Widening of tax base remains one of the important policy objectives of CBDT. Various steps have been taken to increase the tax base and the same have shown appreciable results. It is quite encouraging to note that almost 91 Iakh new taxpayers were added during FY 2016-17.
Where the impugned amount is not claimed by the assessee by way of deduction under sections 30 to 38 of the Act while computing the income of the assessee under the head Profits and gains of business or profession the question of making any dis allowance under section 40(a)(ia) of the Act will not arise
An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the State of Madhya Pradesh and the matters connected therewith or incidental thereto
S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends Chapter Notes and Import Policy and Policy Conditions of items of Chapter 98 as under
G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.2/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 674(E), dated the 28th June, 2017
G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28th June, 2017
I am an existing taxpayer registered under Excise, Service Tax and State Tax Laws such as VAT, Entry Tax, Luxury Tax and Entertainment Tax. I received SMS/ E-Mail with Provisional ID and Password. What are next steps for me? How do I begin to enrol with the GST Portal with Provisional ID and Password?
Tax ability of Ocean Freight services provided by Foreign Shipping Line to Foreign Exporter (Import on FOB contracts) has been a matter of debate since the Budget of 2016. Let us see the timeline, of how things went bad to ugly over the recent times. The Finance Act, 2016 made Ocean Freight Services involving any […]
Aggregate Turnover: total value of (Taxable supplies + exempt supplies + export of goods and services + inter-state supplies) in a Financial Year. Since Composition Taxable person cannot make inter-state supply, value of inter-state supply has to be Zero in case of such Taxable person. Further, for determination of aggregate turnover, the tax paid under GST law is not to be included.
I get reminded of previous generation mom when someone advises me to re balance my investment portfolio. I feel like my mom telling me to take oil bath on all Fridays. When everything is going fine, why I should re balance my portfolio? one of my client asked me with a smile in his face. I reciprocated his smile and explained him why it is necessary to re balance his portfolio periodically.
