Goods and Services Tax : In most of cases the person who receives summon feels very uncomfortable as it is an invitation of some trouble. Practically what ...
Income Tax : Purchase and capital expenditures are required to be reported under clause 44 of Tax Audit report as both falls under expenditure ...
Goods and Services Tax : Exports are good for any economy due to various reasons including the most popular reason of foreign currency being received by ex...
Goods and Services Tax : GST is a destination based consumption tax which is a major departure from existing origin based taxation system. Under destinatio...
Goods and Services Tax : India had an internet user base of about354 million as of June 2015 and is expected to cross 500 million in 2016.Despite being the...
CA Vinod Kaushik Introduction: Before I begin this article it is crucial to discuss the reasons behind writing this article with such a scary title and too when the concept of ease of doing business is on its peak. In fact all of us use the e-commerce in daily life to buy goods without moving […]
CA Vinod Kaushik Introduction: As you all know the first regular budget of Delhi was presented on 25-06-2015 by Finance Minister Mr. Manish Sisodia and there were so many announcements related to state taxes like VAT, Luxury tax, Entertainment tax and a tax on commercial goods vehicle entering Delhi. In Industry as well as small […]
There is no upward change in rate of taxes under Delhi VAT as Hon’ble Finance Minister said that I am not proposing any enhancement in tax rates. We believe that tax collection will improve with effective and efficient tax administration. This Government is committed to simplifying the VAT structure to make it easier for the trader community to comply with the DVAT Rules and Regulations
What is E-I E-II Sales: Before starting this article is it is important to explain the meaning of E-I and E-II sales. As per CST law tax is levied at single point i.e. when the goods are sold from Haryana to Delhi then tax should be levied in Haryana only even if the goods are sold further during their movement from Haryana to Delhi subject to certain conditions.
Everyone including me is very optimistic about passage of GST Bill in both the houses of Parliament in this undergoing budget session of parliament which has started from 23 February 2015 with the President speech and will conclude on 08th May 2015.It is worth to mention the extracts of President speech
Before I begin this article it is worthwhile to discuss the background behind this since as of today no professional as well dealer is sure about the consequences of proposed GST legislation. There is General perception among professional and society that GST will remove cascading effect, make administration simple and system will become more transparent.
I shall begin my write-up with the wording of section 70 of DVAT Act which empowers Commissioner DVAT to issue notifications and prescribe various forms which are necessary for the administration of the Act. By using the said powers Learned Commissioner issued a notification (No. F 7/433/2012/472-483) dated 16-08-2012 to file rate wise details of stock as on 31st March of every year online by 30th day of June of the same year.
This article is basically written to give you understanding of evolution of works contract tax in India and its entire journey from beginning till date. Before I take you into the mid of ocean we have to first understand that why the need arises of introduction of works contact tax and its respective calculation methods.
The Indian Industry is waiting very desperately for GST because it will subsume major indirect taxes levied by Central Government and State Government which will remove the cascading effect of taxes on costing of the Industry.
The Tax Credit shall not be allowed: A) In the case of the purchase of goods from a Unregistered dealer; B) For the purchase of non-creditable goods (THE SEVENTH SCHEDULE); C) For the purchase of goods which are to be incorporated into the structure of a building owned or occupied by the person;
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | 31 | ||||
