Archita Bhattacharjee

With each day that passes, GST laws are becoming stringent instead of being simplified. That is why the department issues notifications from time to time to keep the interested people updated regarding the changes made by the authorities concerning various compliance procedures, Introduction of QRMP scheme, E-invoicing, tax rates, and related matters. Here, we will […]

With a coastline of 1600 km Gujarat is known to be leading industrialized states in the country situated on the west coast of India, which is well connected to all the prominent port in all countries and continents. Observing the present scenario, the New Gujarat Industrial Policy 2020 has been propounded in order to promote […]

International business is a facet of the modern economy by which the technical advancement also made it possible for organizations to execute their business on a global basis. International business refers to as trading of goods and services in a worldwide market, therefore the international business can also recognize as the globalization of trade. Moreover, […]

The Prime Minister has launched a Historic platform for “Transparent Taxation – Honoring the Honest” through video conferencing today – on the 13th August 2020 for Faceless assessment, faceless appeal which will begin from 25th September 2020, and the taxpayer charter starts from today. Objectives and Features of Faceless Appeal and Assessment for Transparent Taxation […]

In place of Spice form, Spice+ is a new web-based form. MCA has deployed new web-based form spice+ and other registration along with the form to make the company incorporation procedure easier. A company can apply for EPFO/ESI, GST numbers with this ‘single window form.’ It is compulsory for all the companies as per the […]

Finance Ministry clarified that hand sanitizers would attract a standard duty rate of 18% under the GST regime as they come in the category of disinfectants like anti-bacterial liquids, soaps, Dettol, etc. According to Finance Minister, reduction in GST rate would help neither manufacturers nor consumers after receiving comments on the GST rates for essential […]

The idea of TDS was announced to collect tax from the appropriate source of income. According to the concept, a person (deductor) who is accountable for making payment of quantified nature to any other person (deductee) will deduct tax at source and remit the same interest in the central government’s account. The deductee would be […]

GST is a target based tax on the ingestion of goods and services. At all platforms, right from manufacture up to final consumption, it is proposed to be levied with credit of taxes paid at forgoing stages obtainable as setoff. It means that only the value’ addition will be taxed’ and ‘burden of tax’ is […]

In general, Gift from a specified relative is exempted from tax according to Section 56(2) of the Income Tax Act, 1961. Therefore, the Gift of Rs. 30 lakh received by your son/daughter will not hold any tax liability. However, there are few more issues relating to the similar concern, such as Exemption from Tax liability. […]

Here’s the synopsis of the notifications issued by CBIC on several GST during the month of June 2020.  Overview of the Notifications by ‘40th GST Council meeting’ on GSTR In our previous blogs, you can see that GST amnesty for taxpayers between July 2017 and January 2020 who haven’t filed GSTR-3B for the said tax […]

The Government of India has announced many relief packages after the spread of pandemic ‘COVID-19’ for the MSME sector to give a helping hand to industry and economy of the country. Those are helping hands (Aatam Nirbhar Bharat), which include ease of doing business, start-ups, Digital India, secure loans, subsidies, Make in India, a moratorium […]

The Finance Minister in the ‘Union Budget 2019’ has presented Section 194N for ‘deduction of tax at source (TDS)’ on cash withdrawals exceeding Rs. 1 crore, which will be valid from July 1, 2020. By way of this, the Finance Act, 2020, has tightened up the existing provisions for those who have not completed income […]

You can incur hefty fines and penalties that can go up to 100% of your owed tax amount if you fail to register for GST as goods or service provider. Consequently, you must register for GST to avoid any conflict with the law. Moreover, you can also collect GST from your customers if you register […]

The capital gains tax is a tax on the profit recognized of a non-inventory asset on the sale. The most usual capital gains are realized from the bonds, sale of stocks, real estate precious metals, and property possessions. Following the Registration Act, 1908, the sale deed gets registered, where both the parties must to be present in person along with […]