Arjuna, Gudhi Padwa means beginning of Marathi new year. In Maharashtra state people build the Gudi in front of their houses with bamboo by decorating it with cloth, flowers, neem leaves, pot, sugar candy and worship it and welcome the New Year. In the taxation, the bamboo means GST as it is the base of Indirect tax system. Our finance minister has tried to build the Gudhi of state through state budget. Let us discuss about that.
Arjuna, the month of March is very important for all Taxpayers. In our Country, the Financial Year April to March is applicable for all Tax Laws. That’s why Books of Accounts are made for the period of April to March. In Budget 2017 Stringent provisions relating to filing of Income Tax Returns have been made.
Arjuna, This year the Budget suggests certain changes relating to Income tax. One of the important changes among that is Long Term Capital Gain on equity shars or equity oriented mutual funds.
Valentine’s Day (14th February) is the perfect time to express your love in the most extraordinary way. While expressing love and affection to our beloved ones we carry out certain transaction of give and take, are they taxable?
Arjuna, In this year, main focus was on Direct taxes rather than indirect taxes. The government has suggested certain changes in the income tax rate and deductions from the total income. In this budget, the government has focused on deduction provisions in case of senior citizen.
The e-way bill once generated cannot be edited or modified. In such a situation, e-way bill generated with wrong information has to be cancelled and generated afresh again. The cancellation is required to be done within twenty-four hours from the time of generation.
Krishna,now there is fever of E-way Bill in the GST. So, what is the situation of taxpayers at this moment?
E-way bill is an electronic document generated on the GST portal evidencing movement of goods. The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January, 2018 i.e, from tomorrow and from the 1st February the implementation of nationwide e-way Bill system for interstate supply will be done on a compulsory basis. Therefore, the Sankrant will come on Consignor, Consignee and transporter.
Krishna, the festival of Makar Sankranti has arrived. Small children have started to fly kites. Even the Government is also trying to fly the kite of GST from last six months. So what would you like to tell about that?
Arjuna, every year government brings various changes in the laws. But in the year 2017 it has bought new laws. In financial laws GST, Real Estate Regulation Act, etc. has been brought. Due to these new laws a large impact is seen and will be seen in the financial world. So today we will discuss on the new laws of 2017 and its impact in 2018.
