Indian Budget 2018-2019 Highlights

Indian Budget

Mr. Arun Jaitley, the Finance Minister of India presented the general Indian Budget 2018-19 on Thursday. This Budget is Mr. Jaitley’s fifth budget and lasts for NDA government before the government polls. This is also the first budget after one of the biggest economic reform Goods and Service Tax (GST). Indian Budget 2018-19 Highlights The Union Budget was led with a sensible and realistic approach on practical considerations. The idea to strengthen agriculture, rural and tribal development, health and safety, education Micro Small Medium Enterprise and Infrastructure sectors and industry…

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Impact of GST On Religious and Charitable Trusts

Impact of GST

Goods and Service Tax is one single indirect tax system on the supply of goods and services, which will make India one unified common market and impact of gst. GST is applied right from the manufacturers to the end consumer. The tax reform was launched from 1st July 2017 in which the system is divided into CGST, SGST, UTGST and IGST for Central, State and Union Territories levels. Impact of GST on religious and NGO trusts This tax reform has been beneficial for many sectors and industries and also at…

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GST on Bloggers, Freelancers and Youtubers

GST on Bloggers, Freelancers and Youtubers

GST has been launched from 1st July 2017 and there are lots discussions going on whether GST applies to Bloggers, Youtubers, Freelancers and Affiliate Marketers. (GST on Bloggers, Freelancers and Youtubers)This confusion is keeping every freelancers and chartered accountants in a dilemma. GST on Bloggers, Freelancers and Youtubers As per Section 7 of CGST Act, 2017, each supply whether products or administrations or both (except few) are dealt with as supply under GST. That implies, bloggers secured under GST administration as in light of the fact that they give/supply administrations.…

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Satyam Scam: SEBI Bans Price Waterhouse For 2 year

SEBI

On Wednesday, SEBI found PWC guilty in the Satyam scam and therefore; suspended its network entities from engaging in audit work with any listed company in India for 2 years; for its role in Rs 8,000-crore Satyam scam that took place in 2009. The ban will come into effect from the FY 2018-19 and won’t affect the auditing work for the year 2017-18. Satyam Scam: SEBI bans Price Waterhouse for 2 years SEBI found the audit firm guilty in the nine-year-old Rs. 7,136 crore Satyam Computer Services Ltd scam. In…

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Accidental Death & Compensation

Accidental Death & Compensation (ITR Required) If a person is dead due to an accident and if he was filing ITRs for the last 3 years; then the government is liable to give 10 times the average annual income of the last 3 years to that person’s family. For example, if someone’s annual income is 4 lakh, 5 lakhs and 6 lakhs in the first, second and third years respectively, its average income is 10 times of five lakhs, i.e., 50 Lakh rupees. Thus, the family of that person is…

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