THE FOURTH SCHEDULE TO TRADE MARKS RULES, 2002 Classification of goods and services – Name of the classes Class 1. Chemical used in industry, science, photography, agriculture, horticulture and forestry; unprocessed artificial resins, unprocessed plastics; manures; fire extinguishing compositions; tempering and soldering preparations; chemical substances for preserving foodstuffs; tanning substances; adhesive used in industry Class 2 . Read More
Income Tax Last date for filing income tax Returns for FY 2018-19 extended to June 30 2020 Interest rate for payments due for FY 2018-19 made till June 30 2020 reduced to 9% for tax payments (from 12%) and 9% for Tax withholding payments (from 18%) Dates for issue of notices, initiation, filing of appeals. Read More
ESIC Due Date Extension for February & March, 2020 – Covid 19 P-11/14/Misc./1/2019-Rev dtd 16.03.2020 Keeping in view the pandemic in the form of “Corona virus” (COVID-19) in the country, the Director General has relaxed the provision as entered in regulations 26 & 31 of ‘The Employees’ State Insurance (General) Regulations, 1950′ . The proviso Read More
Changes in the GST rates The 39th GST Council meeting happened on Saturday, 14th March 2020 at New Delhi. The Union Finance Minister Nirmala Sitharaman chaired this meeting and the rates of certain products have been increased. GST on mobile phones and specified parts was increased from 12% to 18%. This decision was taken to Read More
The GST Council, in its 39th meeting held on 14.03.2020, has made the following recommendations: Continuation of existing system of furnishing FORM GSTR-1 & FORM GSTR-3B till September, 2020 The dates for implementation of e-invoicing and QR Code to be extended to 01.10.2020. Measures for Trade facilitation: Interest for delay in payment of GST to Read More
1. Who can opt for Composition Scheme A taxpayer whose turnover is below Rs 1.0 crore* can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh. As per the CGST (Amendment) Act, 2018, a composition dealer can also supply services to an extent of ten percent of Read More
Section 195 of the Income Tax Act, 1961, is basically concerned about the Tax Deducted at Source (TDS) for the non-resident people of India. This section basically highlights the tax rates and deductions related to all business transactions. What is section 195 of IT Act? Tax Deducted at Source is the first way of collecting Read More
