The Rule 114E prescribed under the reporting transactions and persons that need to file such records to Director/Joint director of Income Tax (Intelligence and Criminal Investigation).The same is produced below in a synopsis manner to help the reader to get a broad idea of the provisions and rules.
CBIC issued a Press release on 11th June 2019 explaining its Transition plan to the new GST Return. In this article author has explained ‘Transition plan to new GST Return’ for better clarity of Readers. 1. Transition Plan – Summarised: New GST returns namely GST RET 1 , GST ANX 1 and GST ANX 2 […]
I have tried to outline and summarize the bill cleared by the cabinet on the fugitive economic offender and related provisions.
We are in GST regime wherein the credit should be availed for reduction in cost and compliance should be made on timely basis. If compliance is not in place then we might end in paying hefty amount. After TRAN 1, we need to file TRAN 2 for credit on Ad hoc basis
Summary of supplies effected against a particular HSN code to be reported only in summary table. It will be optional for taxpayers having annual turnover upto Rs. 1.50 Cr but they need to provide information about description of goods.
