Introduction With the implementation of the Goods and Services Tax (GST), many consumers have been confused about whether they must still pay service charges at restaurants, hotels, and other service-oriented businesses. This article provides a step-by-step understanding of the service charge, its applicability after GST, its benefits, limitations, and frequently asked questions. Definition… Read More »
Introduction Taxation is an integral part of any economy, allowing governments to generate revenue for public welfare and infrastructure development. One such tax that businesses and service providers need to be aware of is Service Tax. This article will provide a step-by-step explanation of service, covering its definition, benefits, applications, limitations, and more. Definition… Read More »
What is meant by net proceeds in taxation In taxation, the term “net proceeds” refers to the amount of money left after all allowable deductions, expenses, and costs have been subtracted from the total gross income or gross proceeds. The concept of net proceeds is essential for both individuals and businesses because it determines… Read More »
What is referral income and how is it taxed Referral income refers to the commission or incentive received by an individual for referring someone or a business to another individual or company. Referral income form of income is commonly earned by professionals in the sales or marketing field and it is taxed. To visit https://www.gst.gov.in/… Read More »
User Intent Users searching for the difference between land revenue, land income, and land tax are likely seeking a clear understanding of these terms. They may be students, property owners, or professionals dealing with land transactions. This article provides a step-by-step comparison of these terms, including definitions, applications, benefits, limitations, and a… Read More »
Difference Between Income tax and income tax return Difference between income tax and ITR, income tax is a form of taxation impose by the government on the earnings of individuals, businesses, and other entities within a given financial year. It operates under a progressive tax system, where the tax rate rises as the income level… Read More »
Which items are liable for cess in GST In GST, cess is levy on certain goods or services that are consider to be luxury or sin goods, such as cigarettes, tobacco products, pan masala, aerated drinks, and luxury cars. For more information to visit https://www.gst.gov.in/ The proceeds from the cess are mean to be use… Read More »
