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Here is the comprehensive study of GST notifications based on the Amnesty Scheme & the revision of the time limit to apply for revocation in various scenarios. 1.0 late fees Amnesty scheme for GSTR 3B towards the period July 2017 to April 2021 has been extended from 31st August 2021 to 30th November 2021 [NN […]
One Step ahead and 2 steps backwards. Why? This principle of the dilemma is equally applicable in the tax mechanism also. The same error/ fault was persisting in the regime of Tax Deducted at Source (TDS) for certain categories of taxpayers. But Now, by insertion of section 197 related to the Income-tax Form 13, no […]
Interestingly the name itself Inverted Duty Refund as per GST is synonymous with its meaning. Long story short, the Inverted Duty structure is a mechanism wherein the rate of the tax on the inputs is greater than the rate of the tax on the output supplies. Consequently, in the aforesaid cases. The input tax credit […]
The Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) stood that a Limited Liability Partnership (LLP), implying not a “Body Corporate” under section 2(7) Companies Act 2013, is not likely to furnish the tax beneath the reverse charge mechanism (RCM). The petitioner was performing the services which consist of the manpower […]
We are living in the Digital Era. In view of the aforesaid fact, The Government of India has recently launched a mobile app through which you can file your Income Tax Returns Read the easy guide on e-filing of IT return online in India. Step by step guide to filing income tax returns through official […]
Worth mentioning that to put an end to the pending disputed GST refund-related claims and for lessening future disputes, the Government does not need to introduce structural changes or make amendments in the tax law. For facilitating the taxpayers, the government needs to introduce a hassle-free mechanism. And an apt refund mechanism is a prerequisite […]
In the era of Digital India when most of the mechanism of payments are cashless (for saving time, cost, and efforts) why not follow the practice of e-filing income tax returns (ITR). On June 7, the Government of India has launched a new e-filing web portal (having a feature of e-filing of ITR) that shall […]
The new income-tax portal 2.0, which was launched on June 7, is most probably going to add more private banks to its list for payment of income tax, fees, penalty, and refunds under the umbrella of the Income Tax Act 1961. The portal shall also provide multiple payment options that include Unified Payment Interface (UPI) […]
The old web portal of the Income Tax Department i.e. incometaxindiaefiling.gov.in has been replaced by a new and more interactive web portal that is assigned the web address of incometax.gov.in. The new web portal has been launched from June 7 onwards. Here are the changes that have made the new website more interactive and appealing. […]
