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Author : Deepak


GST is meant to bring every indirect form of tax under one roof. For small and medium sized businesses, owners or manufacturers have to take care of different taxes and have to run to various departments to fulfill all the tax-related documentations. Some file different  taxes  annually, half-yearly.     THE CHANGES IN TAX RATE COME INTO FROM JULY […]

Repair expenses of motor vehicles -is ITC available?

  Through CGST  Amendment Act 2018, the law on this point has been amended by inserting clause (ab) to Sec. 17(5) to specifically deal with the matter. The meaning and purport of this new clause is that ITC in respect of services of general insurance, servicing, repair and maintenance related to a motor vehicle is […]

MSMEs to be decided based on turnover

  The Micro, Small and Medium Enterprises growth (Amendment) Bill provides for change in the standard of classification of MSMEs from the existing based on ‘investment in plant and machinery or equipment’ to ‘annual turnover‘ of the enterprise. The Micro, Small and Medium Enterprises Amendment) Bill, was introduced  by the Minister of State for Micro, Small and Medium […]

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