Learn about revised TCS rates on foreign remittance effective October 1, 2023. Discover what expenditures are affected, exemptions, and key details.
Stay informed about the latest developments as CBIC simplifies procedures for E-commerce Operators dealing with Composition Taxpayers and Unregistered Persons. Discover the key highlights and compliance measures introduced in Notifications No. 36/2023-Central Tax and No. 37/2023-Central Tax. Effective from October 01, 2023, these changes aim to streamline processes and enhance transparency.
Under Rule 88D, the GST portal will now compare the ITC available in GSTR-2B with the ITC availed in GSTR-3B. If the ITC availed in GSTR-3B exceeds the ITC available in GSTR-2B by the prescribed amount and percentage recommended by the council, the taxpayer will receive an electronic intimation of the difference through Part A of Form DRC-01C. The taxpayer will also receive a copy of the intimation via email.
Get simplified insights into the clarification on Circular No. 193/05/2023-GST (17th July 2023). Understand the treatment of differences in Input Tax Credit (ITC) availed in GSTR-3B compared to GSTR-2A for the period 01.04.2019 to 31.12.2021. Learn about the applicable rules, percentages, and examples to navigate these GST updates effectively.
The dividend income received by non-resident individuals, including Foreign Portfolio Investors (FPIs) and Non-Resident Indian citizens (NRIs), is taxable at a rate of 20% without any deductions under the Income-tax Act.
As F.Y 2022-23 concludes, grasp crucial GST points: LUT renewal, Composition Scheme, QRMP option, ITC reconciliation, turnover review, and supplier compliance checks. Get detailed insights now.
Discover how the GST Council has recommended a one-time amnesty scheme and rationalisation of late fees for annual GST returns up to Rs 5 Crores. Learn more now
Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House if an assessee with in period of one year or two years after the date on which transfer took place purchased any residential property or with period of three years after that date constructed any residential property in India Irrespective of any threshold limit.
Taxpayers can learn more about Amendment in Section 44AD & 44ADA in this post. Get info on gross turnover, minimum taxable sum, digital transactions & more
Section 10- Composition Levy – Suppliers of goods through E-commerce operators will now be eligible to opt for the composition scheme- Now Unregistered suppliers and composition taxpayers can now opt for the composition scheme to make intra -state supply of goods through e-commerce operators ,subject to certain conditions.
