User friendly filing of GSTR-3B : GSTN

Views: 223 Guidelines issued by GSTN for User friendly filing of GSTR-3B: a) While proceeding to payment you can see details of balances as available in cash and credit ledgers at one place. Tax liabilities as declared in GSTR 3B along with the credits gets updated...

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Salient Features:The Banning of Unregulated Deposit Schemes Bill, 2018

Views: 149 The Banning of Unregulated Deposit Schemes Bill, 2018 : The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval to introduce the banning of Unregulated Deposit Schemes Bill, 2018 in Parliament. Salient Features of the Banning of Unregulated Deposit...

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Salient Features: Chit Funds (Amendment) Bill, 2018

Views: 208 Chit Funds (Amendment) Bill, 2018: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to introduce the Chit Funds (Amendment) Bill, 2018 in Parliament. In order to facilitate orderly growth of the Chit Funds sector and remove...

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Audit Objection to CESTAT : An Observation

Views: 214 Audit Objection to CESTAT – Career oriented adjudication are a great burden on the Industry Only in a few and rare cases, the arguments and case law cited are studied judiciously. Because, MMC ( Monthly Monitoring Committee) of Audit will decide ( with...

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What is the taxable value of Second hand goods?

Views: 529 There is a very huge market share of used car & second hand goods sales in India and gradually growing with e-commerce platform also like Carwale, Justdial, Olx, Zigwheels etc. Even books, cloths and other low value items also getting attention in this...

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Composition Levy Scheme and Small GST Taxpayers

Views: 290 An Important notification issued by Govt. notification no. 1/2018, it is related with Composition Levy Scheme. This notification came on January 1st, 2018, by virtue of this notification the tax liability for manufacturer under the composition levy scheme, reduced from 2% to 1%,...

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Bombay High Court on Goods and Service Tax Tran-1 blockage

Views: 505 Bombay High Court on Goods and Service Tax Tran-1 blockage Abicor and Binzel Technoweld Pvt Ltd v Union of India [Writ Petition (L) No 2230 of 2018] ✍ Bombay High Court has taken serious notice of the fact that GST Network (GSTN) is...

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Clarification on Long Term Capital Gains by CBDT after Budget 2018

Views: 340 Clarification issues by CBDT through Frequently Asked Questions regarding taxation of long-term capital gains proposed in Finance Bill, 2018 – (Ref File No. 370149/20/2018-TPL DT: 04-February-2018) Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity...

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Trade Discount related Guide in GST Regime

Views: 1,856 In Indian context giving trade discounts and price reductions during negotiations after supply of goods and services is very common in business. However, if such post supply discounts were not anticipated at the time of supply, it is not allowed to be deducted...

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Snippet of Union Budget 2018 presented by Mr. FM

Views: 288 Kishan, Common Man, Business and Development friendly Budget 2018 has been present by Finance Minister Mr. Arun Jaitley before Parliament today. Here we are presenting key highlights of the Union Budget 2018. DIRECT TAX No changes in personal income tax rates. Standard deduction...

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