Author: les_developer
GST Impact on Co-operative Housing Societies
les_developer
,
05 May 2021

GST Impact on Co-operative Housing Societies

GST is applicable not just to Individuals and Corporations but also to housing societies. Society is collective body of persons who stay in a residential society. As a collective body of persons, they would be supplying certain services to its members, be it collecting statutory dues from its members and remitting to statutory authorities, maintenance […]
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Old Versus New Tax Regime
les_developer
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18 Mar 2021
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The New Tax Regime VS the Old Tax Regime

In Budget 2020, our Finance minister surprised everyone by introducing a new tax regime under section 115BAC. This new tax regime has lower tax rates but took away exemptions and deductions available to taxpayers. With this new tax regime came the announcement that taxpayers can themselves choose between new or old tax regime. So now […]
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les_developer
25 Feb 2021
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Interest Liability Under GST

This is a topic that is being heatedly debated in recent past ever since the CBIC started recovery of interest liability from taxpayers on delayed payment of  tax liability. Section 50(1) of the CGST Act states about interest on delayed payment of tax liability or wrongful availment of Input tax credit (ITC). Let us understand […]
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les_developer
11 Jan 2021
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Aadhar Authentication / e-KYC for Existing Taxpayers

For those existing taxpayers who don’t yet have Aadhar available, functionality has now been introduced for Aadhar Authentication and e-KYC. This facility has been deployed on the GST Common Portal w.e.f. 6th January, 2021. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD, and Composition taxpayers can do their authenticate their […]
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Job work under GST
les_developer
30 Dec 2020
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Job Work Under GST

What is classified as Job Work under GST? Section 2(68) of the CGST Act 2017 defines job work. The definition is as follows: “Any treatment or process undertaken by a person on goods belonging to another registered person.” As such, a job worker is any person (registered / unregistered) who treats or processes the goods […]
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