Statement of financial transaction in respect of specified transactions registered or recorded in the Financial Year 2016-17 is to be filed on or before 31st May, 2017.
As per Section 31(1) of CGST Act 2017, a registered person supplying taxable goods shall, before or at the time of,— (a) Removal of goods for supply to the recipient, where the supply involves movement of goods; or(b) Delivery of goods or making available thereof to the recipient, in any other case, issue a tax invoice showing the description, quantity and value of goods, the tax charged thereon and such other particulars as prescribed in Revised Invoice Rules, 2017.
“SUPPLY” This word has become the foundation stone for all the future financial transactions in India. All the beams, pillars, walls, rather the complete structure of the indirect taxation in India have been built on and around this one word. Under the proposed GST regime, any transaction which is not a supply cannot be taxed and a transaction may be taxed under GST only if it is a supply.
Shri Bandaru Dattatreya launches EPFO’s Citizens’ Charter 2017 & e-court management system Citizens’ Charter 2017 to bring transparency and accountability on the part of EPFO The Minister of State for Labour & Employment(IC), Shri Bandaru Dattatreya launched EPFO’s Citizens’ Charter 2017 and e-court management system in Bangalore, today. Citizens’ Charter 2017 is an attempt to […]
The Union Minister of Finance, Shri Arun Jaitley, launches Operation Clean Portal; Will enable citizen engagement for creating a tax compliant society and transparent tax administration
Late Fee payable by any VAT dealer in Maharashtra, who files returns for the periods of any month or quarter for FY 2016- 17 shall stand exempted, if such returns are filed (uploaded and submitted) on or before 15th June 2017.
