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Search results for: Income Tax Act

Refund Excess GST

Real Estate Needs Clarification on GST Rates for Commercial JDA

Any Joint Development Agreement or JDA of commercial project or sale of development rights is not exempted from GST. For now, it is mandatory to clear all sorts of confusion on GST rates for Joint Development Agreement or development right sale, especially for commercial projects. While certain exemptions are allowed for the transfer of development […]

GST PMT 08 Filing Process

GST PMT 08 Online Filing Process with Due Date

What is GST PMT 08? Form GST PMT-08 is introduced under the new simplified GST Returns, this helps the taxpayers to make the payment of self-assessed tax like TDS or ITC. The form is used instead of GSTR 3B. A taxpayer has to use this form every month for declaring and paying the monthly tax […]

ITR 6 Filing Guide

Step-by-Step Guide to File ITR 6 Online AY 2024-25

The ITR-6 Form for Income Tax Return filing with the IT department of India is meant for only those companies that are not claiming exemption u/s 11 (Income from property held for charitable or religious purposes) New Update in Form ITR 6 Get Demo of Gen IT Software for ITR 6 Form Who Can File […]

GST Implications on Inter State

Government to Levy GST on Inter-State Office Services

Latest in the news, Government has made it clear in its pitch that, goods and services tax or GST will be imposed on the exchange of services from one state to another. If the scale of the services provided by the office in one state goes to the office in another state than the responsible […]

GST Impact on Electric Vehicles

Buying Electric Vehicles May Soon Become Cheap Due to Lower GST

Society of Indian Automobile Manufacturers (SIAM) has recommended that to reduce the tax rates on electronic vehicles from 12 percent to 5 percent under GST to promote such vehicles in India, apart from providing one-time Income Tax (I-T) deduction of 30 percent on prices of e- vehicles for non- financed buyers.

GST From Central Government

What All Government is Doing To Correct GST Regime?

In a bid to improvise the goods and services tax regime, the authorities are looking at every method to make it successful and more productive. Many of the industry experts have made some insights in the indirect tax regime and have come up with multiple suggestions ranging from GST evasion to future course. Let us […]

New GST Return Mechanism

New GST Return Mechanism Ready to be Rolled Out in Phases

GST Council 35th Meet: The members approve new GST filing system. The Finance Ministry has recently showcased a roadmap for the enactment of the new GST return mechanism. A transaction mechanism has also been unveiled along with it. The trial period for implementation of the new GST return mechanism will start from July and will […]

ITC Misuse

GST: Hundreds of Fake Companies Playing on the Name of ITC Claim

The government has identified hundreds of fake companies taking input tax from the government in the name of the goods and services tax (GST). Now the government is set to take action against them. These companies besides taking the input credit from the government in a fraudulent way, also help other companies in stealing GST. […]

LLP to Privated Limited Company Conversion

Easy Guide to Convert LLP into Private Limited Company

Limited Liability Partnership is a term in the companies act which offers the partners to be limited in their personal liability towards any company in case of any liquidation or dissolution of the firm. Here we will make understand all the relevant and important points under the limited liability partnership including; Latest Update 22nd February […]

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