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As per the new Rules and latest Directives from the CBIC (Central Board of Indirect Taxes and Customs), the Cars having price range more than Rs 10 lakh could cost more to the Indians due to the extra tax charged as per the new directives and rules from the Government’s end.
The e-returns for IT had a massive jump this year i.e. in April-November, 6.09 crore returns were filed which is up by 48% year on year as compared to the growth of 20% in the 2017 and the highest growth was in the less-industrialized states like Uttar Pradesh, Madhya Pradesh, and Bihar.
Finally, the CBIC portal has issued an order for all the taxpayers so that they can file annual returns till 31st March 2019.
In a bid to make the National Pension System (NPS) more appealing for potential investors, the government has decided to make NPS withdrawals 100% tax-
If any person is responsible for paying any amount to the resident owner who wants to sell the resident by any means of payment for transferring of a fixed property (i.e., building or part of a building or any land other than agricultural land) under Section 194-1A, he is likely to deduct tax at source.
GST ALL INDIA IMPORTANT LINKS 1. All website related to GST GST Portal http://www.gst.gov.in/ GSTN Portal http://www.gstn.org/ Central Board of Excise and Customs http://www.cbec.gov.in/ GST E-way Bill https://ewaybill.nic.in/ 2. Government of India websites Ministry of Finance http://www.finmin.nic.in/ Ministry of Commerce http://commerce.nic.in/ Central Board of Direct Taxes http://www.cbec.gov.in/cae1-english.htm Central Board of Excise & Customs http://www.cbec.gov.in/cae1-english.htm Service […]
Recently the central government made an amendment into the legislation on the compensation cess under GST which made the centre very rightful in claiming a stake in ‘the unutilised (amount) in the Fund at any point of time in any financial year during the transition period’.
Now Income Tax Officers may be rewarded by the Central Government for settling all impending issues related to non-payment of direct taxes.
According to the Indian tax department’s understanding, India-based back offices of multinationals are just brokers and commission agents just rendering services while not coming into the definition of exporters.
