GST on Advance Received
Generally, GST is imposed on a supplier of goods and service at the time of receipt of payment. However, in some cases, an advance payment is first made by the recipient of the goods or/and…
PERSON and ASSESSEE
PERSON [ Section 2(31) ]The word “Person” is a very wide term and embraces in itself the following :Individual: It refers to a natural human being whether male or Female, Minor or Major.Hindu Undivided Family (HUF): It is…
32nd Meeting of GST Concil
GST Council's latest meeting Decisions and their Impact The meeting of the GST Council's 32nd Council was concluded on January 10 and according to the expectations of the decisions taken in the interest of small and…
Concept of TCS return under GST
TCS provisions has been made effective from 01.10.2018 TCS refers to the tax collected by electronic commerce operator when supplier supplies goods or services through portal and the payment for that supply is collected by the E Commerce operator. Eg: Flipkart, Amazon which…
TDS on Salary for FY 2018-19 – Major/important Points to Remember
CBDT’s Circular No. 1 of 2019 dated 01.01.2019– Major/important Points to Remember The CBDT has issued circular No. 1 on 01.01.2019 in respect of the Deduction of tax at Source from Salaries u/s 192 of the Income Tax Act,…
Taxability of Gifts In India
GIFT TAX The tax levied on the gifts that you have received in money or its worth and which is over and above a certain set limit by the Indian law is known as gift…
GST rate on Food & Beverage Supply Services by Educational Institution
Circular No. 85/04/2019-GST No. 354/428/2018-TRUGovernment of IndiaMinistry of FinanceDepartment of RevenueTax research Unit**** Room No. 156, North Block,New Delhi, the 1st January, 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ PrincipalCommissioners/ Commissioner of Central Tax (All)…
GST Late fees should be returned to Government….!
The GST experts had not agreed with the introduction of late fees for delayed fees to be introduced during the GST, because the GST law was new and the laws of the late fees were not only…