Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
In today’s busy world, each and every person wants some income tax exemptions through their salary or profession. Also, to make India cashless and bring it out of corruption, the government is trying every possible way. Now the IT (Income Tax) department has again come up with something in which it warned the people to […]
GST Council’s 31st meeting has taken some of the major decisions on the higher slab rate. The meeting deliberately made discussion on the items coming under the highest 28% GST slab rate.
Due to the technical glitches at GSTN Network, E-commerce firms have been facing difficulties to file the details of tax collected at source (TCS) which adversely influencing the working capital of small retailer firms.
From October 1, under GST law, E-commerce aggregators like Amazon, Flipkart and others need to deduct 1% tax for each of their transactions.
GSTR 7A is a GST form for all the tax deductors who had deducted the TDS i.e. tax deducted at source from the payments made. The form must include all the details of tax deducted at source by the supplier of the products.
The MSME’s demand for the GST rate cuts could not be fulfilled by the Government and no decisions could be taken in this context in the forthcoming GST meeting which is supposed to be held on 28th and 29th of this month.
The government has directed the E-commerce companies to start collecting up to 1 percent TCS in the course of making any payment to suppliers under GST.
From the recent circulars passed in the context of Tax and GST, it is crystal clear that the central GST authorities, in collaboration with the State GST authorities
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, firm partnership, foreign income or any agricultural income of more than Rs 5,000.
