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In this post, we have completely summarised section 15(3) of the Central Goods and Service Tax Act 2017 which is concerned with the treatment of discounts under GST. Below, we discussed the various aspects of the supplied value which is not considered for the discount, and also understand section 15 (3) for a better perspective: […]
Through the GST, the goods and services are categorized in the Nil Rated, Exempted, Zero Rated, and Non-GST supplies. Let’s see what is the difference between them. Latest Update 09th August 2022 After the implementation of GST in India, Bihar and Uttar Pradesh have the highest digit of active and registered taxpayers who have paid […]
GST, Tamil Nadu state department has allotted a circular to permit updated registration to monitor and prevent bill traders. In the case of preventing the bill traders while permitting the new enrollments beneath GST, the Tamil Nadu Government as the portion of taking the precise corrective actions, authorizing the Jurisdictional Proper Officers viz., AC, STOs, […]
People used to invest in several tax schemes and avail the of tax deductions to diminish the overall tax payout. But the union budget 2020-21 has shown a new tax regime that provides the concessional rates with seven slabs with no tax exemptions, the old tax regime would be left popular because of several exemptions, […]
The Gujarat Authority of Advance Ruling (AAR) poses with Arun Richard and Atul Mehta who specified that 18% GST is subjected to pay on the car sale by the company post to using its business purposes. The petitioner, M/s. Dishman Carbogen Amcis Limited has brought a new car for Rs 80 lakhs dated 16-02-2018 for […]
The blocking of input tax credit) under GST would be affecting businesses all over the state. As the city is the financial capital of the state, the majority of businessmen of the city would get impacted by it. In front of the state, GST commissioner Lokesh Jatav several CAs, and tax consultants asked to resolve […]
In the current times, the reduction in the time limits towards furnishing the belated or amended income tax return (ITR) gives assessees a short duration to amend the accidental glitches or meet these timelines in the difficult positions. Until now, the former day to furnish the amended or belated return was Dec 31 of the […]
In this post, we aim to clear up any confusion or doubts surrounding income tax return filing and other tax-related queries. We have provided answers to some commonly asked questions to give taxpayers a better understanding of the process and potential tax benefits. Query: A person is in the Indian Army. Till last year, we […]
The problem of the transitional credit (TRAN credit) beneath the GST is under litigation with the two High courts-Kerala and Bombay settling it in favour of the taxpayer. The Kerala High court, in its order, rendered that the GST department for providing the amendment to Form GST TRAN-1 and filing Form GST TRAN-2 through making […]
