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.
1. The tax invoiceis a standard format required under the GST system. Sec 31 of the CGST Act 2017 mandates the issuance of an invoice or a bill of supply for every supply of Goods or Services. 2. Tax Invoice in respect of Goods: Section 31(1) A registered person supplying taxable goods shall issue a tax […]
It is held by the honourable Kerala High Court that the petitioner, who is an assessee under the GST Act, is not disputing his liability to tax, or the quantum thereof, for the period in question. It only seeks an installment facility to pay the admitted tax, together with interest thereon, in view of the financial difficulties faced by it during the Covid pandemic situation, when its business has come to a total standstill.
1. Revocation of cancellation means revalidation of cancelled registration. Section 30 of the CGST Act 2017 read with Rule 23 of CGST Rules provide for revocation of cancelled registrations. 2. Application for Revocation of Cancellation : Section 30(1) A registered person, whose registration is cancelled by the proper officer on his own motion, may apply […]
