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No result found! Clear search ACCOUNTS AND RECORDS 1.Maintenance of accounts by registered persons (1) Every registered person shall keep and maintain, in addition to the particulars mentioned in sub-section (1) of section 35, a true and correct account of the goods or services imported or exported or of supplies attracting payment of tax on […]
The Central Board of Excise and Customs (CBEC) has released the GST draft rules and formats for refund and return. Previously, CBEC has asked for suggestions for the GST draft rules for registration, payment and invoices, which will be accepting comments and feedback until September 28.
The Central Board of Excise and Customs have invited suggestions/opinions on Draft GST regulations. The Draft GST rules are pertaining to the Registration, Payment, Invoice under respective formats by 28th September 2016. These suggestions will help the CBEC to make corresponding changes in the Model GST Law as mentioned below:
The Central Board of Indirect Taxes and Customs ( CBIC) notified that the physical account does not need to take forward when an e-invoice has been furnished. The board has collected descriptions of the concern that carrying a physical copy of the bills is mandatory, meanwhile movements of goods in cases where suppliers have cleared […]
The government has decided to continue the existing GST (Goods and Services Tax) return filing system for the time being. In place of launching the new GST return filing system, the government will try to introduce advanced features to the older system. The government will be launching from GSTR 2B for the Input Tax Credit. […]
The Union Ministry of Finance set up a task force to redraft the Income Tax law. Arbind Modi, the first convenor of the panel, retired on September 30. He was succeeded by Akhilesh Ranjan.
The GST Council may reduce tax rates on job work to those who are making fabric to the garment and put it under 5 percent slab rate structure in the GST framework. The meeting will be conducted tomorrow and may be the industry have to register online for goods worth above Rs 50,000 before getting transported.
Now the GST mandates all the goods lost, stolen and gifted to be maintained under the new taxation regime coming from July 1 most probably.
The Anti profiteering rules are stated by GST council to keep tax evasion and MRP rules under check. Goods and service tax is a wide tax scheme which has the target to engulf almost every taxpaying entity under its net.
