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According to the latest amendment in the said notification, an explanation shall be added in the Table. The explanation reflects the inclusions under the term “bus body building“. The explanation shall be entered against serial number 26, in column (3), in item (ic), in the table. The explanation reads, “For the purposes of this entry, […]
In the digital era, when many new chartered accountant software eventuates regularly, it becomes quite difficult to pick the most reliable, ingenious and relevant. Smart decision-makers purchase tried & tested products and that should be the way. Availing of a free trial is the best way to make a quick uptake decision. SAG Infotech – […]
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 […]
The 37 Council meeting chaired by Union Finance Minister Nirmala Sitharaman on 20 September concluded with various amendments in tax laws including tailoring of corporate tax rates from 30% to 22%. The reform is the breeze of relief for India in this stressed economy. Depressed GDP (current 5% from 8% a year ago), on the […]
After the implementation of GST, the council have decreased taxes on multiple products in various meetings. But customers are unable to enjoy the full fruits of these deductions on taxes.
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.
Recently the central government made an amendment into the legislation on the compensation cess under GST which made the centre very rightful in claiming a stake in ‘the unutilised (amount) in the Fund at any point of time in any financial year during the transition period’.
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.
The Goods and Service Tax or the GST will complete one year on July 1st, 2018. In this period, a number of provisions which were part of the original draft for GST were put on hold at the behest of requests from Industry leaders and experts to reduce the burden of Tax compliance.
