Reading Time: < 1 minuteTax Collection at Source FAQs, The Provisions of Tax Collection at Source (TCS) will come into force from Oct 1, 2018. the  Law Committee GST Council have issued a set of Frequently Asked Questions on Tax Collection at Source. Tax Collection at Source FAQs Tax Collection at Source FAQs Tax Collection at Source FAQs Also Read: TCS Mechanism under GST

Reading Time: 2 minutesGST Rate & HSN Code for Towels, Napkins, ropes & Netting materials as mentioned in the Chapter 56. the GST Rates & HSN Codes For Wadding of Textile Materials Towels And Tampons, Napkins And Napkin Liners, Sanitary Articles, Yarn Materials, Ropes, Netting Materials. The GST Council has released GST E-Book which contains  the GST rates
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Reading Time: 2 minutesCabinet approves increasing of Government ownership in Goods and Services Tax Network and change in the existing structure with the transitional plan The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved increasing of Government ownership in Goods and Services Tax Network (GSTN) and change in the existing structure with the transitional
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Reading Time: 3 minutesAvoid Interest u/s 234A, Although the CBDT has extended the due date of Filling Income tax returns for Audit cases from Sept 30, 2018, to Oct 15, 2018, vide notification no F. No. 22513581201811TA.11 Dated 24.09.2018  but in the same notification, the CBDT has clarified that there shall be no extension of the due date for purpose
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Reading Time: 2 minutesIncome Tax Due date Extension, The government of India have extended the due date for Tax Audit and return filing under the provisions of the Income Tax Act from September 30th to October 15th 2018. this decision has been taken in view of the huge demand of due date extension from the many tax professional bodies and
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Reading Time: 2 minutesGST Fraud, Zonal Unit of the Directorate General of GST Intelligence (DGGI) have arrested two businessmen, namely, Sh. Vikas Goel, Director of M/s Mica Industries Ltd, Delhi and Bhiwadi& M/s. Satellite Cables Pvt Ltd., Bhiwadi and Sh. Raju Singh Proprietor of M/s Galaxy Metal Products on 14.09.2018 in a case of fraudulent issuance of Input
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Reading Time: 4 minutesTCS Mechanism under GST, Tax Collection at Source (TCS) has similarities with TDS, as well as has distinctive features also. TDS refers to tax which is deducted when the recipient of goods or services makes some payments under a contract etc. while TCS refers to tax which is collected by the electronic commerce operator when
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Reading Time: 4 minutesTDS Mechanism under GST, Under the GST regime, section 51 of the CGST Act, 2017 prescribes the authority and procedure for ‘Tax Deduction at Source’. The Government may order the following persons (the deductor) to deduct tax at source: (a) a department or establishment of the Central Government or State Government; or (b) local authority; or
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Reading Time: 2 minutesGST Practitioners Exam, The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notification No. 24/2018-Central Tax dated
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Reading Time: < 1 minuteThe Government of Punjab Vide Notification No PA/ETC/2018/175 dated September 13, 2018 has notified that no E-Way bill shall be required  to be generated for the intra-State movement in the State of Punjab, for a period of one year from the date of issuance of the notification, Where the movement of Goods commences and terminates within the State
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