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Valentine’s Day (14th February) is the perfect time to express your love in the most extraordinary way. While expressing love and affection to our beloved ones we carry out certain transaction of give and take, are they taxable?
Arjuna, In this year, main focus was on Direct taxes rather than indirect taxes. The government has suggested certain changes in the income tax rate and deductions from the total income. In this budget, the government has focused on deduction provisions in case of senior citizen.
Krishna,now there is fever of E-way Bill in the GST. So, what is the situation of taxpayers at this moment?
E-way bill is an electronic document generated on the GST portal evidencing movement of goods. The nationwide e-way Bill system will be ready to be rolled out on a trial basis latest by 16th January, 2018 i.e, from tomorrow and from the 1st February the implementation of nationwide e-way Bill system for interstate supply will be done on a compulsory basis. Therefore, the Sankrant will come on Consignor, Consignee and transporter.
Krishna, the festival of Makar Sankranti has arrived. Small children have started to fly kites. Even the Government is also trying to fly the kite of GST from last six months. So what would you like to tell about that?
Arjuna, every year government brings various changes in the laws. But in the year 2017 it has bought new laws. In financial laws GST, Real Estate Regulation Act, etc. has been brought. Due to these new laws a large impact is seen and will be seen in the financial world. So today we will discuss on the new laws of 2017 and its impact in 2018.
Arjuna, Christmas is worldwide celebrated festival. In this festival Santa Claus gives gifts to Everyone. As Santa Claus fulfills the wishes of children by giving them toys, chocolates, etc. Similarly, there are certain wishes of the taxpayers which should be fulfill in the coming year.
Arjuna, in the meeting held on 16th December, decisions relating to E-way bill were taken. By overcoming all the conceptual and technical difficulties, Government has decided to levy the provisions of E-way bill.
GST has been applicable from 1st July but Sales tax department has issued notification regarding VAT Audit on 8th December. Please explain in details regarding VAT Audit.
Krishna, For which reasons, Composition Scheme under the GST has been brought? Arjuna, For Small taxpayers, it was very difficult to comply with provisions of Act and so many rules.
