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Created: 30 May 2016
May
30
2016
Key Changes in Service Tax From June 2016
Krishi Kalyan Cess @ 0.5% on gross value of taxable services (from 01.06.2016) Total ST rate @ 15%.
AC Bus service by Road Transport Corporation taxable @ 6% (from 01.06.2016).
Rate of ST for the package tour increased from 3.625% to 4.35%.
ST on foreman commission at 10.15%.
Rate of ST for sale of flats increased from 3.625% to 4.35%.
Rate of ST for transport of goods by Rail in container other than by IR increased from 4.35% to 5.8%.
Rate of ST for transport of used household increased from 4.35% to 5.8%.
Assignment of radio-frequency spectrum and subsequent transfers thereof taxable.
Senior advocate service liable to service tax.
Transport of passenger’s ropeway, cable car or aerial tramway made liable for ST.
Interest rate reduced to 15% (if ST not collected) and 24% (if ST collected).
Due date for issue of SCN extended from 18 months to 30 months.
The monetary limit for prosecution cases enhanced to Rs. 2 Crores.
Dispute resolution scheme for the cases pending before Commissioner (Appeals).
New levy on services exempted only if amount received and invoice rose before the notified date.
Spl. Exemption for construction canal, dam or other irrigation works for the period 01.07.2012 to 29.01.2014.
Restoration of exemption for construction of non-commercial buildings for the contracts enters prior to 01.03.2015 for the period up to 31.03.2020.
Spl. Exemption for constriction of ports and airports for the period from 01.04.2015 to 31.03.2020 for the contracts entered prior to 01.03.2015.
Construction under House for All (Urban) Mission / Pradhan Mantri Awas Yojana (PMAY), exempted.
Construction of low cost houses up to a carpet area of 60 sq.m per house under Govt. scheme exempted from service tax.
Levy of Central Excise duty/CVD and service tax on IT Software made mutually exclusive.
Services provided by the Indian Institutes of Management (IIM) exempted.
Business Entity receiving any service from government to pay service tax.
Business entity located in India to pay service tax on ocean freight availed by foreign shipping line.
HUF and One person company (
Annual returns to be filed by service provider by 30th Nov every year.
Blog Archive
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2019
(40)
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December
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A Guide to E-invoice Generation under GST
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November
(2)
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Negative List of Input Tax Credit under GST
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Restriction on Availability of Unmatched ITC
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October
(3)
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Tax Payer’s Liability in case of Voluntary Cancellation of Registration under GST
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Methods for E-Verification of ITR
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Cost Inflation Index for Financial Year 2019-20
►
September
(4)
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Brief Note on TDS Under Section 194H
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FAQs on Tax Deducted at Source under section 194I
•
All you need to know about Employee Provident Fund (EPF)
•
Voluntary Liquidation of a Private Limited Company
►
August
(3)
•
Recent Policy Measures for Revival of Indian Economic
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TDS on Insurance Commission (Section 194D)
•
Rules related to Threshold Limit for GST Registration
►
July
(5)
•
Obligation of an Assessee to file Income-Tax Return
•
Applicability of GST on Charitable Institutions
•
Fees & Penalty for Late / Non Filing of TDS/TCS Return
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Key Highlights of Union Budget 2019
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Compliance Related to Records Keeping under the Companies Act, 2013
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June
(3)
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Key Highlights of 35th GST Council Meeting
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FAQs on Form GSTR-2A
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Key Changes in ITR Forms For AY 2019-2020
►
May
(4)
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GST Rates applicable to Accommodation Services and Restaurants
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Income Tax Return Filing Checklist
•
Amendment in E-mail ID & Mobile Number of Primary Authorized Signatory on GST Portal
•
Notified Changes in Format of Form 16 (Salary Certificate) w.i.f. 12th May 2019
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April
(3)
•
Important Changes in Income Tax Act Applicable from 1st April 2019
•
FAQs on GST Annual Return (GSTR 9)
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GST Compliance Checklist before Filing GST Returns
►
March
(4)
•
Last Date of ITR Filing for AY 18-19
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Various Tax Saving Options under Section 80
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To Do List for Accountants before 31st March 2019
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All you need to know about Provident Funds in India
►
February
(4)
•
Limited Liability Partnership Formation in India
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Suspension of GST Registration
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Key points for Tour Operators & Travel Agents Registered under GST
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GST Input Tax Credit Set Off Rules applicable from 01/02/2019
►
January
(4)
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Concept of Input Service Distributor in GST
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GST ON ADVANCE RECEIPT
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FAQs On Advance Tax
•
FAQs on TDS Deduction on Payment of Rent Paid by Individuals & HUF
►
2018
(45)
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December
(3)
•
Section 9 of CGST Act, 2017
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Frequent Asked Questions On Income Tax Audit
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Audit Under GST
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November
(4)
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Points To Remember While Claiming Deduction Under Section 80C
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Frequently Asked Questions on Composition Levy Under GST
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Types of Annual Return Forms under GST
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Checklist for Tax Invoice Preparation under GST
►
October
(3)
•
Structure of GST Annual Return - GSTR-9
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Application for Refund of Tax under GST
•
Provisions related to TDS/TCS in GST Regime
►
September
(4)
•
Section 194IA : TDS on purchase of immovable property
•
Understanding Permanent Account Number
•
Steps to be taken while filing GSTR-3B/GSTR-1
•
Use of Internal Auditor's work by an External Auditor
►
August
(5)
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Tax Benefits for a Hindu Undivided Family (HUF)
•
Parts of the Form 26AS
•
Tax Audit U/S 44AB
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House Rent Allowance and Income Tax Benefit for Rent Paid
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Provisions Related to Advance Tax under Income Tax Act, 1961
►
July
(3)
•
Housing Loan and Income Tax Benefits
•
Deduction U/S 80E : Interest on Education Loan
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Section 80D: Deductions for Medical Insurance Premium
►
June
(2)
•
Composition Scheme under GST
•
All you need to know about Micro, Small and Medium Enterprises (MSMEs)
►
May
(3)
•
FAQs on Limited Liability Partnership
•
Penalties for non-compliance under GST
•
Zero Rated Supplies under GST
►
March
(3)
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Financial Reporting Requirements for Companies
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The Financial Resolution and Deposit Insurance (FRDI) Bill - The cause of concern among one and All
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Popular Accounting Careers in Indian Defence Forces
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February
(9)
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Gross Domestic Product - The Macroeconomic Measure of an Economy's Performance
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The Accountant's’ Guide to Important Microsoft Excel Functions
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Demystifying Cryptocurrencies: Taxation, Income Calculation and Payment of GST
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Economics for Decision Makers : Price Elasticity of Demand
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Sections 54, 54F and 54EC of Income Tax Act: Exemptions in respect of LTCG
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Are Accountants Better than Accounting Software?
