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Assessment of impact on digital advertising companies Present Scenario For services rendered by a digital advertising company, it charges a service tax @15% For input services availed by a company, it claims an input tax credit (“ITC”) However, a digital advertising company is not eligible to claim ITC on any products used in producing digital
Learn MoreOrganised retailers do not expect the Goods and Services Tax (GST) to impact their sales despite general fears that it could disrupt businesses, and hope to be fully ready for the uniform tax regime in the next few weeks. “As GST will be rolled out from July 1, we have to be prepared. It will
Learn MoreGST Laws in India mandate that all registered persons under GST maintain records and accounts in a specified manner. Every law of Direct and Indirect Tax in our country also mandates that information in a prescribed manner has to be captured and preserved for a certain period of time. In this article, we look at
Learn MoreWhat is a income tax return ? It is a prescribed form through which the particulars of income earned by a person through various sources(like salary, business, professional fees, interest, capital gains, etc.) in a financial year and taxes paid on such income is communicated to the Income tax department after the end of the
Learn MoreWith the passage of the GST bill in both the houses of Parliament, its implementation from 1 July 2017 is nearly certain. India currently has a dual system of taxation of goods and services, which is quite different from dual GST. Taxes on goods are described as “VAT” at both Central and State level. It
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