Direct Tax Updates: The cuts are being sought by both the direct and indirect tax departments. Direct tax officials are going to ask for a cut in their collection target by Rs 60,000-70,000 crore or 4.3-5.1 per cent of the figure in the interim Budget for 2019-20, for overall yearly growth of 15 per cent. …
Indirect Tax Updates: Gujrat High Court in the matter of Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat orders release of goods being perishable on furnishing security by way of bond under GST. Companies can claim input tax credit (ITC) under the goods and services tax (GST) regime even if the liability to pay …
Indirect Tax Updates: GST was implemented with effect from 1/7/17 i.e. after the completion of 3 months from commencement of F.Y. 17-18, Due to above the F.Y. 17-18 was a mix of accounting policies/procedures/compliances for two different Tax Mechanism periods: 1-4-17 to 30-3-17 (pre GST period) 1-7-17 to 31-3-18. RBI Updates: The Reserve Bank of …
Direct Tax Updates: CBDT releases draft New FORM No. 10B and rule 17B: Amendment of Form No 10B of the Income-tax Rules, 1962– Draft notification for inputs from stakeholders and the general public. Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. …
The income tax Due date for filing returns for the Financial year 2018-2019 is 31 July 2019. So, Provide all required Documents for filling your Income-tax Return AY 19-20 as soon As possible. the penalty of Rs 5,000 will be charged for returns filed after the due date but before 31st December. If returns are …
Direct Tax Updates: Income-tax authorities do not want to let go the revenue dues owed by shell companies that have been deregistered by the MCA. CBDT to file the restoration application with the National Company Law Tribunal (NCLT). MCA will support their stand. Indirect Tax Updates: Gujrat High Court in the matter of Neuvera Wellness …
Indirect Tax Updates: CBIC has come out with another set of frequently asked questions (FAQs) to clear the air on GST on real estate If you’ve got an occupancy certificate (OC) for your house before April 1 this year, the payment of pending dues would draw 12% GST rate and the builder will be able …
Indirect Tax Updates: CBIC comes out with another set of Frequently Asked Questions (FAQs) to clear the air on GST on Real Estate. If you’ve got an Occupancy Certificate (OC) for your house before April 1 this year, the payment of Pending Dues would draw 12% GST rate and the builder will be able to …
Indirect Tax Updates: The Goods and Services Tax (GST) Council has added flexibility into the way a company can utilize the available input tax credit. Any company would now be eligible to use credit available against paid integrated GST (IGST) to set off tax liabilities of state GST (SGST) and central GST (CGST) in any …
Corporate and Professional Updates on 6th May 2019 Indirect Tax Updates: The Delhi High Court has directed the Goods and Services Tax Council to review the tax structure for solar power projects. The decision was in response to a writ filed by the Solar Power Development Association, which had challenged the latest tax formulation for …