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Search results for: input tax credit

Tax Notices to Importers for Tax Credit

DGST Sending Notices to Importers for GST Credit on Extra Tax Paid

The businesses that were urged to furnish more indirect taxes upon specific import come beneath the taxman’s lens to take the ITC upon some more amount furnished before as penalties. The Department of Goods and Services Tax (DGST) was initiated to provide the notices to the importers to take of the tax credit with respect […]

SC Order for Bharti Airtel Telecom Company

Supreme Court Rejects INR 923Cr Input Credit GST Refund to Airtel

Bharti Airtel has been permitted to improvise the GST returns furnished amid July and Sept 2017 said Supreme court by refusing the order of the Delhi High court post to comment performed by the company mentioning that they furnish the excess tax upon the inputs worth Rs 923 cr in the inadequacy of buying concerning […]

What are Electronic Cash, Credit, Liability, Negative Liability Ledger

GST Guide of Electronic Cash, Credit, Liability & Negative Liability Register

Towards GST the e-Ledger is an electronic form of passbook. These e-ledgers are present to all kinds of GST registrants upon the GST portal. The e-ledgers includes the information of the mentioned particulars: GST Amount deposited in cash towards the government liability in electronic cash ledger. Input Tax Credit available (ITC) balance in the electronic […]

Best Income Tax Software in India

Best 15 Income Tax Software for CA Professionals in 2024

In the current era, people need ready data to execute their chores easier and in less time. CA or tax practitioner companies need effective best income tax return software. Also, they seek effective practice management software for ease of filing compliance and laws. Work in distinct companies is executed through distinct capable software. On the […]

Problems of GST Amnesty Scheme

Issues of GST Amnesty Scheme As Per Section 16(4) for Taxpayers

GST law supports the free flow of the input credit. It is used to permit tax-free transactions and removes the rollover effects. Amnesty is directed towards forgiving the crime or the act of forgiveness for the previous offences. From the compliance of the old dictionary, Amnesty means “a fixed period of time during which people […]

GST Dept Recovered INR 1,900 Cr. in FY 2021-22

GST Authorities Collect INR 1,920 Cr. in Tax Evasion During 1st Quarter (Apr-Jun)

Tax Evasion has been prevalent from ancient times, persistent to date and will continue in future. Nevertheless, the regulatory authority can limit its intensity if they infuse the efforts aptly and by utilizing the latest technology. To date, In the April-June quarter of the present financial year, Tax evasion worth Rs1,920 crores has been recovered […]

Amazon’s Bill to Ship Feature for Solving GST Credit Issues

Amazon: New ‘Bill to Ship’ Feature for Claiming GST Credit for Business Customers

In a customer-centric approach, the world’s biggest e-commerce company Amazon has now rolled out the facility of “Bill to Ship” which is basically providing GST credit from across the states even if the Amazon Business customer had only one GSTIN in a single state. This move has been taken to offer a better indirect office […]

Taxpayers Worry Over Complete Input Tax Credit

Taxpayers Upset Over New Deadline of GSTR 1 Before GSTR 3B

Here is the reason for Taxpayers to be distressed and furious. No extension has been allowed beyond the May 20 due date for the purpose of filing the GSTR-3B and remitting taxes; however, the date for filing GSTR-1 that is required to claim input tax credits has been extended to May 26. “Ideally, the due […]

Must-read Before Filing ITR for AY 2021-22

Crucial Information for Filing Income Tax Return of FY 2020-21

The due date for filing Income Tax Return (ITR) changes based on the category of taxpayer i.e. whether a taxpayer is an Individual or HUF or Firm or other entity. Although the last due date for filing the Income Tax Return Get all due dates of income tax return and payment of advance taxes for […]

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