In case of non-furnishing of return under Sec. 39 or Sec. 44 or Sec. 45 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”). It has further been brought to the notice that divergent practices are being followed in case of non-furnishing of the said returns. In order to clarify …
1. GST Press Release Dated 14th November,2019 : Due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 extended to 31 st December 2019. 2.Due dates of filing of kind GSTR-9 (Annual Return) and kind GSTR-9C (Reconciliation Statement) for year 2018-19 to extended thirty one st March …
Litigation support services include comprehensive, customizable consultation projects taken on by businesses specializing writing and also the development of personalised electronic databases. Typically, these projects are performed for a business firm or legal skilled, however designing for litigations is important for all firms. Services provided through litigation support partners will include something from document scanning …
Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then …
Government had increase threshold limit of Turnover for Composition levy from Rs.1 Cr to 1.5 Cr wide notification no.‐14/2019‐Central Tax dated 7th March, 2019. This notification will come into effect from 1st April, 2019.Now, any person having turnover up to Rs. 1.5 Cr. Can opt for paying GST under composition Scheme. Let us discuss provisions …
A registered Taxpayer can apply for transfer of Matched Input tax credit that is available in the Electronic credit ledger of taxpayer to another business/another registered taxpayer in case of transfer of business by way of merger/demerger/sale of business by filling of ITC declaration in FORM GST ITC‐02. But some doubts had been raised about …
Angel Tax refers to a money pool created by high net worth individuals or companies, generally called as angel investors, for investing in business startups. Various startups founder claimed that they received notice under section 56(2) (vii) (b) of Income Tax Act (“Act”) from Income Tax Department (“Department”) to pay taxes on angel funds raised …
With Notification No. 02/2019 – Central Tax dated 29th January,2019 ,CGST(Amendment) Act,2018 shall be applicable with effect from 1st February,2019.Actually this Act of Parliament received assent of the President on 29th August,2018 , but its applicability date appointed is 1st February,2019 with Notification No. 02/2019 – Central Tax dated 29th January,2019. These amendments are the …
Here is the good news for return filers under GST!!!Now, GST portal would allow amendments in B2B Invoices relating to Financial Year-17-18.GST portal has beenupdated already to allow updation in B2B invoices of FY-17-18.Those who were earlier worried about the wrong filling of GSTR-1 relating to FY-17-18 would now be relieved as they aregetting a …
What is the Annual return? Consolidation of information furnished in the forms GSTR 1 , GSTR 2 , GSTR 3 & GSTR 3B Details of Outward Supplies made and Inward Supplies received , categorized into different tax heads: IGST CGST SGST Types of GSTR 9 Forms There are 4 types of Annual Returns under GST: …