Prime Minister, Sh. Narender Modi in his address to the nation on 14.04.2020 declared extension of the lockdown till 03rd May, 2020 and relaxations could be given to certain areas with proper guidelines till April 20, every block, district, and state will be analysed closely about the enforcement of the lockdown and how much ever […]
Cash transaction leaves no trail of the payer that causes tax evasion & black money. It affects the Indian economy by dual aspect one is revenue deficit to government and another one is unaccounted money that cannot flow in the economy. Both of these problems terribly effects the development of a country. That’s why government […]
Everyone knows that Income from salary, rental income and business income is taxable under their respective heads. But what about income from sale or purchase of securities? Many stakeholders which includes homemakers, retired people, youth, working professionals spend their time gainfully buying and selling securities but are unsure of how this income is taxed. The […]
INTERVIEW WITH GST EXPERT CA BIMAL JAIN BY CA SUDHIR HALKHANDI Today I have with me one of the biggest Experts of GST CA Bimal Jain, The GST Guru. CA Bimal Jain is a qualified Chartered accountant 1994. He is FCA, FCS, and LLB. He is the chairman of Indirect Tax committee of PHD chamber […]
Interpretation has been provided for the clarification issued by CBIC through Circular no 137/07/2020 dated 13.04.2020. Due to spread of Novel Corona Virus, various difficulties have been faced by the taxpayers. In order to reduce the burden of taxpayers the government is coming up with various relief measures on day to day basis for facilitating […]
A. MCA in continuation with its LLP SETTLEMENT SCHEME, 2020 vide General Circular No. 06/2020 dated on March 04, 2020 issues MODIFIED LLP SETTLEMENT SCHEME, 2020 vide general circular no 13/2020 dated March 30, 2020 in order to provide relief to defaulting LLPs registered in India. B. Following are the changes/modification made to Scheme: 1. […]
Article explains implications of Notification No. 10/2020-(CT) to Notification 36/2020(CT), Circular 133 to Circular 136, Notification No. 2/2020- CT (Rate) to Notification No. 3/2020-CT (Rate) and Press Release dated 14.03.2020 post GST Council 39th Meeting. RECENT CHANGES IN GST NOTIFICATIONS 30 TO 36(CT) & Circular No. 136/2020 1. Composition Dealer a) Opting to pay tax […]
SECTION 51 : CHAPTER X :PAYMENT OF TAX OF CGST ACT , 2017 1. TDS under GST will be applicable from 1st October 2018. Major Heads of Taxes under GST are CGST, SGST & IGST .In addition, as per the GST law, certain categories of registered persons will be required to deduct taxes while making […]
1. The journey of GST commenced from 1st July 2017, and lot many changes have taken place since then. Due to a large number of amendments in the Act, there is a confusion as regards to threshold limit for registration under the Act. In this article, an attempt has been made to explain the requirement […]
1. Value of taxable supply : The value of a supply of goods and/or services shall be the transaction value, that is the price actually paid or payable for the said supply of goods and/or services where the supplier and the recipient of the supply are not related and the price is the sole consideration […]
