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India’s biggest banker State Bank of India (SBI) to impose a levy on those people whose ATM transactions have failed because of not enough balance. A transaction that does not succeed because of insufficient funds in the account of the customer to furnish an additional value as a penalty. There are choices such as missed […]
Firms who were importing the raw substance used to make the sanitizers and disinfectants laid the government to the court towards the nonavailability of the claim of advantages over the apparent typing error in the goods and services tax (GST) platform. Lower custom duty is been paid by the importers of the ‘denatured ethyl alcohol’, […]
The amount furnished in the deposit account or some specified account to utilize the amount for the particular period is permitted as a deduction under section 33AB. Beneath section 33AB of the Income Tax Act, the deduction is open to taxpayers who are engaged in businesses in India like cultivating and manufacturing tea, coffee, or […]
The trader’s community has ordered to launch the nationwide distress to abolish the unfair provision of the Food Safety and Standards Authority (FSSAI) Act and the alterations to the Goods and Services Tax (GST) act. This is implemented in the Maharastra statewide summit which has been conducted through the Apex body of traders- Confederation of […]
Myth 01: The bigger number of the assessee will be influenced by the rule. Fact: For several privileges such as exporters, suppliers of goods of inverted duty structure, assessees who have a footstep in the Income Tax database, etc. it is thought that this rule will be applied to only 0.5% of the total assessees […]
In the Bombay High Court a writ appeal has implied asking the arrest procurements beneath the goods and services tax (GST) laws. GST Input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read more , has […]
For digital conversion, e-invoicing is an opportunity, it is one of the opinions of the government’s ‘Digital India’ operations. The fresh system of an invoice carries diverse benefits and is approved via government, for both the government and assessee and assists to enhance the simplicity of doing business. As the launch of the platforms for […]
The West Bengal Authority of Advance Ruling (AAR) commanded that 12% GST is applicable on a blended supply of the job work and works contract The Authority of Advance Ruling (AAR) Maharashtra came up with a ruling that clarifies that immovable properties with no distinct goods and services will. Read more. The petitioner is the […]
The pen industry is facing double problems of Rs 2000 cr due to ongoing covid-19 and from the GST said the officials. The pen manufacturer states that 18 % GST has been imposed by the central board of indirect taxes “Recently, many of the exporters have come under the tracing radar of tax authorities in […]
