Explore tax implications of online gaming in India under Finance Bill, 2023. Learn about new tax deductions and regulations for online gaming income....
Section 16(1) of CGST Act, 2017 provides that input tax shall be allowed on goods or services which are used or intended to be used in the course or furtherance of business. Further, Section 17(5) disallows credit on certain goods and services....
SECTIONS Section 68 – Inspection of Goods in Movement Section 122 – Penalty for Certain Offences Section 129 – Detention, Seizure and Release of Goods and Conveyance in Transit Section 130 – Confiscation of Goods or Conveyance and Levy of Penalty. RULES Rule 55A – Tax Invoice and Bill of Supply to Accompany Trans...
Webinar on Changes in ITR For AY 23-24, Burning Issues in Income Tax, International Tax & Interplay of Decisions in GST Topics to be covered – 1. Changes in ITR for AY 23-24 2. Global Minimum Tax: A step ahead – Update 3. Trusts and NPOs: Impact of Budget 2023 and Supreme Court’s Judgements on […]...
Finance Bill, 2023 as presented in Parliament on 1st February, 2023 has proposed many changes in CGST / IGST laws via clause 128 to 144 of the Finance Bill, 2023 Here is a brief overview of such proposed changes: MAJOR BUDGET (FINANCE BILL, 2023) PROPOSALS IN RELATION TO GOODS AND SERVICES TAX Composition Scheme for […]...
Composition Scheme now allowed to person making supply of GOODS through ecommerce operators who is required to collect TCS u/s 52....
AMENDMENTS RELEATING TO CGST ACT 2017 ♦ THE COMPOSITION SUPPLIER MAY SUPPLY GOODS THROUGH E-COMMERCE OPERATORS: [ SEC 10] → Section 10 of CGST Act, 2017, amended to remove restriction imposed on registered person suppling “goods” through E-commerce Operator from opting in for composition scheme. → √ Now registered Person suppl...
The Finance Bill 2023 is presented and many changes has been proposed in in Direct as well as indirect tax. Here I am presenting the extracts of the GST related Amendments proposed in the Finance Bill, 2023 (Budget 2023-24), presented by the Union MoF Mrs. Nirmala Sitharaman in the Loksabha on 01/02/2023. Amendments proposed in […]...
The Budget-2023 has nothing very important for GST though the expectations were there for an amnesty scheme plus some measures for Simplification of GST. Anyways what is proposed by the Hon. FM in the budget we have to study the same so let us try to understand what is there in the Budget-2023 with respect […]...
Amendments carried out in the Finance Bill, 2023, vide clause 128 to 144 except clause 142 will come into effect from a date to be notified, as far as possible, concurrently with the corresponding amendments to the similar Acts passed by the States & Union territories with legislature....