FAQs

10 FAQs on Goods & Services Tax (GST ) for Company Secretaries

Goods and Services Tax - Q.1  What are the opportunities available for Company Secretaries under Goods and Services Tax regime? Ans. Under Goods and Services Tax, a Company Secretary has the following opportunities: To act as a GST Practitioner Pursuant to Section 48 of CGST Act, 2017 read with Rule 83 of Central Goods and Services Tax Rules, 2017 (CGST [&hellip...

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10 FAQs on ‘Anti-profiteering’ activity under GST

Goods and Services Tax - 1. What is an ‘Anti-profiteering’ activity? The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said […]...

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Application for Rectification of Order under GST with FAQs

Goods and Services Tax - A. FAQs > Filing Application for Rectification or Taking Action in the  Subsequent Proceedings u/s 161 Conducted by Tax Officer 1. How can Rectification of Orders be done? Rectification of order issued can be done on the basis of suo moto or upon receipt of application from taxpayer. 2. What is the time limit within […]...

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Application for Withdrawal of Summary GST Assessment Order & FAQs

Goods and Services Tax - FAQs > Filing Application for Withdrawal of Summary Assessment Order and Tracking the Status of the Subsequent Proceedings u/s 64 1. What is Summary Assessment u/s 64? Summary Assessment u/s 64 is framed by an Adjudicating or Assessing Authority (A/A) to assess the tax due from the person in charge of the goods if an […]...

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How to file Form GST DRC – 20 with FAQs

Goods and Services Tax - I. FAQs > Filing Form GST DRC – 20 (Application for Deferred Payment or Payment in Instalments) 1. What is the purpose of FORM GST DRC – 20? FORM GST DRC – 20 is an application form that can be filed by any taxpayer to apply for one of the following two options available to […]...

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FAQ’s and MCQ’s on GST

Goods and Services Tax - ICAI has come out with revised publication titled FAQ's and MCQ's on GST. It provides a comprehensive coverage of GST in easy to understand question answer format written in lucid language....

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Allotment of free of cost instant e-PAN on near to real time basic

Goods and Services Tax - Important Note: Instant e-PAN facility is Free of cost and instant allotment of e-Pan and is available only for a limited period on first come first serve basic for valid Aadhaar  holders. Prerequisites for e-PAN: Applicant already having PAN should not apply for e-PAN The e-PAN facility is ONLY for resident individual (Except Minors and...

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BEE recommendations on temperature setting of Air Conditioners: FAQs

Goods and Services Tax - Bureau of Energy Efficiency (Ministry of Power) has issued the guidelines to major commercial establishments with the objective of conserving energy through optimum temperature settings for the Air Conditioners, within the comfort zone /chart.It is estimated that changing the temperature from conventional 20-21 degree Celsius can result i...

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100 Practical issues and possible solutions on E – way bills under GST

Goods and Services Tax - ICAI has come up with an FAQ on E-way Bill under GST in which it discussed 100 Practical issues and possible solutions on E – way bills under GST. In this FAQ ICAI has considered almost all the issues which we will face in E- Way Bill System and Solutions for the same. Direct Link […]...

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Error Message ‘CESS liability is yet to be set off’ while resetting GSTR-3B

Goods and Services Tax - Taxpayer is not able to reset and file GSTR-3B. Error report shows YOU HAVE ALREADY OFF SETTED GSTR-3B, but CESS liability is yet to be set off....

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GST FAQs on Services to SEZ and by fabric processors (job workers)

F. No. CBEC/20/16/03/2017-GST - (14/06/2018) - FAQs on hotel and accommodation services etc. to SEZ / SEZ Developers and refund of unutilized input tax credit to independent fabric processors (job workers)...

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21 FAQs on IGST refunds on goods exported out of India

F. No. 450/ 119120 17-Cus IV - (15/02/2018) - Board has been continuously receiving representations from exporters and trade association in relation to pending IGST refund . In order to bring clarity amongst the exporters/trade associations. it has been decided to release Frequently Asked Questions (FAQ) on IGST refund which may be Circulated t...

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GST on accommodation services, betting, gambling, horse racing, cinema etc.

