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Search results for: IT Act

Changes in Section 271J

Attention CAs! Find All Changes in Section 271J of the I-T Act

The onset of the Tax Audit spell is a buzzing alarm for CAs to update their knowledge about different clauses of the Form 3CD and form a checklist to move in tune with Tax officials. C.A.s may prepare and follow a step-by-step procedure which is in compliance with the I.T. rules and regulations to stay […]

GST Rates on Tractors and Agricultural Inputs

Indian Farmers Seeking GST Exemption on Tractors and Other Agricultural Inputs

Defending the farmer society, Congress member Uttam Kumar Reddy pitched to the government to reduce the GST to zero on fertilizers and other agricultural machine markets. Uttam Reddy says, the GST rates on the cost of fertilizers and agricultural machinery should either be ‘Zero’ or on the lowest GST slabs. Proclaiming the circumstances of the […]

Tax Proposals

Budget 2019: Tax Proposals and Its Impact on Taxpayers

The Union Budget 2019 has been presented twice this year by the central government. The interim budget in February is followed by the presentation of the full budget in July by the BJP government after its immense triumph in the general elections. Both budgets constitute income tax-related notifications which would affect the personal finances of […]

GST Practitioner

Know How a GST Practitioner Can Help You With Return Filing Now

GST practitioner is personnel who is approved by the government (state or central) to take charge of all the tax-related activities on behalf of taxpayers and business firm. GST practitioner is a person concerned for fresh registrations under GST, applying for amendments or cancellation of registration. No shells of GST are left uncovered for a […]

Income Tax Department Raids

Income Tax Dept Prefers Direct Actions Over Raids

The Income Tax Department has made several major changes in the measures to catch the tax evaders and in the actions against them in the last few days. Now instead of raids in the country, the Income Tax Department will take direct action by setting the target. According to the senior officials of the IT […]

Goods Transport Agency Under GST Act

Easy Guide to GTA (Goods Transport Agency) Under GST Act

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: A Goods Transport Agency (GTA) A courier agency (b) By internal waterways. Therefore, till now, the goods transportation by road, […]

Cash Transactions & Inherited Property

Govt Ready To Revive Taxes Against Cash Transactions & Inherited Property

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 […]

Delhi HC Notice to Government on 20% Sealing of GST Credit

High Court Takes Action For ‘Blocked Credits’ Under GST

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 […]

GST Impact Expired Medicin Return

GST Impact on Expired Medicine/ Drugs Return

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 […]

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