The impact of credit note & their amendments will now be auto-populated in Table 4(A) instead of Table 4(B) of GSTR-3B. In case the value of credit notes becomes higher than sum of invoices and debit notes put together, then the net ITC would become negative and the taxpayers will be allowed to report negative values in Table-4A. Also, taxpayers can now enter negative values in Table 4D(2) of GSTR-3B.
With the increasing trend of electronic commerce, the use of prepaid vouchers and gift cards has increased exponentially not only in B2C transactions but also in B2B transactions. Vouchers are instruments that are redeemable on their face value against supply of goods or services. For example, multi-brand retailers supply gift cards to their customers which can be redeemed against the purchase of merchandise of their brand of value equal to the face value as printed on such gift card.
Upon perusal of Balance Sheet for the financial years 2017-2018, it is observed that the Company has shown an amount of Rs. 3,09,72,680 as current investment However, the Company has failed to disclose the details of the name of the body corporate (indicating separately whether such bodies are (i) subsidiaries, (ii) associates, (iii) joint ventures, […]
Upon perusal of Balance Sheet for the financial year 2020-2021, it is observed that the Company has shown an amount of Rs. 1,26,30,680 as Non-current investment However, the Company has failed to disclose the details of the name of the body corporate (indicating separately whether such bodies are (i) subsidiaries, (ii) associates, (iii) joint ventures, […]
Result of CS Professional Programme and Executive Programme Examinations, December, 2022 Session would be declared on Saturday, 25th February, 2023
Ministry of Finance 1. ANTI-AVOIDANCE RELATED TO INTEREST PAID ON BORROWED CAPITAL Budget 2023 proposes that cost of acquisition or improvement of house property shall not include the amount of interest on borrowed capital, which has been claimed earlier as deduction. While interest paid on borrowed capital for acquiring or improving a property can, subject […]
Kindly introduce one time amnesty scheme for either waiver or reduction of late fee and penalty for procedural lapses like delay in filing returns like GSTR 1, 3B, 4, 9, 9C, 10, ITC-04, etc for the period from 2017-18 onwards.
गुड्स एंड सर्विस टैक्स को भारत में 2017 में पेश किया गया था और अब 5 साल से अधिक समय बीत चुका है लेकिन जीएसटी परिषद और वित्त मंत्रालय के लगातार प्रयासों के बाद भी व्यापार और उद्योग इसके साथ बहुत सहज नहीं हैं। आइए उन आवश्यक कदमों पर एक नजर डालते हैं और ये […]
Registrar of Companies, Gujarat issued a letter to the company but the letter returned back to this office with postal remark ‘In Complete.’ However, the address was mentioned as per master data of the company. Whereas, in view of the above, it is noticed that the company has not maintained its registered office of the […]
CBDT notifies ITR-7 for Assessment Year 2023-24/Financial Year 2022-23 vide Notification No. 05/2023-Income Tax Dated: 14th February, 2023. MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 05/2023-Income Tax Dated: 14th February, 2023 G.S.R 95(E).—In exercise of the powers conferred by section 139 read with section 295 of the […]
