CA Deepak Aggarwal articles

Services Tax Provisions under Budget 2016 in Q & A Format

Question - What is Krishi Kalyan Cess? Answer - An enabling provision is being made to levy Krishi Kalyan Cess on all taxable services @ 0.5% with effect from 1st June, 2016, to finance and promote initiatives to improve agriculture....

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Posted Under: Income Tax | ,

Input Tax Credit in Model GST Law, 2016

♠ Input Tax Credit means credit of input tax. ♠ Every taxable person is entitled to take credit of input tax. ♠ Input tax means the IGST, CGST or SGST/ IGST and CGST/ IGST and SGST charged on any supply of goods/ services which are used, or are to be used, in the course or furtherance of business....

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Posted Under: Income Tax |

The Integrated Goods and Services Tax Act, 2016 (IGST)

This act may be called the Integrated Goods and Services Tax Act, 2016. It extends to whole India. IGST applicable on all supplies of goods/services in the course of Inter-state trade or commerce. State includes Union Territory. However a supply of goods/services in the course of import in India shall be deemed to be an Inter-state supply...

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Posted Under: Income Tax |

Old provisions as per Negotiable Instrument Act, 1881 with amended provisions by Negotiable Instrument Amendment Act, 2015

a cheque in the electronic form means a cheque drawn in electronic form by using any computer resource and signed in a secure system with digital signature (with or without biometrics signature) and asymmetric crypto system or with electronic signature, as the case may be...

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Posted Under: Income Tax |

Quick Review of Model Goods and Services Tax Act, 2016

This act may be called the Central GST Act, 2016 (CGST) / State GST Act, 2016 (SGST). It extends to the whole India. In case of SGST, to the respective state. CGST/SGST will be levied on all intra-state supplies of goods/ services. Goods mean every kind of moveable property other than actionable claim and money but includes securities, gr...

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Posted Under: Income Tax |

Gist of Gold Monetization Scheme (GMS) 2015

Resident Indians (Individuals, HUF, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations and Companies) are eligible for this scheme. Joint deposits of two or more eligible depositors are also allowed under the scheme and the deposit in such case shall be credited to the joint deposit accoun...

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Posted Under: Income Tax |

Point wise coverage of draft process of GST registration

CA Deepak Aggarwal Report of the Joint Committee on Business Processes for GST Registration Processes in GST Regime ♣ All existing registered persons, whether with the Centre or State under any of the tax statues being subsumed in GST, would be allotted a GST registration number called Goods and Services Tax Identification Number (GSTIN...

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Posted Under: Income Tax |

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