GST JAANKARI

" Customs duty" in India refers to the tax levied on goods imported into or exported out of the country. It is a crucial component of the country's economic policies, serving both fiscal and protective purposes. The customs duty is administered by the Central Board of Indirect Taxes and Customs (CBIC), under the Department of Revenue, Ministry of Finance. Types of Customs Duty: 1. Basic Customs Duty (BCD): This is the main component and is applied to the assessed value of the imported goods. The rates vary based on the nature of the goods and the country of origin. 2. Additional Customs Duty (ACD): Also known as Countervailing Duty (CVD), it is imposed to counterbalance any subsidies provided by the exporting country. 3. Protective Duties: These are imposed to safeguard domestic industries from unfair competition. Anti-dumping and safeguard duties fall under this category. 4. Education Cess: It is levied as a percentage of the aggregate of duties of customs to fund educat...

Very important Income Tax Updates and compliance:- क्या होगा अगर MSME द्वारा की गई Purchases की Payment Outstanding है? Micro तथा Small units से की गई Purchase का पेमेंट  31st March को outstanding रहने पर बड़ी Tax Liability आ सकती है। इसलिए अभी से Planning करे। 1.  Micro and small enterprises से की गई Purchase/Expense का Deduction तभी मिलेगा यदि उसका पेमेंट Supplier से तय किये गये Credit Period i.e agreement for payment (Maximum–45 दिन ) मे कर दिया गया हो | 2.  यदि कोई Credit Period तय नहीं की गई है तो ऐसे Case में पेमेंट की Terms 15 दिन ही मानी जाएगी। दोनों पार्टी यदि सहमत हो तो भी इस प्रावधान के लिए 45 दिन से अधिक का समय Allowed नहीं होगा। 3.  उदाहरण के तौर पर यदि आपकी 15 lakh की Purchase/Expenses का पेमेंट 31st मार्च को 45/15 दिन से अधिक समय से बाक़ी हैं तो 15 lakh आपकी आय में जुड़ जाएँगे और उसपर लगभग 4.5 लाख तक की Tax Liability आ सकती हैं | 4. Micro enterprise का अभिप्राय ऐसी फ़र्म से है जिसका Plant and Machinery में Investment 1 Crore  से ज्यादा नहीं हो और...

आधुनिक दुनिया में जीवन की अनिश्चितताओं ने प्रत्येक व्यक्ति के लिए पर्याप्त बीमा कवर प्राप्त करना अनिवार्य बना दिया है। यह निजी क्षेत्र के कर्मचारियों के लिए विशेष रूप से महत्वपूर्ण है जो सार्वजनिक क्षेत्र के कर्मचारियों के समान सामाजिक सुरक्षा लाभ का आनंद नहीं लेते हैं। निजी क्षेत्र के कर्मचारियों को जीवन बीमा का लाभ देने के लिए, सरकार ने 1976 में कर्मचारी जमा लिंक्ड बीमा योजना (EDLI) शुरू की है। कर्मचारी जमा लिंक्ड बीमा योजना क्या है? केंद्र सरकार ने कर्मचारी जमा लिंक्ड बीमा योजना, 1976 मे बनाई जो की 01.09.1976 से लागू हुई। यह असम राज्य में चाय कारखानों को छोड़कर सभी कारखानों और अन्य प्रतिष्ठानों पर लागू होता है जिन पर अधिनियम लागू होता है। कर्मचारी जमा लिंक्ड बीमा योजना या EDLI, EPFO (कर्मचारी भविष्य निधि संगठन) द्वारा निजी क्षेत्र के वेतनभोगी कर्मचारियों के लिए प्रदान किया जाने वाला एक बीमा कवर है जो EPFO के सदस्य हैं। सेवा की अवधि के दौरान बीमित व्यक्ति (कर्मचारी) की मृत्यु की स्थिति में पंजीकृत नामांकित व्यक्ति को एकमुश्त भुगतान मिलता है। EDLI योजना कर्मचारी भविष्य निधि और विविध प...

TDS stands for Tax Deducted at Source. It is a system of collecting tax on income at the source of payment. The payer of the income, known as the deductor, is required to deduct tax at a specified rate and deposit it with the government. The recipient of the income, known as the deductee, is entitled to claim a deduction for the TDS paid in their income tax return. There are a wide range of incomes that are subject to TDS, including salaries, interest, rent, commission, professional fees, and payments for goods and services. The rates of TDS vary depending on the type of income and the taxpayer's income slab. TDS is an important mechanism for the government to collect tax revenue and prevent tax evasion. It also helps taxpayers to manage their tax liability throughout the year. Here are some of the benefits of TDS: It helps to ensure that taxes are paid on time. It helps to prevent tax evasion. It helps taxpayers to manage their tax liability throughout the year. It provides a refu...

The Indian stock market capitalization, also known as market cap, is the total value of all the listed companies' shares on the stock exchanges in India. It is a measure of the size of the Indian stock market and reflects the collective value of the companies listed on the exchanges. As of February 25, 2023, the market capitalization of the Indian stock market was approximately Rs. 249 lakh crore or USD 3.3 trillion. This makes the Indian stock market one of the largest in the world, behind only the US and China. The Indian stock market consists of two main exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), both headquartered in Mumbai. The BSE is the oldest stock exchange in Asia, founded in 1875, while the NSE was established in 1992. Together, they have a combined market share of over 90% of the total market capitalization of the Indian stock market. The Indian stock market has seen significant growth over the years, driven by a number of factors, ...

  1. As per the GST council decision to notify "Restaurant Service" under section 9(5) of the CGST Act, 2017 along with other services notified earlier such as motor cabs, accommodation and housekeeping services wherein the tax on such supplies would be paid by electronic commerce operator if such supplies made through it, Notification No. 17/2021- Central Tax (Rate) and 17/2021- Integrated Tax (Rate) dated 18.11.2021 have been issued. Accordingly, the tax on supplies of restaurant service supplied through e-commerce operators, shall be paid by the e-commerce operator with effect from the 1st January 2022. 2. In light of the above, E-commerce operator and registered person would report taxable supplies notified under section 9(5) of CGST Act, 2017 and similar provisions in IGST/SGST/UTGST Act in the following manner.  3.   For more details, please refer to CBIC circular No. 167/23/2021 dated 17.12.2021. 1.  जीएसटी परिषद के निर्णय के अनुसार सीजीएसटी अधिनियम, 201...