Buyers must now pay the Goods and Services Tax (GST) on maintenance fees as well as the GST on any property acquisition. In this article, we will discuss ‘GST on…
The Food Safety and Standards Act, 2006 was implemented by the Government of India in order to regulate and prevent the food industry. The Food Safety and Standard Act of…
On February 1, 2020, Finance Minister Nirmala Sitharaman presented the Annual Budget 2020. The new tax regime was first implemented in the preceding budget. In this article, you will learn…
The taxability of gifts is a popular and frequently asked subject among taxpayers. In this article, you'll learn about the numerous rules relating to the ‘TAX ON SALE OF PROPERTY…
Taxation of individuals in India is primarily based on their residential status in the relevant tax year. The taxability of an individual in India depends upon his residential status in…
Section 154 of the Income Tax Act, 1961, Section 154 provides a possibility for the assessing officer to rectify any mistakes or errors in the income tax records that were…
Filing of GST returns is compulsory for every taxpayer. Despite the passing of almost 3 years since the enactment of GST laws, many mistakes are still being committed by GST…
Foreign Tax Credit (‘FTC’) According to a Ministry of External Affairs report, there are 32 million NRIs and OCIs residing outside India. Many Indian residents migrated abroad to countries like…
Agriculture is the primary source of livelihood and source of income for about 58% of India’s population. As we all know that income which is received from agricultural activities know…
In this article, we have listed as such items, which are not eligible for the input tax credit under GST. But first, we need to understand the term ‘ITC’. ITC…