Advantages of GST to Citizens: (i) Simpler tax system (ii) Reduction in prices of goods and services due to elimination of cascading (iii) Uniform prices throughout the country (iv) Transparency in taxation system (v) Increase in employment opportunities Advantages of GST to Trade/Industry: (i) Reduction in multiplicity of taxes (ii) Mitigation of cascading/double taxation (iii) […]
Huge cash deposits in Specified Bank Notes (SBNs) were made during demonetization period in various newly opened Benami Accounts in Bank of Maharashtra and money was rotated between said accounts as well as to other entities and finally transferred to another account through RTGS
Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies.
We found two Notification on CBEC website of Same Number i.e. Notification No. Notification No. 13/2017-Service Tax. Both are dated differently and are related to different subject. While one is dated as 12th April, 2017 and other one is dated 13th April, 2017.
1. Information to be furnished prior to commencement of movement of goods and generation of e-way bill (1) Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees —(i) in relation to a supply; or (ii) for reasons other than supply; or
Reverse charge under GST is applicable on the followings: 1. Unregistered dealer supply taxable goods or services or both to a registered dealer: the registered dealer has to pay GST on the supply of taxable goods or services or both.
Milind Kamble India is celebrating the 126th birth anniversary of Babasaheb Bhim Rao Ambedkar on a grand scale and magnitude. Dr. Ambedkar’s emphasis on modernization as a weapon to deal with social injustice was visionary. He had a vision for society where urbanization and industrialization would coexist with an equitable social order. An industrial civilization […]
Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application in FORM GST ASMT-01, along with the documents in support of his request, electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.
ITR 3 Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession. This Return Form can be filed with the Income Tax Department in any of the following ways, -(i) by furnishing the return electronically under digital signature; (ii) by transmitting the data in the return electronically under electronic verification code; (iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V.
ITR 6 Form for A.Y. 2017-18 can be used by a company, other than a company claiming exemption under section 11. This Form has to be compulsorily furnished electronically under digital signature to the Income Tax Department.
