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The third Lockdown is going to end on 17th May 2020 but PM Narendra Modi on 8th May already indicated that the next lockdown is on its way. With back to back lockdowns, everything except shops for essential products was closed for over a month. Due to lockdowns caused by Covid-19 Panadamic, every sector is […]
Due to the COVID-19 pandemic, last dates for various return filing and other government work has been stretched, and in the same line-up, the recent update states that the “Bihar Settlement of Taxation Disputes Act, 2019” has been also extended for three months. The Notification was released on 13th April 2020 by the Governor of […]
Capital Good – Defined Under CGST Act 2017 As mentioned under section 2(19) of the Central Goods and Service Act 2017, Capital Goods under GST are termed as goods whose value is capitalized (recorded as an asset) in the Books of Accounts which can either be claimed by the assessee as the Input Tax Credit […]
Whenever we log in to our income tax account, the first thing that flashes on the screen is the pop-up to update our contact and residential details. We often tend to hit the skip button and move on with other crucial tasks. If the details are already updated then it’s good but if not then […]
As per a recently released order, AAR stated that a separate Goods and Service Tax (GST) registration is not necessary for another state for continuing the contract in that state. The Order clearly states that if an entity has a proper GST registration then /he/she/they don’t need separate GST registration to execute the contract in […]
According to the Goods and Services Tax (GST) Act, 2017, all the assessees filing the GST returns Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment with interest. Read More All the assessments are suggested that they should issue the GST […]
AAR is an acronym of Authority on Advance Ruling in Karnataka, In a recent matter, AAR stated that the tax invoice can be issued with Integrated Goods and Service Tax( IGST) to customers for the interstate transaction in the case where the goods are directly dispatched from the port of import with invoicing completed from […]
The Authority of Advance Ruling (AAR) stated in a ruling that all the goods supplied under the Turn-key Contract– having some independent contract- out of which those contract that does not come under the nature of works contract, will not be categorized under the value of the contract- in the nature of works contract just […]
This article is going to be helpful for taxpayers confused about the provisions under Sections 111A, 112, and 112A of the Income Tax Act, 1961 regarding the capital gains taxes of Shares, Debentures, Mutual Funds, and other types of movable and immovable properties. Need Demo of Income Tax Compliance Software Section 111A Under Income Tax […]
