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Finally, Business Process Outsourcing industry is out of the dilemma that was created by the Government of India (GOI) months ago by issuing the circular that imposed 18 percent GST on Information Technology (IT) as well as Information Technology Enabled Services (ITES) companies which cater broker & intermediary services to foreign clients. GOI has now […]
With the approaching due date for Income Tax Audit Report filing, taxpayers and their hired professionals are excessively occupied with the task of completing the Income Tax Reports. While some are busy bundling the documents others are struggling to accurately file the compliance. Tax Audit Reports are submitted by taxpayers whose annual turnover is more […]
Income Tax Return Filing Filing an income tax return is a responsibility of every citizen of the country and also mandatory for each one of them. Income Tax Return is the form in which an assessee furnishes all his Income and tax details and thereon submit it to the Income Tax Department. Various ITR forms […]
This Article deals with defining and categorizing the transactions between the employer and employee from GST point of view.
Shipping industry under GST regime has suffered a lot and to understand this we may further try to reach the reason. GST has given many positive results but just at International level while domestic ones have not witnessed any advantage.
Job work is defined as the process which is undertaken on goods by a person that belongs to another registered person. The ownership of goods does not shift to the job-worker but it remains with the main manufacturer.
As per the new Rules and latest Directives from the CBIC (Central Board of Indirect Taxes and Customs), the Cars having price range more than Rs 10 lakh could cost more to the Indians due to the extra tax charged as per the new directives and rules from the Government’s end.
According to the Indian tax department’s understanding, India-based back offices of multinationals are just brokers and commission agents just rendering services while not coming into the definition of exporters.
In the recent AUTHORITY FOR ADVANCE RULINGS, ODISHA bench, it was taken as a decision that the input tax credit claims will be allowed for all the properties having maintenance as a part of the business.
