rates of central sales tax

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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

Cabinet approves additional 1% DA to Central Govt employees


Cabinet approves release of additional 1 Dearness Allowance to Central Government employees and Dearness Relief to pensioners w e f 01 07 2017 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for release of additional 1 Dearness Allowance DA to Central Govern

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

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

Income tax returns


If I AM FILLING ITR 4 UNDER PRESUMPTIVE TAXATION BASIS AND FOR A PARTICULAR YEAR IF I FILE ITR 3 WHOULD MY PRESUMPTIVE BASIS TAXATION BENEFIT BE REVOKED FOR 5 YEARS I WONT BE ABLE TO FILE ITR 4 FOR THE PAST 5 YEARS AND I HAVE TO FILE ITR 3 FOR THAT PERIOD KINDLY REPLY AS SOON AS POSSIBLE THANKS IN A

Tax on long term lease on residential property


I am thinking of letting out my residential property on a long term lease for 50 lakhs property value 1 8Cr The lease period will be for 5 years The amount will be returned back after the lease period The monthly rental for this property in the market is 40K I am planning to invest this amount in my

Vat deposit & advance tax (10000+25000) rs in trans 1 ??????


I have filed and submitted TRANS 1 by process of TRANS 1 Credit Carried Forward State UT Tax Balance of ITC of VAT and Entry Tax in last return That now showed a 25000 rs balance in Electronic Credit Ledger But How about another 10000 rs SECURITY DEPOSIT WHAT SHOULD I DO FOR THAT GSTR 1 of July is a

tax invoice


invoice date is of august bill received along with goods in september when we will take ITC In august or in september In which month GSTR 3B we will take ITC

Discussion

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

Icai professional ethics for tax auditors

Do professional ethics issued by ICAI apply to tax auditor of a firm note I m talking about a firm not a Company I m talking about tax audit and not statutory audit My question is can a tax auditor of a firm be deemed guilty of professional misconduct

Gstr 3b payment of tax

Sir I have tax liability of rupees 21862And available itc is rupees 14650Now my question is it is mandatory to create a challan of 21862 14650 and make payment of tax to file gstr 3B Without paying the tax liability before filing the gstr 3b GSTR 3B will be file or notPlz help

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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


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


Vodafone deal: Tax dept. seeks over Rs. 32,000 crore from Hutchison


One of the most controversial economic issues in the last five years was the tax dispute between Vodafone and the tax department The case originated after the revenue s tax department notice to Vodafone that the company has to pay a capital gains tax of nearly Rs 11000 crores from its purchase of Hu


RCM in case of GTA Services and rate of tax payable


Sr No 1 of notification under Central Tax and Sr No 2 of notification under Integrated Tax provides that tax will be payable by the recipient of service in respect of services provided by GTA to specified person The entry in both the notification reads as follows Category of Services Supplier of ser


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Updated on : 9/18/2017 6:41:13 AM



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