View Submitted or Saved Application for Refund How can I view my submitted or saved application for refund on the GST Portal? 1. To view your submitted application, navigate to Services > Refunds > My Saved/Submitted Application command.
How can I submit the application for refund of excess balance in Electronic Cash Ledger on the GST Portal? To submit the application for refund of excess balance in Electronic Cash Ledger on the GST Portal, perform the following steps:
REFUND MECHANISM UNDER GST- The Committee notes that refunds has started to trickle only from the month of November, 2017 and the intervening period of four months from July to October, 2017 has been extremely trying for the exporters. The significant time lag in providing refunds has supposedly eroded the competitiveness of exporters by around 1.2 per cent to 2 per cent. It is felt that if the stuck up capital reaches a figure of 2025 per cent of the working capital then it will result in a steep downward spiral of our exports. (Para 2.8)
During FY 2015-16, the ITD had completed 2.57 lakh scrutiny assessments in the units audited as per the audit plan of FY 2016-17, out of which we checked 2.39 lakh cases. Apart from this, we have also audited 0.30 lakh cases completed in the earlier financial years, during FY 2016-17.
Section 16 of CAG’s (DPC) Act, 1971 mandates CAG to audit receipts payable into the Consolidated Fund of India and to satisfy that the rules and procedures are designed to secure an effective check on the assessment
a) Is Minister or his office a ‘public authority’ under the RTI Act? b) Whether a citizen has right to information sought, and does the minister has corresponding obligation to give?
As per Section 199(3) of Income Tax Act, 1961 read with Rule 37BA(3)(i) and (ii) of Income Tax Rules, 1962 TDS can be granted only in the year in which the income/receipt on which such tax deducted at source is asses sable to tax.
The Income Tax Appellate Tribunal in its recent order ruled that firm cannot claim refund under the income Tax Act when TDS certificate is issued in the name of the partner of the Firm.
Since assessee had not been served with any intimation or any other communication regarding the grant of interest under section 244A for assessment year 2009-10 and refund in question had been directly credited by department to bank account, the amount of interest had been provided in financial year 2015-16 on receiving of information from AO, therefore, addition being interest under section 244A could not be made by the AO.
The Suvikas Peoples’ Co-op. Bank Ltd. Vs. ACIT (ITAT Ahemdabad) Essence the RBI Directions, 1998 are prudential/ provisioning norms issued by RBI under Chapter IlI-B of the RBI Act, 1934. These norms deal essentially with income recognition. They force the NBFCs to disclose the amount of NPA in their financial accounts. They force the NBFCs […]
