Clipped from: https://www.thehindubusinessline.com/opinion/small-businesses-how-tax-payments-will-change-under-qrmp/article34245565.ece The Quarterly Return filing and Monthly Payment of taxes (QRMP) scheme came into force on January 1, 2021, under GST. It is expected
Category: GST
Limited e-invoicing window a worry for small and medium companies | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/limited-e-invoicing-window-a-worry-for-small-and-medium-companies-121032900007_1.html The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses
Law and language – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/law-and-language/article34239308.ece Since our laws are drafted in the English language, the grammar of the language comes into play a lot. The bill of entry
GST to be levied on underlying goods/services in gift vouchers: AAAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-to-be-levied-on-underlying-goodsservices-in-gift-vouchers-aaar/article34236750.ece?homepage=true Says GST law recognises vouchers as an instrument of consideration (non-monetary form) for future supply Clearing the air over taxability of gift cards
Commercial real estate developers urge govt to not levy 18% GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/commercial-real-estate-developers-urge-govt-to-not-levy-18-gst/articleshow/81849597.cmsSynopsis Instead of outright purchase of land, developers are now looking to enter into a joint development agreement where both landowner and developer share
Confusion over when to levy GST on gift vouchers and gift cards finally gets cleared – The Economic Times
lipped from: https://economictimes.indiatimes.com/small-biz/gst/confusion-over-when-to-levy-gst-on-gift-vouchers-and-gift-cards-finally-gets-cleared/articleshow/81906915.cmsSynopsis Levying Goods and Services Tax (GST) on gift vouchers and gift cards has been a complicated matter that may just have been eased
Confusion over when to levy GST on gift vouchers and gift cards finally gets cleared – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/confusion-over-when-to-levy-gst-on-gift-vouchers-and-gift-cards-finally-gets-cleared/articleshow/81884612.cmsSynopsis Levying Goods and Services Tax (GST) on gift vouchers and gift cards has been a complicated matter that may just have been eased
A dive into five contentious issues contained in Finance Bill, 2021 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/a-dive-into-five-contentious-issues-contained-in-finance-bill-2021-121031000706_1.html Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term ‘liable to tax’ and taxability of interest
GST dilemma: Contradictory AAR rulings leave industry perplexed | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst%E2%80%88dilemma-contradictory-aar-rulings-leave-industry-perplexed-121040201286_1.html States like Punjab and Delhi have reported delays in disposing of AAR applications. An auto company with a presence in 20 states of
CBDT allows tax audit report revision in case of disallowance recalculation, notifies rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbdt-allows-tax-audit-report-revision-in-case-of-disallowance-recalculation-notifies-rules/articleshow/81871912.cmsSynopsis Section 40 refers to amounts that are not deductible while computing income chargeable under profits and gains of business or profession, while Section
‘GST mop-up of over ₹1-lakh cr for 6 straight months is no coincidence’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-mop-up-of-over-1-lakh-cr-for-6-straight-months-is-no-coincidence/article34217059.ece System has enabled honest assessees to pay taxes without any problem, says Tarun Bajaj, Secretary, Economic Affairs and Revenue The GST collection of
What is HSN Code? How does it work? All you need to know–THE ECONOMIC TIMES
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/understanding-hsn-code/articleshow/81832442.cmsSynopsis The Finance Ministry has said that businesses with a turnover of more than Rs 5 crore have to show a six digit HSN
CBIC extends customs duty and integrated GST exemptions till March 31, 2022 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/cbic-extends-customs-duty-and-integrated-gst-exemptions-till-march-31-2022/articleshow/81830735.cmsSynopsis The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday extended the basic customs duty and integrated goods and service tax exemptions
E-invoicing on track to becoming a foolproof mechanism – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/e-invoicing-on-track-to-becoming-a-foolproof-mechanism/article34208076.ece Deciphering whether a particular concept is working well under GST law is simple — the Central Board of Indirect Taxes and Customs (CBIC)
New Income tax rules 2021: Tax on PF interest, reduction in time limit of ITR filing, other changes–economic times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/tax-on-pf-interest-pan-aadhaar-non-linking-fine-other-money-rules-that-change-from-april-1/articleshow/81759692.cmsSynopsis With the start of the new financial year on April 1, various tax and money rules come into effect. Here is a look
Six digit HSN code in GST made mandatory from April 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/six-digit-hsn-code-in-gst-made-mandatory-from-april-1/articleshow/81780235.cmsSynopsis A taxpayer having turnover of upto Rs 5 crore in the preceding financial year is required to furnish 4 digits HSN code on
Five key changes in I-T laws, GST to come into effect from April 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/five-key-changes-in-i-t-laws-gst-to-come-into-effect-from-april-1/article34198775.ece Employees Providend Fund, ULIP, TDS, re-opening of assessment, benefits for senior citizens to see changes Significant changes in both Income-Tax as well as
The CBIC is being pummelled – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-cbic-is-being-pummelled/2223534/The IRS cadre is said to be short by over 2,000 officers, while other executive levels have over 18,000 vacancies. Every field formation works
GST collection: Nearly half of full-year target achieved; Govt sets eyes on next year revenues – The Financial Express
Clipped from: https://www.financialexpress.com/economy/gst-collection-nearly-half-of-full-year-target-achieved-govt-sets-eyes-on-next-year-revenues/2222575/ Shrugging off the disruption caused during the initial months of the current fiscal due to COVID-19-induced lockdown, the government has collected total gross
Limited e-invoicing window a worry for small and medium companies | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/limited-e-invoicing-window-a-worry-for-small-and-medium-companies-121032900007_1.html The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses
aniltikotekar4sme.com 