The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961.
The Goods and Service Tax is payable on a self-assessment basis. If the assessee pays the tax on self-assessment correctly then there will not be any problem. If there is any short payment, non-payment or wrong utilisation of input credit, then the GST authorities will initiate demand and recovery provisions against the assessee.
All Income Tax Offices throughout India shall remain open on 29th, 30th and 31st March, 2018. The ASK Centers shall also be kept open on these days.
As per clause (68) of section 2 of CGST Act, 2017, job work means any treatment or process undertaken by a person on goods belonging to another registered person and the expression job worker shall be construed accordingly.
President Kovind addresses officer-trainees of the 71st batch of the Indian Revenue Service at Rashtrapati Bhavan; says India’s tax to GDP ratio needs to improve, but it has to be done by persuasion, not intrusion. You come from 22 different states and UTs and speak at least 21 languages. A third of the officer-trainees are […]
1. What is form GSTR-11? GSTR-1 1 is to be filed by persons who have obtained Registration or assigned a Unique Identity Number (UIN). It is a statement of inward supply of goods or services or both. 2. When to file GSTR-11? UIN holder can claim refund on inward supplies by filing application in Form […]
1. What are the features of FORM GST ITC-03 Offline Utility? The Key Features of FORM GST ITC-03 Offline Utility are: The ITC-03 details can be prepared offline with no connection to Internet. Most of the data entry and business validations are in-built in the offline tool reducing errors upon upload to GST Portal. 2. […]
In re M/s Maheshwari Stone Supplying Co. (AAR Telangana) Limestone slabs which have undergone the processes of cutting and polishing and which have been worked beyond the stage of the normal quarry products of chapter 25 are correctly classifiable under heading 68.02 of the Customs tariff as per the Harmonized Commodity Description and Coding System. […]
User-Friendly Goods and Services Tax Network (GSTN) Goods and Services Tax Network (GSTN) has sought the views of the taxpayers about their experience and difficulties. A survey was conducted by GSTN on overall taxpayer’s satisfaction during the months of October 2017 & November 2017. The taxpayers for the Survey were selected at random, on the […]
The month-wise consolidated figures of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under:
