Posted On:  5 months ago


100 Key Highlights of Union Budget 2018 presented by FM Arun Jaitely FY 2018-19

No changes in person tax structure for salaried class and No change in Slab Rates 1.44 lakhs crores paid by salaried tax payers.  Standard deduction of Rs 40,000 for salaried taxpayers, in lieu of transport and medical reimbursements for salaried classes Govt will have a scheme to give every enterprise in India a unique ID

article author CA Chirag Chauhan

Posted On:  5 months ago


Refund of unutilised Input Tax Credit (ITC)

Refund of unutilised Input Tax Credit (ITC)

article author One Roof Consultant

Posted On:  5 months ago


Casual taxable person in GST

“Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.

article author One Roof Consultant

Posted On:  9 months ago


Registration exemption for ‘Inter-state Supply of Handicrafts’ notified by CBEC

The persons making inter-State taxable supplies mentioned in the preceding paragraph shall be required to obtain a Permanent Account Number and generate an e-way bill in accordance with the provisions of rule 138 of the Central Goods and Services Tax Rules, 2017.

article author One Roof Consultant

Posted On:  9 months ago


GST FAQ on TEXTILE

Raw jute has been kept at NILL rate of GST i.e. there would be no tax on jute .therefore, as per section 23(1)(a)of the CGST Act ,2017 the supplier dealing only in raw jute are not required to register. Jute mile s are not required to pay tax under Reverse Charge Mechanism (RCM) as mentioned under section 9(4)of the CGST Act,2017

article author CA Chirag Chauhan

Posted On:  10 months ago


MGST: Amendment to Notification No. 11/2017 – State Tax (Rate) to reduce SGST rate on specified supplies.

No. MGST-1017/C.R.140(A)/ Taxation-1.— In exercise of the powers conferred by sub-section (1) of section 9, sub-section (1) of section 11, sub-section (5) of section 15 and sub-section (1) of section 16 of the Maharashtra Goods and Services Tax Act, 2017 (XLIII of 2017), the Government of Maharashtra, on the recommendations of the Council,

article author One Roof Consultant

Posted On:  1 year ago


FAQs on Overview of Goods and Services Tax (GST)

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer

article author One Roof Consultant

Posted On:  1 year 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:  1 year ago


Withdraw BCD exemption, available to specified fabrics

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section

article author One Roof Consultant

Posted On:  1 year ago


Enrolment under the new Goods and Service tax (GST) law

I am an existing taxpayer registered under Excise, Service Tax and State Tax Laws such as VAT, Entry Tax, Luxury Tax and Entertainment Tax. I received SMS/ E-Mail with Provisional ID and Password. What are next steps for me? How do I begin to enrol with the GST Common Portal with Provisional ID and Password? All the existing taxpayers and VAT dealers will be given a provisional ID and password. You need to first create your user name and password using the provisional ID and password at the GST common portal – www.gst.gov.in

article author One Roof Consultant

Posted On:  2 years 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:  2 years 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:  2 years 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:  2 years ago


Companies (cost records and audit) Amendment Rules, 2016

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 2013} (hereinafter referred as the Act), the Central Government hereby makes the following rules further to amend the Companies (cost records and audit) Rules,2014, namely

article author CS Perila Sheth

Posted On:  2 years ago


TEXPROCIL members can also seek clarification on duty free import entitlement

Seeks to further amend notification No. 12/2012-Customs, dated 17.03.2012 [S. No. 284A] so as to provide that the manufacturer or merchant-exporter, referred to therein, may also be registered with the Cotton Textiles Export Promotion Council(TEXPROCIL), in addition to Apparel Export Promotion Council or the Synthetic and Rayon Textile Export Promotion Council and may seek certification from any of the aforesaid bodies for the purposes of availing duty free import entitlement under the said entry.

article author One Roof Consultant

Posted On:  2 years ago


Crowd Funding In India an emerging and innovative online platform

Crowdfunding is a way to raise money, awareness and support for a project, from the people around you. It's means of funding that allows individuals to make their ideas a reality with the power of the crowd. Crowdfunding, a popular concept started in the US and the UK, is an emerging way of raising capital, entails the use of internet or social networking sites such as Facebook or LinkedIn or Twitter or even some dedicated websites. So, if you want to raise funds, what you are required to do is create an online profile and explain your project

article author Hitesh Shah

Posted On:  2 years ago


Levy of excise duty on readymade garments and made articles of textiles bearing a brand name or sold under a brand name and having a retail sale price of Rs. 1000 or more

Representations have been received from the trade regarding the scope of the levy of excise duty on readymade garments and made articles of textiles bearing a brand name or sold under a brand name and having a retail sale price of Rs. 1000 or more in this year’s Budget.

article author One Roof Consultant

Posted On:  2 years ago


THE MIDDLE MAN PARADISE

How hoarders and traders are benefiting in the current market scenario explained though WPI and CPI parameters

article author Sarthak Bhansali

Posted On:  2 years ago


Highlights of Maharashtra Budget 2016

Highlights of Maharashtra Budget 2016

article author Sumit Gupta

Posted On:  2 years ago


Payment of Bonus Act – Applicability, Eligibility, Disqualification, Payment of Minimum and Maximum Bonus

This article gives an overview on basic provisions, purpose, object, applicability, eligibility, disqualifications, Payment of minimum & maximum bonus, award, banking company, co-operative society, corporation and also principle behind fixing a minimum and maximum limit for payment of bonus

article author One Roof Consultant