Tax Updates
Tax Updates January 2020 – 15.01.2020 1.Possibility of Banks, Telcos, Insurers to get an exemption from GST E-invoices: (a). A possibility is that Banks, airlines, telcos and other entities that have direct customer interaction on a large scale may be exempted from filing their e-invoices under GST; (b). Exemption from e-invoices is benefit to those …
Tax Updates January 2020 – 13.01.2020 1. Income tax rule 10DA and rule 10DB amended by the Central Board of Direct Tax. These amendments will be applicable from 1st April 2020. These rules pertain furnishing of information and maintenance of documents by the Constituent Entity of an international group. For more details Notification No. 03/2020-Income …
Tax Updates January 2020 – 09.01.2020 1. 2nd National GST Conference held for streamlining GST system – The multi-faceted Conference was focused on a brainstorming session for streamlining the Goods and Services Tax (GST) system and plugging revenue leakages. Following measures were decided to take the necessary action:- a). For examine and implement quick measures …
Input Tax Credit on Capital Goods under GST Hi Readers, in this Article we will discuss provisions related to Input tax credit on Capital Goods under GST. We also discuss the provisions related to Reversal of ITC on Capital Goods under GST. Before starting, one must familiar with the definition of Capital Goods under GST. …