Opting to file quarterly return is optional. Even if the annual turnover is less than 1.5 crores, the taxpayer may not opt for quarterly filing and continue to file monthly return.
Clause 3 of the Bill seeks to amend the provision relating to calculation of continuous service for the purpose of gratuity in case of a female employee who has been on maternity leave.
Digital Era and the Chartered Accountancy Profession –Survey Report 2017 is a crucial step to take the pulse of the challenges profession faces in digital era, and making the profession digital ready.
Section 140 of the CGST/SGST Act provides for transition of Input Tax Credit of the existing taxpayers. A taxpayer can file Form TRAN-1 and avail Input Tax Credit on the basis of closing balance of the Input Tax Credit declared in the last return under the pre-GST regime.
GSTR3B Nil Return Filing: So far there was no provision to file NIL Form GSTR 3B Return. All taxpayers were shown all tiles along with Payment tile. But in new implementation, in case a taxpayer selects option to file Nil GSTR 3B return, they can straightaway file NIL Return. GSTR3B Return filing based on Questionnaire: […]
The Government has taken several measures to effectively control and curb the prevalence of parallel economy and unaccounted transactions. Major steps in this regard constitute:- 1. Enactment of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 w.e.f. 01/07/2015 to more effectively tackle the cases involving black money stashed abroad.
Taxpayers can now provide amendment to details of invoices/ credit or debit notes etc filed in previous period, through Table 9 of Form GSTR 1.
Functionality to file quarterly GSTR 1 returns has been provide on the GST Portal, for those taxpayer whose value of clearances is less than Rs. 1.5 Cr in current or previous financial year.
The Institute of Chartered Accountants of India (ICAI), has released Digital Competency Maturity Model (DCMM) for Professional Accounting Firms to enable the members/ firms to assess the current digital competence of their firms and building their firms competencies for their own growth and the profession at large.
Taxpayers, who were unregistered person under existing law, have been provided with facility to fill Form TRAN-2 on GST Portal, to give statement to avail credit on goods held in stock on the appointed day, in respect of which they were not in possession of any document evidencing payment of duty [refer Rule 117(4) of CGST rules].
