Tax burden on railway from GST, appeal to FM
Indian Railways can also face some problems with Goods and Services Tax (GST). This can increase the cost of railway signaling, telecom, electrification and new coaches, locomotives and wagon.
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BUILDERS MISLEADING HOMEBUYERS ON GST
Taking a strong note of builders and construction companies forcing buyers to make full payment before the roll-out of the Goods and Services Tax (GST) on July 1, the Center has warned builders of punitive action for trying to mislead home buyers that they will have to pay more tax under the GST regime.
HOW MAHA – RERA PROVIDES GREAT TRANSPARENCY TO REAL ESTATE SECTOR
Government of Maharashtra notified RERA rules and established Maharashtra Real Estate Regulatory Authority (Maha-RERA), vide Notification dated 8 March 2017, for regulation and promotion of real estate sector in the State of Maharashtra.
Transition of Credits Under GST
The transitional provisions are made part of GST Act, to ensure a smooth and logical transition of Credits of Input Tax for taxpayers who are transforming from the existing tax regime to GST regime.
How Much HRA is Exempt From Tax? Let’s Discuss
The Assessee is responsible for correct solution of income tax liability of their employees, deduct appropriate amount of income tax and deposit it with the government. If you’re a salaried individual, you can claim House Rent Allowance (HRA) to meet your rented accommodation-related expenses. Salaried individuals who live in a rented house can claim this exemption … Continue reading “How Much HRA is Exempt From Tax? Let’s Discuss”
Highlight from 2nd edition of FAQ on GST dated 31.3.2017
CBEC has released 2nd edition of FAQ clarifying Central Goods and Service Tax (CGST) Bill, Integrated Goods and Service Tax (IGST) Bill, Union Territory Goods and Service Tax (UGST) Bill and the Goods and Service Tax (Compensation to the States) Bill passed in the Lok Sabha.
GST council clears last two bills, caps cess on demerit goods
GST council has cleared the state and union territory GST bills and capped cess on luxury cars (15%), aerated drinks (15%) and cigarettes (290%). GST council on 16th March gave its nod to the two remaining pieces of supporting legislation for implementing the landmark tax reform, paving the way for their introduction in Parliament and … Continue reading “GST council clears last two bills, caps cess on demerit goods”
GST- ALL ABOUT CASUAL DEALER
We all are aware that GST is going to implement from July 2017. Now we all are just trying to analyse its impact on different Industries deals in various goods/ services.
GST Implication on Textile Industries
Textile sectors play a very important part in the development of the Indian economy with regard to GDP, Export promotion, employment, etc.The textile industry is the second largest industry which provides skilled and unskilled employment.
Draft GST Rules: Things You Should Know
Refund shall be granted after adjusting any outstanding demand payable by the applicant. If Proper Officer is satisfied that refund is not payable then he shall issue a notice requiring applicant to furnish a reply within 15 days. Any amount rejected as refund shall be re-credited to the electronic credit ledger.
Relief To The Exporters
World economy over last few years has been very sluggish and more so Indian economy. The impact on Indian economy could be witnessed in the form of declining exports from India.
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