International Tourist under GST Tourist meaning under IGST act – As per section 8 of IGST act – Subject to the provisions of section 10, supply of goods where the location of the supplier and the place of supply of [Read More]
Nov 112018
Oct 112018
Whether Intermediary Services can be exported under GST Meaning of intermediary services Section – [Section 2(13) of IGST act]: Intermediary means a broker, an agent or any other person, by whatever name called, who arranges or facilitates the supply of [Read More]
Oct 052018
Due dates for the Month of October 2018 7th Income Tax – TDS Payment for September 10th GST – Details of outward supplies of taxable goods and/or services effected – GSTR 1 for September – Return for authorities deducting tax [Read More]
Sep 252018
Tax implication of forfeiture of advance Meaning of forfeiture: According to the dictionary meaning of the word ‘forfeiture’, the loss or the deprivation of goods has got to be in consequence of a crime, offence or breach of engagement or [Read More]
Sep 242018
Taxability of gifts under income tax act Meaning of gifts: The gifts were taxable earlier till 1st October, 1998 under the Gift Tax Act, 1958. The provisions regarding receipts without consideration have been introduced w.e.f. 1st September, 2004. Since most [Read More]
Sep 202018
Who and what is required to be audit in form 3CD (Tax Audit) Notification no 33/2018: With the season of tax audit compilation in at your door step the income tax department thrown a major reform in tax audit forms [Read More]
Sep 182018
Tax implications of payments made for use of railway assets With a view to ensure the prompt payment of dues to railways for use of the railway assets, section 43B is expanded and the same is reproduce below: Section 43B. [Read More]
Sep 052018
Due dates for the Month of September 2018 7th Income Tax – TDS Payment for August 10th GST – Details of outward supplies of taxable goods and/or services effected – GST1 for August – Return for authorities deducting tax at [Read More]
Aug 282018
Tax audit limit under income tax act Meaning of Tax Audit: 44AB. Every person,— Carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in any [Read More]
Aug 272018
Review of GST Input Tax Credit Claim Why there is need for review of ITC claim: Since the rules for claiming ITC are neo for everyone including tax consultants and hence it can be understood that there could be: Errors [Read More]