cs

June 15, 2017 942 Views 0 comment Print

In terms of Rule 114G(1)(e)(i) of Income Tax Rules, 1962 issued under Section 285BA of Income Tax Act, 1961 following information is required to be reported by reporting financial institution in the case of reportable custodial account:-

ITAT cannot allow AO to cover up the deficiency in its case

June 15, 2017 1821 Views 0 comment Print

it is a very settled position that the power of ITAT in setting aside cannot be exercised so as to allow Assessing Officer to cover up the deficiency in its case.

A Personal Finance Checklist for Newlyweds

June 15, 2017 2028 Views 0 comment Print

Getting married is one of the most important events in your life. There is so much to consider—the flowers, the jewel, the dress, the venue, the photography—the list goes on. Once you are back from the honeymoon, the daily life of marriage begins and also begins the challenges of managing the finances of a new household with your spouse.

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