Powerd By SAG INFOTECH
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Now a two-judge bench of Gujarat high court has given a judgement over the non-recovery of tax deducted at source petition over which the bench said that the tax department cannot take away the TDS from the employee in case the defaulter is the employer.
GSTR 7A is a GST form for all the tax deductors who had deducted the TDS i.e. tax deducted at source from the payments made. The form must include all the details of tax deducted at source by the supplier of the products.
As no verdict has come from the Central government regarding the payment of the accumulated Income Tax Credit amount to the Gujarat power loom weaving sector.
GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. Along with the GSTR 9C audit form, the taxpayer will also have to fill up the reconciliation statement along with the certification of an audit.
From the recent circulars passed in the context of Tax and GST, it is crystal clear that the central GST authorities, in collaboration with the State GST authorities
GST was always an ambitious plan when one takes into consideration the diversity that India as a nation subsumes within its territorial boundaries.
The main objective of the National Anti-profiteering Authority (NAA) is to ensure that benefits from GST Rate reductions reach end consumers.
Recently the Ministry of corporate affairs has issued a new revised draft for the amendment of details to be given in the cost audit reports required by the companies to submit them with the government.
The government has limited the further reduction in rates observing the revenue shortfall in GST collection in the first quarter of the fiscal of above Rs 40,000 crore.
