CA Foundation Knowledge Portal:
Announcement regarding seminar on this Saturday. I have explained im detail in the video about what all things we would be discussing in seminar. Pls book your seat in advance. See you all on Saturday....!!!
Announcement regarding seminar on this Saturday. I have explained im detail in the video about what all things we would be discussing in seminar. Pls book your seat in advance. See you all on Saturday....!!!
Forwarded from CA Foundation Knowledge Portal
Tommorrow will be the last date for registering for seminar on December 3..
CA Foundation Knowledge Portal:
Lecture 2 of GST class for Nov 2019 students has been uploaded on youtube for benefit of students who could not attend face to face class.
Till now 3 lectures pf GST have been done with the 4th one on Tuesday.
Students free from their Bcom and other exams can register on numbers given in Video to get face to face or Google link classes
Lecture 2 of GST class for Nov 2019 students has been uploaded on youtube for benefit of students who could not attend face to face class.
Till now 3 lectures pf GST have been done with the 4th one on Tuesday.
Students free from their Bcom and other exams can register on numbers given in Video to get face to face or Google link classes
Forwarded from CA Foundation Knowledge Portal
Cement may become cheaper, GST Council meeting next week https://www.livemint.com/Politics/8tuR2fDMP31hykng4LqqTL/Cement-may-become-cheaper-GST-Council-meeting-next-week.html
Livemint
Cement may become cheaper, GST Council meeting next week
The council has pruned the 28%slab by cutting tax rates on 191 goods over the last one-and-a-half year, leaving only 35 items in the highest slab.
As we discussed in last lecture of GST, GST Council ultimately decides the tax rates that are thereafter notified by CG and SG...GST Council is meeting on 22nd December and they are planning to further cut down the list of items being subjected to 28% tax
Seminar on different career choices for a chartered accountant..Whether to choose consultancy,industry job or practice..Do join for a seminar on Saturday,December 22 at 2:30 pm..Entry on registration basis(No fees)
New GST rates are out, here's what all just got cheaper
https://economictimes.indiatimes.com/news/economy/policy/gst-council-meet-heres-what-will-become-cheaper-for-you/articleshow/67206133.cms
https://economictimes.indiatimes.com/news/economy/policy/gst-council-meet-heres-what-will-become-cheaper-for-you/articleshow/67206133.cms
The Economic Times
GST Council meet: Here's what will become cheaper for you
FM Jaitley said that the recommendations by the fitment panel were considered in today's meet.
As i discussed in class 4, GST Council meeting today has reduced rates on many items. Pls note that this is just GST Council recommending rate cuts. After this CG will notify these rates under CGST Act and IGST Act and SG under SGST.
Disclaimer : This update is only for knowledge purpose. Since rates on specific goods are not part of CA Inter syllabus, this update has no impact on exams. I am sharing these only for knowledge purpose
Another imp update is that change in return filing process would change and it would start on test basis from 1st April 2019. At present i dont think this amendment would be applicable for Nov 2019, but if Gov notifies all rules before 30th Aprilz they would get applicable for nov 2019 and we wl cover them through amendment class
Many students had been enquiring that they couldn't join the CA -Inter batch that started from 3rd December and if they join now will they be able to understand..
I have completed with contract Act and will be starting with Negotiable Act from January 2, Wednesday..
Its a altogether new Act with no connection to contract Act,so u can easily start with it
Contact:Seema ma'am (9310824912) for further enquiries
I have completed with contract Act and will be starting with Negotiable Act from January 2, Wednesday..
Its a altogether new Act with no connection to contract Act,so u can easily start with it
Contact:Seema ma'am (9310824912) for further enquiries
*Outcome of 32nd GST Council Meeting -FM Arun Jaitley press meet*
*1. Threshold limit increased to 40 Lakhs*
Effective April 1, the GST exemption threshold has been raised from Rs 20 lakh to Rs 40 lakh. For hilly states and those in the North East, the threshold has been doubled to Rs 20 lakh.
*Earlier in a press talk AP FM said increased to 50lakhs, but it is increased to 40lakhs only as said by FM*
*2. Power to states*
Now states will be able to choose if they want to keep the GST exemption limit at Rs 20 lakh or Rs 40 lakh, Jaitley said.
*3. Composition limit increased to 1.5Cr from the present 1 cr*
The existing Composition Scheme turnover threshold raised to Rs 1.5 crore.
Those who use the scheme from April 1,2019
*4 Quarterly payment and Annual Return*
Now Composition tax payers will pay tax quarterly, but file returns annually.
*5 Composition scheme for services*
Those providing services or mixed supplies (goods and services) with a turnover up to Rs 50 lakhs will now be entitled to avail composition scheme.
*6 Rate for services under comp scheme @ 6%*
Compounding rate for services under composition scheme is fixed at 6 percent.
*7 RealEstate*
A committee has been set up to consider real estate GST rates, a consensus is yet to be achieved, says FM Arun Jaitley.
*8 Calamity cess by Kerela @1%*
GST Council lets Kerala levy 1% cess for 2 years on intra-state sales: Finance Minister arun jaitley.
*1. Threshold limit increased to 40 Lakhs*
Effective April 1, the GST exemption threshold has been raised from Rs 20 lakh to Rs 40 lakh. For hilly states and those in the North East, the threshold has been doubled to Rs 20 lakh.
*Earlier in a press talk AP FM said increased to 50lakhs, but it is increased to 40lakhs only as said by FM*
*2. Power to states*
Now states will be able to choose if they want to keep the GST exemption limit at Rs 20 lakh or Rs 40 lakh, Jaitley said.
*3. Composition limit increased to 1.5Cr from the present 1 cr*
The existing Composition Scheme turnover threshold raised to Rs 1.5 crore.
Those who use the scheme from April 1,2019
*4 Quarterly payment and Annual Return*
Now Composition tax payers will pay tax quarterly, but file returns annually.
*5 Composition scheme for services*
Those providing services or mixed supplies (goods and services) with a turnover up to Rs 50 lakhs will now be entitled to avail composition scheme.
*6 Rate for services under comp scheme @ 6%*
Compounding rate for services under composition scheme is fixed at 6 percent.
*7 RealEstate*
A committee has been set up to consider real estate GST rates, a consensus is yet to be achieved, says FM Arun Jaitley.
*8 Calamity cess by Kerela @1%*
GST Council lets Kerala levy 1% cess for 2 years on intra-state sales: Finance Minister arun jaitley.