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A huge country like India needs a common taxing system for trade. Currently, there are lots of issues in the tax system between state to state. Commodities also floating on different taxing systems. This will lead an unstable or delay in transfer goods from states. So the present government of India plans to impose the GST.

GST - A general tax system for entire India. If the GST tax system implements in the trade market, there are lots of benefits may occur stated by the government. But we can't judge anything before it happens.

GST is a common tax system where it will help to the business people in different ways. Transport of your goods through roadways, import and export product from other countries. Handel a one point tax system will make our job easier and effectively.

If GST applicable in the market, the following tax will be waived out.

Central Excise Duty
Service Tax
Countervailing Duty
Special Countervailing Duty
Value Added Tax (VAT)
Central Sales Tax (CST)
Octroi
Entertainment Tax
Entry Tax
Purchase Tax
Luxury Tax
Advertisement taxes
Taxes applicable on lotteries.

If the GST passed, what are the product will become costlier in the Indian market

As a Report
Vehicles cost may increase. Particular commercial vehicles cost become costlier
Mobile phones and mobile phone accessories cost will increase
Textile products and related products cost goes higher
Cigarette and related products like tobacco cost will increase
4 Meter cars price will decrease, two wheeler cost and SUV car rates also comes down.
Automobile accessories also become cheaper. Batteries cost may cut down
Civil products like cement, paint prices will come down
Entertainment taxes like film movie ticket also comes down
Some electronics items like ceiling fans, LED lighting, solar water heaters, residential air coolers, etc. will get cheaper.

There are lots of advantage and disadvantage will mix in the GST implementation. Let's see how its change our Indian tax system


http://www.chennaiconsultancy.co.in/ca/gst-tax-benefits-india/

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Service tax registration
Service tax registration is a mandatory for all service provider in India. According to Section 69, every person who doing business service liable to make payment of service tax to the Government. Service tax is linked to your PAN Card or your company PAN Card.

Documents required registering a Service Tax

1 Copy of PAN Card

2 Residence addresses of proprietor/partners

3 Memorandum of association or partnership deed

4 Power of attorney/board resolution in respect of authorized signatory, his name and address detail

5 Proof of address of premises for which single or centralized registration took A copy of telephone bill.electricity



Service tax is a tax imposed by the Government of India for those who provide services to their customers. In general, a provider can collect some percentage of extra money from his clients, then pay that money to government is called services tax. Services tax change depend on the services offers. It also changes the percentage by it own.

Services tax is mandatory for all services providers. In some cases, it may exclude such as agriculture industries. If you are a services provider then you need to register and get a new tax number from the local tax office. You can pay the tax through online also or you can contact your consultant to file the tax.

Find our services

Monthly maintenance of records
New registration and consulting
Report generation and regular e-filing
AMC services
Problem-solving Taxes
Preparation and filing Returns.
Cenvat credit.
Getting assessments were done

Service tax registration in Chennai, Service tax consultant Chennai, Registration charges in Chennai, Registration number
Service tax registration Chennai, Service tax consultant charges, service tax registration charges in Chennai, Returns filing at low cost, online process
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What are the type of taxes in India and there uses
Direct Taxes
Direct taxes are a basic tax for all. Who are in the circle of tax payers either by salary income of other source of income, the direct tax is applicable for all tax payers.
Income Tax
Wealth Tax
Gift Tax
Expenditure Tax
Interest Tax

Indirect Tax
Indirect taxes are collected from goods or services. If you buy a new car you need to pay the VAT value added tax for the car. This is called indirect tax.
VAT
Sales Tax
Services Tax
Custom duty & Octroi
Excise Duty
Direct Tax
Income Tax: Income taxes are collected from your income. Income tax are common for all who getting monthly salary or self business persons, proprietors, professionals, house rental income, bank rental income and other source of income.
Wealth Tax: Wealth tax is also called capital tax, equity tax or net worth tax. Wealth tax will calculate by the total value of the personal assets. It is calculated by the way of own rental income house, cash he holding on bank, fixed deposits in bank or post office under various schemes, insurance plans, saving account and pension plans.
Gift Tax: Yes you need to pay tax for the gifts what you get from your family members or friends under some criteria. As per rule the donor only responsible for the tax for his offering gift. Any fund or fund worth transfer from one person to another person which is not returnable form the receiver was considered as a gift. But some exceptions is there to pass the tax rule on gifts. Gift you getting for your marriage, gift you offer to your spouse and many more.
Expenditure Tax: This is a different type of tax you will bill on hotels and restaurant mostly. If you room rent Rs.3000 or more in a day and any food consumed by you and your members.
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NO SUBSIDY FOR LPG GAS WHO HAVE THE INCOME OF MORE THAN RS 10 LAKH FROM JANUARY 1, 2016.

