Goods and Services Tax : In most of cases the person who receives summon feels very uncomfortable as it is an invitation of some trouble. Practically what ...
Income Tax : Purchase and capital expenditures are required to be reported under clause 44 of Tax Audit report as both falls under expenditure ...
Goods and Services Tax : Exports are good for any economy due to various reasons including the most popular reason of foreign currency being received by ex...
Goods and Services Tax : GST is a destination based consumption tax which is a major departure from existing origin based taxation system. Under destinatio...
Goods and Services Tax : India had an internet user base of about354 million as of June 2015 and is expected to cross 500 million in 2016.Despite being the...
CA Vinod Kaushik Introduction: This article has been written to give you clarity on the implication of DVAT (3rd Amendment) Bill, 2015 which was introduced in the Delhi Legislative Assembly on 04th day of December 2015 and after discussion on the floor of the house was passed on the same date. The implication of the […]
CA Vinod Kaushik What is HSN code? As per Wikipedia the Harmonised Commodity Description and Coding System, also known as the HSN (Harmonised System Nomenclature) is an internationally standardized system of names and numbers to classify traded products. These codes are basically used to fix rate of tax on various products at the time of […]
This document will give blue print on various return forms, mode of filing return and at last the processing of returns and corrections in filed return. As of now almost all the States and Central Govt. has prescribed online filing of returns along with relevant annexures. This article has been written to give clarity on likely procedures in filing e-return, various new features of e-returns under GST and also make comparison with existing returns under State and Central Acts.
As of now both the Union Govt. as well as the Empowered committee of State Finance Minister is planning hard to roll out GST from 01-04-2016 to make India a common market for goods and services. Recently the Empowered committee has released the draft process for registration, returns, payment and refunds under GST.
joint committee set up by Empowered committee of state finance minister has suggested a concept called Blacklisting of Dealers under GST regime which will put a cap on bogus and fictitious dealers.
CA Vinod Kaushik Introduction: Hope you are ready for the most awaited indirect tax reform called GST in the country since independence. The union Govt. headed by Hon’ble finance minister and Empowered group of State finance minister is working very hard to implement this reform from 01-04-2016 if the constitutional amendment bill is passed by […]
CA Vinod Kaushik Introduction: Almost all the dealers registered under Delhi VAT must have faced heat from their buyer due to mismatch in the sales shown by seller and purchased booked by buyer. This concept is commonly called as mismatch in form 2A and 2B which is creating trouble for the buyers and department in […]
In recent time Delhi VAT Department has started to issue system based default assessment notices and its consequential demand notices for tax, interest and penalties. The above notices are served through the login id of dealers and service of the same is assumed in law once we read the notice a system generated SMS is also sent on the registered mobile no. of the dealer.
CA Vinod Kaushik Introduction: While presenting regular budget of Delhi for the year 2015-16 the Govt. has projected to get Rs. 34661 crores from taxes in which Rs. 24000 crores has been proposed to be collected from Value added taxes only. In order to achieve the above target the Govt. machinery especially the VAT department […]
Earlier I was not keen in writing any negative thoughts of my mind about the possibility of introduction of GST from 01-04-2016 the biggest indirect taxes reforms in the country since independence. While expressing my views I may be little biased and favor ruling govt. on many occasions particularly our Finance Minister Mr. Arun Jaitley.
