Do you want to keep an Arm’s Length Distance from the Income Tax Department? Obviously the Answer is YES!!! But the question here is HOW??? *Here are a list of expenses/ investments, which at any point of time performed by you may invite undue attention
GST AND DELHI ECONOMY- DELHI PROFESSIONALS AND TRADE HAVE TO START UNDERSTANDING, APPRECIATING AND IMPLEMENTING GST LAW INTO THEIR BUSINESSES RIGHT FROM THE WORD GO. THE LIKELY SECTORS WHERE IMPACT WILL BE HIGH, MY TAKE FEELS, ARE AS FOLLOWS 1. Infrastructure: Works contract is now
GST and Petroleum Sector-Will non-inclusion of Petroleum Products in GST cause inflation? Yes, say the experts. We are the third largest consumer of crude oil with a consumption of 4.2 million barrels per day (calendar year 2015 data). US top and China is number second.
The requirement of registration in GST- There can be various instances to generate the liability to take registration in GST. Turnover is one of the criteria. In some cases, registration may be mandatory even without any outward supply. Let us elaborate on all these scenarios.
Type of returns in GST We all know that in last meeting of GST council it adopted some draft rules. Format for GSTR were also one of them. Return forms in GST have changed and now take care to refer only amended forms. Here we
Day one of third meeting of GST council was quite productive. Matters of prime importance were discussed and the consensus was made on some of them. Four rate tax structure: GST council has agreed to a four rate tax structure wherein 6% will be the
As the crucial three-day meeting of the GST Council, comprising state finance ministers, starts Today- As the crucial three-day meeting of the GST Council, comprising state finance ministers, starts Today, here is a look at the the agenda and key challenges before the council. Agenda
Impact of GST on IT sector IT services will definitely get taxed at a higher rate than the prevailing Service Tax rate of 14.5%. Thus prima-facie it appears that cost of IT services would jump, especially for end customers who do not claim input credit.
Impact of GST on Importers and Exporters We are seventh largest economy in the world and presumably fastest growing. Imports and exports both show economic growth and the trends in domestic Indian demand for goods and services. GST will change the way of doing business
