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The automobile Industry is very hopeful with the GST regime as the government is very cautious particularly for this sector. The industry of automobiles is tremendously big which tackles the manufacturing of a very large chunk of cars and bikes every year.
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
Revenue Secretary Hasmukh Adhia said on Thursday that the small businesses or traders with annual turnover of up to Rs 20-25 lakh will be exempted from Goods and Services Tax (GST), and the Centre and the states will agree on the same shortly.
GST Bill passed in the Rajya sabha with 203 votes in favour, within the 243 member in house. The GST Bill will replace a raft of all sates and local taxes under a single unified value added tax system in order to make the nation a big single market. The power is in the hands of the centre to levy taxes such as excise and empower states to collect retail taxes.
Even after almost a month of the launch of GST in India, people and businesses are still struggling to accept it completely. Let’s see how people from different areas are reacting to GST and what are their concerns.
If you are a salaried person, you must have got your Form 16 from your employer If the total income is more than Rs 5 lakh one has to mandatory go for e-filing. Also, refund of taxes becomes much faster when you opt for e-filing. These days one has various options through which he/she can […]
The final draft of the much talked about Goods and Service Tax (GST) , prepared by the central and state government officials,has been submitted to the the State Finance Ministers’ Committee. The empowered committee is expected to take the issue in the meeting that is planned for next week
Banks have the privilege to deduct a collection of revenue income officially termed TDS, which is a method of collecting tax on one’s interest income. Also, there’s an exemption limit of Rs. 2,50,000 under which, if your overall income falls, the same is charged. According to the Section 194A of the IT Act, 1961, banks […]
The finance ministry and empowered committee of state finance ministers have released a usual exempted items list including tea, coffee, biscuits and other medicines that have been exempted from excise duty.
