"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 |

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 |

13 Decisions taken on Services at 20th GST Council Meeting

Job work services in respect of the textiles and textile products (including MMF yarn, garments, made-ups, etc. falling in Chapters 50 to 63). Services by way of printing of newspapers, books (including Braille books), journals and periodicals where only content is supplied by the publisher and the physical inputs including paper used fo...

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Posted Under: Income Tax |

Implication of Non-filing of Annual Forms: Companies Amendment Bill, 2017

it proposed in the bill that the Company can file such form subject to additional fees of Rs. 100/- per day”. Here the questions are; If a Company has not filed Annual forms for the f.y. 2014-15 , 2015-16 or any previous financial year then whether fees shall be applicable as Rs. 100 per day or 2 times, 4 times as per Companies Act, 20...

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Posted Under: Income Tax |
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