Businesses in India can now claim their GST refund by submitting a single form. Here, we discuss the different types of GST refunds available and the process for claiming it.
The Indian tax department has clarified that foreign companies must pay 40 percent tax even if their residency status changes from non-resident to resident by virtue of place of effective management (POEM) rules.
Employee services from the headquarters of a firm to its offices in other states will attract GST as it will be considered a taxable ‘supply of service’ under the CGST Act, as per a Karnataka AAR order.
India allows SMEs and professionals to file their taxes under the presumptive taxation scheme if they meet certain qualifications.
Any person in India, whose estimated tax liability is more than Rs 10,000 (US$145) in a financial year, after deducting TDS, must pay income tax in advance.
Income tax returns in India must be filed by the deadline of July 31, 2018, where the income earned during FY 2017-18 will be accounted for. Filing after the deadline will incur penalties.
Learn about the income tax returns (ITR) forms for financial year (FY) 2017-18 and assessment year (AY) 2018-19 as well as their applicability.
One year since the GST rolled out in India, businesses seek key changes in way the indirect tax system operates.