Daily Archives: February 5, 2018

CBDT : 24 FAQs on Long Term Capital Gain on Shares as proposed in Finance Bill 2018

By | February 5, 2018

F. No. 370149/20/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 4th February, 2018 Subject: Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018-reg Under the existing regime, long term capital gains arising from transfer of long term capital assets,… Read More »

Generic FAQs on GST Registration Application

By | February 5, 2018

Generic FAQs 1. What does the red asterisk (*) appearing besides the fields in the Enrolment Application indicate? Red asterisk (*) indicates mandatory field. You need to fill all mandatory fields to submit the Enrolment Application successfully. 2. Why is the ‘PAN Verification Failed’ message displayed? The ‘PAN Verification Failed’ messages is displayed when the… Read More »

FAQs on Goods & Services Tab in GST Registration Application

By | February 5, 2018

Goods & Services Tab 1. What is HSN and SAC code? HSN stands for Harmonized System of Nomenclature which is internationally accepted product coding system used to maintain uniformity in classification of goods. SAC stands for Service Accounting Codes which are adopted by the Central Board of Excise and Customs (CBEC) for identification of the services. 2. Why the… Read More »

FAQs on Principal Place of Business Tab in GST Registration Application

By | February 5, 2018

Principal Place of Business Tab 1. What is Principal Place of Business? Principal Place of Business is the primary location within the State where a taxpayer’s business is performed. The principal place of business is generally the address where the business’s books of accounts and records are kept and is often where the head of… Read More »

FAQ’s on Enrollment under GST

By | February 5, 2018

1. Who is an existing taxpayer? An existing taxpayer is an entity currently registered under any State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax Act. Existing taxpayers include taxpayers already registered under :- Central Excise Service Tax State Sales Tax or VAT (except exclusive liquor dealers if registered… Read More »

Category: GST