Understanding Place of Supply-2

The basic principles of Place of Supply of services when the location of supplier or the location of recipient is outside India, has been drawn largely from the Place of Provision of Services Rules, 2012 (POPS) under erstwhile service tax regime. It has also been mentione[...]

Understanding Place of Supply-1

Determining the Place of Supply of goods or services is very important as it determines the nature of the tax to be paid. In case, when the location of the supplier and place of supply are in the same state, CGST and SGST will be levied, whereas if the place of supply is in a d[...]

Transfer of Credit on Sale, Merger, Lease, or Transfer of a Business

What is Transfer of credit on sale, merger, amalgamation, lease under GST?  Provisions under Rule 41 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Transfer of Input Tax Credit (ITC) on Sale, Merger, Amalgamation, Lea[...]

Difference between NRE and NRO Accounts

NRE deposits are emerging as an attractive investment option, according to a report in the Business Standard today. "With global interest rates continuing to remain low, non-resident Indians (NRIs) can use the non-resident (external) rupee account (NRE) as an [...]

GST Refunds- Export of Services

After the implementation of GST in India, several exporters have had difficulties in claiming GST refunds. This has led to large amounts of working capital being locked up until refunds are correctly applied for and received. In this article, we answer some questions on getting G[...]

GST Refunds

Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernization of existing business. Thus, under the GST regime, there will be a standardized form for making any claim for r[...]

TDS on Contract – 194 C

Section 194C states that a person is responsible for paying any sum to the resident contractor for carrying out any work (including the supply of labor), in pursuance of a contract between the contractor and the following: The Central Government or any State Governm[...]

Deadline to Pay Advance Tax Ends Tomorrow

Who should pay it? Advance tax is mandatory for all the person like individual, Corporate & Companies as an when there tax liability increases more than  Rs. 10,000/-, However, salaried employees need not to pay advance tax if your employer deducts tax at source (TD[...]

All about the Due Dates of Belated and Income Tax Returns

Due date for filing of Belated ReturnsIncome tax authorities are sending reminders through mails and SMS, regarding your returns pending for filing, if you have received the same you might need to file your income tax return within due date, So, here we are explaining when you ar[...]

All about the Deductions under Section 80G

There are many organizations like charitable institution, NGO’s which help the poor and the needy and you can make donations to these specified organizations, which will ensure the money is used in right purpose.The amount donated can be claimed as deduction under sec 80G of In[...]

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