GST on Freight Charges- Who can pay and exemptions

GST on Freight Charges- Who can pay and exemptions

When a Goods Transport Agency (GTA) is required to pay tax on a specific freight service at a specific rate, this is referred to as GST on freight. When it comes to the GST rate on freight charges, there are two alternatives. This tax may be paid by GTA at a rate of...
Difference Between GST and VAT

Difference Between GST and VAT

GST, or Goods and Services Tax, has cast a shadow over India’s indirect taxation system, which includes VAT, excise duty, and service tax. The fundamental reason for this is because taxes no longer have a cascading effect on the economy. VAT (Value Added Tax) is...
Section 143(1) of the Income Tax Act

Section 143(1) of the Income Tax Act

Intimation letter under section 143(1) of the Income Tax Act Once an assessee files a return for a given assessment year, it is sent to the department for processing. The assessee receives an intimation from the income tax department under Section 143(1) once the...
Development of Banking System in India

Development of Banking System in India

Commercial banks (both public and private), Regional Rural Banks, Cooperative Banks, etc. our banking system. The nationalization of banks is one of the significant events in the development of the Indian banking system. The event paved the way for India’s...
Swavalamban Pension Yojana

Swavalamban Pension Yojana

The Government of India has developed many pension schemes from time to time in order to make senior individuals in the unorganized sector financially secure and independent. One such project was the Swavalamban Scheme also known as the NPS Swavalamban Scheme....