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Nirmala Sitharaman finance minister has been chaired the 45th GST Council meeting at Lucknow city. The council members have discussed several issues such as states compensation and revision of GST rates on Covid essentials, petrol diesel GST applicability or not, and food delivery app applicability. The major discussion points for the council meeting are the […]
The various groups and stakeholders of The Micro Small and Medium-scale Enterprises (MSMEs) have requested the State Government to further request the Union Government to extend the deadline of payment of GST Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment […]
The journey of implementing Goods and Services Tax that started on July 1, 2017 has impacted the lives of the population of India across the length and breadth of Industry. One of the Modi-Governments’s biggest focuses in its agenda is the Goods and Services Tax 2017. Today on the fourth anniversary of GST, there is […]
The income tax department launched the new website of Income Tax on June 7th, 2021. The website is having various technical problems since its launch. One of these is the problem related to ITR, Let’s know it in detail here. Various Errors Related to ITR People were excited about the new Income Tax website but […]
The GST council, in a recent meeting, has put a clarification on the grey area that annuity paid for ‘service provided in the form of access to a road or a bridge shall be exempted from GST. In India and most of the developing economies across the globe, Road construction projects are operated by the […]
Here is the reason for Taxpayers to be distressed and furious. No extension has been allowed beyond the May 20 due date for the purpose of filing the GSTR-3B and remitting taxes; however, the date for filing GSTR-1 that is required to claim input tax credits has been extended to May 26. “Ideally, the due […]
In yet another incident on Sunday, the Finance Minister Justified her perception on waiver of GST on Vaccines, COVID drugs, and Oxygen concentrators. She commented that GST exemption on Domestic Supplies of Vaccines Commercial Imports of Vaccines COVID Drugs Oxygen Concentrators would make the aforesaid items even costlier owing to the fact that manufactures would […]
In yet another attempt to provide ease and facilities to taxpayers on the web portal of GST and to make the GST web portal more interactive, The Goods and Services Tax Network (GSTN) has issued new functionalities (module wise) on the web portal of GST. These functionalities pertain to the below-mentioned modules: New Functionalities in […]
It has been recently held by The Income Tax Appellate Tribunal (ITAT), Hyderabad bench that the expenditure that has been incurred by the assessee to repair his house to make it habitable ought to be deducted from the sum of capital gain under section 54 of the Income-tax Act, 1961. Latest Update in Income Tax […]
