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The ‘blocked credits’ under GST (Goods and Services Tax) is affecting the malls and hotels and regarding this, the Delhi High Court issued a notice on 20th May 2019 to the Centre and Delhi government. Under the section 16 of the GST Act for the ITC (Input Tax Credit) has a provision that gives the […]
The CBIC (Central Board of Indirect Taxes and Customs) has said that 12 per cent of GST must be paid by the home buyers compulsorily and this is only for those who have to give the amount to the builder and whose housing project got the completion certificate before 1st April 2019. The CBIC issued […]
Post-GST and e-way Bill, it has been noticed that there has been increasing of 10 to 15 per cent of the distance of the trucks as compared to the pre-GST period. This increment is benefiting in reducing the cost of the logistics. Mahindra Logistics said this statement after noticing the decline in the demand for […]
Currently, there is a turbulence in the minds of car dealers, as the tax authorities are not leaving any stone unturned to curb the government’s revenue loss. Time has arrived for the car dealers to be investigated by the Indirect Tax authorities. The surveillance is all about the discounts and freebies offered by major car […]
AMC stands for Annual Maintenance Contract. AMC provides security on all the components let that be the large manufacturing machine of the company or the basic components like the printer or the computer. It gives the benefit of repair and maintenance to such products and the time period of the contract might vary from 1 […]
In a report on Monday, it has been said that to promote the tourism sector, the government should simplify the hotel GST rates and must encourage the private participation because it has a huge potential to further increase the jobs and economic growth. By the year 2029, the Indian tourism sector could see a growth […]
The high court of Telangana recently ordered that no individual or taxpayer will be getting input tax credit until unless he had filed the GST returns. Also, the court has said that in case he had missed the return filing he is liable to pay the penalty on the tax amount. This would impact the […]
A smart humanitarian step regarding GST elimination on the equipment, including wheelchairs, crutches and hearing aids by an 11 years old schoolboy.
The provision under Section 80C and 80D of the Income-tax Act is that specified taxpayers could claim for deductions to the Insurance company on the total amount paid to them for specified insurance schemes.
