Posted On:  5 days ago


GST FAQ on Government Services

These include services provided by government or a local authority or governmental authority by way of any activity in relation to any function entrusted to a municipality under Article 243W of the Constitution and services by a governmental authority by way of any activity in relation to any function entrusted to a Panchayat under article 243G of the Constitut

article author CA Chirag Chauhan

Posted On:  5 days ago


GST on Charitable and Religious Trusts

The provisions relating to taxation of activities of charitable institutions and religious trusts have been borrowed and carried over from the erstwhile service tax provisions. All services provided by such entities are not exempt. In fact, there are many services that are provided by such entities which would be within the ambit of GST.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


Effective GST grievance redresal mechanism needed

The weekly newsletter which is otherwise issued on Fridays was postponed for today so as to cover part of the proceedings of the two days Rajaswa Gyan Sangam which was held on 1st and 2nd September 2017.

article author One Roof Consultant

Posted On:  1 month ago


Monthly Summery of MCA for the month of July, 2017

A circular was issued to clarify that exemption from section 143(3)(i) of Companies Act, 2013 [reporting on internal financial controls by auditors in their audit reports] given through notification dated 13th June, 2017 shall be applicable for those audit reports in respect of financial statements for financial years commencing on or after 01/04/2016, which are made by auditors after the date of such exemption notification. (General Circular No. 08/2017 dated 25.07.2017).

article author One Roof Consultant

Posted On:  1 month ago


If you love your country, know why you should celebrate Independence Day by paying your taxes honestly!

We Indians are proud of our country and always show our love and affection towards it by celebrating Independence Day with flag hoisting, viewing parade, posting messages on what’s app, facebook and other social media, singing patriotic songs and the national anthem, and finally by listening speech of the Prime Minister of India. Leaders and many prominent celebrities will comment on various government policies and changes government should implement to make India a better place for next generation.

article author CA Chirag Chauhan

Posted On:  1 month ago


Right of Children to Free and Compulsory Education (Amendment) Act, 2017

The following Act of Parliament received the assent of the President on the 9th August, 2017 and is hereby published for general information:— An Act further to amend the Right of Children to Free and Compulsory Education Act, 2009.

article author One Roof Consultant

Posted On:  2 months ago


Process and documents required for Education Loan

Anyone who has secured an admission into an approved course in India or elsewhere is eligible for an Educational Loan. The bank manager has discretion in approving the loan based on the student's academic performance and the expected employment opportunities for the course.

article author CA Chirag Chauhan

Posted On:  3 months ago


Sign the Petition - Disability goods to be taxed at zero rate in GST

The Finance Minister, Shri ArunJaitleyon 6 June 2017 stated on social media that daily consumer goods being used by the common man among others to become cheaper after GST.  Ministry of Finance stated that day-to-day commodities will attract zero GST after the indirect tax regime is rolled out on July 1

article author CA Chirag Chauhan

Posted On:  4 months ago


Exempt Services under GST in India from May 2017

Services by Government or a local authority excluding the following services— (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;

article author CA Chirag Chauhan

Posted On:  6 months ago


FAQs on Frontend Business Process on GST Portal

Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services to both central and state governments including tax payers and other stakeholders. The Frontend services of Registration, Returns, Payments, etc. to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.

article author One Roof Consultant

Posted On:  6 months ago


Why you need to pay Advance tax before 15th March?

Advance tax is the payment of income tax which is paid in advance. Instead of paying in a lump sum at the end of the year, it is paid in advance. It is paid in four installments as per the prescribed due dates. The income tax department prescribes due dates for advance tax payment. Advance tax is payable only on estimate basis. While computing liability for advance tax, income-tax calculated on the current income estimated by the assessee shall be reduced by TDS deducted / TCS collected, MAT /AMT credit, relief under tax-treaty. After making payment of first/second installment of advance tax, the assessee can revise the remaining installments of advance tax in accordance with his revised estimate of current income and pay tax accordingly. Advance tax is based on the principle of “pay as you earn”. It is collected even before the income tax becomes payable and the installments are payable during the financial year itself. Advance tax receipts help the government to receive a constant flow of tax receipts throughout the year so that the expenses can be incurred rather tha receiving all the tax payments at the end of the year.

article author CA Chirag Chauhan

Posted On:  6 months ago


Financial and Tax planning Gift for Women on their very own day – Happy Women Day!

