interest rate on late payment of service tax

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Issues arising from implementation of MAT on IAS compliant companies


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Issues arising from the implementation of Minimum Alternate Tax MAT provisions relating to Indian Accounting Standards Ind AS compliant companies Finance Act 2017 amended the provisions of section 115JB of th

Impact of GST on Civil Aviation Sector


Under the GST regime the applicable tax rate on economy class passenger tickets has been reduced from 6 to 5 non creditable for goods while the tax rate on business class has been increased from 9 to 12 with input tax creditable for both goods and services procured by airlines Petroleum products inc

Case study on birth of GST released


The Union Finance Minister Shri Arun Jaitley releases a Case Study on the Birth of the Goods and Services Tax GST in India The GST Saga A Story of Extraordinary National Ambition in national capital today A Case Study on the birth of the Goods and Services Tax GST in India The GST Saga A Story of Ex

GST Offline Tool to collate and upload the invoices


Returns Offline Tool Version V1 0 Download extract and run the GST Offline Tool to collate and upload the invoices and other data in offline mode Downloadgst offline tool zip will contain following four files Sample files Offline Tool User Manual Readme GST Offline Tool 1 Read the file Readme txt be

NRI to submit foreign bank details only in refund cases


Optional reporting of details of one foreign bank account by the non residents in refund cases Refund generated on processing of return of income is currently credited directly to the bank accounts of the tax payers Availability of the detail of bank accounts in which the refund is to be credited is

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Experts Opinions

Format to raise invoice for services rendered


I have registered with GST eventhough my services are not laible to tax due to the threshlod limit I render training services i want to know the format to raise an invoice in my case can i raise a Bill of Supply instead of a tax invoice

Incometax returns


Sir Please answer my query I am a new contractor indulged in construction of row houses My construction of row house was completed in the month of June 2016 which was started in April 2015 but the sale of the row house was made in June 2017 So while filing the returns for the year f y 2016 17 should

Rent payment for office


We have office and ware house on rent We should GST and take credit as owner is not registered under GST Is 20 lac limit applicable

Income tax head confusion


In which head income calculate Income received from Germany based Sports company for promotion sports and blogs on Twitter by indian resident school boy aged 19 years other source income or 44ADA

Salary income , interest income and shot term capital gain


Request you to kindly guide I have a Salary Income Interest Income and Shot Term Capital Gain Which form should for income tax return Till last year filled ITR 1

Discussion

Availability of cenvat credit of service tax

Dear Sir what is the time limit for availability of cenvat credit of service tax in my company we have cenvat credit balance service tax input for last 5 years we have not utilised cenvat credit bcoz we areexempt service provider but from april 2017 according to service tax notification now we are l

Incorporate warehouse address in iec

Dear Experts Weare registered as a manufacturer Principal place of buisness and additional place of buisness warehouse in GST Portal We have not added our warehouse in IEC Code Whether we can incorporate our warehouse address in our IEC Code Please advice Thanks Regards

Itc on cab services

Good Morning Can we avail ITC on cab services which istax paid by the receiver under RCM

Electronic verification code for efiled income tax return

Hi 1 Would like to know if I can log in tohttp incometaxindia gov in income tax website and partially fill in the ITR 2 and leave it in draft or on incometax website and when I long on next continue from the same and complete it Does Income Tax Website website allow for completing partialy ITR 2 for

Job work rate

Dear All kindly let me know the Rates of Job Work on Cloth Garment seperately as Embroidery IF i m Sending Cut garments than it should be 18 but if i m sending Fabric in Mtrs in Bulk than it should be 5 as I Understand and came to know from various Articles Kindly let me Know Please i m Stuck in thi

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Latest updates and progress in GST


No deduction of tax at source TDS under Income Tax on GST on Services component The Central Board of Direct Taxes CBDT videCircular No 23 2017 dated July 19 2017clarified that wherever in terms of the agreement or contract between the payer and the payee the component of GST on Services included in


No TDS on GST when it is Shown Separately in the Invoice


Central Board of Direct Taxes CBDT had issued Circular No 1 2014 dated 13 01 2014 wherein it was clarified that TDS under Chapter XVIl B of the Income Tax Act 1961had to be deducted on the amount paid or payable without including Service Tax component ifservice tax component comprised in the amount


Cash Transactions - Legal Backup(Income Tax)


Income Tax Provisions on Cash Transactions Section 269ST AND 271DA Section 40A 3 Section 269SS AND Section 271D Section 269T AND Section 271E Section 43 1 Section 269ST AND 271DA 269ST This section is attracted when Any Person receives cash more than 2 lakhs from any person From Same person in a day


What is GST E-Way Bill and How E-way Will Generate?


What is an e way bill GST e way bill is an electronic bill which will be required for the movement of goods in case the value of the goods are above 50 thousand rupees The bill can be generated from the GSTN portal and every registered taxpayer must require this e way bill along with the goods trans


Fast track insolvency process of corporate person


SECTION 55 58 OF THE INSOLVENCY AND BANKRUPTCY CODE 2016 READ WITH Fast Track Insolvency Resolution Process for Corporate Persons Regulations 2017 CHAPTER II PART II OF THIS CODE Procedural Manner CHAPTER VII PART II OF THIS CODE Offences penalties Note The Insolvency and Bankruptcy Board of India I


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Updated on : 7/26/2017 11:30:26 AM


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