Snehal khanna Blog

Jurisdiction-free e-assessments, gradual reduction in personal tax rates in line with changes in corporation tax and enhanced tax breaks for education of kids are among other key demands BUDGET NEWS  :           A Deloitte survey of pre-price range expectations of managers on non-public income tax indicates that maximum give a thumbs-as much as aligning the tax 12 months with the calendar 12 months. Jurisdiction-free e-assessment of tax returns, a sluggish reduction in non-public tax rates in line with adjustments to the agency tax structure and more suitable tax breaks for education of kids are among different key price range 2018 needs from Finance Minister Arun Jaitley . Indian managers are keen to align the tax 12 months (April-March) with the calendar yr (January-December), no matter chances of preliminary hardships. In a survey of round 700-ordinary managers, a majority of respondents (eighty four in keeping with c...

Jurisdiction-free e-assessments, gradual reduction in personal tax rates in line with changes in corporation tax and enhanced tax breaks for education of kids are among other key demands BUDGET NEWS :   A Deloitte survey of pre-price range expectancies of managers on private profits tax indicates that maximum supply a thumbs-up to aligning the tax yr with the calendar 12 months. Jurisdiction-free e-assessment of tax returns, a gradual reduction in non-public tax costs in line with changes to the company tax structure and improved tax breaks for schooling of kids are amongst other key finances 2018 demands from Finance Minister Arun Jaitley . Indian managers are keen to align the tax yr (April-March) with the calendar year (January-December), despite probabilities of preliminary hardships. In a survey of round seven-hundred-atypical managers, a majority of respondents (84 in step with cent) need the Indian tax year to be modified from the economic 12 months to the c...

Experts help clear doubts around the impact of the new indirect tax regime on businesses LATEST NEWS : I am a service provider having offices in multiple states. Under the service tax regime, I had a centralised billing system. Under the GST regime , should I change my billing system and start raising invoices from the local branch? Jivi Jebaraj, Chennai In the GST regime, service providers are required to obtain registration in each state where they have a place of business. The concept of centralised registration is now redundant. If the services are entirely supplied from the branch, or the branch plays a significant role in supplying the services, then such a branch shall be required to raise invoices and charge applicable GST. It is critical to identify the “establishment” rendering the service and the “establishment” receiving the service to complete the input tax credit chain. How do I ensure that I pass on the benefit to consumers in accordance with the ant...

Govt has given 3 months time to reprint revised MRPs under the Packaged Commodities: Paswan tweeted Latest news : The government on Tuesday warned that legal action will be initiated against manufacturers for not printing the revised MRP post rollout of the GST. Food and Consumer Affairs Minister Ram Vilas Paswan said the government has given three months time till September to reprint the revised maximum retail price (MRP) with the implementation of the landmark Goods and Services Tax (GST) . In a series of tweets, Paswan said that prices of some commodities have fallen, while some have increased with the implementation of GST. "Fall in prices due to lower GST should be passed on to consumers. ...The government will take legal action against vendors not declaring revised MRP after GST," he said. The revised rates should be displayed on commodities so that consumers are aware what is the MRP of each item after GST, he added. "The government has given...

Renault has reduced prices of vehicles ranging between Rs 5,200 & Rs 1.04 lakh by 7% in India Latest news     : French car major Renault on Wednesday announced a reduction in the price of its vehicles by up to 7 per cent in India, ranging between Rs 5,200 and Rs 1.04 lakh, to pass the GST benefit to its customers. The company has cut price of its hatchback Kwid Climber AMT between Rs 5,200 to Rs 29,500, SUV Duster RXZ AWD between Rs 30,400 to Rs 1,04,700 and that of Lodgy Stepway RXZ between Rs 25,700 to 88,600. "Reflecting our customer-first approach, we have decided to pass on GST benefits to our customers, further enhancing the value proposition of our products," Renault India Operations Country CEO and Managing Director Sumit Sawhney said in a statement. The roll out of the GST is one of the biggest achievements of the government, facilitating one nation, one tax system, aimed at fostering a congenial business environment, he added. ...