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Goods Transport Agency (GTA): The transportation services of goods by road under Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (sr.no.18), are free from GST Services (Heading 9965): (a) By road except for the services of: (b) By internal waterways. Latest Update Thus, it is to be considered as the transportation of goods by road, unless […]
Many new changes are anticipated to be taken in by the Nation with the appointment of new finance minister by newly elected National Democratic Alliance (NDA) government.These mutations may include taxation on cash transactions, taxation on inherited property, change in the fiscal year from April-March to January-December and equalising the duration of the fiscal year […]
The ‘blocked credits’ under GST (Goods and Services Tax) is affecting the malls and hotels and regarding this, the Delhi High Court issued a notice on 20th May 2019 to the Centre and Delhi government. Under the section 16 of the GST Act for the ITC (Input Tax Credit) has a provision that gives the […]
Manufacturing date and Expiry date play a very important role while buying a product because it shows when the product was manufactured and when it is going to be expired. Almost everyone checks the expiry date of the product let that be household products or medicines. The Medicines or Drugs are sold in a process […]
AMC stands for Annual Maintenance Contract. AMC provides security on all the components let that be the large manufacturing machine of the company or the basic components like the printer or the computer. It gives the benefit of repair and maintenance to such products and the time period of the contract might vary from 1 […]
The only things that knock our minds when we listen to the word ‘rent’ are the payment which has to be paid at the beginning or at the end of every month. This can be understood by the person who lives in the rented house or has to give any rent like the machine rent, […]
The central and state tax officials have decided to check the profiteering is being done by the retailers and manufacturers or not i.e. they wanted to see whether the benefits of GST cut downs are been given to the customers or not. And for this, the officials will turn in to the customers and will […]
It is a very arguable question by every taxpayer as to how his income tax paid is getting utilized by the government. It is well known that the government only receives income tax from 1-2 per cent of the population while it contributes to only 14 per cent of total expenditure done by the central government.
R. Kalyanasundaram, president of Tamilnadu Pumps and Spares Manufacturers’ Association (TAPMAA) claimed that the GST (Goods and Services Tax) has taken their business to another level and GST is a boon to the small-scale units.
