FAQs

All about GSTR-3 Consolidated return with FAQs

Goods and Services Tax - GSTR-3 is a consolidated return filed by the taxpayer based on GSTR-1 and GSTR-2. GSTR-3 provides the details of tax liability for a given tax period and details of tax paid. GSTR-3 provides details of gross turnover, export turnover, exempted domestic turnover, Nil rated turnover, Non GST turnover and Net taxable turnover....

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All about Electronic Cash Ledger under GST regime with FAQs

Goods and Services Tax - The Electronic Cash Ledger contains a summary of all the payments made by a taxpayer. In the ledger, information is displayed major head-wise i.e., IGST, CGST, SGST, and CESS. Each major head is further divided into five minor heads: Tax, Interest, Penalty, Fee, and Others. It can be accessed under in the post-login mode on the GST portal...

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All about GSTR 2 return (Statement of Inward Supplies) with FAQs

Goods and Services Tax - Receiver taxpayers are required to file GSTR 2 return (Statement of Inward Supplies) on a monthly basis in which they can accept, modify, reject, or keep pending the invoice level outward supplies information furnished by the supplier taxpayer in the GSTR 1 to prepare the details of inward supplies and credit or debit notes....

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GSTR 2A: What you must know with FAQs

Goods and Services Tax - 1. What is GSTR 2A? GSTR 2A is a system generated ‘draft’ Statement of Inward Supplies for a Receiver Taxpayer. It is auto populated from the GSTR 1/5 of all the Supplier Taxpayers from whom goods and/or services have been procured in a given tax period. It is generated when the first supplier taxpayer files […]...

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All about GST Invoice Upload Offline Utility

Goods and Services Tax - Invoice Upload Offline Utility 1. How can I download and install the GST Offline Utility tool on my system from the GST Portal? 1. Login to the beta testing Portal https://www.prod.gst.gov.in and download Offline Utility. 2. Go to Downloads > Offline Utilities > Returns Offline Utility > Download button. 3. Unzip the downloaded Z...

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GST FAQs in Hindi, Gujarati, Malayalam, Punjabi, Telugu, Kannada, Assamese, Bangla

Goods and Services Tax - CBEC released FAQ on GST in English, Hindi, Assamese, Gujarati, Malayalam, Punjabi Telugu and Kannada for the benefit of General Public...

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Why you must have active Debit Card – FAQs

Goods and Services Tax - Debit Card makes your payments much more convenient and secure through an electronic payment facility directly from your bank account. Debit card can be used for purchases online or at shops by directly debiting your Bank account. Debit cards can also be used to withdraw cash from an ATM....

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FAQs on Responding to Tenders by Chartered Accountants

Goods and Services Tax - Whether a member of the Institute in practice can accept such assignment where advertisement of tender was issued prior to 7th April, 2016? The notification is effective for all tenders issued/hosted on or after 7th April, 2016. Therefore, a member of the Institute in practice can accept such assignment where advertisement of tender was i...

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All about Panama Papers with OECD Statement & FAQs

Goods and Services Tax - The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies. The documents show how wealthy public official...

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ICAI hosts Admit Cards for November 2015 Exams + FAQs

Goods and Services Tax - Admit cards-  6th October 2015 Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final November 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloading/printing of the admit cards, candidates wil...

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16 FAQS on implementation of GAAR provisions

Circular No. 7/2017-Income Tax - (27/01/2017) - Question no. 1: Will GAAR be invoked if SAAR applies? Answer: It is internationally accepted that specific anti avoidance provisions may not address all situations of abuse and there is need for general anti-abuse provisions in the domestic legislation. The provisions of GAAR and SAAR can coexist an...

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2nd FAQs on Direct Tax Dispute Resolution Scheme, 2016

Circular No. 42 of 2016 - (23/12/2016) - Further queries have been received from the field authorities and other stakeholders on Direct Tax Dispute Resolution Scheme, 2016. The Central Government has considered the queries and decided to clarify the same in the form of questions and answers as follows.-...

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46 FAQs on service tax on cross border B2C OIDAR online services

Circular No. 202/12/2016-Service Tax - (09/11/2016) - From 1st December 2016 service tax would be chargeable on online information and database access or retrieval [OIDAR] services provided by any person located in non-taxable territory...

