Sonu Tiwari

TCS rates have been simplified in Budget 2026–27 — but not for everyone.
Some transactions get costlier, some get relief, and some stay untouched. 👇

Key TCS changes you must know ⬇️

✔️ Sale of alcohol → TCS increased from 1% to 2%
✔️ Sale of tendu leaves → TCS reduced from 5% to 2%
✔️ Sale of scrap → TCS increased from 1% to 2%
✔️ Sale of coal, lignite & iron ore → TCS increased from 1% to 2%

💰 Foreign remittance under LRS
✔️ For education & medical treatment → TCS reduced from 5% to 2%
✔️ For other purposes → 20% TCS continues (no relief)

✈️ Overseas tour packages
✔️ Earlier 5% / 20% TCS
✔️ Now flat 2% TCS → major relief for travellers

📌 Why this matters:
These changes reduce cash flow blockage, simplify TCS compliance, and impact buyers, travellers, exporters, and businesses directly.

👉 Save this post for quick reference
👉 Share with anyone dealing in scrap, minerals, or foreign remittances
👉 Comment “TCS” if you want a PDF summary

3 weeks ago | [YT] | 2

Sonu Tiwari

https://youtu.be/P1jmhfe_fVI?si=DU3Hb...

3 weeks ago | [YT] | 0

Sonu Tiwari

New staggered deadlines for Tax Returns are here! 🗓️

• Individuals (ITR-1 & ITR-2): July 31
• Non-audit Businesses & Trusts: August 31

#Budget2026

3 weeks ago | [YT] | 2

Sonu Tiwari

https://youtu.be/1lU3PqZhNMM?si=2mnwG...
📌Input Tax Credit (ITC): Eligibility & Blocked Credits
Input Tax Credit (ITC) allows businesses to reduce the tax they have already paid on inputs from the tax they collect on outputs. However, specific conditions must be met to claim it.

✅ *Criteria for Eligible Invoices*
To claim ITC, the following conditions must be satisfied:

Business Intent: The goods or services must be used strictly for business purposes.

Nature of Supply: The inputs must be used for making taxable supplies or exports.

Valid Documentation: You must possess a valid tax invoice issued by a registered supplier.

Operational Inputs: GST paid on raw materials, packaging materials, and job work charges is eligible.

Capital Goods: ITC can be claimed on capital goods (machinery, equipment), provided they are used for business operations.

❌ *Blocked Credits (Section 17(5))*
Even if you have a valid invoice, ITC is not available for the following (as per Section 17(5) of the CGST Act):

Motor Vehicles: ITC is generally blocked on passenger vehicles (unless used for transportation of goods or specific services like driving schools).

Personal Memberships: Fees paid for Clubs, Health, and Fitness centers (Gyms).

Personal Consumption: Expenses related to food and beverages, outdoor catering, and hotel stays for personal use.

Inventory Losses: ITC cannot be claimed on goods that have been lost, stolen, destroyed, written off, or given away as free samples/gifts.

Immovable Property: GST paid on goods or services received for the construction of immovable property (like buildings), except for plant and machinery.

*Key Reminder*
Note: To ensure the ITC is reflected in your electronic credit ledger, your supplier must also file their GST returns (GSTR-1) so the data appears in your GSTR-2B.

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3 weeks ago | [YT] | 3

Sonu Tiwari

📢 Income-tax Act, 2025 – Key TDS Changes (w.e.f. 1 April 2026)

The new Act simplifies the TDS structure by consolidating multiple sections into a few broad ones:

➡️ Section 392 – TDS on Salary
➡️ Section 393 – TDS on all other payments (interest, fees, rent, etc.), replacing sections like 194A, 194J, 194I
➡️ Section 394 – All TCS provisions consolidated

Objective: Simplification, reduced disputes & easier compliance for taxpayers and Tax Professionals.

1 month ago | [YT] | 1

Sonu Tiwari

🛑 *1 फरवरी से बीड़ी-सिगरेट पीना होगा महंगा, सरकार ने तंबाकू उत्पादों पर GST की अधिसूचना की जारी*

▶️ सरकार ने स्वास्थ्य सुरक्षा से राष्ट्रीय सुरक्षा उपकर अधिनियम, 2025 को आगामी 01 फरवरी से लागू करने और तंबाकू उत्पादों पर वस्तु एवं सेवा कर (GST) की नई दरें तय करने संबंधी अधिसूचनाएं जारी कर दी हैं।
▶️ ये अधिसूचनाएं बुधवार देर रात जारी की गईं। संसद के शीतकालीन सत्र में उपकर से संबंधित विधेयक पारित किया गया था।
▶️ अधिनियम में सामान बनाने या बनाने के लिए लगाई गई मशीनरी या की जाने वाली प्रक्रिया पर उपकर लगाने का प्रस्ताव है।
▶️ इस उपकर से होने वाली कमाई केंद्र के समेकित कोष (कंसोलिडेटेड फंड) में जाएगी और सरकार को राष्ट्रीय सुरक्षा तथा सार्वजनिक स्वास्थ्य से जुड़े खर्चों को पूरा करने में मदद करेगी।
▶️ शुरुआत में इसे पान मसाले पर लागू किया गया है हालांकि अगर जरूरी हुआ तो सरकार दूसरे सामानों पर भी उपकर लगाने के लिए अधिसूचित कर सकती है। वित्त मंत्रालय इससे संबंधित नियम के लिए भी अधिसूचना जारी की है।
▶️ एक अन्य अधिसूचना के अनुसार, 01 फरवरी से बीड़ी पर 18 प्रतिशत जीएसटी लगाया जाएगा।
▶️ पान मसाला, गैर-विनिर्मित तंबाकू और उसके अपशिष्ट, तंबाकू या तंबाकू के विकल्प से बनी सिगरेट, चेरूट, सिगारिलो और सिगार, अन्य विनिर्मित तंबाकू और तंबाकू के विकल्प, बिना दहन के उपभोग के लिए बने तंबाकू उत्पाद, और तंबाकू तथा निकोटीन के विकल्प से बने बिना दहन के उपभोग के लिए बने तंबाकू उत्पादों पर 40 प्रतिशत जीएसटी लगेगा।
▶️ जीएसटी परिषद की अनुशंसा पर नई दरों के लिए अधिसूचना जारी की गई है।

1 month ago | [YT] | 1

Sonu Tiwari

Hi everyone, welcome to my new YouTube Community! Now you can post on my channel, too. To get started, tell me in a post what you'd like to see next on my channel.
Visit my Community: youtube.com/@CASONUTiwari/community

2 months ago | [YT] | 1

Sonu Tiwari

Beginners for easy to way golden rules for this charts just like three types of rules of accounting personal/Real/Nominal

2 months ago | [YT] | 2

Sonu Tiwari

ITC BLOCKED CARS FOR OFFICIAL USE UNDER GST

2 months ago | [YT] | 1

Sonu Tiwari

New income tax rules 2025 u should know

2 months ago | [YT] | 1