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Income Tax : Earning ₹15 lakh? Know how new tax slabs work and why ₹12 lakh exemption doesn’t apply. Learn about rebates, slab-wise taxat...
Income Tax : Budget 2025 introduces no income tax on earnings up to ₹12 lakhs under the new regime, offering significant relief. Learn about ...
Income Tax : Countrywise withholding tax rates as per the Income Tax Act compared to tax treaties/DTAA. Understand differences & implications f...
Income Tax : Understand the tax filing process in India and analyze the tax regime for FY 2023-24. Explore old and new tax rates, deductions, a...
Income Tax : Union Budget 2025-26 introduces tax relief with no income tax up to Rs. 12 lakh, benefiting middle-class taxpayers and boosting co...
Income Tax : Union Budget 2025 expectations include tax relief, GST reforms, R&D support, and measures for MSMEs. Common demands focus on easin...
Income Tax : Get clarity on the applicability of the new tax regime versus the old tax regime. Understand the differences and choose the regime...
Income Tax : MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS PERSONS WITH INCOME UP TO RS. 7 LAKH WILL NOT...
Corporate Law : After criticism on Tax Rate Reduction for Corporates Income Tax India has given following clarification on Twitter. It is to be no...
Income Tax : Higher rate of tax was prescribed in section 115BBE through an amendment made vide Taxation Laws (Second Amendment) Act, 2016 and ...
Income Tax : CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax r...
Income Tax : Circular 29/2019 – Clarifications on set off of brought forward loss due to additional depreciation & MAT credit if comp...
Goods and Services Tax : CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th J...
Goods and Services Tax : CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/20...
Goods and Services Tax : CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect fr...
The 14th Goods and Services Tax Council meeting has introduced multiple changes in the tax regime of the country. Rates for goods are now at nil, 5%, 8%, 12%, and 28% and the compensation cess to be levied on certain goods and services has also been approved for a number of categories. However, healthcare and […]
The Government of India decides to reduce the Basic Excise Duty rate on Petrol and Diesel [both branded and unbranded] by Rs. 2 per litre with effect from 4th October, 2017;
LIST OF GOODS FOR CHANGE IN GST RATE RECOMMENDED BY GST COUNCIL IN ITS 21st MEETING HELD ON 9TH SEPTEMBER, 2017 1. The GST Council has recommended changes in the GST rates on the following goods: S. No. HSN Description Present GST Rate Recommended GST rate 1. 0802 Walnuts, whether or not shelled 12% 5% […]
Understand the income tax slabs for AY 2018-19 / FY 2017-18 and learn how they affect your taxable income. Find out the rates and rebates applicable to different income levels.
The e-book contains Rate of Tax on Services as applicable after considering all Notifications, Circulars etc issued by CBEC from time to time till 3rd July 2017 and includes Services taxable at Nil Rate of Taxation, taxable at the rate of 5%, taxable at the rate of 12%, taxable at the rate of 18%, taxable at the rate of 28% and GST On Supply Of Services At Same Rate As On Supply Of Similar Goods.
Right before the roll out of GST, let’s have a quick recap of the list of rate of services, approved by the GST Council in its 14th Meeting with related amendments, so far covering the Services under Reverse Charge and Services Exempted under GST.
1. In the list of service tax exemptions to be continued in GST as approved by the GST Council, after S.No. 83, the following shall be inserted –
GST council has revised GST rate more than 66 items in its meeting held on 11th June 2017. In its meeting council has revised the rate downward on most of the items. Rates on most goods has come down from higher rate to comparatively lower rate. In some cases rate has come down from 28% to 0% also.
Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY GST COUNCIL The fitment of rates of services were discussed on 19 May 2017 during […]
Reduction in corporate tax rate – Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16
