In India we express our love and affection through gifts. There are various occasions for gift giving in our society like Rakshabandhan, Diwali, marriages, birthdays and the list goes on. But the government is keeping a close eye on such gifts as they may be misused by tax payers to escape taxes on their income by simply transferring their income to relatives and through other routes.
This comes after the regular pressure from the Govt to streamline the entities and force them mentally to think that compliances are not optional in nature and thin line to observe here is: you cannot be allowed to run businesses if you are taking annual compliances for granted.
It is without question that the Goods and Services Tax is a standout amongst the most remarkable changes in Indias economy since her independence. The historic aberrant assessment change has to be sure changed the lives of a huge number of brokers, shippers and sprouting business people by the cancellation of unnecessary expense liabilities and disentanglement of the tax collection system.
We are pleased to enclose the GST Audit Report (Form 9C) and Statement of Particulars (Form GSTR 9D) to be furnished alongwith the Report. These forms have been drafted keep in in mind the aspects of being simple, transparent, easy to comply, to bring awareness among the tax payers and at the same time protect the revenue for the Government.
ICAI has requested Government to host all the advance ruling judgement at one website either at CBIC or GST Council. ICAI is Apex Body of Chartered Accountants in India. The Authority for Advance Ruling constituted under the GST Laws, have been delivering its judgement regularly on the various cases before it. Presently, there is no […]
