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Pavan Jayaprakash

Latest Posts by Pavan Jayaprakash

COVID-19 GST Impact

April 27, 2020 8079 Views 0 comment Print

The outbreak of Coronavirus has caused a significant impact on day to day living of the common man, government coffers, and business operations. Though lockdown remains the only way to slow the spread, it will also continue to push economic operations to the brink. We have outlined the GST impact due to the Coronavirus pandemic […]

Karnataka extends Due dates of Professional Tax, VAT, KTEG & Sales tax

April 17, 2020 86175 Views 9 comments Print

Karnataka – Extension of Due dates for matters concerning Professional Tax, VAT, KTEG and Sales tax Due to the Pandemic Covid-19 outbreak and subsequent lockdown nationwide causing difficulties to various taxpayers adhering to the provisions of tax laws.  The Karnataka Government extends certain due dates concerning payment of taxes, filing of appeals and concluding assessment […]

Covid-19: Financial Assistance by SIDBI to MSME’s

April 16, 2020 1368 Views 0 comment Print

Financials Assistance by SIDBI Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing, and development of Micro, Small Enterprises and Medium Enterprises(MSMEs), has launched SAFE (SIDBI Assistance to Facilitate Emergency response against Corona Virus) scheme. It is a financial assistance program for MSEs which are engaged in the […]

GST Due dates for the period April to June’20

April 16, 2020 14682 Views 1 comment Print

The World economy is extended to take a major step back with the advent of Coronavirus outbreak. The Indian Government has been taking practice steps to address the issues concerning the citizens and businesses.  On 24th March 2020, the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman announced important relief measures on statutory and […]

Decoding 80IBA: 100% tax deduction for affordable housing project

March 13, 2020 70975 Views 14 comments Print

To make purchase of house affordable and give tax incentives to Real Estate Developers Government in the current Union Budget 2016, have announced 100% deduction of the profits and gains derived from construction business, by insertion of new section 80 IBA of Income Tax Act, 1961. Following are the conditions under the scheme:

GST Impact on supply of used car

December 3, 2019 51771 Views 9 comments Print

Article explains GST on sale of second hand Car, Conditions to be satisfied for levy of GST on sale of second hand Car, Frequently Asked Questions related to GST on sale of used car and Illustration of GST on sale of used car.

Karasamadha Scheme, 2019 – Waiver of 100% Penalty & Interest

February 21, 2019 29166 Views 5 comments Print

The Hon’ble Chief Minister for the Statement of Karnataka has announced a comprehensive Karasamadha Scheme which provides for 100% waiver of interest and penalties under the following Acts:

GST for Charitable Trust – Complete Analysis

January 12, 2019 49995 Views 4 comments Print

Introduction  Charitable Trust, for a layman is hub of noble deeds totally outside the purview of taxation. But what’s totally outside the tea cup of layman is the term taxation & hence a layman’s understanding on tax implications of charitable trust is heading towards misconceptions in its entirety. The most potent simplified classification of Indian […]

Startup India! Whats there for startups in Union Budget?

March 6, 2016 7231 Views 0 comment Print

With the ever changing face of technology and networking, Startup is no more a buzz word in India. The young generation is ready to go lengths and risk their career map to ideate a startup.

Service tax on Amusement Parks and Entertainment events

June 13, 2015 32762 Views 7 comments Print

Service Tax shall be levied on the service provided by way of access to amusement facility providing fun or recreation by means of rides, gaming devices or bowling alleys in amusement parks, amusement arcades, water parks and theme parks.

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May 2024