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Director Identification Number (DIN) has was introduced in India with the Companies Amendment Act, 2006. DIN Number is an 8 digit unique number that is required for any existing or proposed Director of a Company. Recently the Central Board of Indirect Taxes and Customs ( CBIC ) has enhanced the reach and use of Director […]
The Taxation Law (Amendment) Bill 2019 passed by Lok Sabha is all set to change the current dynamics of corporation tax rates. This recent bill passed is an attempt to replace the orders issued in the goods and service tax (GST) Council meeting Get to know about GST (Goods and Services Tax) council 1st to […]
Sign of Relief for Bharti Airtel, Vodafone and Idea – The Department of Telecommunications will turn out the Goods & Services Tax Council through the Finance Ministry for the pending (ITC) Input Tax Credit As the deadline for filing GST returns under the new, revised mechanism is approaching, many taxpayers are still confused regarding the […]
The finance ministry has to come up with solid plans to get the desired figures of tax revenue. Finance Minister Nirmala Sitharaman, who was supposed to introduce measures to accelerate the stagnant economy within a month of her maiden budget being approved by Parliament. The council is asking for suggestions from separate section stakeholders before […]
Various changes in different sectors including banking, driving license and GST from 1 October 2019 i.e. from today are going to significantly affect our lifestyles and budgets. According to the Reserve Bank guidelines, the banks will offer retail loans at repo rate linked interest rate, from today. At the same time, due to the revision […]
According to a report, auto sales which were witnessing a steep fall will only be benefited with a minimal discount of 1-2 per cent discount only as against to proposed massive reduction in corporate tax which brings down the levy on companies to 10-12 percentage points. In contrast to this, if the government offered a […]
The government has again extended the tax exemption for one year till March 2020 to all the exporters under small and medium-sized units (MSMEs), exempting them to pay integrated goods and services tax and compensation cess.
Maharashtra Authority for Advance Ruling has recently ruled out the provision for the input tax credit under the gold schemes which are a sales target oriented form of business practice by the companies.
After so many hurdles, GST came into effect in India on 1st July 2017 with five slab rates – 0%, 5%, 12%, 18%, and 28%.
