Arjun (Fictional Character): Krishna, several cases of fraudulent claim input tax credit (ITC) have been caught by the GST authorities. Considering the same, in Union Budget 2020 it has been proposed to take massive steps to curb issuance of fake invoice. So, what are they? Krishna (Fictional Character): Arjuna, to curb issuance of fake invoices, […]
Krishna, Government of India has taken a major step towards ensuring that people get their own house by introducing Pradhan Mantri Awaas Yojna and changes have been made in Tax laws also. Please tell me elaborately regarding this.
The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in our society.
The Issue of interest levy under GST is for periods- from 01st July 2017 to effective date of amendment to section 50 of CGST Act as per Union Budget 2020. As the amended section 50 of CGST Act, now levies interest on Net Amount. However, the GST department wants Interest to be charged on gross amount for above period and whereas taxpayers and various courts want it on Net Amount.
Arjuna: Krishna, the Union Budget for 2020-21 was announced on 1st of February 2020. Various new googly provisions were proposed in the same, kindly please explain which were those? Krishna: Arjuna, In the Union Budget 2020-21, there are certain provisions proposed, those may take the taxpayer’s wicket. While playing a 20-20 cricket match, the players […]
Krishna, on 26th January, India celebrates its Republic Day. Over the past few months GST and Income Tax departments have been sending notices to the taxpayers to increase the collection of Revenue. Please tell what are the weapons that department is using to take the Taxpayer’s parade?
There are two gateways through which taxpayer can make payment of GST. One is when the taxpayer makes payment through PMT-06 while filing monthly return GSTR-3B and when the taxpayer has made any mistake of short payment of tax or excess ITC while filing his return then, DRC-03 may be filed for correcting the mistake.
Krishna, the eve of Makarsankranti where people celebrate it by flying different types of Kites. This year new Income Tax returns have been notified by CBDT. How shall the tax payers fly the new ITR?
Arjuna (Fictional Character): Krishna, the eve of new year was celebrated with enthusiasm. What are the 20 major things to be kept in mind in this year 2020 by the taxpayer? Krishna (Fictional Character): Arjuna, every new year comes with new hopes, new aspirations, new responsibilities and new challenges. 2020 is a leap year, to […]
After many delays the utility for GST Audit was released by GSTN. The utility for GSTR-9C was updated as per notification issued on 14th November, 2019. The year 2017 is about to end while awaiting for the audit report form. Now in the year 2020, audit of the year 2017-18 and 2018-19 will be uploaded due to GSTN Portal and Audit forms technical issues.
