gst
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Top 10 Latest Updates on GST You Should Know in 2024
Goods and Services Tax (GST) is India's comprehensive indirect tax system, which was implemented in July 2017 to replace multiple taxes such as VAT, Excise Duty, and Service Tax. GST is levied on the supply of goods and services, with the tax rate varying depending on the type of goods and services provided. GST is a destination-based tax, which me...
Riya · 1 day ago · 1What is Capital Gains Tax rules & regulations?
Investing in a house property is one of the most popular investments, primarily because you get to own a home. Others may invest with the intention of profiting from the property when they sell it. It is important to note that a residential property is considered a capital asset for income tax purposes. As a result, any gain or loss incurred during...
Riya · 1 week ago · 1What are the Depreciation Rates & Rules of Income Tax Act
According to the Income Tax Act, depreciation is the reduction in an asset's value brought on by use, deterioration, aging, or obsolescence. The Income Tax Act permits an entity's depreciation costs to be subtracted from its taxable income. Since de...
Riya · 25 April · 1
What are the Depreciation Rates & Rules of Income Tax Act
According to the Income Tax Act, depreciation is the reduction in an asset's value brought on by use, deterioration, aging, or obsolescence. The Income Tax Act permits an entity's depreciation costs to be subtracted from its taxable income. Since de...
Riya · 25 April · 1
"Export of services" under GST!
What is meant by “export of services” under GST? As per section 2(6) of the IGST Act, 2017, "export of services" means the supply of any service when, (i) The supplier of service is located in India (ii) The recipient of service...
logitax · 10 April · 2
“Aggregate Turnover” under GST
What is the definition of “Aggregate Turnover” under GST? The term "Aggregate Turnover" under GST, defined in section 2(6) of the CGST Act, 2017, refers to the total value of all taxable supplies (excluding inward supplies subject to rev...
logitax · 10 April · 2
What Are Indian Accounting Standards?
Indian Accounting Standards Indian Accounting Standards (Ind AS) are a set of accounting standards notified by the Ministry of Corporate Affairs (MCA), Government of India, in accordance with the Companies Act, 2013. These standards are largely conv...
Riya · 30 March · 1
"Continuous Supply" under GST!
What is meant by continuous supply under GST? According to section 2(33) of the CGST Act, 2017, a "continuous supply of services" refers to the provision of services that are either provided or agreed to be provided continuously or periodically unde...
logitax · 26 March · 2
Important activities every businessman should complete before 31st March.
Important Things to do before financial Year End In India, the financial year is from April 1st to March 31st every year. As a result, the 31st of March is a critical deadline for meeting significant financial obligations. The mercantile system...
Riya · 16 March · 1
Reverse Charge Mechanism under GST- Part II
Which are the goods on which RCM is applicable? As per Notification No. 4/2017 - Central Tax (Rate) and Notification No. 4/2017 - Integrated Tax (Rate), following are the supplies of goods in which case RCM is applicable: Which are the services on which RCM is applicable? As per Notification No. 13/2017 - Central Tax (Rate) and Notification No...
logitax · 14 March · 2Navigating Passport Procedures: Jai Maa Santoshi Passport Consulting on Ghodbunder Road, Thane.
In the bustling city of Thane, the need for efficient passport consulting services has never been greater. Among the various options available, Jai Maa Santoshi Passport Consulting stands out as a reliable and experienced partner in simplifying the c...
Jai maa santoshi passport consulting · 14 March · 1
What is GSTR-1? | How to file GSTR 1
What is GSTR-1? Goods and Services Tax (GST) has revolutionized the taxation system in India by replacing multiple indirect taxes with a unified tax structure. Under the GST regime, businesses are required to file various returns to comply with tax regulations. One such crucial return is GSTR-1, which is pivotal in the GST compliance framework...
Riya · 07 March · 2Difference Between Old Vs New Tax Regime: Which is Better?
A Guide to Tax Rates in the Old and New Regime The choice between the old tax regime and new tax regimes depends on various factors, including individual financial situations, income levels, and specific deductions or exemptions that a taxpayer...
Riya · 01 March · 1
Difference Between Old Vs New Tax Regime: Which is Better?
A Guide to Tax Rates in the Old and New Regime The choice between the old tax regime and new tax regimes depends on various factors, including individual financial situations, income levels, and specific deductions or exemptions that a taxpayer...
Riya · 01 March · 1
The Impact of Budget 2024, Income Tax, and GST
Budget Analyzing the Impact on Income Tax and GST The government has decided to leave the current rates of direct and indirect taxes unchanged. On February 1, 2024, Finance Minister Nirmala Sitharaman unveiled the Interim Budget 2024, which offers some reforms and relief for businesses and taxpayers under the Goods and Services Tax (GST) regime. A...
Riya · 10 February · 1Advantages & Benefits of Marg Accounting Software
Advanced Tips and Tricks for Marg Accounting Marg Accounting Software has long been a trusted companion for businesses seeking a robust solution for their financial management needs. While the software offers a user-friendly interface for basic accounting tasks, there are numerous advanced features and hidden gems that can significantly...
Riya · 17 January · 1