CA Srikant Agarwal

TDS (Tax Deduction at Source) u/s 51 of CGST Act 2017 for Govt Enterprises

Goods and Services Tax - Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that, A department or establishment of Central Govt or State Govt, or local authority or Govt Agencies or other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% + SGST 1%) ...

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GST Audit applicability for Government Companies

Goods and Services Tax - We know that GST audit u/s 35(5) of CGST Act 2017 is applicable for all registered dealer with turnover of > Rs 2 Crore. However by way of Central Goods and Services Tax (Amendment) Bill, 2018, the same has been exempted for Govt companies....

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How to get relief in case of Double Taxation?

Goods and Services Tax - In this age of globalization  many organizations including individuals have got their wings spread all over the world. In any country the tax is levied based on 1) Source Rule and 2) the Residence Rule. The source rule holds that income is to be taxed in the country in which it originates irrespective of whether the income accrues to...

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Leave Encashment or Leave Salary Tax Treatment Sec 10(10AA)

Goods and Services Tax - Many organisation provide the facility of Leave Encashment (by whatever name called be it earned leave, sick leave etc) either 1) during the period of employment or 2) at the time of retirement (including separation on account of resignation, retrenchment, VRS etc other than termination) of the employee or 3) at the time of Termination [&...

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Budget 2018 Impact on Deemed Income arising on sale/ purchase of immovable property

Goods and Services Tax - Article discusses Income Tax impact of union Budget 2018 on Deemed Income arising on sale/ purchase of immovable property under Section 50C, Section 56 and Section 43CA....

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Excel utility – West Bengal WCT Certificates Form 18

Goods and Services Tax - WCT certificate need to be issued as per the requirement of respective state VAT Act. In the state of west Bengal WCT certificate need to be issued on monthly basis as per rule 47 of West Bengal VAT Rules 2005. We have prepared a Marco in excel which makes the task of preparing WCT certificate in form 18 much easier. Generally it takes ar...

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Recent Posts in "CA Srikant Agarwal"

TDS (Tax Deduction at Source) u/s 51 of CGST Act 2017 for Govt Enterprises

Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that, A department or establishment of Central Govt or State Govt, or local authority or Govt Agencies or other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% + SGST 1%) ...

Read More

GST Audit applicability for Government Companies

We know that GST audit u/s 35(5) of CGST Act 2017 is applicable for all registered dealer with turnover of > Rs 2 Crore. However by way of Central Goods and Services Tax (Amendment) Bill, 2018, the same has been exempted for Govt companies....

Read More

How to get relief in case of Double Taxation?

In this age of globalization  many organizations including individuals have got their wings spread all over the world. In any country the tax is levied based on 1) Source Rule and 2) the Residence Rule. The source rule holds that income is to be taxed in the country in which it originates irrespective of whether the income accrues to...

Read More

Leave Encashment or Leave Salary Tax Treatment Sec 10(10AA)

Many organisation provide the facility of Leave Encashment (by whatever name called be it earned leave, sick leave etc) either 1) during the period of employment or 2) at the time of retirement (including separation on account of resignation, retrenchment, VRS etc other than termination) of the employee or 3) at the time of Termination [&...

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Income Tax Calculator for Financial Year 2018-19

Excel file containing Income Tax calculator for Financial Year 2018-19 / Assessment Year 2019-2020 after considering the amendments proposed by Union Budget / Finance Bill 2018. ...

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Budget 2018 Impact on Deemed Income arising on sale/ purchase of immovable property

Article discusses Income Tax impact of union Budget 2018 on Deemed Income arising on sale/ purchase of immovable property under Section 50C, Section 56 and Section 43CA....

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Impact of GST on Airline Industry and on OMC (Oil Marketing Companies)

As we know VAT (Value Added tax) was introduced (in the year 2005) in most of the states in India with the prime motive of removing cascading effect (i.e to reduce tax on tax).z...

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Income Tax Rates & Calculator for 21 years (F.Y. 2006-07 to 2017-18)

The below Income Tax calculator contains the rate of tax for last 21 financial year (i.e Financial year 1997-98 to 2017-18) and income tax calculator for last 11 years (i.e Financial year 2006-07 to 2017-18) for Individuals....

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C form under GST scenario

The main feature of CST Act is that it allows concessional sale @2% (as of now) against C form. The main question that arises, whether under GST scenario concessional sale at 2% will continue or not? Let’s examine the above question with respect to existing laws and amendments made in the recent past....

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Gujarat High Court upheld the validity of Entry Tax to be paid by aggregator (like Flipkart, Amazon etc) in the state of Gujrat

Entry tax is required to be paid in most of the states in India on entry of goods into the state for use, consumption or sale there of. Supreme court has also held that levy of entry tax by the state is constitutionally valid on 11.11.2016 by its nine Judge bench in the case of Jindal Steel Ltd Vs State of Haryana....

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