"02 November 2018" Archive

Companies to comply with Trade Receivables Discounting System platform

S.O. 5621(E) (02/11/2018)

Central Government instruct companies with a turnover of more than Rs. 500 crore and all Central Public Sector Enterprises to get themselves onboarded on Trade Receivables Discounting System platform...

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Half Yearly Reporting of payment to MSMEs after 45 days

S.O. 5622(E) (02/11/2018)

Central Government hereby directs that all companies who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty five days from the date of acceptance or the date of deemed acceptance of the goods or services as per the provisions of the Act, shall submit a...

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Synopsis on Sarfaesi Act Vs Insolvency and Bankruptcy code, 2016

Introduction Introduction of INSOLVENCY AND BANKRUPTCY CODE, 2016 has done away with overlapping provisions contained in The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, (SARFAESI ACT) 2002. Let’s distinguish between both Acts. SARFAESI Act The Securitisation and Reconstruction of Fina...

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Posted Under: Corporate Law |

GST RFD-01A- Filing of Refund Application on Account of Assessment/Provisional assessment/ Appeal/ Any Other Order

The GSTN has introduced the new RFD-01A form for Filing of Refund Application on Account of Assessment/Provisional assessment/ Appeal/ Any Other Order. In these article we will see the detailed analysis related to the Refund form, Rules and how to file the refund form online....

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Posted Under: Corporate Law |

Applicability of TCS under GST & it’s impact on E-commerce

The TCS & TDS provisions which were deferred has become applicable w.e.f from 01st October 2018. Hence the notified persons would be required to deduct TDS & collect TCS on transaction under GST....

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Posted Under: Corporate Law |

GST Refund on Account of Export of Services (With Payment of Tax)

A. FAQs on Refund on Account of Export of Services (With Payment of Tax) Q.1 What are the preconditions for filing a refund application on account of Export of Services (with payment of tax)? Ans: The following conditions must be met for being eligible to file form RFD-01A to claim refund on account of Export of […]...

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Posted Under: Corporate Law |

GST Refund on Tax paid on an Intra-State Supply which is subsequently held to be Inter-State Supply & Vice Versa

FAQs on Refund on Tax paid on an Intra-State Supply which is subsequently held to be Inter-State Supply and Vice Versa. When refund application can be filed using reason as Refund on tax paid on an Intra state supply which is subsequently held to be inter-state supply and vica versa...

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Posted Under: Corporate Law |

GST refund claim by Supplier of Deemed Exports- Procedure & FAQs

A. FAQs on Refund on account of Supplier of Deemed Export Q.1 When refund application by Supplier of Deemed Exports can be filed? Ans: If the supplier of deemed exports has not collected tax from the recipient of deemed exports and paid the tax amount to the government, then the supplier of deemed exports would be […]...

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Posted Under: Corporate Law |

How to claim Refund of Excess Payment of GST with FAQs

A. FAQs on Refund on Account of Excess Payment of Tax Q. 1. When refund application on account of excess payment of tax can be filed? Ans: Refund application on account of excess payment of tax can be filed, when the taxpayer has paid excess tax (in the form of advance tax or tax deducted/collected […]...

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Posted Under: Corporate Law |

How to claim GST Refund if no specific refund application available in refunds section

Article explains When the refund application on account of Any Other ground of reason can be filed? What are the relied upon documents which I have to upload with refund application on account of excess payment of tax? To whom should I file my application with?...

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Posted Under: Corporate Law |