Articles by Taxblock
View Full Profile
What is GSTIN?
Taxblock 15 October 2021 at 09:55Every business that operates in a state or union territory is assigned with a unique Goods and Services Tax Identification Number, which is generally known as GSTIN.
Notices and appeal under GST
Taxblock 14 October 2021 at 10:23A notice can be named as a show cause notice, scrutiny notice or demand notice. This depends on the objective of the notice and the gravity of default or any action which is required from a taxpayer.
GST Return Filing
Taxblock 14 October 2021 at 10:23GST Return Filing is a compulsory process for every person who has a business and is registered under the GST Act. It is a very critical activity and a link between the government and the person who is paying the tax.
Basic overview of CGST, SGST, IGST and UTGST
Taxblock 07 October 2021 at 09:27There were multiple taxes before GST such as Central Excise, Service Tax and State VAT etc. whereas under GST there is only one tax with three different components i.e., CGST, SGST and IGST.
Section 194N: TDS on heavy cash withdrawal from Banks / Post Offices
Taxblock 07 October 2021 at 09:27With the amendment in Finance Act, 2020 section 194N was amended by substituting 83A which imposes 2% TDS on withdrawal of sum exceeding Rs.1 crore. This section has come into effect from 1st July 2020.
What is an SEZ, tax & trade implications on companies located in SEZ?
Taxblock 04 October 2021 at 09:38A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose.
Vlogging New Industries and Tax Applicability on Vlogging
Taxblock 30 September 2021 at 09:36If you are pursuing YouTube as your full time profession, you will be taxed under Income from Business or Profession. If it’s a part time earning, the income will be taxable under Income from Other Sources.
Understanding Loans, Types of Loans For Individuals & Businesses and Tax Benefits around Them
Taxblock 30 September 2021 at 09:36Business loan interest is eligible for exemption, however, the principal amount of the loan is not provided with any tax benefit. The interest is usually deducted from gross income.
Sukanya Samriddhi Yojana Scheme and its Tax Benefits
Taxblock 30 September 2021 at 09:36Investments made under Sukanya Samriddhi Yojana Scheme are eligible for deduction under Section 80C. The interest accrued on the investment is also eligible for tax exemption.
GST department not allowed to collect any tax/ interest/ penalty without issuance of notice u/s 74(1)
Taxblock 28 September 2021 at 09:35Telangana High Court gave a decision in the case of Deem Distributors Private Ltd Vs Union of India, in which the GST department will not be allowed to collect any Tax/Interest/Penalty without the issuance of notice under section 74(1) of the Goods and Service Tax Act, 2017.
Popular Articles
- RCM on Rent for Family-Owned Properties: Impact of Notification No. 09/2024
- GST Compliance Alert: Check and Rectify Past Claims Before November 2024
- Revision TDS Return Online: Process and Advantages
- Resolving Gaps Between GSTR-2B and GSTR-3B Data
- GST Amnesty Scheme 2024: Sec 128A of CGST Act 2017
- Updates Related To Revamp of IT Act 1961
- Understanding the New IMS (Invoice Management System) on GST Portal
- Choosing the Best Tax Regime for an Annual Income of Rs 10 Lakh: New vs Old
CAclubindia
