Posted On: 5 months ago
Best 8 tax saving option in 80C available today
Every year we look forward for tax deduction under section 80C. Rather than investing in last moment do make proper analysis before investing so that you can earn expected returns. Following is the Ranking based on research conducted.
CA Chirag Chauhan
Posted On: 5 months ago
Update on GST refund of IGST and Input tax credit
Exporters have been complaining about delay in grant of refunds pertaining to Integrated Goods and Services Tax (IGST) paid on goods exported out of India and similarly Input Tax credit (ITC) on exports. There are media reports with exaggerated estimations of refund amounts which are held up for the period July to October
One Roof Consultant
Posted On: 5 months ago
Latest GST Return Due Dates and requirement to file GSTR 3B and GSTR 1
Aggregate annual turnover of taxpayers upto 1.5 crorein accordance to the revised due dates are to file their returns on quarterly basis whereas, Aggregate annual turnover of taxpayers beyond 1.5 crore in accordance to revised due dates are required to continue their filing process on monthly basis
CA Chirag Chauhan
Posted On: 5 months ago
Which mutual fund NFO you should invest?
There are three new Mutual Fund Launch of NFO in November 2017. The Stock markets has generated a return of over 30% in last one year time. Most of the mutual fund has performed well. The biggest question is should you invest in Mutual fund now? The probable answer is yes, provided you can hold on till 3 to 5 years.
One Roof Consultant
Posted On: 5 months ago
Now you can log Complain if Restaurant is charging GST more than 5%
The Government is in GST Council meeting held on 10 November 2017 has decided to reduce rate on 150+ items. The major change was in relation to restaurants service provider. The rate on restaurant was 18% which was reduce to just 5% The reduction is effective from today 15 November 2017. Goods and Services Tax (GST) rates on Restaurant’s will be 5% from existing 18% from
CA Chirag Chauhan
Posted On: 7 months ago
CLSS: Under The Realty Radar
Credit Linked Subsidy Scheme (CLSS) aims at giving an impetus to the middle-income group in order to realise its home-buying dream
CA Chirag Chauhan
Posted On: 7 months ago
On Blockage of Working Capital of Exporters
There are lots of apprehensions expressed in the media about the problem of blockage of working capital for exporters’ post-GST. There are various figures also being discussed on the blockage of such funds, which are wild estimates. Such media reports are not based on facts
CA Chirag Chauhan
Posted On: 7 months ago
CLARIFICATION ABOUT TRANSITION CREDIT
There are lots of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as transition credit, the income of Government this month has plummeted.
CA Chirag Chauhan
Posted On: 7 months ago
Lodging of tax arrear claims and impleading as a party before NCLTs
Recently, a case has come to the notice wherein the Hyderabad Bench of NCLT has passed an order under section 30(6) and 31 of IBC-2016 allowing various reliefs under the Income Tax Act without even making the Department a party to the dispute. The steps to contest the same are being initiated separately.
One Roof Consultant
Posted On: 7 months ago
Companies (Restriction on number of layers) Rules, 2017
If any company contravenes any provision of these rules the company and every officer of the company who is in default shall be punishable with fine which may extend to ten thousand rupees and where the contravention is a continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which such contravention continues.
One Roof Consultant
Posted On: 7 months ago
UTGST Rate on Works Contract Services provided to Govt. for non commercial purpose
A residential complex predominantly meant for self-use or the use of their employees or other persons specified in paragraph 3 of the Schedule III of the Central Goods and Services Tax Act, 2017.
One Roof Consultant
Posted On: 7 months ago
IGST Rate on Works Contract Services provided to Govt. for non commercial purpose
Services provided to the Central Government, State Government, Union Territory, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration
One Roof Consultant
Posted On: 7 months ago
On Branded Food Products & amp.; Actionable Claim
The GST Council, in its 21st meeting held on 9th September, 2017at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc.
CA Chirag Chauhan
Posted On: 7 months ago
CBEC reduces CGST rate on specified supplies of Works Contract Services
CBEC Seeks to amend notification No. 11/2017-CT(R) to reduce CGST rate on specified supplies of Works Contract Services vide Notification No. 24/2017-Central Tax (Rate) dated : 21st September, 2017
One Roof Consultant
Posted On: 7 months ago
Guidelines for division of GST taxpayers between Central & state govt
Based on the decisions taken in the 9th Meeting of the GST Council held on 16 January, 2017 and 21st Meeting of the GST Council held on 9 September, 2017, the following criteria should be followed for the division of taxpayer base between the Center and the States to ensure single interface:
One Roof Consultant
Posted On: 7 months ago
TDS on interest under Capital Gains Accounts Scheme of deceased depositor
TDS oh the interest income accrued for and upto the period of death of the depositor is required to be deducted and reported against PAN of the depositor.
One Roof Consultant
Posted On: 7 months ago
GST: Clarification on one third deemed deduction on transfer of Land
Real Estate projects based on Joint Venture Agreements entered into by a Developer and a Land Owner, if otherwise legal and proper as per the governing laws, are also eligible for the deemed deduction as specified in para 2 supra. However the said deemed deduction is not available for units transferred to the Land Owner by the Developer.
One Roof Consultant
Posted On: 7 months ago
Constitution of National Anti-profiteering Authority under GST
The Rules on anti-profiteering are contained in Chapter-XV (Rule 122 to Rule 137) of the Central Goods and Services Tax Rules, 2017 (Rules). As per Rule 122 of the Rules, the National Anti-profiteering Authority (NM) shall, apart from a Chairman, consist of four Technical Members who are or have been Commissioners of State Tax or Central Tax or have held an equivalent post under the existing law, to be nominated by the GST Council.
One Roof Consultant
Posted On: 7 months ago
The West Bengal Goods And Services Tax Act, 2017
WHEREAS it is expedient to make a provision for levy and collection of tax on intra- State supply of goods or services or both by the State of West Bengal and the matters connected therewith or incidental thereto
One Roof Consultant
Posted On: 7 months ago
EPFO revises composite Pension Payment Order form
The Central Provident Fund Commissioner has approved a composite Pension Payment Order form (copy enclosed) replacing the existing Pension Payment Order. The Information Services Division has made requisite changes in the application Software to replace the existing Pension Payment Order with the revised Pension Payment Order.
One Roof Consultant