Here we have compiled Status of Writ Filed in Various High Court for Extension of Tax Audit Due Date. As per our knowledge 12 writ petition been filed with various High Courts out of which Six Writ petition been already disposed off, Five are pending and status of one is not known to us. 1. […]
The imposition of Goods and Service Tax Act has brought along with it lots of compliance in the form of return filing. Apart from monthly / quarterly return filing, the taxpayer also needs to file an annual return. As per provisions of section 35 (5) of the Central Goods and Service Tax Act, 2017, every […]
The Central Goods and Service Tax Act, 2017 provides that an annual return in form GSTR 9C is required to be filed by every registered person whose turnover exceeds INR 2 crore in a financial year. The most important part under Goods and Service Tax is dealing with availment of input tax credit. Part IV […]
The Central Board of Indirect Taxes and Customs, vide notification no. 49/2018 – Central Tax dated 13th September, 2018, has provided the format of FORM GSTR – 9C. As per section 35 (5) of the Central Goods and Service Tax Act, 2017, read with rule 80 (3) of the Central Goods and Service Tax Rules, 2017, […]
Section 35 (5) of the Central Goods and Service Tax Act, 2017 provides that every registered person whose aggregate turnover exceeds INR 2 Crore is required to submit a reconciliation statement along with the audited reports. The Central Board of Indirect Taxes and Customs, vide notification no. 49/2018 – Central Tax dated 13th September, 2018, has […]
Understanding Newly Substituted GST ITC-04 – Details of goods/capital goods sent to job worker and received back Defining ‘job work’ in simple terms can be undertaking any process on the inputs / semi-finished goods supplied by the principal manufacturer. However, the statutory definition of ‘job work’ is contained in section 2 (68) of the Central […]
The Central Board of Indirect Taxes and Customs, vide notification no. 39/2018 – Central Tax dated 4th September, 2018, has notified the format of annual return for the normal taxpayer in FORM GSTR – 9. The significant point to be noted here is that since the Goods and Service Tax was introduced in India on […]
As per proviso to rule 80 of the Central Goods and Service Tax Rules, 2017, read with section 44 (1) of the Central Goods and Service Tax Act, 2017, the person paying tax under section 10 i.e. composition taxpayer need to furnish an annual return in FORM GSTR-9A. The composition taxpayer needs to furnish the […]
On 1st July, 2017 India had seen biggest tax reform in the form of Goods and Service Tax (GST). Introduction of Goods and Service Tax has subsumed various taxes, resulting into simplification of the taxation process in India. Current article provides a synopsis of various returns to be filed by different categories of the taxable person under GST, along with due dates and details to be furnished in such returns, NIL return under GST, late fee for non-filing / late filing of GST return, proposed Sahaj and Sugam return.
GSTR – 1 return basically contains the sales transactions i.e. outward supplies of taxable goods or services. GSTR – 1 return can be filed monthly and quarterly based on the turnover of the taxpayer. If the turnover of the taxpayer is less than INR 1.5 Crore, GSTR – 1 return has to be filed quarterly and if the turnover is more than INR 1.5 Crore, GSTR – 1 return has to be filed monthly.
