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GST was touted as ‘One Nation One Tax’ since its introduction on July 1st, 2017 GST has undergone many changes both structural and provisional.
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, firm partnership, foreign income or any agricultural income of more than Rs 5,000.
The Authority for Advance Rulings (AAR) has recently notified that GST cannot be levied on payments sent by a foreign company to its liaison offices in the country for reimbursement of various expenses.
The reports of tax evasion are not new. Taxpayers have even managed to find ways to evade taxes in the new Goods and Services Tax (GST) regime.
The last date to file the income tax return (ITR) for Non-Audit Cases is 31st July 2024 and for audit cases, the due date is 31st October 2024 for FY 2023-24 (A.Y. 2024-25). It is necessary to ensure that the details furnished in the form are all correct. It happens that many times the taxpayers […]
Amidst rising criticism on the multi-slab tax levied under GST, Prime Minister Narendra Modi in a recent interview to Swarajya magazine put forth his Government’s logic on the same.
The Central Government might reduce the luxury tax slab of 28% on construction items ahead of the 2019 election. The move will be aimed to stimulate the currently dull construction sector.
The technological fabric of GST intertwined with compliances complexities and multiple-stage taxing has spelt doom for the once flourishing Textile and Powerloom Industry of Surat.
Taxpayers these days are running head and toes for their documents which have to submit within 7 days after getting the due noticed from the income tax department.
