As you are aware, the Directorate of Recovery & TDS is the nodal point of CBDT for co-ordination with field formations for implementing the policy of naming and shaming on behalf of the Income Tax Department.
The Instruction No 9 of 2006 dated 7/11/2006 as supplemented by Instruction No 16 of 2013 deal with revenue / receipt audit. In spite of a comprehensive instruction with well-defined role & responsibilities of various authorities, the pendency of outstanding objections has not abated.
Majority of Business Expenses are liable for tax under Reverse Charge Mechanism (RCM) in GST. Even though liability to pay tax under RCM is in the hands of service receiver under GST, in practice such registered dealers are collecting tax from the service provider while making payments to them.
Although you can avoid taxes a little, unlike every other thing in your life, income tax is certain. Basically, it’s just that you do have a tax liability since your gross annual income falls under a certain tax bracket.
Yes, the Enrolment Application for enrolment under GST can be rejected in case incorrect details have been furnished or uploaded fake or incorrect documents have been attached with the Enrolment Application.
Three notifications under section 462 of the Companies Act, 2013[CA-13] have been issued after laying of such notifications in draft form before both houses of These notifications provide exemptions from the provisions of the CA-13 to respective companies (viz. Private companies, Government companies and charitable companies) as per recommendations of Companies Law Committee and other suggestions of stakeholders.
How can I view or download the Registration Certificate? To view or download the Registration Certificate, perform the following steps: 1. Login to the GST Portal with the valid credentials. 2. Click the Services > User Services > View or Download Certificates command.
In relation to the enrollment and registration process, some queries were raised by the trade. The resolution received for these queries from GSTN is brought to the notice of the trade through this circular.
If I buy raw material from supplier unregistered in GST, do I have to pay GST in RCM and can I avail ITC of the same ? Ans:- Yes, you have to pay GST via RCM. You can avail ITC of the GST so paid if you are otherwise eligible.
Since GST is in place and has replaced old indirect taxation from 1 st July, 2017, new concept of RCM (Reverse Charge Mechanism) for buying from unregistered dealer and GST on advance received from the customer has made difficulties for most of the accountant.
