Refund under GST Law Refund under GST is nowadays an open issue which is a problem for almost all class of taxpayers, majorly exporters which is directly impacting their working capital.The cases of refund under GST are as below Exports with Payment Export under LUT/Bond Inverted Rate of Duty, Supply to SEZ, Tax Paid by Mistake, Excess Tax in Cash Ledger, etc Exports with Payment Prerequisites : Registration on Icegate… Read More »Refund under GST
E-Commerce Specified Services u/s 9(5) of CGST Act and u/s 5 (5) of IGST Act The Government has notified following categories of services, the tax on which shall be paid by the ECO – However, the persons making supply of services, other than supplies specified under subsection (5) of section 9 is allowed to take benefit of threshold limit. Registration Limit Electronic Commerce Operator (ECO)
The Finance Bill proposes to provide an option to an Individual / HUF either to pay tax as per existing tax rates or at concessional tax rates subject to the prescribed conditions. AOP / BOI / Artificial Juridical Person will continue to pay tax as per the existing tax rates.The following rates shall be increased by Surcharge and Education Cess as applicable in the table given below: Health and Education… Read More »Budget 2020 – Income Tax Slab Rates
The reduction in corporate tax rates for domestic companies is a bold and radical measure implemented by the Government to tackle the slow-down in the economy. All domestic companies across all sectors will stand to benefit from the reduction if they opt to sacrifice the tax incentives. There has been a reduction in the MAT rate from 18.5% to 15% for companies following the existing scheme.In case of companies not… Read More »The Ideal Business Structure – Impact of Changes in Tax Rates
Real Estate has historically been a preferred investment choice for many Indians and the sector has been driven to a large extent through investments made in the residential property segment. A joint report from JLL and CREDAI has estimated that housing sector investments in India since 2014 amounted to Rs. 59,000 crore and accounted for approximately 47% of the total investments in the sector with projections indicating further increase in… Read More »Impact of GST on Real Estate