Understand the process of receiving a GST DRC-01 notice for tax discrepancies. Learn about the relevant sections, time limits, and how to file a reply in DRC-06.
Understand the process of GST intimation in Form DRC-01A, issued for tax discrepancies. Learn about the parts of DRC-01A, applicable sections, and the response procedure.
Understand GST scrutiny under Section 61, including why an ASMT-10 notice is issued, how to reply with ASMT-11, and what happens next if a closure order is not issued in ASMT-12.
GST on the sale of used vehicles where input tax credit was not claimed and depreciation was, is levied on the margin (sale price minus written down value) and not the total sale price.
Understand Section 206C: Amendment in Interest rate for late payment of TCS. Learn the new 1.5% rate effective April 2025.
Understand the rules for interest on late TCS collection under Section 206C of the Income Tax Act, including the 1% monthly rate, calculation period, and non-deductibility of interest.
Understand TCS Form 27EQ filing requirements, quarterly return due dates, monthly challan payment deadlines, and interest implications for late collection or payment.
Understand Section 201(1A) for TDS late payment interest, including rates, calculation periods, principal amount, and implications for deductibility.
Understand the interest implications of delayed TDS deductions. Learn about interest rates, calculation periods, principal amount, and tax treatment of interest under the Income Tax Act.
Learn about TDS Return Form 27Q for non-salary income of non-residents, including due dates, penalties, and interest on late filing or payment.
