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The last date for Goods and Transport Agencies to utilise the option of paying GST on an advance charge basis for the current FY to May 31 by the Government. The option of collecting and paying GST on a forward charge basis is available to goods transport companies under the GST system. However, if they […]
As per the Central Board of Indirect Taxes and Customs (CBIC) notification for termination of GST registration on non-filing of tax returns, the Karnataka High Court in its order directed the petitioner, Annadurai Muniswamy, to submit a revocation application. The petitioner filed the writ petition under Article 227 of the Indian Constitution and challenged the […]
Simple Intro About the Depreciation Depreciation is a concept that is used to write off the cost of an item over its usable life. Depreciation is a necessary deduction in an entity’s profit and loss statements for depreciable assets, and the Act enables deduction using either the Straight-Line technique or the Written Down Value (WDV) […]
The Andhra Pradesh High Court has ordered the government to send out new intimation notices with the concerned officer’s approval. The two intimation notices issued in response to differences in Form GST ASMT-10 were found to be invalid, noted by the bench of Justices Durga Prasad Rao and Venkata Jyothirmai Pratapa. The petitioner, M/s. Sudhakar […]
Haryana has a population of 3.06 crore and the state’s boundary acquires an area of 50,362 sq km, collected Rs. 10,035 crore GST in April 2023, its GST collection is four times that of Punjab’s collection of Rs 2,316 crore, which has a population of 2.99 crore and a surface area of 44,212 sq km. […]
The guidelines for the special all-India drive against the bogus GST registrations would have been issued by the Central Board of Indirect Taxes and Customs (CBIC). The department has released all details via Instruction No. 01/2023-GST. What is a Special All-India Drive Against Fake GST Registrations? The Central Board of Indirect Taxes and Customs (CBIC) […]
Basic Definition of Company Director Report In this post, we discuss the basic steps of how you can see your company director report using Gen Balance Sheet Software. The report of the director would be the document that is included in the annual report of the company. The same document furnishes stakeholders with complete information […]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, in response to an appeal, after finding that the basic condition as specified under Section 271(1)(c) is not fulfilled, removed the penalty being levied by the Revenue. The Delhi ITAT made the decision when an assessee filed an appeal regarding the directive against the order dated 15.11.2019 […]
Goods and Services Tax Network (GSTN) released a notification on 4.05.2023. The authority noted that some difficulty was faced by some taxpayers during filing GSTR-3B of the March 2023 period on 20th April 2023. After investigating the matter, it was found that a larger number of taxpayers started filing GSTR-3B returns on the last day’s […]
