With the initiation of a new tax regime, comes the confusion of which one is suitable for you. You, as the taxpayer, may find it challenging to identify which one of the two regimes is better and relevant to your income. With alterations in existing sections, many of you are trying to evaluate the difference between the old tax vs the new tax regime. Here I have made a small note on the present tax REGIME and new tax REGIME....
If you like this article then please like us on Facebook so that you can get our updates in future ……….and subscribe to our mailing ”freely“ Recommended Articles Why GST For India – Challenges for Success in IndiaDocuments Required for PAN Card ApplicationIncome Tax Slab RatesInterest on income tax u/s 234A , 234B, 234C Penalty For Late Filing of E-Forms Under Companies Act, 2013 Beware friends!! Don’t delay the filing of e-forms under companies act bymore than 270 days from the last date of filing the form!...
He is one of the richest men in France. There was a time when he used to be in the list of top 10 richest men in Europe. After graduating from college in 1958 he joined a multinational company as a managing assistant. Pierre Bellon was known for his work ethic and management skills during his tenure in this company, he was so good at his job that within the next 10 years he became chief executive officer of this company....
Piers Morgan Net Worth The net worth of Piers Morgan is estimated to be $30 Million dollars. Under his current employment contract with talkTV, Piers Morgan earns $4 Million annual salary. Piers Morgan Salary As a television presenter, Piers Morgan has previously hosted the ITV talk show Life Stories from 2009 to 2021 as well as the CNN chat show Piers Morgan Live from 2011 to 2014. During his stint with CNN, Piers Morgan has earned over $9 million annual salary....
Depending on the decoration of the room and your requirement you need to purchase the right bookshelves. You can also purchase computer tables online with added bookshelf. Material: Whenever you are purchasing bookshelves, it is very important to look into the material of the product. A will determine the durability of the bookshelf and how easily you will be to move the bookshelf from one place to another. If you are purchasing the bookshelf made of metal or solid hardwood then it will serve you for a long time but it will be heavy and cumbersome when it comes to moving it....
Challenges under Place of supply of Goods Challenges under POS for Goods S.10(1)(a) of IGST Act: where the supply involves movement of goods, whether by the supplier or the recipient or by any other person, the place of supply of such goods shall be the location of the goods at the time at which the movement of goods terminates ―for delivery‖ to the recipient Challenges: Recipient picks up the material at door step of Supplier and destination of such goods is not known to the Supplier [B2C]2) Location of Recipient is known, however no clarity exists even to recipient for point of Delivery or change of destination in transit3) Recipient from different State picks up the goods from Supplier on his own account....
Practical Difficulties In Application of Arm’s Length Price Non – Availability of Market Price – There must be a reasonably reliable and comparable uncontrolled market price. The ALP does not meet this condition because of the nature of the market place. A market price is an outcome of unique negotiations. It may be possible to know the price range, but it is very difficult to know the actual market price unless a market transaction actually takes place....
He is also known as a man of commitment, a true inspiration, and one of the most powerful and influential people in the world. Also read the Net Worth details of Mark Zuckerberg, Bill Gates Net Worth, Anil Ambani, Mukesh Ambani, and Sundar Pichai. check out the Net worth of Ratan Tata below… Here, we will discuss Mr. Ratan Tata’s career, his profession, his leadership, and most importantly his income, wealth, and net worth....
Recovery of Tax under GST The incidence of short payment of tax or erroneous refund or wrong availment of Input Tax Credit may be because of an inadvertent bonafide mistake (Normal Cases) or it may be a deliberate attempt (Fraud Cases) to evade the tax. Since the nature of offence is totally different in both the incidences, hence, separate provisions for recovery of the tax and the amount of penalty have been made to deal with such type of cases....
Removal of Goods as Such – Excise Rules As per CENVAT credit rules 2004 a manufacturer/service provider can avail the credit on input materials/services he used to manufacture/provide the output/service. Rule 3(5) of CENVAT credit rules 2004: This rule says that in the case of raw materials or machinery which are purchased with an intention of using in production and on which the CENVAT credit has already availed, are removed as such from the premises of the service provider or manufacturer then he is required to reverse or pay an amount equal to the CENVAT credit taken in respect of such materials and the removal should be under invoice....
