FURNISHING OF GSTR 7 – SECTION 39(3) OF CGST ACT 2017- GST SERIES – PART 27 1. The GSTR-7 form is a monthly return form required to be furnished by all the taxable persons who are required to deduct TDS (Tax Deducted at Source) under 2. Statutory Provisions : Section 39(3) – Every registered person […]
1. It is ruled by Hon’ble HIGH COURT OF MADRAS in case of Precot Meridian Ltd that the department cannot refuse the refund of IGST for goods exported from India by relying on a circular which are issued only to clarify statutory provision and it cannot alter or prevail over statutory provision. 2. Statutory Provisions: […]
GST Series – Part 26 – Furnishing of Return by Composition Dealer under GST– Section 39(2) of CGST Act 2017 1. The taxpayers who have opted GST Composition scheme are required to file only one return in every financial year. 2. Statutory Provisions- Section 39(3) A registered person paying tax under the provisions of section 10, […]
Step by step procedure for online filing of ITR-2 (AY 2020-21) for individuals with income over Rs 50 lakhs or foreign income. Extend the deadline for filing return of income.
GSTR 3B -Furnishing of Return – Section 39(1) of CGST Act 2017 GST Series – Part 25 1. The GSTR-3B is a consolidated summary return of inward and outward supplies, required to be furnished by the registered person on a monthly basis. 2. Statutory Provisions Section 39(1) Every registered person shall, for every calendar month, […]
1. In view of the outbreak of Covid-19 , the Government has come up with few Notifications on 24th June 2020, for extending the various due dates for filing GSTR -3B return. CBIC vide Circular No. 141/11/2020 – GST dated 24th June 2020 has clarified the manner of calculation of interest for delay in filing […]
1. Statutory Provision:-As per sec 30 of CGST Acts 2017, a registered person, whose registration is cancelled by the proper officer on his own motion,may apply to such officer for revocation of cancellation of the registration within thirty days from the date of service of the cancellation order. The detailed provisions have been brought out […]
Furnishing Details of Outward Supplies [GSTR 1] – Sec 37 – CGST Act 2017 (GST Series – Part 24) 1. The details of outward supplies are required to be furnished by all the normal and casual registered taxpayers in a monthly Statement ie GSTR 1. Section 37 of the CGST Act read with Rule 59 […]
ACCOUNTS & RECORDS – SECTION 35 – CGST ACT 2017– GST SERIES – PART 23 1. Maintenance of accounts and records is one of the important compliance under the GST Act. The term books of accounts include all the records maintained in respect of money, sales, purchases, assets, liabilities, and items of cost. Section 35 […]
Credit Note & Debit Note is described as a document on which tax incidence can be passed or excess tax can be refunded or credited back. Section 34 of the CGST Act, 2017 covers the provisions of Credit Note and Debit Note.
