We are noting below the consolidated provisions under GST related to Hotels, Restaurants and Hospitality Sector:- PART I – RATE OF GST ON HOTEL ROOMS Note – GST is charged based on the Declared Room Tariff which is explained as below:- “declared tariff includes charges for all amenities provided in the unit of accommodation (given on rent …
GST RATE ON HOTELS, RESTAURANTS & HOSPITALITY SERVICES Read More »
पहला सुख, निरोगी काया These FAQs are in continuation to Part 1 of GST on Medical & Health Care Sector, where we have discussed:- Exemption given to Health Care Service under GST; Illustrative list of Services that are exempted under GST and supplies that are liable for tax under GST; Rate of GST on various …
GST FAQs – MEDICAL & HEALTH CARE SECTOR : PART 2 Read More »
स्वस्थ नागरिक ही, किसी राष्ट्र की सबसे बड़ी पूंजी है Health Care Sector is on the highest priority for the government and a significant portion of the government spending goes to provide low cost health care facility to the public at large. Having regard to the importance of Medical Facilities and the noble cause delivered by …
The Reserve Bank of India (RBI) has granted relief to specified M.S.M.E. Borrowers registered under GST be extending the overdue period for being classified as NPA vide Circular No. RBI/2017-18/129 dated 07-02-2018 (Copy Enclosed). LINK : The Circular No 129 dated 07.02.2018 is attached herewith. Click here to view. The content of the above circular is noted below for …
RBI RELIEF IN NPA NORMS TO SPECIFIED MSME BORROWERS REGISTERED UNDER GST Read More »
The Union Budget, 2018 has introduced some of the most radical provisions to ensure Timely Filling of Returns. The Penalties and Losses for delay in filling of the Income Tax Return are noted below for ready reference:- A) DUE DATE FOR FILLING OF RETURN 1. Before 30th September of Assessment Year (for example for F. …
PENALTIES & LOSSES ON DELAY IN FILLING OF INCOME TAX RETURN Read More »
The biggest beneficiary of the Union Budget, 2018 are Mid Sized Companies. We are discussing below the Rate of Income tax on Companies:- A) TAX ON DOMESTIC COMPANIES:- Category of Company Rate of Tax Domestic Companies with Turnover of upto Rs. 250 Crores (increased from 50 Crores) during the F. Y. 2016-2017 25% Domestic …
RATE OF INCOME TAX ON COMPANIES FOR F. Y. 2018-19 Read More »
No change has been proposed in the Union Budget, 2018 in respect of the Rate of Income Tax for the Partnership Firms & LLP’s. We are discussing below the Rate of Income Tax and method of Calculation of the Profits of a Partnership Firm:- A) Rate of Income Tax : 30 % of Total …
INCOME TAX CALCULATION OF PARTNERSHIP FIRMS & LLPs FOR F. Y. 2018-19 Read More »
The Union Budget, 2018 has not made any major changes in the Income Tax Rates for Individuals. We are noting below the method of calculating the Income Tax on Individuals, HUF, AOP & BOI and KEY Tax Planning provisions under Income Tax Act, 1961 for the F. Y. 2018-19:- SECTION 1 : TAX CALCULATION A) …
PERSONAL INCOME TAX CALCULATION & PLANING FOR F.Y. 2018-19 Read More »
Vide Notification No-11/2018-Central Tax dated 02/02/2018 (today), Central Government recinds Notification No. 74/2017–CT dated the 29/12/2017 regarding date of effect of e-way Bill Rules from 01/02/18. Or In simple words, Rule 138, 138A, etc of CGST Rules, 2017 relating to E-Way Bill are not yet part of the law in force as on date. It …
NO E-WAY BILL UNDER GST – Notification No. 11/2018 – Central Tax Read More »
As per the announcement by the FM, a Tax on Long Term Capital Gain on sale of Listed Equities Shares or Equity Oriented M. F. or a unit of Business Trust, has been introduced for gains above Rs. 1 Lakh @ 10% of Capital Gain without benefit of Indexation. However, the gains earned till 31st January, …
LONG TERM CAPITAL GAIN (LTCG) TAX ON EQUITIES (SHARES) @ 10% : BUDGET 2018 ANALYSIS Read More »