Rick Salomon Net Worth The Famous American poker player “Rick Salomon” has a net worth of $60 Million. According to various online resources (Wikipedia, Forbes, Bloomberg), the most popular American poker player Rick Salomon’s estimated net worth is around $60 Million. Rick Salomon has made a massive amount of money from his career in poker games. His substantial net worth is from the winning amount that he got from the poker match....
What is Ringo Starr Net Worth? Ringo Starr’s Cars Ringo Starr has recently bought a Tesla Model S for $100,000 USD. Ringo Starr also owns a Bugatti Chiron that cost him $3 Million USD. A Few other cars owned by Ringo Starr are listed below. Also, see Boris Johnson Net Worth. Lamborghini Aventador Bentley Blower Land Rover Discovery Aston Martin DB5 Lotus Esprit Ringo Starr Social media Accounts Ringo Starr House Ringo Starr lives in his 13,600-square-foot luxury mansion located in Manchester, England....
SAC’s are provided by the Service Tax Department and is expected to be continued for GST. Accounting Codes for services – in invoice level details Mandatory for those services for which Place of Supply Rules are dependent on nature of servicesMandatory for exports & imports. Service Accounting Code to be prefixed with ‘s’ for differentiating from HSN Code. Classification of Services has been divided into 5 Sections Section 5 : Construction ServicesSection 6 : Distributive Trade Services ; Accomodation, Food Beverage Service; Transport Services; Gas & Electricity Distribution ServicesSection 7: Financial and related services; real estate services; and rental and leasing servicesSection 8 : Business and Production ServicesSection 9 : Community, Social & Personal Services and other miscellaneous services...
Sally has received appreciation from the audience for playing this role in the movie and many other projects. She did her second movie in 1967, called The Way West, in the role of Mercy McBee. It also became a super hit. She has worked in the television industry for an extended period and gained popularity. Sally made her debut in the television industry with the television show called Gidget, where she played the role of Frances Elizabeth ‘Gidget’ Lawrence....
Section 152 of GST – Bar on disclosure of information Statutory provision (1) No information of any individual return or part thereof with respect to any matter given for the purposes of section 150 or section 151 shall, without the previous consent in writing of the concerned person or his authorised representative, be published in such manner so as to enable such particulars to be identified as referring to a particular person and no such information shall be used for the purpose of any proceedings under this Act....
Section 167 of GST – Delegation of powers Statutory provision The Commissioner may, by notification, direct that subject to such conditions, if any, as may be specified in the notification, any power exercisable by any authority or officer under this Act may be exercisable also by another authority or officer as may be specified in such notification. Analysis and Updates Introduction This section enables the Competent Authority to delegate the power exercisable by one authority to another....
Other GST Sections List of all sections of UTGST Act 2017 List of all sections of GST, All Sections of CGST Act 2017 List of all sections of IGST Act 2017, All Sections Union Territory GST Section 18 of UTGST – Transitional arrangements for input tax credit (1) A registered person, other than a person opting to pay tax under section 10 of the Central Goods and Services Tax Act, shall be entitled to take, in his electronic credit ledger, credit of the amount of Value Added Tax and Entry Tax, if any, carried forward in the return relating to the period ending with the day immediately preceding the appointed day, furnished by him under the existing law, not later than ninety days after the said day, in such manner as may be prescribed: Provided that the registered person shall not be allowed to take credit in the following circumstances, namely:—...
Section 69 of GST – Power to arrest as per GST Act (1) Where the Commissioner has reasons to believe that a person has committed any offence specified in clause (a) or clause (b) or clause (c) or clause (d) of sub-section (1) of section 132 which is punishable under clause (i) or (ii) of sub-section (1), or under sub-section (2) of the said section, he may, by order, authorise any officer of the central tax to arrest such person....
Section 9 of IGST – Supplies in territorial waters Notwithstanding anything contained in this Act,– (a) where the location of the supplier is in the territorial waters, the location of such supplier; or (b) where the place of supply is in the territorial waters, the place of supply, shall, for the purposes of this Act, be deemed to be in the coastal State or Union territory where the nearest point of the appropriate baseline is located....
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