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MVAT: FAQ's on Settlement of Arrears in Disputes Act, 2016

Trade Circular No. 19T of 2016 - (30/06/2016) - 8th floor, Vikrikar Bhavan, Mazgaon, Mumbai-400010. TRADE CIRCULAR To, No. VAT/MMB-2015/47/2016-17/ADM-8   dated 30th June 2016. Trade Cir. No. 19T of 2016 Subject:  FAQ’s on Settlement of Arrears in Disputes Act, 2016. Ref.  (1) The Maharashtra Settlement of Arrears in Disputes Act, 2016....

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7 things to know about TCS on sale of a motor vehicle

Circular No. 22/2016-Income Tax - (08/06/2016) - With a view to bring high value transactions within the tax net, it has been provided in sub- section (1 F) of section 206C of the Act that the seller who receives consideration for sale of a motor vehicle exceeding ten lakh rupees, shall collect one per cent of the sale consideration as tax from th...

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Recent Posts in "FAQs"

All about GSTR-3 Consolidated return with FAQs

GSTR-3 is a consolidated return filed by the taxpayer based on GSTR-1 and GSTR-2. GSTR-3 provides the details of tax liability for a given tax period and details of tax paid. GSTR-3 provides details of gross turnover, export turnover, exempted domestic turnover, Nil rated turnover, Non GST turnover and Net taxable turnover....

Read More

All about Electronic Cash Ledger under GST regime with FAQs

The Electronic Cash Ledger contains a summary of all the payments made by a taxpayer. In the ledger, information is displayed major head-wise i.e., IGST, CGST, SGST, and CESS. Each major head is further divided into five minor heads: Tax, Interest, Penalty, Fee, and Others. It can be accessed under in the post-login mode on the GST portal...

Read More

All about GSTR 2 return (Statement of Inward Supplies) with FAQs

Receiver taxpayers are required to file GSTR 2 return (Statement of Inward Supplies) on a monthly basis in which they can accept, modify, reject, or keep pending the invoice level outward supplies information furnished by the supplier taxpayer in the GSTR 1 to prepare the details of inward supplies and credit or debit notes....

Read More

GSTR 2A: What you must know with FAQs

1. What is GSTR 2A? GSTR 2A is a system generated ‘draft’ Statement of Inward Supplies for a Receiver Taxpayer. It is auto populated from the GSTR 1/5 of all the Supplier Taxpayers from whom goods and/or services have been procured in a given tax period. It is generated when the first supplier taxpayer files […]...

Read More

All about GST Invoice Upload Offline Utility

Invoice Upload Offline Utility 1. How can I download and install the GST Offline Utility tool on my system from the GST Portal? 1. Login to the beta testing Portal https://www.prod.gst.gov.in and download Offline Utility. 2. Go to Downloads > Offline Utilities > Returns Offline Utility > Download button. 3. Unzip the downloaded Z...

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All about GSTR 1- Monthly Statement of Outward Supplies with FAQs

GSTR 1 is a monthly Statement of Outward Supplies all normal registered taxpayers to be filed in a given tax period in which they shall furnish details of all a. Outward supplies to registered persons b. Outward supplies to unregistered persons (consumers) c. Details of Credit/Debit Notes issued against invoices d. Zero rated, exempted, a...

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How to make payment GST regime and how to track status

Payments: Overview 1. How do the new payment systems benefit the taxpayer and the Commercial Tax Department? No more queues and waiting for making payments as payments can be made online 24 X 7 Instant online receipts for payments made online Tax Consultants can make payments on behalf of the clients. Single Challan form to […]...

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GST: FAQs on Login & DSC, Register / Update DSC

Login & DSC: Overview 1. Do I need to register my DSC before I can use it on the GST Portal to digitally sign any documents? Yes, you must register your DSC before you can digitally sign any document on the GST Portal. 2. Is it mandatory for me to use DSC or can I […]...

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FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes (20.04.2017)

FAQs on Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of Rs. 500 and Rs. 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016...

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Frequently Asked Questions on Insolvency and Bankruptcy Code 2016

The Insolvency and Bankruptcy Code, 2016 was enacted with a purpose to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals and align Indian law at par with the best practices being followed Internationally....

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