Tax Updates
Bitcoins Taxability in India Hi Reader, in this Article we will understand the Bitcoins Taxability in India i.e. how to pay tax on Bitcoins in India. Before we start we have to understand that what Bitcoins is. Bitcoins – Bitcoins is virtual currency and considered more secure than real money. Bitcoins was the first ever …
Transaction value Under GST with example Hi Readers, in this Article we read the concept of Transaction value under GST with examples. As we know that GST will be charges on transaction value. If transaction value is not correctly determined then GST will not be correctly calculated and deposited which cause unnecessary further burden to …
Must Know Valuation rule under GST with examples Hi Readers, in this Article we read about must know valuation rule under GST with examples. As we know that GST will be charges on transaction value. If transaction value is not correctly determined then GST will be wrong calculated and deposited which cause unnecessary further burden …
Valuation Rule in respect of odd Nature Supplies. Hi Readers, in this Article we read valuation rule in respect of odd nature supplies such as purchase or sale of foreign currency including money changing, booking of travel by air, Life insurance business, buying or selling of second hand goods and Value of Token or voucher …
HSN Code Wise GST Goods Rate Chapter/Heading/Sub Heading/ Tariff item Description of Goods GST Rate % Compensation Cess 0303 Fish, frozen, excluding fish fillets and other fish meat of heading 0304 5 Nil 0304 Fish fillets and other fish meat (whether or not minced), frozen 5 Nil 0305 Fish, dried, salted or in …
Basis Concept of Reverse Charge Mechanism in GST Hello Readers! In this article, we will understand the Basis Concept of Reverse Charge Mechanise in GST. As we aware that generally supplier is liable to collect and deposit the tax to Government. However, under the Reverse Charge Mechanism Recipient of supply of Goods or Services is …
Reminder Chart Statutory Due Dates Statutory Due Date for the month of February 2019 February 2019 7th February Due date for payment of Tax Deducted / Collected for the month of January 2019. 10th February Filing of GSTR – 7 for the month January 19 for taxpayers who is required to deduct TDS under …
GST SAC Code List GST SAC Code List – NEW SCHEME OF CLASSIFICATION OF SERVICES Heading & Group Service Code (Tariff) Service Description Construction Services Heading No.9954 Construction services Group 99541 Construction services of buildings 995411 Construction services of single dwelling or multi dewlling or multi-storied residential buildings 995412 Construction services …
GST Input Tax Credit – Eligibility, Conditions, Apportionment and non-availability A. Eligibility – Every registered person shall be eligible to take input tax credit in respect of input tax charges on any supply of goods or services or both, which are used or intended to be used in the course or furtherance of his business. …
Key points of transitional Provisions under GST Act. 1. Migration of Existing taxpayers. (Section 139) On and from the appointed day, every person registered under any of the existing Indirect tax law and having a Valid PAN shall be issued a certificate of registration on provisional Basis. Provisional registration can obtain directly by applying for provisional registration …
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