Its really a shocking news for consumers who have an annual income more than 10 Lakhs will not avail of LPG subsidiary. So the consumers should purchase the cylinder under the normal market price only.
At present, there are about 16.5 crore families in India avail the LPG subsidy. 57.5 LPG consumers are surrendered the LPG subsidy by voluntarily.
Some of the comments from people
Rohit Pai: I hear that they sell food at subsidised rate in the parliament canteen!
How about first removing the subsidies which these stupid politicians enjoy?
Sanjeev Kumar Vyas: I am in favor of the view, However the Income tax payers should be incentivised for giving up the subsidy. Today the Middle class pays the taxes, but gets nothing in return, but the lower classes do no pay any direct taxes but get direct benefits and this is what makes the Middle class frustrated. Are we not incentivising the poor to remain poor and the middle class to not grow richer?
Also all the MPs who give the declarations of their assets in Crores should not get any kind of subsidy.
Benson Vb: Now says no LPG subsidy for those income over 10 lakhs/annum, after few months it will be for income 5 lakhs/annum , then 1 lakh/annum, at last no LPG subsidy for anyone one regardless of their income..every time ordinary people suffers…
Venkkat G Krishnan: Great initiative by the government…The difference between subsidised and non subsidised LPG is about Rs200.It means that consumers can save about Rs2400 per year . This is very much affordable for those people earning more than 10laks per year. The government nearly spends about 2400*16.35crore..that is about 40,000 crore..per year for the LPG subsidies.
This initiative will greatly help the government to save a bit of money.
Also note the fact that only 16crore people in our country has LPG connection. It means that about 90crore people still don’t have gas connection. This will help the government to save up the money to help the poor people to start a LPG connection.
Source: FB
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Job Info in BCC India
Job seekers are request to send your resume through our email id. admin@chennaiconsultancy.co.in
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BCC Chennai is one of the leading Chartered Accountants firm in Chennai rendering comprehensive and professional services to our valuable clients. We provide customized solutions for all your taxing and auditing issues, maintaining the accounts under the company act and more. Our the 7 years of professional experiences in the field of the company account maintenance and handle a huge number of satisfied clients. We focus on customer satisfaction, tailoring solution, cost effective services and immediate response.
We do
STATUTORY AUDIT
INTERNAL AUDIT
ACCOUNTING SYSTEMS & SERVICES
INVESTIGATION
BANK AUDIT
SPECIAL AUDIT
MANAGEMENT CONSULTANCY
PRE-AUDIT
Tag: Chartered Accountant in Chennai, Chartered Accountants firm in Chennai, Tax Auditors Chennai, leading tax agency,
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Income Tax filing through online only in the Financial Year 2016-2017

Income Tax department of India announced all the Income Tax filing here after through online only in the financial year of 2016-2017. All the
queries related to income tax also sort from email only.

This system going to implement in the financial year of 2016 - 2017. This system may help to the people who pay income tax through online. This email query system will also become a record for your future IT planning and idea.

This system will also help to avoid the problems and bribes in IT department. This system was already implemented on a trial basis in 5 cities including Chennai. It looks success in the terms of practical issues. As this trial method so far 50 lakhs consumers got benefited.
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No services tax for credit and debit card.
Indian government order to cancel all services tax for debit and credit cards for online transactions. In order to increase and motivate the online transactions, government order to release the bill.

This tax cancel system will help to increase the number of online transactions.

Apart from this government, order to do all high-level transactions through online only.

Sales tax consultant in Chennai
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From today onward 01.01.2016, if you provide a wrong information about your PAN, You will be punished for 7 years in prison.

If you buy a gold over 2 lac rupees, more than 10 lac property, paying cash more than 50 thousand for the hotel bill or even a flight ticket you should mention your PAN number.

If you don't have a PAN number instead you try to provide a wrong PAN card number along with your tax amount more than twenty-five lac will by punished.
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accounting outsourcing companies india
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Accounts outsourcing companies in Chennai
BCC is one of the leading accounts outsourcing companies in Chennai. We do various business outsourcing activities such as. Business outsourcing, accounts outsourcing, financial outsourcing and much more.

