How to make Payment of TDS (Video & Text Guide)
How to make Payment of TDS All corporate assessee and other assessees who are subject to compulsory audit under section 44AB are compulsorily required to use an electronic transfer to make payment of TDS. TDS is paid by Challan No./ITNS 281. Payment link – NSDL. Step 1 – Go to https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp Step 2 – Select […]
Procedure for Online Submission of Statement of TDS/TCS
Earlier, for filing TDS/TCS statement, deductor/collector has to submit the signed statement physically at TIN facilitation centres. To overcome this manual process of submitting statement physically, CBDT issued a Notification No. 6/2016 on 04 May 2016 which laid down the complete procedure for filing the TDS/TCS statement online from anywhere without visiting TIN facilitation centres. […]
Beginner’s Guide to GST
Beginner’s Guide to GST This guide is for businessmen and students who wants to have a basic working knowledge of GST. The guide is arranged in a logical manner and written in easy to understand language. We recommend to read chapters one by one but feel free to jump the part which is not applicable […]
GST on Import
Article 269A of constitution mandates that import of goods or services in India is considered as Inter-state trade. Therefore, import of goods or services is considered as interstate supply and is liable for payment of IGST. IGST on the import of services would be leviable under the IGST Act, the levy of the IGST on […]
GST on Co-operative Housing Society
What is Co-operative Housing Society Co-operative housing societies are the entities registered under the co-operative laws of the respective state and which provide its member’s amenities and services relating to housing. In simple words, it is a collective body of persons, who stay in a residential society and would be supplying certain services to its […]
GST on Education Services
Education is defined as “Education is a process of training and developing the knowledge, skill and character of students by normal schooling.” Taxation of education services is a sensitive issue as it is the basic right of every person to get an education and levying GST on it have a major impact on the society. […]
How to cancel an e-Way bill
Rule 138 of CGST Rules define the provisions of the e-Way bill. A registered person needs to generate an e-way bill where the goods need to be moved from one place to another and the value of such goods is more than Rs. 50,000 in the following cases: – Sales of goods Movement of goods […]
Deemed Export under GST
What is Deemed Export? “Deemed Exports” refers to supplies of goods manufactured in India which are notified as deemed exports under Section 147 of the CGST/SGST Act, 2017. It is to be noted that services are not considered as deemed exports. The supplies do not leave India. The payment for such supplies is received either […]
Zero Rated Supply
As per section 2(47) of the CGST Act, 2017, a supply is said to be exempt, when it attracts nil rate of duty or is specifically exempted by a notification or kept out of the purview of tax (i.e. a non-GST supply). But when a supply is exempted from payment of tax, it doesn’t mean […]
Ayushman Bharat – Pradhan Mantri Jan Arogya Yojna (PMJAY)
Ayushman Bharat or PMJAY is a scheme of National Health Protection Mission Council. It is a social health insurance scheme for the general citizens of India. Ayusham Bharat scheme was announced in the 2018-19 budget and subsequently approved by the Cabinet on 21st March 2018. As announced by our Prime Minister Hon’ble Shri. Narendra Modi […]