TDS on Commission for AY 2017-18 Provision regarding TDS on Commission or brokerage is provided in Section 194H of Income tax Act After Finance Act 2016 Salient Features of TDS on Commission or brokerage Threshold limit for TDS on Commission or brokerage u/s 194H . If Commission or brokerage or the aggregate of the amounts of Commission… Read More »
Taxable event under GST (India) Read for Complete Analysis Taxable Event in GST (India) Free Education Guide on Goods & Service Tax (GST) SR No Topic -GST Resources 1 Model GST Law Model GST Law 2 GST Overview Goods and Services Tax (GST): An Overview Integrated Goods & Service Tax (IGST) Act Overview Meaning and Scope… Read More »
Government works on ironing out benefits refund mechanism for exporters Oct 15, 2016, NEW DELHI: A new plan is in the works to help exporters shift smoothly to a refunds-based mechanism when the goods and services tax (GST) kicks in. At present, exporters get tax sops upfront. India’s exports sector is facing pressure due to… Read More »
GST may trigger consolidation in warehousing space The goods and services tax (GST) regime could usher in consolidation in the Indian warehousing space, property consultants and analysts said. With the government pushing for an April 2017 rollout of the single tax structure, many manufacturers who had built or leased warehouses in nearly every state to… Read More »
Traders body CAIT on Friday proposed that the government should waive penalties on compliance errors during the first three years of rollout of the goods and services tax (GST) regime. Observing that it would be difficult for anyone to evade taxes under the new framework, CAIT said even the instances of under-invoicing will gradually wane… Read More »
He said large commitment from the developed countries to provide funding for climate change financing is not sufficient to meet the sustainable development goals and that the multilateral agencies also need to chip in. “Even now there is a debate as to nature of the USD 100 billion (that the developed world has committed for… Read More »
Levy and Collection of Tax Under IGST Key Points about Integrated GST /IGST Chapter III of the Model IGST Law (THE INTEGRATED GOODS AND SERVICES TAX ACT, 2016 provides for levy and collection of tax (IGST) Section 4 is the charging section for levy of IGST { corresponding to section 6 of CST Act, 1956 }… Read More »
Uttar Pradesh Goods & Service Tax (UP GST) : For migration to GSTN: PAN Card to be updated by 31.10.16 by all assesse else TIN Shall be cancelled. Circular No. 1617038 dated 07.10.2016 has been issued for PAN – TIN – GSTN. UP GST: As GST would be applicable from 1st April 2016, data of current… Read More »
Model GST Law may redefine employer-employee relationship Unlike in current scenario where provision of service by employee is excluded from definition of service, under the Model GST Law, employee service has not been excluded from the ambit of supply of service. October 14, 2016 There is a growing sense of optimism on GST as India… Read More »
IRS Announces Position on Unilateral APA Applications Involving Maquiladoras WASHINGTON –– The Internal Revenue Service today announced that U.S. taxpayers with maquiladora operations in Mexico will not be exposed to double taxation if they enter into a unilateral advance pricing agreement (APA) with the Large Taxpayer Division of Mexico’s Servicio de Administración Tributaria (SAT) under… Read More »