ACCOUNTING SERVICES
Books of accounts services
Books of accounts services is a hazel free services where you can appoint a 3rd party vendor to maintain your accounts related activities. Such we maintain your bills, invoices, taxes extra. We do e-filing of your sales tax, income tax and services tax on time. This will help you to cut your internal office staffing salary and peace of mind in sales tax issues and income tax issues.
With the minimum cost, you can get maximum returns. With our years of experiences, we do all kind of accounting services in a very professional manner with experienced candidates. Our staff / accountant will visit your office by frequently based on your business needs, collect all bills, invoices and other account related papers then file into the system. After the filing the documents, we send a clear report to you.
Apart from this accounting services we looking the payroll of your employees, ESI, PF related activities and issue solving also.
Our service includes prepare all the tax related documents, examine and analyze the accounting records then prepare a financial statement. Our records include expense, revenue, profits, asset liability and adjustments.
We maintaining files and documents thoroughly and accurately with highly confidential of each customer’s record. We do all process is a come under company policy and company act only.
Prepare, examine, and analyze accounting records, financial statements, Asset liability, Expense revenue and another financial Reports to assess accuracy, completeness, and conformance to Reporting and procedural standards. Maintaining files and documentation thoroughly and accurately with corporate policy and accepted accounting policy. Manage Intercompany Reconciliation of Accounts Assists in the preparation of monthly management report and accompanying schedules, worksheets and narratives, including Budget vs. Actual variance reports.
Assist with annual external audit, in preparing assigned schedules for the annual statutory and internal audit as per the GAAP.
Preparation of schedules and collection of  entire documents related to taxes are filing the quarterly, half yearly and annual statutory returns (STPI, FEMA, Secretarial Compliance, Service Tax and VAT.
Conform with and abide by all regulatory guidance and internal policies procedures. Document policies, procedures, and workflow for assigned areas of responsibility. Contribute to department and organization special projects as assigned.
Tags: Books of accounts services in Chennai, accounting freelancing services, accounting outsourcing, Accounting Outsourcing Services Company in Chennai.
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Tax saving is one of benefits way to save your money. Under the Section 80C you can save your tax.  Making some investments under Section 80C will help on the tax liabilities. Under the Section 80C you can get the maximum benefits of Rs1.5 * Lac in the financial year of 2014 – 2015.
Following investments/contributions qualify for Section 80C deductions,
Public Provident Fund (PF)
Life Insurance Premium (LIC)
National Saving Certificate (NSC Certificate)
Accrued interest on National Saving Certificate
Tuition fees paid for children’s education (maximum 2 children)
Principal component of home loan repayment
Fixed deposits with banks and Post Office
Equity Linked Savings Schemes (ELSS)
Some of the other ways you can save your taxes by the following ways
Home loan or home rent
Medical insurance policies or Mediclaim policy for family members or you self
Donation to registered trust or organizations
Restructure the salary
Tax Saving methods in India
Keep eye on your home loan monthly EMI
Home loan is one of the best ways to cut your income tax. The principal amount paid for the home loan can be used to getting a tax benefits under 80C of Income Tax Act.
Aware
Income Tax benefit only you can get from residential property not for your commercial properties.
It should be a completed project. Not on a construction project
1.5 Lacks max from your principal amount
 
Tax benefits from Mutual Funds or Equity linked saving schemes.
Very popular tax saving methods in India. You may save up to 1Lac on tax under mutual funds or ELSS scheme
 
Aware
Mutual funds are subject to market risk
 
Fixed Deposits:
Yes, you can save up to 1 Lac rupees on fixed deposit under 80C Income Tax Act. It should be 5 Years deposit an average return 8% to 9% per annum
 
Aware
The interest you will get also calculated on your income tax
 
National Saving Certificates (NSC)
You can get benefit up to Rs.1.5 lac under this scheme from 80C of income tax act. You will get more information about this NSC from your nearest post office.
 
Tax saving methods in India, Tax saving consultant in Chennai, Income tax planning, Tax saving plans and ides under 80C section, Tax saving consultants Chennai
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West 52, S Boag Rd, T Nagar, Parthasarathi Puram, T Nagar Chennai, Tamil Nadu 600017, India
West, 52, South Boag Road, Parthasarathi PuramINTamil NaduChennai600017
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Admin NewIndiaHosting
a year ago
I m struggling on taxing issue. This ppl offer a systematic solution for tax and managing perfect.
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Shiv Avis
a year ago
Good services