Alarmed by reports that credit card companies have collected over Rs 6,000 crore (Rs 60 billion) in a decade from customers by way of fines and late fee, India's anti- monopoly watchdog has ordered a probe into the fees levied by them.
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If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.
Credit card holders in India, who pay the highest rates of interest in the world, have been ripped of Rs 6,000 crore (Rs 60 billion) as "extra charges" by banks in a span of ten years, according to a rights group.
The GST rate on mobile phones will be hiked to 18 per cent while that on maintenance repair overhaul (MRO) services for aircraft will be lowered to 5 per cent with effect from April 1, Finance Minister Nirmala Sitharaman said on Saturday. The GST rate on handmade and machine-made matchsticks has been rationalised to 12 per cent from 5 per cent and 18 per cent respectively.
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Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
Some 1,100 years ago, Uthiramerur had an election system similar to what India has today.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
GST seeks to subsume many indirect taxes at the Central and state levels.
A two-day strike by wholesalers and retailers across Maharastra to protest against the imposition of Local Body Tax (LBT) began on Monday, bringing trading activity to a grinding halt.
Credit cards are not inherently bad. If used responsibly, they can be a saviour in times of need.
As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
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If used without much care credit cards can become debt traps. But there are ways to use them to your advantage, says Rajiv Raj
When opting for any loan, make sure you read the terms and conditions carefully, and understand the 'other charges' to avoid any disappointment at a later stage.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
There is no such thing as 'free' credit cards. Most of the charges associated with your card are not even told upfront to you. Knowing about these various fees and charges will put you in good stead and help you use your card prudently.