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Archive: 18 July 2018

Posts in 18 July 2018

Nil GSTR-3B Return- How to File

July 18, 2018 12252 Views 0 comment Print

How can I file “Nil” GSTR-3B return? ‘Nil’ return may be filed by you for a particular tax period, if you have not made any outward supply (commonly known as sale) and have NOT received any inward supply (commonly known as purchase) of any goods/ services and do not have any tax liability for that […]

How to Track GST Return Status – FAQs and Manual

July 18, 2018 6465 Views 1 comment Print

FAQs > Track GST Return Status Q 1. Can I track the status of my Return Application? Ans: Yes, you can track the status by using the Services > Returns> Track Return Status service from the GST Portal. Q 2. What are different Return application status types? Ans: 1. TO BE FILED : Return due but not […]

How to View e-filed GST Returns – FAQs and Manual

July 18, 2018 13419 Views 1 comment Print

FAQs > View e-filed GST Returns Q 1. Can I view or download my previously e-filed GST returns? Ans: Yes, you can view and download your e-filed returns by using the Services > Returns> View e-Files Returns service from the GST Portal. However, for certain returns like GSTR1 and GSTR2, only summary report of the return will […]

Key suggestions on 19 Proposed Amendments in GST Law

July 18, 2018 16362 Views 6 comments Print

To iron out the practical hindrances and issues being faced by the Industry Inc since the implementation of GST, the GST Council on July 9, 2018 had unveiled the draft of 46 proposed changes in GST law as a major step towards facilitating trade and ease of doing business.

Excise Duty cannot be levied on Payments based on post-sales performance

July 18, 2018 639 Views 0 comment Print

M/s. Sail Refractory Co. Ltd. Vs Commissioner of GST & Central Excise (CESTAT Chennai) Bonus and penalty are post-sales provisions, therefore excise duty cannot be levied on such payments which are based on performance post-sales / clearance of the goods. Above issue is covered by the judgment in the case of Vishwakarma Refractories Pvt. Ltd. Vs. […]

Form GST TRAN-1 Filing Issue- Appoint Nodal Officer/Officers- HC

July 18, 2018 1275 Views 0 comment Print

Pothys Vs. Principal Chief Commissioner (Madras High Court) i. The respective Commissioner of GST and Central excise are directed to appoint Nodal Officer/Officers for the State of Tamil Nadu, if not already appointed, within a period of 2 weeks from the date of receipt of a copy of this order and ii. The petitioners/assessees are […]

National Pension scheme: Additional Deduction of Rs. 50,000

July 18, 2018 288141 Views 86 comments Print

An employee can claim overall deduction of Rs. 2,00,000 (i.e. Rs. 1,50,000 u/s 80C/80CCC/80CCD(1) and Rs. 50,000 u/s 80 80CCD(1B)) for National Pension scheme

Income Tax Benefits from House Property and Loan

July 18, 2018 506766 Views 72 comments Print

Section 80C for Investment in Residential House Property and for payment of Principal amount – The Equated Monthly Installment (EMI) that you pay every month to repay your home loan consists of two components – Principal and Interest. The principal component of the EMI qualifies for deduction under Sec 80C.

Download House Rent Allowance (HRA) Calculator

July 18, 2018 408965 Views 45 comments Print

This Calculator calculates House Rent Allowance which is exempt from tax U/s. 10(13) of The Income Tax Act, 1961. The calculator is in excel format and it calculates the allowance which will be exempt from tax automatically.

3 Ways to View Tax Credit (Form 26AS)

July 18, 2018 205897 Views 118 comments Print

You can now view your Form 26AS (Taxes paid) at ITR e-Filing website, without any additional login. To view the tax statement, Assessees can now login in to with their login, and click on ‘My Accounts’ -> ‘View Tax Credit Statement (Form 26AS)’. Here, you should select the ‘assessment year’, confirm your ‘date of birth’ and proceed. It will open the same NSDL website page of PAN ledger account.

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