Circular No. 27/01/2018-GST - (04/01/2017) - Clarifications regarding levy of GST on accommodation services, betting and gambling in casinos, horse racing, admission to cinema, homestays, printing, legal services etc. – Reg. ...

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FAQs on computation of book profit to levy MAT for Ind AS companies

Circular Number 24/2017-Income Tax - (25/07/2017) - Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies....

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16 FAQS on implementation of GAAR provisions

Circular No. 7/2017-Income Tax - (27/01/2017) - Question no. 1: Will GAAR be invoked if SAAR applies? Answer: It is internationally accepted that specific anti avoidance provisions may not address all situations of abuse and there is need for general anti-abuse provisions in the domestic legislation. The provisions of GAAR and SAAR can coexist an...

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Recent Posts in "FAQs"

10 FAQs on Goods & Services Tax (GST ) for Company Secretaries

Q.1  What are the opportunities available for Company Secretaries under Goods and Services Tax regime? Ans. Under Goods and Services Tax, a Company Secretary has the following opportunities: To act as a GST Practitioner Pursuant to Section 48 of CGST Act, 2017 read with Rule 83 of Central Goods and Services Tax Rules, 2017 (CGST [&hellip...

Read More
Posted Under: Income Tax |

10 FAQs on ‘Anti-profiteering’ activity under GST

1. What is an ‘Anti-profiteering’ activity? The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said […]...

Read More
Posted Under: Income Tax |

FAQ’s and MCQ’s on GST

ICAI has come out with revised publication titled FAQ's and MCQ's on GST. It provides a comprehensive coverage of GST in easy to understand question answer format written in lucid language....

Read More
Posted Under: Income Tax |

Application for Rectification of Order under GST with FAQs

A. FAQs > Filing Application for Rectification or Taking Action in the  Subsequent Proceedings u/s 161 Conducted by Tax Officer 1. How can Rectification of Orders be done? Rectification of order issued can be done on the basis of suo moto or upon receipt of application from taxpayer. 2. What is the time limit within […]...

Read More
Posted Under: Income Tax |

Application for Withdrawal of Summary GST Assessment Order & FAQs

FAQs > Filing Application for Withdrawal of Summary Assessment Order and Tracking the Status of the Subsequent Proceedings u/s 64 1. What is Summary Assessment u/s 64? Summary Assessment u/s 64 is framed by an Adjudicating or Assessing Authority (A/A) to assess the tax due from the person in charge of the goods if an […]...

Read More
Posted Under: Income Tax |

How to file Form GST DRC – 20 with FAQs

I. FAQs > Filing Form GST DRC – 20 (Application for Deferred Payment or Payment in Instalments) 1. What is the purpose of FORM GST DRC – 20? FORM GST DRC – 20 is an application form that can be filed by any taxpayer to apply for one of the following two options available to […]...

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Posted Under: Income Tax |

How to File GSTR-11 for Inward Supplies with FAQs

Frequently Asked Question on GSTR-11 Q.1 What is Form GSTR-11? Ans: Form GSTR-11 is to be filed by persons who have been assigned a Unique Identity Number (UIN). It is a statement of inward supply of goods or services or both received by an UIN holder. Q.2 Who needs to file Form GSTR-11? Ans: Persons […]...

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Posted Under: Income Tax |

FAQs and Manual on GST ITC-02

FAQs on GST ITC-02 Q.1 What are the pre-conditions for filing of ITC declaration in FORM GST ITC-02? Ans: The following conditions must be met for being eligible to file the FORM GST ITC-02: 1. In case any registered entity undergoes sale, merger, de-merger, amalgamation, lease or transfer, the acquired entity must file ITC declaration [&...

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Posted Under: Income Tax |

All about Surrender of DIN with FAQs

As per rule 11(f), a person can apply for surrender of DIN only in the situation when DIN is unused and never used for appointment as director in any Company (except situations like unsound mind, death, and insolvent)....

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Posted Under: Income Tax |

Annual Return Filing under Company Law: FAQs

These FAQ’s are based on Latest amendments including Amendment by Companies (Amendment) Act, 2017 in relation to Filling of Financial Statement and Annual Return for financial Year ended on 31.03.2018. Q.1. As per Companies Act, 2013 Statutory Auditor shall be appointing for 5 financial years subject to ratification by members in every ...

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Posted Under: Income Tax |

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