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The Central Board of Direct Taxes released notifications on 29th September and 30th September and made some important announcements. Through a notification issued on September 29, the CBDT empowered the Principal Director General of Income Tax (System) or the Director General of Income Tax (System) to upload information related to GST returns, which is in […]
Central board of direct taxes CBDT has announced that on the sales of items and services valued over 50 lakh annually will be considered with compensation including GST which is currently charged with 0.1 % TCS. On the TCS returns the Income-tax department TGet to know about new TCS (Tax Collected at Source) rules under […]
The Maharashtra Appellate Authority of Advance Ruling (AAAR) declared the AAR’s governing and endured that 18% GST rate Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, 12%, 18% and 28%. Read more is leviable on sale of Transferable Development Rights […]
In the context of Value added tax, the countries who have implemented VAT with credit are facing input tax credit frauds. For recovering from these issues the Goods and Services Tax (GST) law has created several anti-abuse provisions, that have the GST credit taken by the taxpayer with the GST paid by its supplier in […]
Under Section 11 and 12 the Income Tax Appellate Tribunal (ITAT), New Delhi approved the privilege to Association of State Road Transport which is qualified as a foundation for charitable goals. The taxpayer of Association of State Road Transport facilitates as an apex regulating organization for all Nationalized State Road Transport Corporation which executes working […]
For the faceless assessment, the board will set up a national faceless appeal centre Prime Minister Narendra Modi will launch the faceless assessment scheme for the Income-tax department. This will be set up and implemented by the National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres. Read more for providing services through e-appeal […]
Under the Amnesty scheme 2020, Kerala GST officials provide instructions for the settlement of arrears. The province of Commissioner of KGST in the context of Kerala Finance Bill, 2020 to assure constancy in bringing out the improvements performed in different Laws and conditions with regards to Amnesty Scheme, 2020 The Indian government is planning to […]
The outer agencies providing the services to the board of examination in concern to conduct the examination cannot induce Goods and Services Tax (GST) said by Karnataka AAR “It is an undisputed fact that the process of conducting the examination is not limited/restricted to the test centre. The examination is an incomplete activity without assessment. […]
There was fake news in the air especially on Social Media that the due date to furnish income tax returns for the Assessment Year 2019-20 (FY 2018-19) and Assessment Year 2020-21 (FY 2019-20) and the due date to furnish tax audit report for Assessment Year 2020-21 (FY 2019-20) Have been extended up to 31st March […]
