GST

Income Tax Department asked by CAG to tighten the inspection of farm income tax exemption claims 2 min read

• Income Tax

Income Tax Department asked by CAG to tighten the inspection of farm income tax exemption claims

Diksha Garg 6 years ago

Tax exemption claims on farm income have caught the eye of the Comptroller and Auditor General of India (CAG) who has in turn called for... Read More

PCIT vs. Paramshakti Distributors Pvt. Ltd (Bombay High Court)-Deletion of enhanced rate of Gross Profit 2 min read

• Income Tax

PCIT vs. Paramshakti Distributors Pvt. Ltd (Bombay High Court)-Deletion of enhanced rate of Gross Profit

Diksha Garg 6 years ago

The appeal was filed by the Revenue in order to challenge the Income Tax Appellate Tribunal’s (“the Tribunal” for short) judgment. The questions presented for... Read More

FAQs about IRS Tax Regulations on Online Entrepreneurs 5 min read

• Income Tax

FAQs about IRS Tax Regulations on Online Entrepreneurs

Rajbir Chawla 7 years ago

Does Tax-free Work Online? If you are an entrepreneur having an online presence instead of a physical location can save you a pretty penny when... Read More

Life Not Easy for TaxPayers, – Tax Terrorism must go 5 min read

• Income Tax

Life Not Easy for TaxPayers, – Tax Terrorism must go

Diksha Garg 8 years ago

In today’s times in our country, small taxpayers are highly burdened by the compliance and it is high time that they are eased. A taxpayer... Read More

What Is The GST Liability on Free Supply of Goods and Services? 3 min read

• GST

What Is The GST Liability on Free Supply of Goods and Services?

Rebecca Ghomes 8 years ago

It has been a common norm for free supply of goods and services before their official introduction into the market. This includes the free sample... Read More

What is The Reverse Charge Mechanism under Goods and Service Tax (GST)? 3 min read

• Income Tax

What is The Reverse Charge Mechanism under Goods and Service Tax (GST)?

Rebecca Ghomes 8 years ago

A revolutionary change has been brought about the entire taxation system of India, with the onset of a new tax structure named Goods and Service... Read More

Do I pay Input Tax Credit in Goods and service tax? How do I and when can I claim it back? 3 min read

• Income Tax

Do I pay Input Tax Credit in Goods and service tax? How do I and when can I claim it back?

Rebecca Ghomes 8 years ago

What is Input credit tax (ITC)? Recently the Government of India has combined all the taxes and made it into single Goods & service tax... Read More

Some FAQs about GST- Understanding Scope and Provisions of GST 4 min read

• GST

Some FAQs about GST- Understanding Scope and Provisions of GST

Baisakhi Ganguly 8 years ago

The Goods and Services Tax or GST has been launched on the 1st of July, this year and it is set to change the process... Read More

One state under same PAN In GST cannot utilise Input Tax Credit of Other state for payment of GST Tax liability 3 min read

• GST

One state under same PAN In GST cannot utilise Input Tax Credit of Other state for payment of GST Tax liability

Diksha Garg 8 years ago

In GST, for registered user under the same PAN, Input Tax Credit of One state cannot be set off against tax liability in another state. Other... Read More

Invoice Matching Mechanism in GST 3 min read

• GST

Invoice Matching Mechanism in GST

Diksha Garg 9 years ago

An important function of executing a transaction is invoicing. An invoice is issued whenever there is a purchase or a sale by a seller who... Read More