The government today said it has collected over Rs 38,000 crore between July-November by levying cess on luxury and demerit goods under the GST regime. Under the GST regime, a cess is levied on luxury, demerit and sin goods to make good the loss suffered by the states on account of roll out of the […]
The existing provisions of section 115JB of the Income-tax Act, 1961 (‘the Act’), inter alia, provide, that, for the purposes of levy of Minimum Alternate Tax (MAT) in case of a company, the amount of loss brought forward or unabsorbed depreciation, whichever is less as per books of account shall be reduced from the book […]
Flyers on important topics of GST are being brought out by the National Academy of Customs, Indirect Taxes, &Narcotics (NACIN),the apex training institution under the Central Board of Excise & Customs (CBEC). These Flyers are being issued from time to time and are available on the GST Council website as well as the CBEC website. […]
While investing in a tax-saving instrument or any financial product for that matter, it is important to keep an eye on the taxability of its income. If the income earned is taxable, the scope to make money over the long term gets constrained as taxes will eat into the returns that you can earn. In […]
The economy is expected to grow at a four-year low of 6.5% in the current fiscal, the lowest under the Modi-led government, mainly due to the poor performance of agriculture and manufacturing sector, as against 7.1% in the last fiscal, the Central Statistics Office data on GDP advance estimate showed on Friday. The practice of releasing advance […]
Are you desperately trying to update your new mobile number on Aadhaar card, but unable to do so? Well, we know that it’s important to keep your Aadhaar card updated with the latest information. Stop worrying, all you need is to follow few steps, which includes making an update request. Even if you are planning […]
Even after the tax department casting a critical eye on the unexpectedly high claims of transitional credits by businesses paying the goods and services tax (GST), such credits have soared to upwards of Rs 90,000 crore till the December 27 deadline, up nearly 40% from September, sources told FE. The facility to avail these credits […]
The last date for filing of return in FORM GSTR-1 for all taxpayers for the relevant periods, as shown in the Table below, has been extended to 10th January, 2018. Table Sl. No. Class of Taxpayer Return Previous last date Revised last date 1 Registered persons having Aggregate turnover of up to 1.5 crore rupees in […]