Tax Consultant

  Interest under GST Act, 2017 Interest liability on delayed on payment of tax or excess utilization of ITC under goods and services tax act 2017 governed through Sec 50 of the CGST Act, 2017 & Rule 88B of the CGST Rules, 2017. Section 50 :-   interest on delayed payment of tax. — (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent., as may be notified by the Government on the recommendations of the Council: [Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisions of section 39, except where such return is furnished after...

  PROFESSION TAX ACT, 1975 — MAHARASHTRA I. PURPOSE AND SCOPE The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Profession Tax Act) applies to whole of State of Maharashtra and has come into operation from 1-4-1975. The Tax is levied and collected subject to the provisions of Article 276 of the Constitution of India for the benefit of the State.  II.   LEVY OF TAX-ENROLLED PERSONS [PTEC] Every Person including LLP registered under the LLP Act, 2008, excluding Partnership Firm whether registered or not under Indian Partnership Act, 1932 and HUF, engaged actively or otherwise in any profession, trade, calling or employment and covered by Schedule I appended to the Profession Tax Act, 1975 (given separately herein below) is liable to pay Tax at the rate mentioned against each entry in Schedule I. The Tax payable by one person will not exceed Rs.2,500/- for one year. In the case of person liable to enroll but remained un-enrolled, the liabi...