The spread of Novel Corona Virus (COVID-19) across many countries of the world, including India, has caused immense loss to the lives of people and resultantly impacted the trade and industry. In view of the emergent situation and challenges faced by taxpayers in meeting the compliance requirements under various provisions of the GST Law, Government […]
In today’s scenario there is a lot of confusion that are we liable to file GST returns after applying for cancellation of GST registration on voluntary basis. Are we liable to pay any penalty for not filing GST Return in between the period of application and cancellation order? Whether there is a need to file […]
Major Benefits of Income Tax Returns: 1. Easy Loans Approvals: Majority of Banks ask for a copy of Income tax returns for at least 3 consecutive years, so if you are planning for a loan in future then it can help you for easy loan approvals like Home Loan, Personal Loan etc.
Explanation of Rule 88A: FIRST FULL UTILIZATION OF IGST ITC- input tax credit on account of integrated tax shall first be utilised towards payment of integrated tax, and the amount remaining for central tax and State tax or Union territory tax if any.
As per Notification No. 50/2018, dated 13th September, 2018 – Central Government implemented provisions of section 51 of CGST Act (TDS under GST) with effect from 1st October, 2018 Specified Persons Under section 51 following persons are required to deduct TDS: a) a department or establishment of the Central Government or State Government; or b) local authority; […]
A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is statement of stocks held by such taxpayer on day immediately preceding the date from which cancellation is made effective.
