FM Nirmala Sitharaman has presented her first Union Budget on 5 July 2019. In the Union Budget Sec 194M and Sec 194N of Income Tax Act, 1961 has introduced with a view to encourage digital payments and discourage the practice of making payments in cash, the Union Budget 2019 has introduced Section 194N for deduction […]
With Goods and Service Tax (GST) being evident in every sector then how can the income from rent escape the premises. Well, GST is much modernized and a well-structured tax collecting mechanism as compared to any tax system in India. Nothing is 100% fine therefore provisions are still being introduced to eliminate the minute flaws […]
20 November, 2019 was to last date to file Form GSTR 3B for month of October 2019. The data released by CBIC indicate that returns filed on last two days were 11.52 lakh and 14.36 lakhs where as cumulative figure till 20.11.2019 is 60.91 lakh indicating that bulk of returns are filed on last 2 days or so, of course putting tremendous pressure on the GST network resulting in GSTN system even not functioning for some time on last day.
This Article contains provisions in regard of Real Estate and Joint Development Agreement which are applicable from 01-04-2019. It is presumed that all constructions and agreements are effected after 01-04-2019 and there is no case of ongoing project. Index for this Article: A. Definitions B. Supply under Real Estate Business C. Valuation of Supply under […]
Insolvency Professionals (IPs) to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees (Recommendation) Guidelines, 2019
Advisory for taxpayers for uploading multiple invoices/ credit/ debit notes as supporting documents with refund application (RFD-01) Tips for Scanning Documents and Reducing File Size for uploading supporting documents with the refund application Taxpayers are expected to upload the supporting documents while filing their refund application (Form GST RFD-01). The GST Common Portal allows taxpayers […]
There are high chances or it is most likely probable that Switching from the cost model to a fair value model would probably meet the condition and therefore, you can do it whenever you’re sure that you’ll be able to ascertain the fair value regularly and the fair value model fits better manner
Government has provided a window enabling the taxpayers to file the Form Tran-1 till 31.03.2019 and which is now extended till 31.12.2019. It should be noted that this facility is available only to the persons who have attempted to file the FORM GST TRAN-1 within the initial due date i.e., 27.12.2017 but could not file the same due to technical glitches in the portal and further has digital evidence to prove the same (category-1).
INTRODUCTION Globalisation of Indian economy has been gaining unprecedented momentum in recent years – almost two decades now. In its course, overwhelmingly large number of changes, that too of a significant nature / overreaching in effect , have been taking place; not only in the country’s economic front but also in almost every sphere of […]
Offline tool can be used for taking actions in auto-populated details in the Form GST ANX-2 by the taxpayers. Taxpayer can also download Form GST ANX-2 JSON file from GST portal to view/ take action on the documents as part of downloaded JSON in the offline tool.
