Invoicing Rules have been set under GST which covers the details that should be written on the invoice including supplier’s name, shipping and billing address, place of supply, rate and HSN code. Lets talk all about invoicing under GST… Read More
Work Contract under GST
The Government has finalized a rate of 12% as Goods and Service Tax for work contracts, which initially deemed to be levying higher tax burden on the construction industry, but a closer view of the provisions will suggest a lower… Read More
FCRA Cancellation
The home ministry served notice to around 6000 NGOs for not filing their annual returns for five consecutive years and can lead to their license cancellation for receiving foreign donations, home ministry official said on monday. The Show cause notices… Read More
Migration of Input Credit under GST
The Goods and Service Tax (GST) even before its implementation attracted lot of discussions and queries about its implementation and the impact which it will make on small and medium enterprises. The new tax regime is said to make a… Read More
GST Relief for E-Commerce Players
The Government has postponed implementation of GST provisions that deal with the Tax Deducted at Source (TDS) and Collected at Source (TCS) that requires e-commerce players like Snapdeal, flipkart and Amazon to deduct the tax at source at the time… Read More
Complicated Rate under GST for Services
The council of Goods and Service Tax (GST) has approved a four-rate structure for taxing services similar to that of the goods under the new GST regime on friday.Most of the current exemptions has been retained in the new tax… Read More
Mothly single GST Return
Days before the GST is going to be implemented in India, the government has clarified today that the taxpayers will have to file only one return on monthly basis under GST. Revenue secretary Hasmukh Adhia said there will not be… Read More
Cancellation of Registration under GST if found guilty
The Government of India has released anti-profiteering rules under Goods and Service Tax on tuesday, according to which the government will cancel the GST registration of any entity if it does not comply with the provisions of passing the lower… Read More
Suspect Agricultural Income
As the Agricultural income is exempt from income tax, the Income Tax Department feels that many individuals have misreported their income as agricultural income in order to evade tax. According to the sources, the income tax department has issued notices… Read More
TDS on rent in excess of Rs. 50,000
Section 194-IB have inserted in the Income Tax Act, by the Finance Act, 2017, widening the scope of TDS by giving the responsibilty of Tax deduction to individuals also who pay a rent over Rs. 50,000 from June 1, 2017.… Read More