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!
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!
Notification No. 14/2019 – Central Tax- Seeks to supersede notification No. 08/2017 – Central Tax dated 27.06.2017 in order to extend the limit of threshold of aggregate turnover for availing Composition Scheme u/s 10 of the CGST Act, 2017 to Rs. 1.5 crores. Threshold Limit Composition Scheme (Effective from 1st April, 2019) Threshold Limit for […]
Notification No. 13/2019 – Central Tax Seeks to prescribe the due dates for furnishing of FORM GSTR-3B for the months of April, May and June, 2019. Last date for GSTR-3B- The return in FORM GSTR-3B of the CGST Rules, 2017 for each of the months from April, 2019 to June, 2019, shall be furnishedOn or […]
Notification No. 12/2019 — Central Tax– Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than Rs. 1.5 crores for the months of April, May and June, 2019. Last Date for GSTR-1- The time limit for furnishing the details of outward supplies in FORM GSTR-1 […]
Notification No. 11/2019 – Central Tax– Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover upto Rs. 1.5 crores for the months of April, May and June, 2019. Special procedure for Statement of outward supplies ( GSTR-1) for Small taxpayers-Time Period for filing GSTR-1 for Registered persons […]
Notification No. 10/2019-Central Tax dated 7th March, 2019 Threshold limit for registration (For those engaged in exclusive supply of goods Enhanced to Rs. 40 lacs – Except persons engaged in making intra-State supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, Uttarakhand – Except persons required to take compulsory […]
Notification No. 2/2019-Central Tax (Rate) To give composition scheme for supplier of services with a tax rate of 6% having annual turn over in preceding year upto Rs 50 lakhs.
To give exemption from registration for any person engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed Rs 40 lakh vide Notification No. 2/2019- Union Territory Tax Dated 7th March, 2019. Government of India Ministry of Finance (Department of Revenue) Notification No. 2/2019- Union Territory Tax New […]
It has been noticed that there are several promotional schemes which are offered by taxable persons to increase sales volume and to attract new customers for their products. Some of these schemes have been examined and clarification on the aspects of taxability, valuation, availability or otherwise of Input Tax Credit in the hands of the supplier in relation to the said schemes are detailed hereunder:
CBIC notifies composition scheme for supplier of services with a tax rate of 6% having annual turn over in preceding year upto Rs 50 lakhs vide Notification No. 2/2019- Union Territory Tax (Rate) dated 7th March, 2019.
According to statistics by the Institute of Chartered Accountants of India (ICAI), over 50% of chartered accountants who were surveyed feel that technologies like big data and artificial intelligence are going to change the course of the profession in the coming years. However, one in every two also shared that the costs involved in procuring […]
