As we know, Medicines and medical kits are the life-savers and therefore it is necessary to have an idea of what rate they are taxed at as eventually, it is going to influence the end price at which they are sold. Medicines and other medical kits for human and veterinary medicine are taxed at four … Read more
Under the Union Budget 2021, Finance Minister Nirmala Sitharaman has announced the notification to increase the tax audit threshold limit from Rs. 5 crores to Rs. 10 crores. Also, this decision provides much-needed help to organisations and businesses that transact electronically. It aims to promote cashless digital transactions and reduce the burden of compliance for … Read more
As per the new notification by FSSAI, All food products in which edible oils and fats have utilised as an ingredient will not include industrial trans fatty acids more than 2% by mass of the inclusive oils or fats present, on and from January 1, 2022. In this article, we will discuss on India to … Read more
The Central government has extended the deadline for filing the annual return of the Goods and Services Tax (GST) for 2019-20 by two months after businesses and tax authorities demanded respite on grounds of complexities in agreement and disruptions due to the Covid-19 pandemic, government officials said. In this article, we will discuss File GSTR-9 … Read more
Hydroponics is soil-less cultivation where plants are grown without soil and by furnishing nutrients to water and roots are submerged in water to grow (soil-less growth of plants and without conventional soil. Also, It implies artificial means to help and nutrient solutions to provide the required nutrition to plants. In this article, we will discuss … Read more
With the aim of Atamnirbhar Bharat, Finance Minister Nirmala Sitharaman made an important announcement of the Union Budget of 2021-2022 on February 1st 2021. This budget included many reforms in multiple ways. One of the important reforms is about Dispute resolution. In this article, we will read about the Dispute Resolution Committee to have multiple … Read more
The QRMP scheme came into existence to reduce the burden of monthly GST returns on the taxpayer. The central board of indirect taxes and customs has launched this Quarterly Return Monthly Payment. Also, Any registered taxpayer who has a turnover of less than 5 crore INR can participate in the same. In this article, we … Read more
In India, If you already have an EPF account. You might have also heard about PF or EPF, which means the Employee Provident Fund. It is a government scheme to provide benefits of saving for each employee. This scheme also allows tax exemptions on the returns of up to Rs. 1.5 lakh. Besides, the interest rate … Read more
The finance ministry issued the notification that released the 17th weekly instalment of Rs 5,000 crore to 23 states including Jammu and Kashmir. The total amount issued as the portion of the special borrowing window set up in October 2020 to Rs 1 lakh crore. In this article, we will discuss the GST compensation shortfall … Read more
CBIC has issued the notification on Aadhar authentication of CGST Act, 2017 shall not apply to a person who is, not a citizen of India or a Department or establishment of the Central Government or State Government or a local authority. In this article, we will discuss Person to whom Aadhar Authentication not applies CBIC … Read more