GST on accommodation,betting and gambling,horse racing,cinema etc.

Views: 188 Clarification on certain issues regarding levy of GST on accommodation services, betting and gambling in casinos, horse racing, admission to cinema, homestays, printing, legal services etc. 1. Will GST be charged on actual tariff or declared tariff for accommodation services? Clarification: Declared or...

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CBEC Notifies New Dates of filing GSTR-1

Views: 327 Today, CBEC notifies new updates regarding an extension of due date of filing GSTR-1, Maximum limit of Late fees for filing GSTR-4 and appoints date from which E-way Bill rules shall come into force. 1.GSTR-1 (Turnover up to 1.50 Cr): Central Government, on...

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Input Tax Credit on Failure to pay Value of supply

Views: 251 When tax payer failure to pay Value of supply to Vendor within a period of 6 month: The Second proviso to Section 16(2) read with Rule 37 of the GST Act, says that where a recipient fails to pay to the supplier of...

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Guidelines for filing GSTR-1,GSTR-3B,TRAN-1

Views: 370 A. GSTR-1 (Quarterly filing option): Following points to be noted by Taxpayer, who have opted for quarterly filing of Form GSTR-1: 1. Once you have chosen the option ‘Quarterly’, you cannot change this option in the remaining part of the financial year 2017-18....

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Forbid Cash Transaction and related Income Tax Provisions

Views: 241 What Income Tax Act Says about Cash Transactions and Consequences of Non-Compliance of related provisions in the act & rules. After the demonetization Indian economy gradually moving towards the Cashless economy and increase the use of digital money. An increase of electronic transactions...

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New Developments from GSTN (Goods and Services Tax Network)

Views: 176 GSTN ( The Goods and Services Tax Network ), went live on November 8, 2016 last year, has over the year improvised the system to help lakhs of businesses to pay taxes and file returns under the new GST era every month. GSTN...

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Glimps of New development in EPFO

Views: 101 EPFO is resolved to reinforce the e-Governance framework to bring more straight forwardness and to give better administrations to its stakeholders. EPFO has just propelled various e-Governance activities, for example, Electronic Challan-cum-Return, Member e-passbook, installment through National Electronic Fund Transfer, Online Registration of...

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New Era of Direct Tax Legislation begin

Views: 138 New era of Direct Tax Legislation being with Constitution of Task Force for drafting a New Direct Tax Legislation During the Rajaswa Gyan Sangam held on 1st and 2nd September, 2017, the Prime Minister Shri Narendra Modi had observed that the Income-tax Act,...

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Appeal to Pass on GST rate reduction benefit to Consumers

Views: 178 The Chairperson of Central Board of Excise & Customs (CBEC) appeal to all the major Fast-Moving Consumer Goods (FMCG) companies to immediately revise the MRP on all the products in which the reduction of GST rate has been announced by the Council. The...

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Guidelines for adjustment under section 143(1)(a)(vi) of IT Act

Views: 4,502 Central Board of Direct Taxes (CBDT), issues guidelines for communication under section 143(1)(a)(vi) of the Act while considering returns for processing pertaining to ITR Forms 2, 3, 4, 5 & 6. Subject: Processing of income-tax returns filed in Forms ITR-2, 3, 4, 5...

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