Posted On:  3 months ago


Suggestions from the Industry and Trade Associations for Budget 2017-18 regarding changes in direct and indirect taxes.

In the context of formulating the proposals for the Union Budget of 2017-18, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same. 2. Your suggestions and views may be supplemented and justified by relevant statistical information about production, prices, revenue implication of the changes suggested and any

article author One Roof Consultant

Posted On:  3 months ago


Know all about Tax Planning – What, Why and How?

Tax planning can be defined simply as planning your cash outflow towards payment of taxes in legitimate manner most beneficial to you. It draws attention to “Payment of taxes”, here question to be answered is how one can reduce that taxes or one can postpone it to future date using tax planning tools. “Legitimate Manner” means it should not be tax evasion using illegal tools of tax saving and hiding certain transactions.

article author CA Chirag Chauhan

Posted On:  3 months ago


Goods and Services Tax Bill

is a national Value Added Tax to be implemented in India from 1st of April 2017. This a comprehensive indirect tax covering both supply of Goods and services ranging from manufacture, production, sale and consumption throughout India. The introduction of Goods and Services Tax (GST) would be a significant step in the reform of indirect taxation in India.

article author CA NITIN HARGUDE

Posted On:  4 months ago


Does the attempt to cover excise goof-up in States counts out all Union territories from CG's power to levy Indirect taxes to meet GST Deadline??

Explanation issued by CG in light of Section 19 to rescue its power to levy indirect tax might cover up the states but it counts out all the union territories.

article author Akhil Gupta

Posted On:  4 months ago


FAQs on Frontend Business Process on GST Portal as per Goods and Service tax (GST)

Goods and Services Tax Network (GSTN) is a non-profit non-government company, which will provide shared IT infrastructure and service to both central and state governments including tax payers and other stakeholders. The Frontend services of registration, Returns and payments to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.

article author CA Chirag Chauhan

Posted On:  4 months ago


FAQs on Meaning and Scope of Supply as per Goods and Service Tax (GST)

The taxable event under GST shall be the supply of goods and / or services made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services shall stand subsumed in the taxable event known as ‘supply’.

article author CA Chirag Chauhan

Posted On:  4 months ago


FAQs on Overview of Goods and Services Tax (GST)

This article provide an overview about Goods and service tax, various concepts relating to GST. It clarifies the concept of destination based tax on consumption, which taxes will be replaced by GST

article author CA Chirag Chauhan

Posted On:  4 months ago


G.S.T - one nation, one tax in brief

In today’s article we will share some basic details of G.S.T being ONE NATION, ONE TAX. G.S.T is much politically talked & debated topic in the recent past. In fact, it has also got lots of attention from around the world apart from the common peoples of India.

article author CA BHAVESH HINGU

Posted On:  5 months ago


GIST OF GST

HRESHOLD EXEMPTION OF GST IS RS 10 LAKHS  means now all the small traders also covered under GST. So here are some of the provisions of GST... to be continued with some other and very important concepts of GST till then enjoy and keep smiling

article author Esha Agrawal

Posted On:  5 months ago


GST - Game Changer

I have complied summary on GST. It will be worth to read.After a decade-long struggle, the Goods and Services Tax (GST), which has already been adopted by 160+ countries in some form or the other, sailed over the first of three hurdles when the Rajya Sabha unanimously adopted the Constitution Amendment Bill to facilitate its legislation.

article author Hitesh Shah

Posted On:  5 months ago


Understanding Goods and Service tax

The taxation system in India is composed of various taxes on different activities and governed by various Tax Laws and Regulations. The taxes are levied on various types of activities such as manufacturing, trading, services, imports etc., In indirect tax structure the ultimate bearer of tax is not the person, who is paying the tax but the end users or customers who are using various products and services. The Indirect Tax Structure includes following taxes;

article author CS Deepak Pratap Singh

Posted On:  5 months ago


FAQs on Goods and Service tax(GST) its basics and how it works

GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set- off benefits at all the previous stages.

article author CA Chirag Chauhan

Posted On:  7 months ago


DVAT Rewards Scheme for Dealer

Delhi VAT: Reward/Appreciation scheme for dealers GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES: VYAPAR BHAWAN I.P.ESTATE: NEW DELHI -110 002 No. F.3(632 )/Policy/VAT/2015/PF/363-69 Dated: 10-06-2016

article author PANKAJ KUMAR SHARMA

Posted On:  10 months ago


Taxation of Business Model for E Commerce – Equalization Levy on Specified Business Transaction

A Committee on Taxation of e-commerce was constituted by Central Board of Direct Taxes (CBDT) to examine the business models for e-commerce. The Report of the Committee was received by the Government and taken into consideration in the preparation of Finance Bill, 2016. This Report provides the view of the Committee on issues related to taxation of e-commerce & recent international developments in this area.

article author CA Chirag Chauhan

Posted On:  10 months ago


How bank loan defaults affects common man?

INR 9000 crore Kingfisher bank loan default became eye opener for entire banking sector and also industrialists. Point to be noted here is not only this large institutions affected by this even common man get affected by this defaults.

article author CA Nikesh Sheth

Posted On:  11 months ago


Changes under Service Tax Proposed in Finance Bill 2016

1) Service tax another surcharge from 01st June 2016- “Krishi Kalyan Cess” – 0.5 % . Thus Service tax now effectively will be 14%+0.5%+0.5% = 15 % 2) Legal Service now removed from Reverse Charge Mechanism and brought to direct Service Tax at above effective rate from 01st April 2016.

article author One Roof Consultant

Posted On:  11 months ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2016-17 Budget 2016

The Budget has made no significant change for Tax Rates for Individuals. The Individuals who earn income of Less than 5 Lakhs rupees will get Rs 5000/- as Tax rebate under section 87A.

article author CA Chirag Chauhan

Posted On:  11 months ago


100 Key Highlights of Union Budget 2016 presented by Arun Jaitely

Union Budget is presented by Arun Jaitely Today. Following are the Key Changes in The Budget from the Finance Minister Speech

article author CA Chirag Chauhan

Posted On:  11 months ago


Recapitulation of errors that need instant rectification!

With the budget round the corner, the Department of Ministry of Finance is flooded with the representations conveying the expectations, suggestions, amendments and clarifications in the laws to be implemented in the forthcoming budget. Although, the list of expectations and amendments needed is never ending, but this article is penned to highlight the changes expected by the assesses in indirect taxation laws which if not considered, may create difficulties in doing business in an easy manner thereby refuting the motto of ‘ease of doing business’.

article author CA PRADEEP JAIN

Posted On:  1 year ago


PROPOSED REFUND PROCESS UNDER GST – HAPPINESS ON THE WAY TO EXPORTERS

Goods and Services Tax (GST) is said to be the most awaited indirect tax reform of India since independence. Due to much hyped advantages, the industry is eager to welcome GST and so is the Government. On the way forward to GST, government has issued the ‘Report of The Joint Committee on Business Processes for GST’ for the persual of industry at large. Suggestions have also been invited for the improvement of business processes discussed in this report. The report is divided into three parts namely GST Registration, GST payment process and GST refund process. In this piece of diction, we have tried to give an insight of the third part of this report namely “GST Refund process”.

article author CA PRADEEP JAIN