RBGConsultants

1. Income Tax Advisory The five sources of income i.e. income from Salary, House Property, Business and Profession , Capital gains and Income from other sources. So advisory in returns with clubbed income, Stock Option Transactions, NR Tax Returns, requiring understanding of DTAA, Advance Tax Issues etc. and Services in Income Tax advisory includes: i.                     Provides Advisory service relating to changes in tax policies, administration & regulations and Domestic & International taxation. ii.                   Identify potential threats & opportunities and advise on appropriate strategies to mitigate exposure and optimize tax incidence on clients.  iii.                 Develop a detailed underst...

Introduction of GST GST is one indirect tax for the whole nation, which will make India one unified common market. GST is on supply of goods and services rather than on production, trading or service rendered. It is destination based tax i.e. it is taxable in state in which goods or services are consumed.  It is a single tax on the supply of goods and services , right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages. Presently most of the items are levied at 40%-50% tax rates but due to introduction of GST flat tax rate shall be applicable which will reduce tax burden on consumers. Applicability of GST Ø   With the 101st Constitution Amendment Act coming into ...

E-COMMERCE An Electronic Commerce to mean the supply or receipt of merchandise as well as services , or transmitting of assets or information, over an electronic network, basically the internet, by utilizing any of the applications that rely on the internet, like yet not limited to e-mail, texting, shopping baskets, web services, universal description Discovery and integration(UDDI), File Transfer Protocol (FTP) and Electronic Data Interchange (EDI) whether or not the payment is conducted online and whether or not the ultimate delivery of the products and additionally services is done by the operator. E-COMMERCE OPERATOR E-Commerce operator is a person who, directly or indirectly, claims, operates or manages an electronic platform which is engaged in encouraging the supply of any merchandise and additionally services. Likewise a person giving any information or some other services incidental to or in connection with such supply of merchandise and enterprises through electron...

Place of Supply of Goods with analysis of Clause (a) (b) and (c) of sec 10 of IGST with treatment of Ex-factory supply. Sec 10 (1)  The place of supply of goods , other than supply of goods imported into, or traded from India, might be as under,–– (a) Where the supply includes development of goods, regardless of whether by the provider or the beneficiary or by some other individual, the place of supply of such goods might be the area of the goods at the time at which the development of goods ends for conveyance to the beneficiary; (b) Where the goods are conveyed by the provider to a beneficiary or some other individual on the course of a third individual, regardless of whether acting as an operator or something else, earlier or amid development of goods, either by method for exchange of records of title to the goods or else, it should be considered that the said third individual has gotten the goods and the place of supply of such goods might be the vital place of busine...