New GST News and Circular 14.06.2018 [ Join online GST Course by CA Satbir Singh ] New GST Circulars Circular No 48/22/2018 GST Dated 14.06.2018 : Issues of SEZ & refund of unutilized ITC for job workers clarified Circular No 47/21/2018 GST Dated 08th June 2018 : Clarifications of certain issues under GST Circular No… Read More »
New Income Tax News 15.06.2018 New Income Tax Notifications Income Tax Appeal to ITAT :Form 35 and 36A to be Revised : CBDT Issued Draft Notification New Income Tax News Cost of inflation index (CII) for FY 2018-19 Notified Income Tax Calendar 2018-19 Major Changes in Income Tax Act w.e.f 01.04.2018 TDS Rates for AY… Read More »
EXEMPTION TO CAPITAL GAINS ON SALE/ TRANSFER OF AGRICULTURAL LAND [As amended by Finance Act, 2018] Introduction A farmer wants to shift his agricultural land for certain reason and hence he sold his old agricultural land and from the sale proceeds he purchased another agricultural land. In this case the objective of the seller was… Read More »
Meaning and Difference of ‘ Cess ‘ , ‘ Tax ‘ , ‘ Fee ‘ and ‘ Surcharges ‘ In recent years, we have encountered the term ‘cess’ often, starting from the Swachh Bharat Cess to the most recent GST Compensation Cess. A cess is an earmarked levy, meaning that the proceeds are to be… Read More »
Income Tax Deductions AY 2019-20 (FY 2018-19) [As amended by Finance Act, 2018] Section Nature of deduction Who can claim (1) (2) (3) Against ‘salaries’ 16(ia) Standard Deduction [Rs. 40,000 or the amount of salary, whichever is lower] Individual – Salaried Employee 16(ii) Entertainment allowance [actual or at the rate of 1/5th of salary, whichever… Read More »
E-Handbook on Job work under GST Download Free E-Handbook on Job work under GST issued by ICAI Indirect Taxes Committee [ June 2018 ] Click here This handbook provides the provisions relating to job work under one umbrella to enable job workers, manufacturers and consultants to do their SWOT analysis and materialize the benefits of GST as… Read More »
Circular No 48/22/2018 GST Circular No 48/22/2018 GST issued on 14.06.2018 for clarifying miscellaneous issues related to SEZ and refund of unutilized ITC for job workers Circular No 48/22/2018 GST CIRCULAR NO. 48/22/2018- GST [F.NO. CBEC/20/16/03/2017- GST], DATED 14-6-2018 Representations have been received seeking clarification on certain issues under the GST laws. The same have been examined… Read More »
Cost of inflation index (CII) for FY 2018-19 The cost of inflation index (CII) has been notified by the Central Board of Direct Taxes (CBDT) every year. CII is used to compute Long term capital gains wherein the cost of acquisition/improvement is indexed with reference to the applicable CII of the relevant year. CBDT has… Read More »
Changes in Quarterly return (GSTR 4) for registered person opting for composition levy “ Inward supplies received from a registered supplier (other than supplies attracting reverse charge) “ Not Required to be be given in GSTR 4 (serial 4A of Table 4) For the tax periods July, 2017 to September, 2017, October, 2017 to December, 2017,… Read More »
Ministry of Finance Change of email and mobile number of the authorized signatory by taxpayers with assistance from the jurisdictional tax officer under GST system Posted On: 14 JUN 2018 11:48AM by PIB Delhi Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf… Read More »