If you are in the business and claiming ITC under GST is a headache for you, there is a good news for you all. CBIC has launched a new ITC claim system – Invoice Management System (IMS). The GST portal has introduced new Invoice Management System (IMS) to enhance how you as a taxpayer, can manage and validate invoices for ...

The tax system in India is always changing, with new regulations being adopted on a regular basis to improve compliance and enforcement strategies. The Central Goods and Services Tax (CGST) Act will undergo major modifications as a result of the Finance Act of 2024, (Budget 2024).  A prominent modification is the establishment of a new section, 74A, which deals with ...

In India, the National Pension System (NPS) is a well-liked retirement savings plan that provides a flexible investment framework and tax advantages. If you now subscribe to NPS, you may be wondering how to adjust your investing choices to better suit your financial objectives or the state of the market. The good news is that you may easily change your ...

With its array of investment possibilities and tax benefits, the National Pension System (NPS) is one of the most widely used retirement planning instruments in India. However, just like any investment, the performance of NPS funds might change depending on your decisions, especially when it comes to the asset class and Pension Fund Manager (PFM) that you choose to invest ...

let’s talk about something that might sound a bit complicated but is actually pretty straightforward once we break it down—GST on salvage value in motor vehicle insurance. Don’t worry if you find terms like “salvage value” or “GST” confusing; we’re going to simplify everything for you. What is Salvage Value? Imagine you have a car, and unfortunately, it’s been in ...

Generating a monthly pension of ₹1 lakh using the National Pension System (NPS) is achievable with proper financial planning, consistent contributions, and the power of compounding over time. Here’s how you can plan for it, including detailed calculations and an understanding of the risks and rewards involved. Understanding NPS and Its Benefits The National Pension System (NPS) is a government-backed, ...

In a recent development, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 214/8/2024-GST on June 26, 2024, providing crucial clarifications regarding the treatment of life insurance premiums under the Goods and Services Tax (GST) regime. This circular addresses concerns related to the reversal of Input Tax Credit (ITC) for life insurance policies, particularly the portions of ...

On July 10, 2024, the Ministry of Finance issued Notification No. 15/2024-Central Tax. This notification, published in the Gazette of India, introduces a significant amendment to the existing GST regulations by reducing the rate of tax collection at source (TCS) under the Central Goods and Services Tax (CGST) Act, 2017. This change is poised to impact businesses and governmental agencies ...

When you start earning for your livelihood, you start thinking of savings and investment. First result after duly searching, you will get “buy a life insurance or endowment policy”. What is an endowment policy? You can read my previous post- Term insurance vs Endowment Policy Explained (No Jargon) But, before you jump in, you need to make sure you’re making ...

Investing in the stock market can be difficult, especially with the daily fluctuations in stock prices. However, with the right tools and strategies, you can make informed decisions and minimize losses. One such powerful tool is the Moving Average (MA). In this article, we will explore what a Moving Average is, how to use it in stock analysis, why it’s ...