"TAX CONSULTANT"
Analysis over the Standard Operating Procedure given by the CBIC, to be followed by Proper Officer for Non- Filler of Returns. 1. Three days before the due date of filling the return, the taxpayer will receive the message from the department for filling the return on or before the due date. 2. If on the […]
As we all know that the finance act 2017 which is applicable for the previous year 2017-18 has made an amendment in Section 44AB (Tax Audit) by inserting a new proviso which has made the applicability of this section completely different.
Before starting our discussion on Goods Transport Agency (GTA), Let’s first understand that who is a GTA under GST. Well, the answer to this question is given in Para 2 of N/NO. 12/2017 CT(R) and N/NO. 9/2017 IT(R) dated 28/6/2017, and as per the above said notification GTA means any person who provides services in […]
What If a taxable person is unable to determine 1. Value of Goods/Services or both or 2. The rate at which he is required to pay tax to the government. The answer of this question is in Section 60 of CGST Act, 2017 which talks about the Provisional Assessment. Provisional assessment provides a method for […]
Hello friends as we all know that the finance bill 2018 has introduced a new section 112A for the taxability of long term capital gain arising on the transfer of equity share or units of equity oriented mutual fund or units of business trust.
The determination of place of supply in G.S.T. is important because only after its determination it will be decided that a transaction / supply is liable to IGST or SGST/UTGST and CGST. The place of supply of service is determined u/s 12, 13 and 14 of the IGST act.
IGST / SGST / CGST paid under RCM mechanism can also be distributed by the ISD among its supplier of taxable goods or services or both having same PAN as that of the ISD.
As we all know that from 25.01.2018 vide notification number 06/2018 CT-R the GST rate on precious stone (hereinafter refer as goods) reduce from 3% to 0.25%. Everybody in the market is in the market is in the confusion that at what rate they will charge on the goods supplied after the change in rate […]
