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GST- Clarification- Special Procudure for RP/IRP in CIRP
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CLARIFICATION GST-SPECIAL PROCEDURES FOLLOWED BY IRP/ RP DURING CIRP [From the date of the appointment of the IRP/RP till the period they undergo the corporate insolvency resolution process] No. Issue Clarification 1. Notification No. 11/2020 – Central Tax dated 21.03.2020, provided that an IRP / CIRP is required to […]
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Treatment of Sales Promotion Schemes under GST
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Various representations have been received seeking clarification on issues raised with respect to tax treatment of sales promotion schemes under GST. To ensure uniformity in the implementation of the law across the field formations. the Board hereby clarifies the issues in succeeding paragraphs. Free samples and gifts It is […]
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COMPOSITE SCHEME FOR SERVICES PROVIDER
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For small service providers & start ups, compliance in GST regime will be time consuming and cumbersome. Provisions to protect the interest of such small service providers are often found in the earlier taxing statutes. For simplifying service providers Scheme of composition for service providers provided with effect from 01st April, 2019 […]
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BUDGET 2017 – HIGHLIGHTS – INDIRECT TAX
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SERVICE TAX Amendment in Mega Exemption Notification No. 25/2012 ST dated 20.06.2012 Services provided or agreed to be provided by the Army, Naval and Air Force Group Insurance Funds by way of life insurance to members of the Army, Navy and Air Force under the Group Insurance Schemes of the […]
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BUDGET 2017 – HIGHLIGHTS – DIRECT TAX
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PERSONAL TAXATION The existing rate of income tax applicable on income between Rs. 2.5 lacs to Rs. 5 lacs is proposed to be reduced from 10% to 5% in case of individuals/HUFs or AOPs or BOIs. The rebate of Rs. 5,000 currently available under section 87A in case of an […]
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All you want to know about GST Bill Passed
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The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, is crossing its last milestone today. The discussions on Constitution (122nd) Amendment Bill which will change the way business is done in the country on […]
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GUJARAT BUDGET HIGHLIGHTS, 2016-17
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This report covers Gujarat Budget Highlights, 2016-17 VALUE ADDED TAX Item that becomes TAXFREE Bamboo and bamboo‐articles (Except furniture) Pedal Rickshaw and cycle rickshaw Mosquito Net Sanitary Napkins and adult diapers Frozen semen Ceramic products: from current rate of tax 15% including additional tax to 5% including additional […]
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Highlights of Start Ups India Action Plan
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# Compliance Regime based on Self-Certification # Rolling-out of Mobile App and Portal & Hassle Free Registration # No Labour Inspection for initial 3 years # Providing Funding Support through a Fund of Funds with a Corpus of Rs. 10,000 Crores # Credit Guarantee Fund for Start Ups with corpus […]
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Swachh Bharat Cess @ 0.5 percent from 15th November, 2015
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On 6th November, 2015, the Central Government has notified Swachh Bharat Cees wide Notification No. 22/2015-ST at the rate 0.5%. Provided that Swachh Bharat Cess shall not be leviable on services which are exempt from service tax. This notification shall come into force from the 15th day of November, 2015.
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NEW TOURISM POLICY OF GUJARAT, 2015
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This report covers New Tourism Policy of Gujarat, 2015. This Policy covers Framework, Incentives, Initiatives, Focus area for Travel, Tourism & Hospitality. Tourist Inflows in Gujarat has risen from 6.16 million in 2002-03 to 32.7 million in 2014-15 with a CAGR of 13.7%. This Tourism Policy has a objective to […]