Good news for importers as there is the latest update for importing watermelon seeds. As per the latest updates, DGFT has launched a new notification for importing watermelon seeds. This article discusses the recent updates about DGFT grants unrestricted import status for watermelon seeds. What is “Free” or “Unrestricted” status in Import? The DGFT does … Read more
Indian state finance ministers have requested that the goods and services tax (GST) be increased by 10% to the highest slab rate of 28%, which is anticipated to hurt the country’s fledgling online gaming industry. This article will update you about the latest news of GST on Online Gaming. Latest Survey for GST on Online … Read more
A tax deducted at source (TDS) of one percent will be implemented from July 1, 2022, after a 30 percent tax on crypto asset gains, which will take effect on July 1, 2022. There is still a lot of confusion about how the government intends to collect taxes and the different parts of the TDS, … Read more
Due to the approaching deadline, the Goods and Service Tax Network (GSTN) has urged e-com operators to file TCS returns in form GSTR-8 by the 10th of June 2022. TCS is similar to TDS under GST and it is important for every e-commerce operator. Here this article discusses all that you need to know as … Read more
Online Gaming Sector is on rise in India. However, the Online Gaming Sector is also taxable under GST. Therefore, GST on online gaming sector is a must understand concept for everyone including taxpayers, online gamers and gaming businesses. This article explains the important concepts relating to GST on online gaming sector. How GST applies on … Read more
Good news might come anytime soon as the GST govt may exclude small ecommerce sellers from registration. This may motivate entrepreneurs and further boost e-commerce business in India. Furthermore, this may also provide relief to small e-commerce sellers who had already been hit by the pandemic. Let’s read the latest update of the GST govt … Read more
An important update for taxpayers as the government will now impose a penalty if PAN Card is not linked with Aadhar. The deadline for linking PAN cards with Aadhar Cards was extended till March 31, 2023. The previous deadline was March 31 this year. However, now taxpayers who haven’t linked their PAN Card with AAdhaar … Read more
Good news for taxpayers and LLPs as the government has recently announced a massive relaxation. The notification comes from MCA and is an opportunity for LLPs but only for a short duration. You must take advantage of this opportunity and save yourself from hefty penalties. Let us understand the latest news of Late fee waive … Read more
GST on pan masala and gutkha could be scrapped because of difficulties in administering the ITC (input tax credit) mechanism. This article discusses the latest information about GST on Pan Masala based on Installed Capacity or Actual Production. GoM’s Investigation into levying GST Odisha’s finance minister, Niranjan Pujari, led a group of ministers (GoM) set … Read more
A massive relaxation for LLPs as LLP annual return form-11 due date is extended. LLP annual return form-11 is an important return that LLPs must file every year. The announcement of due date extension without paying an additional fee brings an opportunity for every business having LLP Registration to be compliant with laws and avoid … Read more