Sale for Audit under GST Q 1. What is the turnover that should be reckoned to determine the applicability of audit under GST? Ans. Section 35(5) commences with the expression “every registered person whose turnover during a financial year exceeds [Read More]
Due dates for the Month of July 2019 7th Income Tax – TDS Payment for June 10th GST – Return for authorities deducting tax at source – GSTR 7 for June – Details of supplies effected through e-commerce operator and [Read More]
Supply under GST in light of latest amendment Introduction: Goods and service tax as defined under Article 366(12A) of constitution is any tax on supply of goods or services or both except taxes on the supply of the alcoholic liquor [Read More]
GST on real estate sector GST Update GST Council in the 34 meeting held on 19 March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33 meeting for lower [Read More]
Point to be consider while assessing tax of partnership firm Important points: 1) Some expenses in the hands are firm are taxable in the assessment of their partner. Such expenses are interest on capital of the partners, remuneration etc paid [Read More]
Treatment of sales promotion scheme under GST The Central Government vide Circular No. 92/11/2019-GST dated 07th March, 2019 clarified the following issues raised with respect to tax treatment of sales promotion schemes under GST :- Modes of sales promotion prominent [Read More]
Government Reduces the Rate of ESI Contribution from 6.5% to 4% The Government of India has taken a historic decision to reduce the rate of contribution under the ESI Act from 6.5% to 4% (employers’ contribution being reduced from 4.75% to 3.25% [Read More]
Due dates for the Month of June 2019 7th Income Tax – TDS Payment for May 10th GST – Return for authorities deducting tax at source – GSTR 7 for May – Details of supplies effected through e-commerce operator and [Read More]
Due dates for the Month of May 2019 7th Income Tax – TDS Payment for April 10th GST – Return for authorities deducting tax at source – GSTR 7 for April – Details of supplies effected through e-commerce operator and [Read More]
Employees’ State Insurance (Central) (Amendment) Rules, 2019 G.S.R. 121(E).—The following draft of certain rules further to amend the Employees’ State Insurance (Central) Rules, 1950 which the Central Government, after consultation with the Employees’ State Insurance Corporation, proposes to make in exercise [Read More]