Complete Guide to Generate e-Way Bill Online

Recently, the Government of India has introduced an electronic form of Way bill known as the e-Way bill. The bill is mandatory for inter-state transport of goods where the value is more than ₹50,000. The bill has already been rolled out by the Government on a trial basis from 16 January 2018. However, with this … Read more

Explanatory Notes to the Provisions of the Finance Act 2017

CIRCULAR No. 2/2018 F. No. 370142/15/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* Dated, 15th of February, 2018 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2017 CIRCULAR INCOME-TAX ACT Finance Act, 2017 ─ Explanatory Notes to the Provisions of the Finance Act, 2017 CIRCULAR NO. … Read more

Union Budget 2018 – Budget 2018 Analysis in a Very Simple Way

You can check here the complete analysis of Union Budget 2018 in a very simple language along with highlights. You can also download the complete PDF of Union Budget 2018 analysis from here. Download Complete Union Budget 2018 Analysis – PDF Format ECONOMIC PERFORMANCE: 2017-18 State of Indian Economy After registering GDP growth of over … Read more

Income Tax Highlights in Union Budget 2018

Union Budget 2018 Highlights Related to Income Tax Long Term Capital Gains on listed securities i.e. Gain on shares or Mutual Funds held for more than one year was earlier exempt from Income Tax. Now for gain above Rs.1 Lakhs ,tax @ 10% without any indexation benefit has been levied. However any gain upto 31/01/2018 … Read more

Complete Highlights of the Budget 2018

The Budget for 2018 was presented on 1 February 2018 in the Parliament by the Finance Minister of India, Arun Jaitley. This was the fifth and the last budget of the current Government. Upcoming elections, impact of demonetization and economic growth has been the primary concern of the citizens. So, without any further delay let’s … Read more

Download Union Budget 2018-19 PDF – Finance Bill 2018

As you all know the Union Budget 2018-19 has been presented by Sh. Arun Jaitely on 1st February 2018. Here you can download the complete official document of Union Budget 2018-19 in PDF format along with other official documents. Here is the complete list of official documents related to Union Budget 2018-19. Key to Budget … Read more

GSTR-6 Deadline Extended to 31 March 2018

CBEC, under the recommendation of GST Council, has notified that the form GSTR-6 can be filed upto 31 March 2018. Form GSTR-6 is in respect of Input Service Distributor (ISD) and tax payers were required to file their GST return for the period July 2017 to February 2018. Check the official notification here:

Revised Late Fee for Form GSTR-1, GSTR-5, GSTR-5A and GSTR-6

CBEC has notified that the late fee for Form GSTR-1, GSTR-5, GSTR-5A and GSTR-6 will now stand at ₹25 per day. Cases where the tax payer has a NIL tax liability, the fine amount shall be ₹10 per day. Earlier, the late fee for the above-mentioned forms was ₹50 per day (₹20 where tax liability … Read more

GST Migration Period Expires, Fresh Registration to Start Soon

The GST council has confirmed via tweet that tax payers whose Provisional ID for GST has not been activated would be required to register through a fresh process. As per the department notification earlier in 2017, the migration period for tax payers was 6 months from the date of implementation of GST. The same came … Read more

Recommendation Made During 25th GST Meeting on 18-01-2018

Here are the following recommendation have been made by the GST council in its 25th meeting held at New Delhi on 18th January 2018. [tnc-pdf-viewer-iframe file=”http://www.alerttax.in/wp-content/uploads/2018/01/18.01.2018.pdf” width=”100%” height=”800″ download=”true” print=”true” fullscreen=”true” share=”true” zoom=”true” open=”true” pagenav=”true” logo=”true” find=”true” current_view=”true” rotate=”true” handtool=”true” doc_prop=”true” toggle_menu=”true” language=”en-US” page=”” default_zoom=”auto” pagemode=””]

Final Confirmation e-Way Bill Roll Out by Ministry of Finance

The Ministry of Finance has declared that e-Way bill is being launched throughout the nation from 16 January 2018. The roll out is currently on trial basis. However, stakeholders can start using e-Way bills from the aforesaid date in order to get used to the latest system. With effect from 1 February 2018, e-Way bill … Read more

Goods Movement will Become Easier from 1 Feb 2018 through e-Way Bill

From 1 February 2018 onward transportation of goods from one state to the other will become easier and hassle-free as parties needs to generate separate transit passes. With e-Way bill coming into the picture, parties can now generate an online e-Way bill which is valid throughout India. Any movement of goods from one state to … Read more

Composition Tax Under GST Reduced to 0.5% w.e.f 1st January 2018

CBEC in its latest notification has declared that the rate of composition tax will now stand at 0.5% with effect from 1 January 2018. This will affect people belonging to the category of manufacturers and suppliers. Earlier under GST, the rate of composition tax was 1.0%. The same has been reduced by 50% in the … Read more

GSTN offers revised return for tax payers through Table 9 of GSTR 1

GSTN offers revised return for tax payers through Table 9 of GSTR 1 The GSTN has recently introduced a small facility for rectification of values mentioned in debit note, credit note, etc. The opportunity will allow tax payers whose annual turnover is less than ₹1.5 crore to make amendments in their existing return for the … Read more

e-Way bill becomes mandatory from February 1, 2018: GST Council

Transportation of goods across or within the state valued at more than ₹50, 000 will now attract an e-Way bill. The GST Council in a meeting on 16 December 2017 has decided that with effect from February 1, 2018, all goods ferrying within or intra-state would require an e-Way bill. The meeting also the presence … Read more