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E-commerce platforms like amazon, filipkart, snapdeal has expanded with a great speed. These platforms allow other traders on sell on these platforms. A trader is required to get registered under GST to be able to sell on these platforms. Here is a …
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Is Interest on Home Loan Considered as a Part of Cost of Acquisition?
Legal Basis As per Section 24B, interest paid on a home loan shall be allowed as a deduction at the time of computing income from house property. Section 48, 49 and 55, suggest the manner of computation of capital gain and the …
Read More »Deferred Payment or Payment in Instalment of GST Demand
A taxable person can apply to the commissioner under Section 80 of CGST Act for extension of time for payment of GST, Interest, Penalty or any amount under GST. The taxable person can also apply for payment in instalments. The main condition …
Read More »GST on Job Work
As per Section 2 (68) of CGST Act “job work” means any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly. Registration (Section 22) The supply of goods …
Read More »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 …
Read More »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 …
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