Latest Tax News & Updates

Posted in Articles News Judiciary Notification

Maharashtra Profession Tax One Time Payment Of Tax Scheme

Goods And Services Tax - 03-Apr-2019

Maharashtra Profession tax OTPT Scheme-Summary and Practical Guide The Government Of Maharashtra vide Notification No. PFT.1218/C.R.52/Taxation-3 makes available an optional scheme for the payment of profession tax, in advance, for an enrolled person, under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. Summary of the Scheme and Practical Aspects as under – 1. Date of Effect Deemed to be into Force w.e.f 01.04.2018 i.e PTEC...

Continue Reading...

Analysis of Goods And Services Tax

Goods And Services Tax - 29-Mar-2019

Goods and Services Tax (GST) is an indirect tax (or consumption tax) imposed in India on the supply of goods and services. GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer. Goods and services are divided into five tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. 32% However, Petroleum products, alcoholic drinks, electricity,...

Continue Reading...