Under GST act various provisions has been made such as, levy and collection of tax, registration, returns, Input Tax Credit, payment of tax, refund, assessment, audits, determination of tax liability, demand and recovery, appeal etc. Accordingly, appropriate proceedings are initiated by the proper officers either on his own motion or on application of registered person, […]
It is provided in section 107 (1) that any aggrieved person by decision or order passed under the act by adjudicating authority may file appeal to the Appellate Authorities prescribed in the act. Similarly, as per section 107 (2) of the act authorised officer, on direction of Commissioner may make an application to such Appellate Authority, in case order is prejudicial to the interest of revenue.
INTRODUCTION Section 54 of CGST act provides for grant of refund to any person of any tax and interest if any or any other amount paid by him subject to provision of the act and rules to any person. However, during the course of sanctioning refund, sometimes, refund is adjusted to the outstanding demand under […]
Audit by departmental authority is not new concept. It was already in existing in the existing laws. GST tax regime relies on self assessment and self compliance. In order to promote and ensure compliance of law by taxable person, Audit Mechanism has been introduced under GST act. There are three types of audit.
Under GST act , main thrust is on self compliance. Therefore , self assessment has given great importance in the scheme of the act. It is specifically provided in section 59 that every registered person should self assess his tax liability as per provision of act and after payment of such tax, and furnish valid return for each tax period , as specified in section 39 of the act.
Under Scheme of CGST act, persons who are to liable for registration requires to obtain registration. Every registered person, has to determine his tax liability by making self-assessment, and after making of payment of tax, is required to furnish correct and complete prescribed returns, as per provisions of the act and rules.
CGST and IGST acts provides that every registered person is liable to pay tax on all intra state and inter state supplies of good and services and he shall accordingly collect and pay tax on such supplies as per provisions of act and rules, at notified rates. Sometimes, due to confusion, ambiguity regarding correct rate of tax applicable on supplies, a registered person with abundant precaution collect tax on supplies at higher rate and pay it in Government tresury.
Government of Maharashtra has enacted Maharashtra settlement of Arrears of Tax, Interest and penalty act 2019 w.e.f. 06-03 2019. It provides for settlement of such outstanding arrears as on 01-04-2019 under Mvat act and other allied act, pertaining to periods upto 30-06-2017.
