Aadhaar Authenticatiobn process has been introduced, for the persons applying for GST registration as Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service Distributor (ISD)/ SEZ Developer/ SEZ Unit etc, in Form GST REG 01.
GST Series – Part 26 – Furnishing of Return by Composition Dealer under GST– Section 39(2) of CGST Act 2017 1. The taxpayers who have opted GST Composition scheme are required to file only one return in every financial year. 2. Statutory Provisions- Section 39(3) A registered person paying tax under the provisions of section 10, […]
GSTR-3B is a summary return which came into existence since GSTR-2 and GSTR-3 never saw the light of the day due to the technical glitches in functioning of Matching System as stated in Sec 42 and Sec 43 of the CGST Act, 2017. Recently, Rule 61(5) of CGST Rules have been amended vide Notification No. […]
We are all aware that COVID 19 pandemic has a great impact on the economy and non-compliance under any tax law due to cash flow has led to the payment of interest, late fee, and penalty. Generally, September is the compliance month for tax laws such as Income tax or GST law (previous financial year […]
GSTR 3B -Furnishing of Return – Section 39(1) of CGST Act 2017 GST Series – Part 25 1. The GSTR-3B is a consolidated summary return of inward and outward supplies, required to be furnished by the registered person on a monthly basis. 2. Statutory Provisions Section 39(1) Every registered person shall, for every calendar month, […]
1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year 2018-19 onwards. This will help […]
In the series of tax reforms, the Prime Minister announced some reformative measure during launch of ‘Transparent taxation honouring honest’ platform like faceless assessment, faceless appeal process and tax payers’ charter. Let us discuss the measures announced and its impact on the system and the tax payers. Since implementation of faceless appeal is postponed till […]
Forget to verify your previous year tax returns? Don’t worry because CBDT has come up with a Golden Opportunity for those taxpayers who have filed their income tax return well within the time frame but afterwards forget to verify ITR V acknowledgement within 120 days. Some Important Points Related to this One Time Opportunity: 1. […]
Many GST compliance deadlines ended to 31st August, 2020. To avoid late fees and penalties, these due dates need to be remembered and file the returns. Let’s see which deadline ends on 31st of August, 2020. Deadlines that ends on 31st August 2020 1. GSTR-4 (2019-20): GSTR-4 is an annually form to be filed by […]
CBDT issues Detailed guidelines for the implementation of Faceless Assessment Scheme, 2019 and role of residual charges in this regard. F. No.173/165/2020 -ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, dated 14th August, 2020 To, All PrCCsIT, Subject: Guidelines for the implementation of Faceless Assessment […]
