The GST Council in its 32nd meeting held on 10th Jan 2019 considered the demands raised by the MSME (including the small traders) to increase the threshold limit for registration and to ease the compliance burden under GST. Key highlights of the meeting are as follows: Two higher exemption threshold limit from registration and payment […]
Amendments in Composition Scheme under GST and inclusion of Supplier of Service under the Scheme. With a first meeting in a new calendar year of 2019 GST council has come up with a relaxing exhale for MSME units and small traders by introducing some essential changes to the policy and procedure under the GST Act. […]
Inform- GSTR 9 there have been various points which have created confusion among taxpayers on account of ambiguous and contradictory instructions given in the form. There was also a shortcoming that this form is only a sum-up of form GSTR-3B and GSTR-1, as already submitted.
Any profit made on sale of an investment generally referred to as capital asset under the income tax laws becomes taxable as short term or long term capital gains depending on the holding period of such asset. Different holding periods, ranging from 12 months to 36 months, are prescribed for different class of assets to […]
जीएसटी कौंसिल की 32 वीं मीटिंग अब 10 जनवरी 2019 को हो रही है, माहौल और कारण कोई भी हो, जिनके कारण हम अब जीएसटी में तीव्र सुधारों की आशा कर रहें हैं , उनकी गहराई में जाने की जगह , आइये देखें इस मीटिंग से हम क्या उम्मीद कर सकते हैं क्यों कि अब जीएसटी कौंसिल के त्वरित फैसले ही जीएसटी में उद्योग एवं व्यापार का विश्वास को ना सिर्फ पुन: स्थापित कर सकते हैं बल्कि जीएसटी को भी एक नया जीवन दे सकते हैं :-
SECTION WISE ANALYSIS OF THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) ACT, 2018 AS NOTIFIED ON 30-08-2018 [44] Short title and commencement. (1) This Act may be called the Central Goods and Services Tax (Amendment) Act, 2018. (2) Save as otherwise provided, the provisions of this Act shall come into force on such date as […]
New Year celebration and resolutions for year 2019 are thought over by all. Many new notifications, circulars, orders, etc. in GST are issued on 31-12-2018. What are new changes in GST?
Indirect Taxes Updates GST, Customs, Excise, Service Tax & VAT Month – December 2018 The GST Council (‘Council’) convened its 31st Meeting on December 22, 2018 after a gap of almost 3 months. The council has proposed reduction of tax rates for serval items, legislative amendments and other changes relating to extension in dates and […]
जीएसटी के दौरान रिटर्न देरी से पेश किये जाने के लिए लेट फीस के प्रावधान बनाये गये थे उनके बारे में जीएसटी विशेषज्ञ प्रारम्भ से ही सहमत की नहीं थे क्यों कि जीएसटी कानून नया था और ये लेट फीस के कानून ना सिर्फ सख्त थे बल्कि लेट फीस की राशि का डीलर द्वारा भुगतान किये जाने वाले कर की राशी से भी कोई संबंध नही था और इसके कारण हुआ यह कि जिन कर दाताओं के कोई कर की मांग नहीं थी उन्हें भी लेट फीस के रूप में हजारों रूपये की लेट फीस जमा करानी पड़ी थी.
Under Section 80 C, an individual and an HUF can claim a deduction up to Rs 1.50 lakh for principal repayment of home loan taken for a residential house along with other eligible items like Public Provident Fund, Employee Provident Fund, life insurance premium, National Saving Certificates Equity Linked Saving Scheme etc.
