indirect taxes problems

News

Reduced tax liabilities under GST regime for 89 items


The new indirect tax regime in the country is to come into effect from 01 07 2017 wherein fixation of GST rates on the supplies is joint responsibility of the Central and State governments after the approval from the GST Council In a majority of supplies of goods the tax incidence approved by the GS

Enrollment as GST Practitioner


Dear Professional Colleagues The new indirect tax regime Goods Services Tax GST is all set to roll out with effect from July 1 2017 Section 22 of the Central Goods Services Tax CGST Act 2017 lays down the list of persons who are liable for registration under the GST regime and Section 24 of CGST Act

CBDT notifies new Safe Harbour Regime


In order to reduce transfer pricing disputes to provide certainty to taxpayers to align safe harbour margins with industry standards and to enlarge the scope of safe harbour transactions the Central Board of Direct Taxes CBDT has notified a new safe harbour regime based on the report of the Committe

IPC taxation paper bifurcated in two sections


It may be observed that currently Paper 4 Taxation of Intermediate IPC examination covers questions from both Direct and Indirect Taxes Candidates are required to write their answers thereon on a single answer book It has now been decided to bifurcate the above mentioned Paper 4 Taxation of Intermed

GST to be examined for 10 marks in CA Final Nov IDT paper


Sub GST TO BE EXAMINED FOR 10 MARKS IN PAPER 8 INDIRECT TAX LAWS IN NOVEMBER 2017 FINAL EXAMINATION Considering the significance of the upcoming GST regime and the recent developments towards its implementation the Council of ICAI at its 365th meeting has decided that students appearing in November

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Experts Opinions

taxes for joint development agreement


QUESTION is with regd to land owner share of apartments in a joint development agreement right now there is no VAT but there is service tax on land owners share if sold after getting comepletion certificate what will be the impact of GST on same right now VAT is on material and service tax is on lab

indirect tax related


please can anyone provide example of calculation of effective tax incidence from manufacturer to ultimate consumer on buyer under current tax regime and try to incorporate cst if possible

Returns and due date of returns & payments of taxes


I was earlier filing service tax return of my client under reverse charge of GTA service nbow which return form to be filed under GST and what information will be needed

Indirect tax


Can anyone share a printable version of supplementary study material of indirect tax for the current attempt The file in the institute site is a protected version so couldn t print for my comfortability It would be helpful if someone share me on this regard

Job work taxes


Hello Sir Good morning My client is doing plastic injection molding job work He receives material from customer just process it and send back to customer What type of tax would be applicable on it Please help

Discussion

Indirect taxation paper in final exam vs gat paper

Hi Final Students ICWA is having Indirect Taxation Paper in final exam If GST comes on July2017 then I strongly believe Indirect Taxation Paper will be removed and GST will come to picture in ICWA Please let me have other s real time opinion and feedback with respect to such replacement Adv thanks C

other taxes

what about other taxes such as vat CST etc

Taxes after gst

What is the total taxes and breakup applicable for car rental business after implementation of GST Is there any cess applicable Will KKC and SBC be applicable It will be helpful if you canexplain with an example of Bill amount of Rs100 Thank you for reading the question and your answers

Taxes Rates on Sports Goods

Please let me know what s the Tax Rate on sports goods All items included shoes cricket assessories etc

What is taxesion on new opening wholesale shop of clothing

My friend starting a wholesale clothing storedoes c have to get gst numberiam also planing for retail store on fashionwearhow to get gst i guess c mainley buying clothing without paying taxes kacha bill of 80 of valuewhat is the thing She should be carefull about

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  • GST Top 10 Questions

    Example Of GST Calculation Frequently Asked Questions About GST Bill What are final GST rate slabs What are CGST SGST and IGST What are the differences between the UPA s GST and the NDA s GST What are the taxes that GST replaces What will be the short term impact of GST When will GST be implemented What is a constitutional amendment What are the finer points in the implementation of the bill What is the Empowered Committee What will become costlier and cheaper
  • CA Final - Indirect Tax applicable syllabus for Nov 2017

    Ca Final Indirect Tax applicable syllabus for Nov 2017
  • Clarification on SFT by CBDT

    Press Information Bureau Government of India Ministry of Finance 26 May 2017 12 21 IST Central Board of Direct Taxes CBDT Issues Clarification on furnishing Statement of Financial Transaction SFT SFT Preliminary Response Section 285BA of the Income tax Act 1961 requires furnishing of a Statement of Financial Transaction SFT for transactions prescribed under Rule 114E of the Income tax Rules 1962 The due date for filing such SFT in Form 61A is 31st May 2017 In case there are reportable transactions for the year the reporting person entity is required to register with the Income Tax Department and generate Income Tax Department Reporting Entity Identification Number ITDREIN The same can be generated by logging in to the e filing website https incometaxindiaefiling gov in with the login ID used for the purpose of filing the Income Tax Return of the reporting person entity Entity having PAN can take only PAN based ITDREIN Entity having TAN can generate an ITDREIN only when such TAN s Organisational PAN is not available The registration of reporting person ITDREIN registration is mandatory only when at least one of the Transaction Type is reportable A functionality SFT Preliminary Response has been provided on the e Filing portal for the reporting persons to indicate that a specified transaction type is not reportable for the year Detailed procedure of ITDREIN registration and upload of Form 61A is available under the Help section and Form 61A utility and Schema are available under the download section of http www incometaxindiaefiling gov in and https www cleanmoney gov in Online filing of form 61A requires a valid class 2 or 3 digital signature certificate of person responsible for filing the same Please refer DSC Management Utility manual under help section on how to generate the signature file attaching the XML with signature and uploading of XML with signature file in e Filing portal
  • Suggested answers for Indirect Tax Laws (CA Final) Paper for May 17 Exams

    Suggested answers for Indirect Tax Laws CA Final Paper for May 17 Exams
  • Financial reporting - various chapters

    various chapters of financial reporting such as mutual fund share based payment value added statement this file contains variety of problems for practice all past exam questions study material questions practice manual questions last 20 RTP questions and other questions are compiled

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Articles

A brief introduction of taxes to be subsumed under GST


GST is all set to roll out from 1 July 2017 Broadly GST is referred as One nation one tax GST is one indirect tax for the whole nation converting India into the single unified market GST is a single tax on the supply of goods and services right from the manufacturer to the consumer Credits of input


Solved paper for CA Final Indirect Tax May 17 Exams


Q 1 a CNC India Ltd is engaged in the manufacture of machines It has supplied one machine to M s Advaith India Ltd At a price of Rs 11 25 000 excluding excise duty VAT Cash discount 3 on price of the machinery is allowed to M s Advaith India Ltd Further following additional amounts as indicated belo


How to be proactive on your potential financial problems?


Most of today s problems are yesterday s challenges overlooked It is always considered a wise thing to perceive problems before they arise and attend to them at the earliest By doing so you will be spared from the trouble you may have to undergo in the later stages Here are few pointers to assist yo


How & When to pay Taxes under GST?


Under the GST laws a taxpayer shall use the common portal which will compute the tax payable by the assessee on the basis of the information of outward supply furnished by him Further in case of reverse charge mechanism the tax payable shall be computed on the basis of information of outward supply


CA IPCE Amendments in Indirect Taxation


Basic Concepts of Indirect Taxes UNIT 2 Central Excise Duty 1 Excise duty of 1 without CENVAT credit or 12 5 with CENVAT credit has been levied on articles of jewellery excluding silver jewellery A jewellery manufacturer will be eligible for exemption from excise duty on first clearances upto Rs 10


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Updated on : 6/19/2017 10:55:35 PM


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