Explore the impact of GST on the booming second-hand goods industry in India. Learn about the Margin Scheme, its purpose, and key FAQs. Discover how other countries tax second-hand goods transactions. Gain insights into registration, margin calculations, compliance, and more. Stay informed for proper legal interpretation and compliance in this dynamic sector.
Stay compliant with the Annual Compliance forms for FY 2022-23. Know the due dates for forms such as MSME-1, PAS-6, DPT-3, DIR-3 KYC, CRA-2, ADT-1, MGT-14, DIR-12, AOC-4, MGT-7/MGT-7A, and CRA-4. Ensure timely filing to avoid penalties. Stay informed about the latest changes and due date extensions.
Learn how Input Tax Credit (ITC) can be availed even when there is a mismatch in GSTR-2A/2B. Understand the procedure applicable for the financial year 2017-2018 & 2018-2019, covering scenarios such as GSTR-1 not filed, failed reporting, wrong reporting, and incorrect GSTN. Get insights into the process to claim ITC in case of discrepancies and the conditions to be fulfilled. Stay informed with the latest updates post the 48th GST Council meeting.
Discover how an unregistered person can claim a refund of GST paid on an under-construction property after the cancellation of an agreement with the builder. Learn about the issuance of credit notes and the process of filing a refund application under Section 54 of the GST Act. Stay informed on the latest updates post the 48th GST Council meeting.
Exciting news for E-commerce sellers! The recent GST Council meeting approved a proposal allowing unregistered suppliers to make intrastate sales through E-commerce platforms without mandatory GST registration. Explore the details, benefits for small businesses, and key amendments in E-commerce GST regulations.
Apeksha Gupta Sometimes there may be a mistake in any order passed by the Assessing Officer. In such a situation, mistake which is “apparent from the record” can be rectified under Section 154 within 4 years from the end of the financial year in which the order sought to be amended was passed. The word […]
1. The EPFO vide Circular dated 29 Dec 2022 lays down the eligibility criteria for employees seeking higher pensions under EPS 95 Scheme. The circular is issued to comply with the Supreme Court’s direction vide judgment pronounced on 04.11.2022 2. Para 44(ix) of the said judgment stipulated that the fund authorities shall implement the directives […]
How to Calculate Futures and Options Turnove ? It is important to determine turnover in order to determine the applicability of tax audit as per Section 44AB of the Income Tax Act, 1961 or declaring income u/s 44AD.
In India, the lack of cyber security insurance availability is a major problem. India is among the top countries affected by cybercrime in the world. In 2019, over 11,000 incidents of data breach were reported in India alone. Cyber Security Insurance (CSI) is an important insurance policy as it provides coverage against financial losses due […]
Payment of tax and other amount in installments Section-80 (CGST Act 2017) +Rule-158 (CGST Rules 2017) Payment of tax and other amount in installments Section-80 (CGST Act 2017) +Rule-158 (CGST Rules 2017) Legal Provision (Bare Act) Section 80 -Payment of tax and other amount in installment On an application filed by a taxable person, the […]
