WEALTH TAX COMPUTATION

News

Direct Tax Collections grows 19.1 percent upto July 2017


The Direct Tax collections up to July 2017 in the Current Financial Year 2017 18 continue to register steady growth Direct Tax collection during the said period net of refunds stands at Rs 1 90 lakh crore which is 19 1 higher than the net collections for the corresponding period of last year This co

Extension of due date of GST returns


To be published in the Gazette of India Extraordinary Part II Section 3 Sub section i Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 20 2017 Central Tax New Delhi 08th August 2017 G S R E In exercise of the powers conferred by the su

25 percent growth in number of Income Tax Returns filed


25 growth in number of Income Tax Returns filed in current fiscal Advance Tax Personal Income Tax collections up by 41 As a result of demonetization and Operation Clean Money there is a substantial increase in the number of Income Tax Returns ITRs filed The number of Returns filed as on 05 08 2017 s

Income tax offices to remain open till midnight today


In view of the difficulties faced by taxpayers the due date for filing of Income Tax Returns for F Y 2016 2017 i e Assessment Year A Y 2017 2018 was extended to 5th August 2017 for certain categories of taxpayers In order to facilitate manual filing of returns of aforesaid categories on 5th August 2

Eighteen sectoral group under GST


The Goods and Services Tax GST Council in its 14th meeting held on 18 19 May 2017 approved the constitution of eighteen sectoral groups to ensure smooth roll out of GST The Council has received reports from sixteen out of the eighteen sectoral groups The GST Law Committee comprising of officers of t

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Experts Opinions

Gst on corporation tax


If any GST assesses gets reimbursement of corporation tax from other GST assesses which is higher than the amount actually paid on account of Corporation Tax In that case is the differential amount is taxable under GST Act Please confirm Also note that corporation tax is neither supply of goods nor

Gst on corporation tax


If any GST assesses gets reimbursement of corporation tax from other GST assesses which is higher than the amount actually paid on account of Corporation Tax In that case is the differential amount is taxable under GST Act Please confirm Also note that corporation tax is neither supply of goods nor

Mandi tax


What is the mandi tax and on which circumstances impose it and what is the rate of mandi tax

Taxability of lic policy surrender value


My client invested Rs 293000 during F Y 2006 in LIC Market plus scheme ULIP pension plan and surrendered it on 2011 after 5 years and received a amount of Rs 392000 from LIC Now Income tax officer taxed the entire amount of 392000 as income from other source as LIC maturity income Since he received

RCM tax rates clarification


At what rate RCM for rent and GTA goods transport agency is applicable I read somewhere 5 with no ITC 18 with ITC What does this mean In transport receipt transporter has mentioned his GSTIN this means he is registered so am I liable to follow RCM

Discussion

Tax audit

wheather tax audit is mandatory to the firm if there is loss after providing partner remuneration and interest

Rate of tax on selling of flats

GOOD AFTERNOON ALL I WANT TO PURCHASE THE FLAT AND ALSO ADVANCE 50K HAS BEEN GIVEN TO SELLER SELLER ASKED ME TO PAY GST 18 BUT I HEARD THAT THA RATE OF TAX 12 WHO IS CORRECT

Service tax demand liability

Hello All Can anyone explain me how to recognise the Service tax payment of previous financial years arising out of Demand notice The said liability was arised from ST demand of a particular FY However no such liability was recognised in the books The said payment has been done but kept under suspen

Immovable property service tax return

Payment period whether monthly or quarterly or yearly How much CGST or Dist is to be paid

Input credit from excise, vat & service tax

Sir we are having real estate business we are migrated from VAT to GST Before migrating we are in Compound Scheme in VAT But in GST we are registered as regualr dealer GST Council told that the delears can take input tax credit Can we take Excise duty paid on steel and cement Service tax paid on Lab

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File Download

  • GST Computation Sheet

    This excel sheet is useful for calculation of actual GST payable refund Users can use it on monthly basis as well
  • GST Tax Invoice Format

    GST Tax invoice format having formulas
  • Automatic Invoice Software in Excel (GST compliant)

    Full Fledge Billing Software for Business 1 Complete Billing Software 2 100 GST compliant with format published by GST Council 3 Retail and Tax Bill Bifurcation 4 Automatic applicable IGST CGST and SGST calulation 5 Transfer all bill data to another sheet automatically for analysis 6 Automatic Challan Generation 7 Perfect Print Setup 6 One Click Printing 7 One Click Back up of each invoice in different Folder 8 Back up will be retail bill wise and Tax Bill Wise 9 Completely working based on formula 9 Flexible Formulas 10 Full Customized 11 Client Database with each and every detail 12 No need to input details of party every time 13 only put x in the first column of database and all the details will be transferred to invoice sheet Filters will not work in trial version Pro Version 1 Automatically cloud backup of all invoices 2 Automatic GST rate calculator based on HSN Code will be available as soon as GST rates are published 3 Automatic GST rate calculator based on Name of Goods 4 Monthwise analysis of Party wise sales month wise IGST SGST CGST liability calculation 5 1 week trailing for GST return filing and this software with the fulfillment of the custom requirement of business 6 Automatic transfer of sales invoice data in the form of outward return of GST outward return is to be filled in form GSTR 1 every month 7 Free 1st GST return filing
  • Tax Connect (With GST) - 133rd Issue

    Tax Connect With GST 133rd Issue
  • ITC-Conditions to claim

    ITC GST

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Articles

Only Registered taxpayer have Freedom in GST!


Arjuna Fictional Character Krishna 15th August is the Independence Day of India Freedom fighter fought in 1947 for Independence of the country From last month GST has been applicable So on the occasion of this Independence Day what information about GST would you give Krishna Fictional Character Arj


Meaning of supply, time of supply and value of taxable supply


Meaning and Scope of Supply Q 1 What is the taxable event under GST Ans The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business The taxable events under the existing indirect tax laws such as manufacture sale or pro


Taxability of bonus received from cooperative society


Taxability of bonus in the hands of the members received from the co operative society Brief History Even before the Co operative structures came into existence the practice of the concept of the co operative societies was prevalent in various areas of the society To mark the first instance where th


Be alert about the new process of refund under the Income tax Act


Refund process under the Income tax becomes more stricter than earlier through the amended Section 143 1 A of the Income Tax Act The Income tax department is suspecting that most of the taxpayers are getting refunds by declaring the taxable income comparatively lesser than the issued Form 16 16A The


Huge impact of Exemption under Service Tax not continued in GST


There could be a number of service providers who are not updated on the GST law Some maybe hearing rumours that many changes are expected However 1 month has passed Those service providers who were enjoying the exemption would be in shock if they continue not to collect the GST applicable normally a


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Updated on : 8/16/2017 5:13:40 PM


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