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TCS at 1 percent only applicable on cash portion of sale


Circular No 23 2016 F No 370142 17 2016 TPL Government of India Ministry of Finance Department of revenue Central Board of Direct Taxes TPL Division Subject Amendment in Section 206C of the Income tax Act vide Finance Act 2016 In order to curb the cash economy Finance Act 2016 has amended section 20

Mere transfer of title in immovable property is exempted from Service Tax


In order to resolve a long standing issue relating to levy of Service Tax on sale of flats dwellings etc after issue of occupancy certificate but before issue of completion certificate in areas under the jurisdiction of Municipal Corporation of Greater Mumbai i e Brihanmumbai Municipal Corporation B

Conditions for digitally signed invoices in excise and service tax


Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 18 2015 Central Excise N T New Delhi the 6thJuly 2015 G S R E In pursuance of sub rule 5 of rule 10 and sub rule 9 of rule 11 of the Central Excise Rules 2002 made under section 37 of th

Government sets up committee to devise the Producer Price Index


The government has set up a committee to devise an all new barometer called the Producer Price Index as it is readying to consign the Wholesale Price Index to history months after Reserve Bank of India started giving more importance to the upgraded Consumer Price Index as a gauge of inflation

More Services Bought in the Service Tax Net, Indirect Taxes to Yield Rs.7525 Crore


To broaden the tax base in Service Tax sale of space or time for advertisements in broadcast media has been extended to cover such sales on other segments like online and mobile advertising Announcing the tax proposals the Finance Minister Shri Arun Jaitley said during his maiden budget speech that

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Experts Opinions

Income from sale of land capital gain or business income


I HAVE THIS QUERIS ON THIS TOPIC 1 ANY PERSON WHO SOLD ANCESTRAL LAND BY DIVIDING IN SMALL PLOT INCOME FROM THIS TRANSACTION HIS INCOME WILL COSIDER AS CAPITAL GAIN OR BUSINESS INCOME 2 AFTER SALE OF RURAL AGRICULTUER LAND BY PLOTTING INCOME WILL COSIDER AS BUSINESS INCOME OR CAPITAL GAIN OR FULLY E

Applicability of output tax on job work sale


there is an industries of fabric dyeing Received fabric from party on challan for job work Fabric dyeing after job work raising sale invoice to party My question is that any Output tax VAT or CST will be applicable while raising sale invoice to party

Procedure of sale from sez to dta


Advice Procedure of Sale from SEZ to DTA

Tcs on cash sales


Dear Experts We are proprietor concern having turnover more than 5 cr Some of our parties deposit cash in our bank directly there are 7 8 parties they deposit 40 45 thousand in our bank account we dispatch goods against that payment bill amount is also 40 45 thousand But the cash receipt in bank fro

Tds on sale of property


If property is sold then when TDS is to be deposited after agreement or sale deed

Discussion

Urgent reply required from sales tax

Dear All We are manufacturers and our product rate of tax in TNVAT is 14 5 We are supplying our items to defence sectors to interstates We have asked for concessional tax 5 TN govt we gotclarification that we can supply the items 5 Also we have sold to interstates like bangalore rate of 5 for past 5

Itr 2 - sale of 2 non - agricultural lands sepereately

Hi Experts My friend has purchased and sold 2 sites in bangalore in the same financial year 2015 2016 is it required to show seperately the cost of acquisition and full value of consideration received or we can consolidate both the sites values in the cost of acquistion and sale value in CG sheet I

Treatment of capital gain tax on sale of esop

Dear All Can any body help me to understand the tax treatment on sale of ESOP with any example

Sez to dta sales invoice

Please give me Invoice copy of SEZ to DTA sales Advice which tax applicable to SEZ to DTA and SEZ to SEZ Sale

Sale of input at cost by manufacturer is it trading?

A manufacturer of goods sold the input raw material at cost to vendor Considering the same as trading activity the Central Excise department disallows input service tax CENVAT The departments contention is that there was trading activity However manufacturer has contended that it was sale of inputs

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File Download

  • New Mvat Cst e Return Preparation Utility (Maharashtra VAT)

    Now Prepare New Sales Annexure Purchase Annexure easily from your data base please watch video on you tube https www youtube com watch v tqoPcyi9sF8 Generate New MVAT e Template directly from this utility Download Demo version link given in ReadMe file attached here
  • MIS reporting format of performance for small business.

    Management information system reporting or MIS reporting is a set of data compiled and presented to management This information is helpful in analyzing the business situation and decision making for different level of management Different department may use different kinds of reports to analyse and decision making Generally small organisation will prepare the MIS report to analyse the performance of the organisation in terms of sales expenses and profitability In this excel sheet MIS report of profit and loss statement can be prepared on monthly basis Monthly Plan and actual can be compared for analysis By selecting the options in the left side different report can be viewed to analyse the performance For More details http www excelhub org 2016 06 mis reporting format of performance for html more
  • Service Tax Invoice with Krishi Kalyan Cess

    Attached file is a free version of Service Tax Invoice with Party Master with newly introduced Krishi Kalyan Cess w e f 01 06 2016 You can either keep records of Party in Party master sheet or directly provide customer name address in Invoice sheet You can also calculate VAT If it is not applicable delete that cell Exshail Software
  • Latest Service Tax Invoice Format

    Format Service Tax Invoice
  • TCS on cash sale of goods or services

    a brief note on TCS on cash sale of goods or services whcih has been made applicable from 01 06 2016

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Articles

Farmers free to "sale" Commission agent / Traders in TDS "trail"


Arjuna Fictional Character Maharashtra Government has changed the working system of farmers Commission agents as well as traders What are the consequences of this in relation to income tax Krishna Fictional Character Arjuna India is agriculture oriented country For getting fair market prices and cus


TDS on sale of property @1% under Section 194IA


TDS on sale of property The buyer of an immovable property land flat apartment shop or a bungalow which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government The prevailing withholding tax is deducted at source and is 1 of the consideration payable to the seller It i


Burden of TCS on sale or purchase in cash?


Arjuna Fictional Character Krishna the government has brought the provision of TCS Tax Collected at Source on sale of every product or service in income tax and everywhere a debate or discussion on it is going on What exactly is there in this TCS provision adsbygoogle window adsbygoogle push Krishna


Welcome clarification from Govt for TCS on cash sales


Its wonderful to have clarification vide circular no 23 20169 dt 24thJune 20016 from Government Government had clarifiedliability to collectTax at Source TCS from customer willonly and onlyarise if amount ofsales consideration received to us in Cash exceeds Rs 2 Lakh Through this it is very clear no


Exemption from KKC where invoice raised and services completed prior to 01.06.2016


Central Government vide Notification No 35 2016 ST dt June 23 2016 has exempted taxable services with respect to which the invoice for the service has been issued on or before May 31 2016 from the whole of KKC leviable thereon subject to condition that the provision of service has been completed on


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Updated on : 8/8/2016 2:42:09 AM


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