Accounts and Records under GST – In recent times, Government has enhanced its vigilance to curb the menace of excess claim of ITC or fake invoicing. Department has stepped up investigation against such activities and in many cases genuine taxpayers also face the heat of notices for reversal of Input Tax Credit or payment of […]
1. The taxable event under GST is supply of goods or services or both. The GST rates for goods and services are separately notified by GST Council. A supplier may engage in supplying combination of goods and services simultaneously. Each individual component in a given supply may attract different rate of tax. The rate of […]
Refunds are the important part of any tax legislation. Refund is a drawback of the excess taxes paid to the Government subject to the conditions laid down in any law. Article 265 of our constitution provides a base behind legislation of refund provisions under any tax law, which provides that no tax shall be levied […]
Understand the income tax rates for the financial year 2020-21 / AY 2021-22. Discover the different rates applicable to individuals, companies, and more.
Article contains updated TCS Rate Chart for For Assessment year 2020-21 (Financial year 2019-20) and Assessment year 2021-22 (Financial year 2020-21) updated with latest changes made by press release dated 13th May, 2020 and Finance Act, 2020. It further explains newly inserted TCS Provisions of Section 206C(1G)(a) – TCS on foreign remittance through Liberalised Remittance […]
TDS Rate Chart For Assessment year 2021-22 /Financial Year 2020-21 As we all are aware that yesterday our Honourable Finance Minister has conducted press release. In that press release she declared that The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the […]
Revised TDS/TCS Rate Applicable As Per Covid Economic Relief Package Applicable For All Kinds Of Payments W.E.F. 14th May 2020. Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman has announced today Reduction in Rates of Tax Deduction at Source (TDS) and ‘Tax Collected at Source (TCS). The TDS rates for payment to residents […]
TaxGuru and AMLEGALS brings together TAXEBINAR TAXEBINAR | Pandemic Pro Webinar | GST Unveiled | 14th May, 2020 | Thursday | 4.00 to 5.00 P.M Register for the Webinar at: No Registration Charge | A Must for CFO, CEO & In-House Indirect Professionals | What is your Tax Strategy post Covid-19? The broader concept of […]
Article covers Limit under Composition scheme, What is Aggregate Turnover, Person not entitled to avail Composition scheme under GST, Condition & restriction for levy of composition scheme (under Rule 5 of chapter II of CGST Act 2017), Form to be submitted, Composition Rate of Tax, Penalty for delay in filing GSTR -4, Important Notes and […]
Composition scheme is an option available to SME taxpayers with minimal compliance/filing requirement. The intent is to ease the process of doing business for SME taxpayers and reduce their undue harassment. The idea of this article is to provide the reader with complete insight of these schemes. The article is drafted primarily with GST point […]
