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The Authority for Advance Ruling, Karnataka has recently held that the difference between the buying price and the selling price of second-hand jewellery shall be the base value for levying the Goods and Services Tax (GST). Experts believe that the aforesaid ruling shall bring a lot of clarity on various aspects of taxation and shall […]
The Finance Act, 2000 has incorporated numerous amendments along with introductions. One such example is the introduction of the new tax regime. Though it seems chaotic, in essence, it is one of the revolutions in the area of tax. The Finance Minister has announced the new tax slab rates for the: Latest Update Who Can […]
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 […]
It has been a month since the launch of the new web portal of the Income Tax Department which has been designed and developed by software giant Infosys, but technical glitches are still persisting while accessing the web portal of the I-T Department and that too after the finance minister has headed the meeting on […]
On the biodegradable materials and on the friendly materials a higher GST is liable to pay which is the harder to use the cutlery made of bagasse e (pulpy fiber extracted from sugarcane juice) for serving and parcels. 18% GST is liable on the bagasse while people who use the plastics in restaurants are liable […]
We must have heard about the era of the Industrial Revolution, the IT era and so on. But what about this era? This is an ‘Era of Transparent taxation’ or in other words ‘Era of Tax reforms’. The reason attributed to the new ‘era of Transparent Taxation’ or ‘era of tax reforms’ is the blend […]
In a customer-centric approach, the world’s biggest e-commerce company Amazon has now rolled out the facility of “Bill to Ship” which is basically providing GST credit from across the states even if the Amazon Business customer had only one GSTIN in a single state. This move has been taken to offer a better indirect office […]
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 […]
