23rd GST Council Meeting – Modification in Composition Scheme

In India when businesses engaged in the distribution of commodities or supplies services have a turnover beyond Rs 20 Lakhs, then those companies are required to complete registration under GST. However, in North-eastern states and states in hilly areas, the turnover is relaxed to Rs 10 Lakhs. Casual registration is made by an individual who supplies goods or provides services on …

23rd GST Council Meeting – Modification in GST Rate for Goods

In India when businesses engaged in the distribution of commodities or supplies services have a turnover beyond Rs 20 Lakhs, then those companies are required to complete registration under GST. However, in North-eastern states and states in hilly areas, the turnover is relaxed to Rs 10 Lakhs. However, in the 23rd GST Council Meeting, the modification in GST …

What is 26AS-Learn to download it through TRACES Website

What is Form 26 AS?

Form 26 AS is detailed document providing information about the tax withhold on an individual’s revenue by the deductors. All the information about the tax accumulated by the collectors is present there. Furthermore, details about the early payment of tax paid by the taxpayer can be found as well. The self- evaluation of tax payments and …

Guidebook required to print and send ITR-V to CPC in Bangalore

What is ITR-V?

A one-page document which requires signing in blue ink is referred to as ITR-V. It is sent through the ordinary post and/or speed post. However, the option to courier the ITR-V is not available. The Centralized Processing Centre or CPC generates an exceptional PIN CODE 560500. This is done by Income Tax Department of the Department …

GST SERVICES IN INDIA- A New Tax System

Concept of GST

The concept of Goods and Services Tax (GST) was first implemented on 1st July 2017. "GST Services in India” is considered as one of the most praise worthy changes in the Indian taxation system. On 29th March 2017, the GST Act was passed in the Lok Sabha and it has been termed as a ‘Good and Simple Tax’. This …