Arjuna, the confusion of whether GST is payable under RCM on Director’s remuneration has raised due to the recent order passed by Authority of Advance Ruling (AAR) of Rajasthan in the case of Clay Craft India Pvt Ltd, & AAR of Karnataka in the case of Alcon Consulting Engineers (India) Pvt Ltd. These advance rulings state that remuneration paid to the Director of the applicant company is liable to tax under reverse charge mechanism. Let’s discuss about this in detail.
The government has thus provided various relief measures to curb the issues faced by taxpayers as discussed in the previous article as per press release. What additional relief measures has the government announced on 03.4.2020 by amending law?
Krishna, The government, considering the sufferings of businessmen throughout the country due to CORONA , has provided relief amidst such outbreak. What is the relief provided?
In this article I have tried to compile some major technical glitches, errors, issues in GSTN. Hope few of them may be the reason why Mr. Nielkani was called for and to resolve them in time.
COVID-19 virus is indeed a big epidemic. But 31st March also a very important deadline which cannot be ignored at all. Inspite of the widespread of the Corona Virus, the government has not yet extended the due dates for tasks which are to be wrapped up before 31st March 2020.
The taxpayers have to take care to follow all the Tax laws at year end and has to maintain his books of accounts. Tax planning in advance will be more beneficial; if it is delayed then taxpayer may get trapped. For a taxpayer, the March 31 deadline remains same as all tax related tasks need to be completed by then. Let’s learn about some tax-related matters to attend to now so that they can be wrapped up by March 31, 2020.
This year the tax department is also ready to play different types of holi with the taxpayers, of which the Income Tax department will be playing the Floral holi (Foolonki holi) and the GST department will be playing Latthmar Holi. Lets discuss about it in detail.
Krishna, Currently the T-20 Cricket World Cup is on. Dhoni’s stumping in the India v/s Bangladesh match is all over the news. The Financial Year’s end, i.e. March end has arrived. Keeping this in mind, what should the taxpayers do, so that he will not get stumped?
In the Union Budget 2020 it is proposed to widen the provisions for levy of TCS (Tax Collected at Source). The foreign tour operator will be liable to collect tax (TCS) u/s 206C (1G) from the passenger of such tour package @5% (@10% if PAN/Aadhar of passenger is not available) over and above the cost of his tour package.
Krishna, just a few days are left for the end of due date of filing returns for financial year 2018-19 i.e AY 2019-20 . Some lethargic tax payers are in hurry for filing their Income tax return for Financial Year 2018-19, but the due date of filing the return is July or September. How many previous years’ Income Tax returns can be filed?
