ajay jain tax notes

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Seventh amendment to the CGST Rules, 2017


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 34 2017 Central Tax New Delhi the 15th September 2017 G S R E In exercise of the powers conferred by

MOU between MCA and CBDT for automatic exchange of information


MOU between the Ministry of Corporate Affairs and Central Board of Direct Taxes CBDT for Automatic and Regular Exchange of Information Taking forward the initiative launched by the Government of India to curb the menace of shell companies money laundering and black money in the country and prevent m

CBDT asked to include service charge while assessing tax


CBDT has been asked to consider inclusion of Service Charge while assessing tax Shri Ram Vilas Paswan Shri Ram Vilas Paswan Union Minister for Consumer Affairs Food Public Distribution told that in order to check the levying of Service Charge compulsorily CBDT has been asked to consider inclusion of

FAQ and MCQ on GST by ICAI


Levy and Collection of Tax FAQs Scope of supply Section 7 Section 7 of the Central Goods and Services Tax Act 2017 the CGST Act 2017 or the CGST Act made applicable to IGST vide Section 20 of the Integrated Goods and Services Tax Act 2017 the IGST Act 2017 or the IGST Act and UTGST vide Section 21 o

Direct Tax Collections upto August grows by 17.5%


Direct Tax Collections up to August 2017 in the current Financial Year 2017 18 show Growth of 17 5 The Direct Tax collections up to August 2017 in the current Financial Year 2017 18 continue to register a steady growth Direct Tax collections net of refunds stands at Rs 2 24 lakh crore which is17 5 h

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Experts Opinions

Tax payment


Dear Experts We have raised invoice by charging 18 gst in the month of August however we have recd only 30 payment from the party till 15 sept the supply of service is already completed this 30 is not an advance So weather we have to pay GSt on 30 i e amt recd or on Invoice Amt Regards Priyank

Asset purchased with gst tax where it is reflects


Sir I had purchased Air cooler in the Name of the Company issued invoice with GST Tax it is not our commodity where I want to show in GSTR returns if I am not showing it will effect in GSTR 2 how can I accept please clarify these doubt Thanking you

Input tax credit is available on pest control services


sir we are taking services of pest control in my factory and he is giving gst bill Is input tax credit is available on pest control services

Extra tax relief under chapter via/80ccd


Dear Sir Madam Have any option to get extra tax relief besides 80C The Senior citizen like to invest any pension scheme where from under 80CCD allowed Rs 50 000 as extra Then his deduction under 80C 1 50 000 50 000 under 80CCD Please advice have any option to get relief in any scheme allowed above r

Salary taxable or not?


Hi friends Please help me on this issue A person working outside India in a German company receives salary in his NRE account or Indian bank account What will be the tax consequences in India a in case he is resident in India b in case he is non resident in India

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Munish bhandari law amendments notes

I am having handbook of Munish bhandiri handbook applicable for May 2017 Can you please share the amendment notes for Nov 17 and also audit amendments notes by surbhi bansal for CA Final Thanks in advance

Conference on Tax Aspects of Business Reconstructions, Acquisitions and Family Settlements

PHD Chamber is organizing a Conference on Tax Aspects of Business Reconstructions Acquisitions and Family Settlements on Wednesday 27th September 2017 from 02 00pm onwards at PHD House New Delhi The Conference aims to promote an informed dialogue on important issues of Business Reconstructions Acqui

When to Avail ITC of Tax (Cash) paid on RCM Basis?

What I know I know that the liability of Reverse Charge cannot be set off with ITC and can be only paid in cash Further if other conditions are satisfied such tax paid on RCM basis is also available for payment of output tax liability other than RCM as ITC Statutory Provisons Section 2 82 output tax

Salary taxable or not?

Hi friends Please help me on this issue A person working outside India in a German company receives salary in his NRE account or Indian bank account What will be the tax consequences in India a in case he is resident in Indiab in case he is non resident in India

Entry for GST tax payments

sir I have paid tax for Cgst RS 2000 and Sgst RS 2000 what entry is made in tally please give me entry

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Amendment & type of Tax payable in GTA Service


I Determination of type of tax payable where the service availed form GTA As we aware if the supplier of goods or services and place of supply of goods or services are located in same State then CGST and SGST of that State is payable However if the supplier and place of supply are located in differe


Eligibility of input tax credit with respect to Motor Vehicle


Section 17 of the Central Goods and Service Tax CGST Act deals with Apportionment of credit and blocked credits wherein Clause 5 of the said Section provides for restriction of credit It is pertinent to note that section 17 5 of the Act start with Notwithstanding anything contained in sub section 1


Tax audit not applicable for Turnover less than 1 crore


Section 44 of Income Tax Act 1961 essentially deals with sections related to audit presumptive taxation and special provisions related to computation of income for business purpose Till FY 2015 16 eligible assesses having turnover less than Rs 1cr and net profit less than 8 cannot were not allowed t


Some important notes before finalising TRAN-1 even if already filed


Some useful points before finalizing TRAN 1 practical point of view 1 Rule 117 1 Provided further that where the inputs have been received from anExport Oriented Unitor aunit located in Electronic Hardware Technology Park the credit shall be allowed to the extent as provided in sub rule 7 of rule 3


Real Estate Development Agreements, Share Valuation & Charitable Trusts : Recent Tax Amendments


1 Taxation of Capital Asset under Development Agreement with Builder 1 1 In recent past it has quite been a trend that individual plot house owners enter into some development agreement with builders whereby in a typical agreement the builder demolish the old house and constructs a new multistory bu


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Updated on : 9/18/2017 1:01:26 PM



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