The Goods and Services Tax Network (“GSTN”) has introduced an option to file NIL GSTR-1 by selecting the check box without going through the process of generating a summary #Fin4UConsultancy
CBIC reduces e-Invoicing limit to 10 Crore from existing limit of 20 Crore w.e.f. 1st October, 2022 vide Notification No 17/2022 - Central Tax dated 1st August, 2022
Persons having turnover of 10 Crore or more in a Financial year has to generate e-Invoice #Fin4UConsultancy
Rent to Parents to Medical checkup - 6 useful Tax deductions you can claim while filing Income Tax Return for FY 2021-22 #Fin4UConsultancy#News18
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Tour Operator Services provided to a foreign tourist for the tour performed in India is proportionately taxed based on the number of days spent in India & Outside India.
Fumigation Services now taxable
Major Changes in GST w.ef. 18/7/2022
Renting of residential dwelling to a registered person is taxable
Hotels, Inns, Guest house, club or campsite by whatever name called - charging even less than 1000/- per room per night now taxable at 12%
Warehousing Services of Nuts & Vegetables, Spices, Copra, Sugarcane, Jaggery, Raw Vegetables Fibres such as Cotton, flax, jute etc., indigo, unmanufactured tobacco, betel leaves, tendu leaves & coffee withdrawn & taxable.