Trader Turnover

Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

In India it's been a wave of YouTube influencers as well as a host of private stock-tipping social media chat groups that have drawn millions of day traders into discount brokers like Zerodha Broking Ltd, Angel Broking Ltd and SoftBank Group-backed Paytm's broker app.

A day-long meeting of the powerful GST council to revisit compliance rules for businesses and make what have been described as "structural changes" in the new national tax regime, has concluded. The review comes after feedback and complaints from businesses and amid criticism from the opposition over the way GST has been implemented. The focus toda...

Under GST, trader, manufacturer and restaurants are not required to register or pay tax in case of annual turnover below Rs 20 lakh.

Traders with turnover of below Rs 20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime which has kicked in from July 1.

Apart from the above exclusions, traders, manufacturers and owners of restaurants who have turnover below Rs 75 lakh will have to pay one per cent, two per cent and five per cent tax, respectively, if they opt for the Composition Scheme under the GST.

The historic GST or goods and services tax will be launched midnight at a function in Central Hall of Parliament. The biggest tax reform since Independence will change the indirect tax landscape of the country, subsuming over a dozen central and state taxes. GST embodies the principle of "one nation, one tax, one market", unifying the country's $2 ...

The GST Council on Sunday allowed traders, manufacturers and restaurants with turnover of up to Rs 75 lakh to avail of the composition scheme, against Rs 50 lakh earlier.

Union Minister Arjun Ram Meghwal said the government has received suggestions fromseveral trade bodies for increasing the turnover limit underthe composition scheme.

Currently, small traders, with turnover of up to Rs 2 crore who do not maintain proper accounts are presumed to have earned 8 per cent income or profit.

The government on Monday amended the income tax rule to offer this benefit to small traders.

In a bid to promote less cash economy, the government today said small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means.

Small traders having annual turnover of up to Rs 20-25 lakh will be exempt from Goods and Services Tax (GST), and the Centre and the states are likely to agree to this limit, Revenue Secretary Hasmukh Adhia said on Thursday.

Amid a sharp decline in the turnover of commodity exchanges, the Forward Markets Regulator (FMC) has come out with a revised policy to allow traders to take higher positions in commodities traded on the exchanges in order to improve depth and liquidity in the market.

Nifty June 2010 futures at discount to spot priceNifty June 2010 futures were at 4,985, at a discount of 18.10 points compared to spot closing of 5,003.10. Turnover in NSE's futures & options (F&O) segment jumped to Rs 1,54,507.23 crore from Rs 1,32,052.82 crore on Wednesday, 26 May 2010 as traders rolled over positions in the derivatives segment f...

Tax officers will give reasonable time to traders to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

In India it's been a wave of YouTube influencers as well as a host of private stock-tipping social media chat groups that have drawn millions of day traders into discount brokers like Zerodha Broking Ltd, Angel Broking Ltd and SoftBank Group-backed Paytm's broker app.

A day-long meeting of the powerful GST council to revisit compliance rules for businesses and make what have been described as "structural changes" in the new national tax regime, has concluded. The review comes after feedback and complaints from businesses and amid criticism from the opposition over the way GST has been implemented. The focus toda...

Under GST, trader, manufacturer and restaurants are not required to register or pay tax in case of annual turnover below Rs 20 lakh.

Traders with turnover of below Rs 20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime which has kicked in from July 1.

Apart from the above exclusions, traders, manufacturers and owners of restaurants who have turnover below Rs 75 lakh will have to pay one per cent, two per cent and five per cent tax, respectively, if they opt for the Composition Scheme under the GST.

The historic GST or goods and services tax will be launched midnight at a function in Central Hall of Parliament. The biggest tax reform since Independence will change the indirect tax landscape of the country, subsuming over a dozen central and state taxes. GST embodies the principle of "one nation, one tax, one market", unifying the country's $2 ...

The GST Council on Sunday allowed traders, manufacturers and restaurants with turnover of up to Rs 75 lakh to avail of the composition scheme, against Rs 50 lakh earlier.

Union Minister Arjun Ram Meghwal said the government has received suggestions fromseveral trade bodies for increasing the turnover limit underthe composition scheme.

Currently, small traders, with turnover of up to Rs 2 crore who do not maintain proper accounts are presumed to have earned 8 per cent income or profit.

The government on Monday amended the income tax rule to offer this benefit to small traders.

In a bid to promote less cash economy, the government today said small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means.

Small traders having annual turnover of up to Rs 20-25 lakh will be exempt from Goods and Services Tax (GST), and the Centre and the states are likely to agree to this limit, Revenue Secretary Hasmukh Adhia said on Thursday.

Amid a sharp decline in the turnover of commodity exchanges, the Forward Markets Regulator (FMC) has come out with a revised policy to allow traders to take higher positions in commodities traded on the exchanges in order to improve depth and liquidity in the market.

Nifty June 2010 futures at discount to spot priceNifty June 2010 futures were at 4,985, at a discount of 18.10 points compared to spot closing of 5,003.10. Turnover in NSE's futures & options (F&O) segment jumped to Rs 1,54,507.23 crore from Rs 1,32,052.82 crore on Wednesday, 26 May 2010 as traders rolled over positions in the derivatives segment f...