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The last date to file income tax return for the assessment year 17-18 was 31 July, 2017. However, the due date for filing the income tax return extended to 5th of August, 2017 by the government. In fact, the income tax return filing within the deadline is very crucial especially for the Financial Year 2016-2017 in […]
What will be the GST implication if a manufacturer were to deliver goods by road to the customers using his own vehicle and charges freight in his bill that freight will be part of value of goods and GST payable on total value at same rate as of goods
GST (Goods & Services Tax), a single unified tax system aims at uniting Indias complex taxation structure to a One Nation- One Tax regime. It is the biggest tax reform since India’s independence.
But with the introduction of the GST in India, it is going to change the commercial tax scenario prevailing in the fishing sector. Stakeholder are of the view that it is will hit hard. Almost all the items related to fisheries sector are subject to GST.
We conducted a Performance Audit on levy & collection of Service Tax on Entertainment Sector, to seek an assurance regarding adequacy of Service Tax rules and regulations relating to entertainment sector and systems in place to ensure compliance to the same. The. audit was conducted in 17 selected. Commissionerates, including one division and one range in each. Commissionerates and examination of records relating to 307 assessees. The audit covered the three years period from 2013-14. to 2015-16.
Several companies that were having large profit from business and distributing substantial portion of the income to their shareholders as dividend, were reducing their tax liability by availing various deductions and exemptions available in the Act.
Keerthi Estates (P) Ltd. Vs. DCIT (ITAT Hyderabad) The assessee has paid compounding fine to regularize the building plan. The payment of such compounding fine is penalty in the nature of an offence or which is prohibited by law. We have noticed that the decision on this count is divided among the various courts. The […]
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India’s economic history over the past 70 years has been marked by several critical milestones amongst which are the crisis years of 1966, 1981 and 1991 and Indias emergence from the economic crisis as the fastest growing major economy of the world.
The progress of a country is closely linked to the efficiency with which it transports its man and material. A good transport system aids economic growth by providing essential connectivity between available resources, centres of production and the market.