Tax Updates
CA IPCC Revision Test Papers (RTP) for May 2017 Benefit of Revision Test Paper (RTP) With the help of RTP, students can understand standard of answers expected in the examination. RTP provides an opportunity for the students to find latest amendments and notifications relevant for the examination. Most of times Institute asking questions from RTP …
How to response Cash Deposit Notice Income tax department (ITD) has been started to send notice in respect of cash deposited by a person during the period of 09th November to 30th December 2016. Around 18 lakh persons have been identified by ITD whose cash transaction does not match with tax payer’s income tax profile. …
Highlights of Budget 2017 Impacting Salaried Persons A. Change in Tax Slabs and tax rebates: – 1. A new tax rate of 5% will be applicable for individuals having total income from 2.5 lacs to 5 lacs. 2. An additional surcharge @10% will be applicable for individuals having total income in the range of 50 lacs …
E-Commerce and GST Provisions in India Hello readers! In this article, we will give you a brief about the E-Commerce and GST Provisions in India and the impact of GST on E-Commerce industry. As you know, E-Commerce can be described supply of goods or services through electronic channels such as Amazon and flipkart etc. They …
Time of Supply of Goods / Services under GST In GST law, liability to pay CGST/SGST on the Goods / Services shall arise at the time of Supply of Goods / Services. In this Article, we will understand that how to determine time of supply for Goods / Services. 1. General Provision Time of Supply …
Increased in ESI Wage Limit from 15,000 to 21,000 Employees State Insurance Corporation increase Wage Limit from 15,000 to 21,000 to bring more workers under ESI Scheme. Notification in this regard has been issued on 22nd December 2016 by Ministry of Labour and Employment. Rules in respect of increased in wage limit shall come force …
GST Enrolment Schedule: – As information provided from www.gst.gov.in, Goods and Service tax enrolment Scheme has already started from 08/11/2016 as per schedule as prescribed in different states as below: States Start Date End Date Puducherry, Sikkim 08-11-2016 23-11-2016 Maharashtra, Goa, Daman and Diu, Dadra and Nagar Haveli, Chhattisgarh 14-11-2016 30-11-2016 Gujarat 15-11-2016 30-11-2016 Odisha, …
Composition Levy GST – Eligibility, Rate of taxation and Limitation Eligibility – As per Section 10 of GST Law, a registered taxable person whose aggregate turnover in the preceding financial year did not exceed Seventy Five lakhs then he has an option to pay tax under composition levy instead of Normal tax regime. Rate of tax …
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