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Accountants Play a Crucial Role for Indian Startups
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FAQs - Leave Travel Allowance (LTA)
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Top 10 Accounting Software in India
►
January
(6)
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Major Decisions and Announcements of 25th GST Council Meeting
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All about the E-Way Bill
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Export Promotion Capital Goods (EPCG) Scheme
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Improve your English - Article A, AN, The
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Transform Your Business into a Superior Accounting Firm
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Use of Big Data Analytics in Income Tax Assessment
►
2017
(55)
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December
(6)
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Opportunities for women as Chartered Accountant
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GST NOT to be Levied on MRP- Government’s Stern Stand
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All you wanted to know about Bitcoins - the Pioneer Cryptocurrency
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All You need to know about Forms 15H and 15G for Preventing TDS Deduction
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All you need to know about RBI: The Apex Bank of India
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વાત ભવિષ્યના ચલણની- વાત બીટકોઇનસની
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November
(5)
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How GST assists in improving India's "Ease of Doing Business" Ranking
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How Recent GST Changes benefit Common Man
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Regulatory Bodies in India : Securities Exchange Board of India (SEBI)
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Top Ten Reasons for Growing Demand of Accountants in GST Era
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Solutions of Top Five GST Challenges faced by Tax and Accounting Professionals
►
October
(5)
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Need for Consumer Awareness in the GST Regime
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Smart Tax Management: Benefit of Shifting
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Important Organizations related to Trade and Commerce: WORLD TRADE ORGANIZATION
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CBDT to make separate wing to probe benami, black money
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Income Tax dept issues notices to farmers claiming suspect agricultural income
►
September
(4)
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Different Myths on GST
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Purchase Tax under GST - When Registered Dealer Purchase from Unregistered Dealer
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How GST will affect Goods which are Returned Post GST Implementation?
•
How will Tax Refunds Claimed by Exporters be affected by GST?
►
August
(4)
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Due date of GST Returns for July and August 2017
•
Anti-Profiteering Clause under GST Act
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Rules and Policies for NRI in India
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Penalties applicable for Filling Late Return of Income Tax and how to avoid it?
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July
(5)
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What happen If you Don’t File Return by Due Date?
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Importance of Income from Other Sources while Filing Tax Returns
•
New Passport Rules
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Do not pay cash for certain transactions
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Guide for e-Filing of Income Tax Return (ITR) Online
►
June
(4)
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Major advantages of Goods and Services Tax
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Composition Levy under GST Law
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GST – Disadvantages remain, implementation of GST Network will hold the key to GST success
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GST Tax Rate for Services
►
May
(5)
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GST Tax Rate for Goods
•
GST Compliance Ratings To Improve Tax Management
•
Mandatory for taxpayers to link their PAN to Aadhaar
•
Changes You Should Be Aware of while declaring your Income to Employer
•
Important Changes in the Income Tax Laws effective from A.Y. 2018-19
►
April
(4)
•
Revised TDS Rate Chart applicable for FY 2017-18
•
‘Voluntary’ Aadhar Card now ‘Mandatory’ for PAN and for Filing Income Tax Returns
•
Late Filing Fees to Replace Discretionary Penalty u/s. 271F
•
Simplified 1 Page ITR – No More Excuses on Filing
►
March
(4)
•
Revised Section 269ST
•
TDS Mandatory if Rent Exceeds Fifty Thousand
•
Seven things you must do before 31st March
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How the Union Budget 2017 Capital Gains Tax Proposals Impact you?
►
February
(4)
•
Income tax notice after demonetization – what to do?
•
Union Budget 2017 Highlights for Personal Income Taxpayers & Corporate Taxpayers
•
Presumptive taxation U/s. 44ADA
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8 Smart Tax Saving Expenses
►
January
(5)
•
How will GST Change Logistics Industry in India?
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How will Manufacturing Industry be Affected by GST?
•
Advantages and Disadvantages of Demonetisation
•
Presumptive taxation U/s. 44AD with FAQs
•
ESIC limit increased from Rs. 15,000 to Rs. 21,000 with effect from 1st January 2017
►
2016
(10)
►
December
(4)
•
7 Point Guide to Ensure Smooth Transition of Your Business to GST
•
Model GST Law Decoding of Time and Value of Supply
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Anti Profiteering Incorporated in Revised Model GST Act, 2016 - Its Impact and Litigation
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Key changes in Revised Model GST Law
►
November
(4)
•
GST Registration Procedure : Who is required to register for GST number?
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What GST means for banks and financial services
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How GST would affect the Media and Entertainment Industry
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GST Impact on eCommerce
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October
(2)
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How GST will operate in India? Your quick guide to our new tax reform
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Frequently asked Questions on Goods and Service Tax Act
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