When a Tax Official will conduct Scrutiny of GST Returns? In case, any discrepancy is found in return furnished by registered person on the basis of risk parameters or suo-moto on his own motion, then Tax Official can issue a notice informing that person of such discrepancies noticed and seek clarification from that person.
What is provisional assessment under GST Law? If taxpayer is unable to determine either the value or tax rate or both for the goods/ services dealt in by him/her, then he/ she can file an application for provisional assessment to the Tax Official.
FAQ: Filing Form GST DRC-06 against Proceedings initiated by Tax Officer U/s. 73 and 74 related to determination of tax Q.1 What is Section 73 and 74 of CGST and SGST Act? Ans: Section 73: Covers determination of tax not paid or short paid or erroneously refunded or ITC availed wrongly or utilized for any reason […]
Export supply of goods or supply of goods in the course of export of the goods, and export of goods are not one and the same. For the purpose of Integrated Goods and Services Tax Act, 2017
Chartered Accountancy (CA) is one of the most desired and most rewarding career options in India. Students opt to enter the commerce stream with an intent to become CA after qualifying its three-level CA program which comprises Foundation, Intermediate, and Final stage. The course is accredited and managed by the Institute of Chartered Accountants of […]
The tax structure in India is divided into direct and indirect taxes. While direct taxes are levied on taxable income earned by individuals and corporate entities, the burden to deposit taxes is on the assesses themselves. On the other hand, indirect taxes are levied on the sale and provision of goods and services respectively and the burden to collect and deposit taxes is on the sellers instead of the assesses directly.
The data populated in 26AS is the data as per TDS returns uploaded by the deductors/ customers of the company under section 200 . Such data could be relied upon as “correct” for the purpose of reconciliation only when the statements of TDS so uploaded have been processed under section 200A with effect from 01/04/2010.
F. No S-32017/01/2019-WC Government of India Ministry of Labour & Employment Shram Shakti Bhawan, New Delhi Date: 01 November, 2019 NOTE Subject: The Preliminary Draft Rules under Section 67 of the Code on Wages, 2019- reg. The Ministry of Labour and Employment has prepared a preliminary draft rule under Section 67 of the Code on […]
BASIS FOR INCOME TAX LIABILITY IN INDIA The tax liability of a person Income-tax Act depends upon his residential status in the financial in which the income accrues or arises to him or is received by him. Financial year means the period of twelve months commencing on the 1st day of April every year. The […]
With effect from December 1, 2019 every promoter applying to MahaRERA for registration of their real estate project, shall have to mandatorily disclose their membership details with a MahaRERA registered SRO.
