After receiving the tax returns, the tax authorities examines the returns filed and if due to any reason they believe that information submitted by an assesee is wrong or incomplete then the assesee is served with a notice demanding justifications/ penalty or any action as stated by the department in the notice so served. There […]
Introduction Under GST regime the classification of goods and services have been done depending upon the various groups formed broadly covered as HSN code and SAC code 1. What is SAC? Service Accounting Code is similar to the International HSN codes adopted by other countries across world. Similarly in GST the applicability of Service Accounting […]
Article explains Meaning of Input Tax, What is eligible ITC in GST, Conditions to claim credit, What is Blocked Credit under GST, Items on which credit not allowed in GST, Who can claim refund in GST and Amendment Notification with respect to the provisions of the Input Tax Credit. I. Introduction & Meaning of Input […]
Article explains Meaning of Input Tax Credit, What is Input Tax Credit under GST, Example of Input Tax Credit in GST, Relevance of the concept of the Input Tax Credit in the business parlance, Input Tax Credit Rules under GST, Amendment Notification in regards to the provisions of Input Tax. I. What is Input Tax […]
KYA BADLA, KITNA BADLA : A Comparative Analysis of Recent GST Notifications Issued by CBIC dated 29/01/2019, effective from 01/02/2019 The Central Board of Indirect Taxes and Customs (CBIC) has notified various amendments to the Goods and Services Tax which came into force on 01st February 2019 which is considered as the effective date. On a […]
The Internal Audit Standard Board of the ICAI has, with other pronouncements, issued five Standards on Internal Audit (SIAs) in November 2018. The SIAs are a set of minimum requirements that apply to all members of the ICAI while performing internal audit of any entity or body corporate. However these are not mandatory to be undertaken by […]
As per the survey* conducted by the Indian National Bar Association in 2017, over 38% women claimed to have faced sexual harassment at workplace while 50.7% said that they had been targets of harassment online. A total of 1971 cases of Sexual harassment at workplace were registered in four years i.e. since the enactment of […]
The article explains about the requirements of CGST Act and corresponding CGST Rules with respect to Accounts and records to be maintained under Goods and Services Tax Law. Record keeping is an important aspect for every business and its an integral part of every legal framework.
The article explains about the requirements of CGST Act and corresponding CGST Rules with respect to Accounts and records to be kept under Goods and Services Tax Law. Record keeping is an important aspect for every business and its an integral part of every legal framework.
As per Sec 35 of the CGST Act 2017, every registered person is required to maintain Accounts and Records. Sec 2(94) explains the meaning of registered person as ‘registered person’ means a person who is registered under section 25 but does not include a person having a Unique Identity Number”. Sec 25 of the act […]
