Govt. of India has introduced new changes in GST slabs – Check how it will benefit you

The government, in an attempt to simplify the Goods and Services Taxes (GST) regime in the country, is planning to lower the number of tax slabs in the upcoming meeting in mid-March, reports Times Now. The Centre government will likely ask the states to look at merging 12 per cent and 18 per cent tax slabs into […]

Continue Reading

List of Benefits of Income tax & GST you should definitely need to know

National Pension System (NPS) is one of the lowest cost pension schemes globally and it can be concluded that investing in NPS not only helps to reduce taxable income but at the same time enables building a corpus that is essential for leading a dignified post-retirement life. However, among many NPS Scheme beneficiaries, it is […]

Continue Reading

Special Festival Advance Scheme Announced for Government Employees: Check 5 Benefits

Finance Minister Nirmala Sitharaman today announced a special Festival Advance Scheme for central government employees revived as a one-time measure. Festival advance along with similar advances were abolished on the recommendation of the 7th pay commission. But to spur consumer demand in an economy hit by coronavirus pandemic, the government decided to restore it as a one-time […]

Continue Reading

Due date for FY19 GST Return Filing Date Extended till October 31

The Central Board of Indirect Taxes & Custom (CBIC) on Wednesday extended the last day for filing annual GST return for FY 2018-19 by one month, to October 31. “After obtaining due clearances from the Election Commission in view of the Model Code of Conduct, the Government has extended the due date for furnishing Annual […]

Continue Reading

Register for GST Number through Aadhaar Number Online, Follow these Simple Steps

The Central Board of Indirect Taxes and Customs (CBIC) notified that starting from August 21, 2020, businesses that will provide Aadhaar number while applying for registration under the Goods and Services Tax will get the approval in three working days. The notification also provides that in case businesses do not provide Aadhaar number, then GST […]

Continue Reading

Good News for Taxpayers! Taxation Bill has Been Passed. Check List of Benefits & key Changes

To provide compliance relief to taxpayers amid the coronavirus pandemic, Lok Sabha has recently passed a Bill that amends taxation laws. The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill 2020, will replace the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020, promulgated in March. The Bill also prescribes some […]

Continue Reading

GST Registered Businesses to Get Pre Filled Return Form Soon, Check benefits for you

GST-registered businesses will soon get pre-filled Return form, GSTR-3B, GST Network Chief Executive Officer Prakash Kumar said on Monday. “We are moving towards providing taxpayers with a pre-filled GSTR-3B form so that they can pay their taxes at ease. To start with, an option to edit the form would be provided to allow businesses to make past […]

Continue Reading

Cash rewards and more! Goods and Services Tax Network (GSTN) launches this creative contest – What it is and how it works

Goods and Services Tax Network (GSTN) has unveiled creative contest to bring taxpayers closer to tax system. The Goods and Services Tax Network (GSTN) has launched a creative contest namely “GST-n-You” that will allow people to come up with their own videos and graphics on various recent initiatives and reforms on GST. This is yet […]

Continue Reading

GST Registration through Aadhaar Authentication can be done in this way

New businesses can now opt for a quick authentication of their credentials using Aadhaar, and secure Goods and Services Tax (GST) registration.The Central Board of Indirect Taxes and Customs (CBIC) last week notified Aadhaar authentication for GST registration with effect from 21 August 2020. Aadhaar authentication is expected to facilitate genuine and honest taxpayers while at the […]

Continue Reading

Have Discrepancies in Last Year’s ITR? I-T Dept gives You a Chance to Rectify before Serving Notice

Did you do any high value transaction or other transactions in the last financial year that make filing the Income Tax Return (ITR) mandatory, but you didn’t file the return? Or, did the return of income that you filed have discrepancies or deficiency in the income disclosed than what you actually earned? Beware! The Income […]

Continue Reading