In the forth coming article we will discuss the issue that the right to avail the input tax credit is to be seen as on the date of the credit availment and not otherwise .The main intent of the this article is that whether ITC can be called upon to pay back by revenue officers […]
Article contains Important Definitions related to Lease of Land and issues in GST, Schedule entries related to Lease of Land, Reverse Charge Mechanism on Land Lease, Important Judgement and AAR related to GST on Land Lease with FAQ on Issues like: What is the difference between the lease of Land v/s Building?, What is a […]
We were told by history that before advent of cash there was concept of barter system though barter system where there was no currency ‘no cash’ and things were exchanged according to needs and sooner society realized that barter system having its own series of advantages and disadvantages need to be left behind with time and later on various personalities, kings and governments introduced new coins and currency made from time to time making impressions of their choice on such coins.
Webcast on GST E-Invoicing (For 100 Crs + Taxpayers) Implementation vide GSP – End to End Analysis, How to deal with Recent Changes in GST Return, Preparation for Departmental GST Audit, How to Handle Risky Exporters & GST Litigations.
With effect from 01st January, 2021 the new GST returns regime will be rolled out. Pursuant to the central government’s constant jostling with adverse, trying and demanding economic situations, an effort is being made to provide the small taxpayers some breathing space and easing the compliance burden, quarterly GSTR-3B filing is being implemented from 1st […]
The Central and State Governments have been continuously taking preventive measures in its mission to contain the spread of novel Corona Virus (COVID-19). Several important measures have been adopted to fight with COVID-19 and self-quarantine appeared to be one of the best solutions among others. In its endeavor to save its citizens from getting infected, […]
Recently, one of the major changes implemented in the Income Tax system. Now in Form 26AS, the Turnover as per GSTR-3B will be reported. Now, let’s discuss the implication of the same by going through some logical sequence. JOURNEY OF GSTR – 3B Originally, GSTR-3B was introduced as temporary replacement of GSTR–3. It was not […]
Under GST act various provisions has been made such as, levy and collection of tax, registration, returns, Input Tax Credit, payment of tax, refund, assessment, audits, determination of tax liability, demand and recovery, appeal etc. Accordingly, appropriate proceedings are initiated by the proper officers either on his own motion or on application of registered person, […]
It is held by Appellate Authority – GST, ANDHRA PRADESH in case of Sri Kali Krishna Industries Vs Assessing Authority AP that mere mismatch in GSTR 3B & GSTR 1 is not conclusive for any suppression of tax. The contentions submitted by the taxpayer need to be examined before issuing an order. Brief Fact of […]
1. GST PORTAL UPDATES 1.1. Taxpayers can now see aggregate turnover of preceding financial year on GSTN portal Now Annual aggregate turnover of preceding financial year can be checked from the GSTN portal. The Goods and Service Tax Network (GSTN), recently launched many new features on the GSTN portal. One of its features is that […]