A woman’s best security is a little money of her own. Demonization proved all theories of women being spenders wrong, by finding lacs in savingof Rs 500 and Rs 1000 notes, saved from reimbursement received for household expenses. We have a very small percentage of salaried women in India. Most women in urban areas do a brilliant job of self-employment ranging from tutoring, handicraft, small trade etc

article author CA Chirag Chauhan

Posted On:  7 months ago


RBI keeps policy repo rate unchanged at 6.25 percent

Global growth is projected to pick up modestly in 2017, after slowing down in the year gone by. Advanced economies (AEs) are expected to build upon the slow gathering of momentum that started in the second half of 2016, led by the US and Japan. However, uncertainty surrounds the direction of US macroeconomic policies with potential global spillovers. Growth prospects for emerging market economies (EMEs) are also expected to improve moderately, with recessionary conditions ebbing in Russia and Brazil, and China stabilising on policy stimulus. Inflation is edging

article author One Roof Consultant

Posted On:  8 months ago


Income Tax Slab Rates for Financial Year 2017-18 Assessment year 2018-19

This article will give full detail about the slab and flats rates that are applicable for the Assessment year 2018-19 for each person whether company, HUF or individual.

article author CA Chirag Chauhan

Posted On:  8 months ago


The Finance Bill 2017 - Union Budget

At the time of presentation of the Annual Financial Statement before the Parliament, a Finance Bill is also presented in fulfillment of the requirement of Article 110 (1)(a) of the Constitution, detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget. It also contains other provisions relating to Budget that could be classified as Money Bill. A Finance Bill is a Money Bill as defined in Article 110 of the Constitution. It is accompanied by a Memorandum explaining the provisions included in it.

article author CA Chirag Chauhan

Posted On:  8 months ago


Budget Speech by Finance Minister Arun Jaitely 1 Feb 2017 FY 2017-18

our Government was elected amidst huge expectations of the people.The underlying theme of countless expectations was good governance.  The expectations included burning issues like inflation and price rise, corruption in day to day transactions and crony capitalism. There was also expectation for a major change in the way the country’s natural resources were allocated, processed and deployed.

article author CA Chirag Chauhan

Posted On:  8 months ago


100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

article author CA Chirag Chauhan

Posted On:  8 months ago


Classification of articles of paper and printing industry

Representations have been received from trade associations that consequent upon insertion of Chapter note 14 (w.e.f 28.05.2012) to the Chapter 48 of Central  Excise Tariff Act, 1985 disputes have cropped up in respect of classification of  certain articles of paper and printing industry. Also, reports received from field formations suggest that there is divergent practice of assessment of these goods.

article author One Roof Consultant

Posted On:  8 months ago


Donald Trump sworn in as 45th US President. Read the Complete inaugural Speech

Friends, delegates and fellow Americans: I humbly and gratefully accept your nomination for the presidency of the United States. Together, we will lead our party back to the White House, and we will lead our country back to safety, prosperity, and peace. We will be a country of generosity and warmth. But we will also be a country of law and order.

article author One Roof Consultant

Posted On:  8 months ago


Initiatives taken by Government to promote use of mobile/e-banking for cashless transactions

The Public Financial Management System (PFMS) is a web-based online software application, developed and implemented by the o/o CGA with technical support of NIC. The primary objective of PFMS is to facilitate a sound Public Financial Management System for Government of India (GoI) by establishing an efficient fund flow system as well as a Payment cum Accounting network. PFMS provides various stakeholders with a real time, reliable and meaningful Management Information System and an effective Decision Support System (DSS), as part of the Digital India initiative of GoI.

article author One Roof Consultant