Vivad se Vishwas: Budget Proposal Over the period of time, the Government of India has introduced various amnesty scheme. The rationale behind these amnesty schemes was to settle dispute and litigation which are pending for a long time. In 1998, the Government introduced “Kar VivadSamadhan Scheme (KVSS)” which was available if there was an outstanding …
Budget The Budget 2020 has invented a new tax regime for the individuals and HUFs. Under this regime, a new section is inserted which provides an option for the tax payers to opt a new slab other than slab mentioned in the schedule. Opting to the new tax rate under new section is subject to …
The department has recently issued various notifications to make compliance of E-invoice mandatory for certain category of person from specified date. The purpose of this article is to answer the top 10 question about the E-invoice as per rule 48(4) CGST Rules and others respectively. 1. What is E – Invoice? As per Rule 48(4), …
Economic frauds in India are increasing day by day. To know how to avoid IT fraud online, we have answers for some common questions like how to deal with online frauds or how to deal with online IT frauds. Tips you can do to avoid IT fraud These are some things you can do to …
GST Outcome of 37th Meeting of the GST Council, Goa held on 20 September, 2019 The GST Council, in its 37th meeting held today at Goa, recommended the following: 1. Relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under: a. waiver ofthe requirement of filing FORM GSTR-9A for …
Tax & Economy Updates:– The deadline to file income tax return (ITR) for this financial year (FY 2018-19) was extended from July 31 to August 31. Now, if for some reason you still do not manage to file your ITR before the end of the day, here is what will happen. Further, here are your …
What happens if you missed the ITR filing by 31st August 2019 Read More »
The Hon’ble Finance Minister has announced the Union Budget 2019 on 5th July 2019. There are various Key points related to Budget 2019. Reduced Tax rate: Lower Corporate tax rate of 25% extended to all companieswith annual turnover upto INR 400 crores (current limit of INR 250 crores). Lower interest burden: Interest subvention scheme for …
Startup India Standup India… Young Indians today have the conviction to venture out on their own and a conducive ecosystem lets them watch their ideas come to life. In today’s environment we have more Startups and entrepreneurs than ever before and the movement is at the cusp of a revolution. However, many Startups do not …
The CBIC has issued 21 notifications and 2 orders on March 29, 2019 under CGST, IGST and UTGST Acts. These statutes have been issued to implement the decisions taken by the GST Council in its 33rd and 34th meeting. The glimpse of these statutes is as under. 1.Unutilized ITC balance shall lapse if taxpayer opts for 6% …
CBIC recent 21 Notifications and 2 Orders on March 29, 2019 related to real estate Read More »
The Banning of Unregulated Deposit Schemes Bill, 2019 was passed by the Lok Sabha on 13.02.2019 but could not be passed by the Rajya Sabha. Since the Parliament is not in session, the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 has been issued by the President of India vide Notification dt. 21.02.2019. According to Article …
