CBDT hereby extends date of furnishing of statement of financial transactions under Rule 114E(5) of Rules, r.w. section 285BA for Assessment Year 2017-18 front 31st May 2017 to 30th tune 2017 in case of persons throughout India who are liable to furnish the said statement.
Section 171 of the CGST Act provides for the Anti-profiteering measures so as to ensure that benefit of credit available is ultimately passed on to the consumer. However, with change in law and to enable ease of understanding for all the assessees Anti-profiteering measures be kept in abeyance for 2 years.
It may be observed that currently Paper 4 Taxation of Intermediate (IPC) examination covers questions from both Direct and Indirect Taxes. Candidates are required to write their answers thereon on a single answer book.
The Constitution has empowered concurrently the Centre and the states to levy GST on the supply of goods and/or services within the state. Thus, it will result in one central law on GST (CGST) and about 29 state laws on GST (SGST) as each state will have one SGST.
A Developer who opted for the said Composition Scheme was required to pay 1% composition amount in lieu of the tax, on the agreement (i.e. registered) value or the value determined for the purpose of payment of Stamp Duty, whichever is higher
Dr. Hasmukh Adhia, Revenue Secretary reiterates that the Goods and Services Tax (GST) would be implemented from July 1, 2017; States that GST would help in creating lot of jobs for young generation.
Representations have been received for clarification on the issue as to whether a depositor should submit only one declaration in respect of the income each year before each person responsible for making the payment (Deductor) or Form 15G/15H has to be submitted each and every time the payment is due to be received from the deductor.
Procedure for Acceptance of Statement of Financial Transactions from Sub-Registrar Office and Post Offices (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
Krishna, in GST, every tax payer will have to prepare different types of invoices. So, tell the details of invoices in GST, how to make invoices and when to make invoices?
One cannot stop the change but resistance of change is a natural phenomena and it is natural state of Mind in which there are some substance of fear attached to the change. Some sensational topics will also add their own share of fear and anxiety in the minds of persons who are the part of change.
