Concept of Deemed Sales and GST Clause 29A of Article 366 of the Constitution of India, inserted by 46th amendment to the Constitution gains very much importance as the same lays down the concept of Deemed sale and enables the states to tax certain transactions. This was important as taxes were levied either on “Sale […]
Government has simplifies ITR forms to be less painful to Filing tax returns Income tax form for salaried person will be introduced from April 1, doing away with some columns to simplify the filing of returns. Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income […]
Ten most important changes in Income tax which will apply from 1st April 2017 With the passage of the Finance Bill on Wednesday, the Lok Sabha has completed the budgetary exercise for 2017-18. The Income tax proposals in the Budget 2017 have now become law.
APPLICABILITY OF GST LAW ON EDUCATIONAL INSTITUTIONS As per the present Service-tax law, all educational institutions are exempt from service-tax. In this regard, reference can be made to Notification on providing for exemption vide which all schools rendering education from pre-school to higher secondary level, are exempt.
AGRICULTURE UNDER GST – WHETHER TAXABLE The revised model GST law on GST (version-II) defines agriculture and agriculturist. The agriculture under GST is out of scope of GST and agriculturist is not a taxable person.