"25 January 2019" Archive

Inspection, Search, Seizure and Arrest under GST: FAQs

‘Inspection’ is a new provision under the CGST/SGST Act. It is a softer provision than search to enable officers to access any place of business of a taxable person and also any place of business of a person engaged in transporting goods or who is an owner or an operator of a warehouse or godown....

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Appeals, Review and Revision in GST: FAQs

What is the time limit within which appeals should be filed against any order under GST? For an Appeal by the aggrieved person - Appeal to the prescribed Appellate Authority has to be made within three months from the date on which the said decision or order is communicated to such person....

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Demands & Recovery under GST: FAQs

Which are the applicable sections for the purpose of recovery of GST short paid or not paid or amount erroneously refunded or input tax credit wrongly availed or utilized? Section 73 deals with the cases where there is no invocation of fraud/suppression/mis-statement etc. Section 74 deals with cases where the provisions related to fraud/s...

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Refunds under Goods and Service Tax (GST)- FAQs

Q.1 What are the situations which may give rise to refund under GST? Ans. A claim for refund may arise on account of- 1. Export of Goods or services on payment of tax 2. Supply of goods or services to SEZs units and developers on payment of tax 3. Export of Goods or services under Bond/Letter of Undertaking, without payment of tax...

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Make compliance simpler for honest tax payers: Piyush Goyal

Shri Piyush Goyal stresses on the simplification, transparency and use of latest technology in further smoothening the tax filing process for the stakeholders; Calls for making the compliance simpler for the honest tax payers and make best use of the money so collected through taxes for the benefit and welfare of the public at large...

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Compendium of Clarifications on Ind AS Implementation

The implementation of Indian Accounting Standards (Ind AS) converged with International Financial Reporting Standards (IFRS) by Indian Companies is a monumental step in the accounting history of India. ICAI is committed to play an important role to ensure effective and smooth implementation of IFRS converged Ind AS in India. For this purp...

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TDS under GST- Registration, Rate, Limit, Certificate, Payment due date

Article explains concept of TDS under GST, Who is liable to deduct tax at source under GST, Rate of TDS under GST and value limit, Registration of TDS deductors under GST, Due date of deposit of TDS under GST with the government and TDS Return & Certificate under GST. 1. Introduction to TDS under GST: […]...

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CBDT rescinds Notification No. 15/2008 Dated 1/2/2008 wef 01.04.2011

Notification No. 03/2019-Income Tax (25/01/2019)

Central Government hereby rescinds the notification of the Government of India, Ministry of Finance, Department of Revenue number 15/2008 dated 01.02.2008 published in the Gazette of India, Part II, Section 3, Sub-Section (ii) dated of 02.02.2008 vide S.O. 200 with effect from 01.04.2011 and it shall be deemed from 01.04.2011 that the sai...

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38 Common Mistakes in GST Compliance & Precautions for GST Audit

I have identified certain common mistakes in GST compliance, few of them are summarized below. The intention is to highlight common mistakes and precautions to be taken for GST audit so that efforts can be taken to solve / rectify them before starting GST audit and save cost of interest and penalty....

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UDIN mandatory wef 1st Feb. 2019 for all CA Certificates

Full time Practicing CAs can register themselves by visiting at https://udin.icai.org/ and generate UDIN by registering the certificates attested/certified by them....

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