No. GST is an indirect tax. It has replaced VAT, Central Excise, Service Tax and many other indirect taxes.
No. GST is an indirect tax. It has replaced VAT, Central Excise, Service Tax and many other indirect taxes.
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It's too early to discuss whether GST is good or bad. It is a subjective matter of discussion. Compliance burden has increased for the taxpayers. Implementation is not being done in the manner it was envisaged when the GST was rolled out. GST Laws will take time to settle in India it is still evolviRead more
It’s too early to discuss whether GST is good or bad. It is a subjective matter of discussion. Compliance burden has increased for the taxpayers. Implementation is not being done in the manner it was envisaged when the GST was rolled out.
GST Laws will take time to settle in India it is still evolving. This question can be answered better after another 4-5 years. When benefits of the law will reap or drawbacks will show up.
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Section 87A was introduced to help taxpayers reduce their income tax liability. In other words, certain taxpayers earning income below a specified limit can leverage the provisions of this section and pay lesser/zero income tax. You can read more about section 87A here - https://www.mastersindia.co/Read more
Section 87A was introduced to help taxpayers reduce their income tax liability. In other words, certain taxpayers earning income below a specified limit can leverage the provisions of this section and pay lesser/zero income tax. You can read more about section 87A here – https://www.mastersindia.co/gst/section-87a/
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Step 1 Login with valid credentials on the GST portal Step 2 On the Dashboard, navigate to the ‘My profile’ section. Step 3 From the options "Quick Links" select ‘Manage API access’. Step 4 Click ‘Yes’. Step 5 A dropdown for the duration will be displayed. Select the desired duration and then clickRead more
Step 1 Login with valid credentials on the GST portal
Step 2 On the Dashboard, navigate to the ‘My profile’ section.
Step 3 From the options “Quick Links” select ‘Manage API access’.
Step 4 Click ‘Yes’.
Step 5 A dropdown for the duration will be displayed. Select the desired duration and then click confirm.Hope it helps…
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If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.
If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.
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Income Tax is a direct tax charged by the Government on the income of a taxpayer. As per the Income Tax Act, taxpayers must file their income tax return annually to determine their tax obligations.
Income Tax is a direct tax charged by the Government on the income of a taxpayer. As per the Income Tax Act, taxpayers must file their income tax return annually to determine their tax obligations.
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If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don't file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.
If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.
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Yes, e-way bill needs to be generated for any movement of goods. Therefore, even in case of sales returns, the e-way bill needs to be generated and in this situation, e-way bill needs to be generated by that person who is causing movement of such sales return or the transporter who is actually movinRead more
Yes, e-way bill needs to be generated for any movement of goods. Therefore, even in case of sales returns, the e-way bill needs to be generated and in this situation, e-way bill needs to be generated by that person who is causing movement of such sales return or the transporter who is actually moving the goods.
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You can use Masters India's free Income Tax Calculator to check your income tax payable - https://www.mastersindia.co/income-tax-calculator/
You can use Masters India’s free Income Tax Calculator to check your income tax payable – https://www.mastersindia.co/income-tax-calculator/
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What is GSTR-3B?
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GSTR-3B is a consolidated summary return wherein details of inward and outward supplies are to be provided. (Depending upon the type and turnover of the taxpayer, frequency of GSTR 3B and due date will be decided) Government had introduced Form GSTR 3B as a stop-gap arrangement before moving to theRead more
GSTR-3B is a consolidated summary return wherein details of inward and outward supplies are to be provided. (Depending upon the type and turnover of the taxpayer, frequency of GSTR 3B and due date will be decided)
Government had introduced Form GSTR 3B as a stop-gap arrangement before moving to the originally planned returns in Form GSTR 1 GSTR 2 & GSTR 3.
But now the originally planned returns are scrapped by Government and GSTR 3B is notified as a summary return.
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If the supplier agency is registered under GST, the agency should charge GST for labour supply. It can also claim the input tax credit for the same. If the supplying agency is not registered under GST, the service receiver should charge GST under the reverse charge mechanism.
If the supplier agency is registered under GST, the agency should charge GST for labour supply. It can also claim the input tax credit for the same. If the supplying agency is not registered under GST, the service receiver should charge GST under the reverse charge mechanism.
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I am assuming that you are enquiring about the filing of Income Tax Returns for FY 2020-21. You can file Income Tax Returns directly on the Income Tax Portal after March 31 2021– https://www.incometaxindiaefiling.gov.in/home. In case you need CA assistance, please drop in your details as a message.Read more
I am assuming that you are enquiring about the filing of Income Tax Returns for FY 2020-21. You can file Income Tax Returns directly on the Income Tax Portal after March 31 2021– https://www.incometaxindiaefiling.gov.in/home.
In case you need CA assistance, please drop in your details as a message. We will get in touch with you.
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Technically you should be able to file belated returns for AY 2020-21 till 31 March 2021. However, a penalty of up to Rs. 10,000 may be applicable.
Technically you should be able to file belated returns for AY 2020-21 till 31 March 2021. However, a penalty of up to Rs. 10,000 may be applicable.
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Income tax is a major source of revenue collection for the government and the money collected is used to fund essentials such as health, education, defense, public affairs, infrastructures, etc.
Income tax is a major source of revenue collection for the government and the money collected is used to fund essentials such as health, education, defense, public affairs, infrastructures, etc.
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Know GST Full Form & GST Meaning in Different Languages. S. No Language GST Full Form in Different Languages 1 GST Full Form in Hindi वस्तु एवं सेवा कर 2 GST Full Form in English Goods and Services Tax 3 GST Full Form in Marathi वस्तू आणि सेवा कर 4 GST Full Form in Kannad ಸರಕು ಮತ್ತು ಸೇವೆಗಳ ತೆರಿRead more
Know GST Full Form & GST Meaning in Different Languages.
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