Daily Archives: August 9, 2017

GST ITC if assessees making fully exempt supplies : Issues

By | August 9, 2017

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 19. Treatment of Credit for assessees making fully exempt supplies Section 17(2) of the CGST Act, 2017 provides that where the goods or services or both are used by the registered person partly for effecting taxable supplies including zero-rated supplies under CGST… Read More »

Category: GST

Extend GST Composition Scheme to Service Sector : ICAI

By | August 9, 2017

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 14. Availability of Composition Scheme to various assessees Section 10 of the CGST Act, 2017 provides for Composition Scheme availability to registered persons whose aggregate turnover in the preceding financial year did not exceed Rs. 75 lakh. Issue The benefit of composition… Read More »

Category: GST

GST on GTA / GST on Goods Transport Agency : In-depth Analysis

By | August 9, 2017

GST on GTA /GST on Goods Transport Agency In depth Analysis of GST on GTA services as per GST act of India w.e.f 01.07.2017 GST Service classification heading for Goods Transport Services is 9965. The groups in this heading are Land transport services of goods (99651), water transport services of goods (99652) Air and space… Read More »

Telangana govt to approach courts if GST on public projects not removed

By | August 9, 2017

Expressing serious resentment over the levying of the Goods and Services Tax (GST) on ongoing government projects, Telangana Chief Minister K Chandrashekar Rao said his government would wage a legal battle against the ‘unilateral decisions’. The Chief Minister registered a serious protest against the decisions taken at the GST Council meeting on Saturday. The Council… Read More »

Category: GST

USA IRS 8 Tips to Protect Taxpayers from Identity Theft

By | August 9, 2017

Eight Tips to Protect Taxpayers from Identity Theft Identity Theft : FAQ Phishing-Malware  Identity theft happens when someone steals personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund. Many people… Read More »

Category: USA

USA IRS Issuing Notices to Taxpayers whose ITINs Expire

By | August 9, 2017

IRS Begins Issuing Notices to Taxpayers whose ITINs Expire by End of 2017 IRS YouTube Videos: Individual Taxpayer Identification Number – English | Spanish  IR-2017-128, Aug. 8, 2017 WASHINGTON – The Internal Revenue Service began mailing letters this month to more than 1 million taxpayers with expiring Individual Taxpayer ‎Identification Numbers and urges recipients to renew them as… Read More »