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Search results for: Goods and Services Tax

1% Payment of Tax Liability in Cash

Myth Vs Fact! GST Rule 86B for 1% Payment of Cash Tax Liability

Myth 01: The bigger number of the assessee will be influenced by the rule. Fact: For several privileges such as exporters, suppliers of goods of inverted duty structure, assesses who have a footstep in the Income Tax database, etc. it is thought that this rule will be applied to only 0.5% of the total assesses […]

New Due Date for Income Tax, Vivad Se Vishwas Scheme and GSTR 9, 9C Filing

Covid-19: CBIC Extended Due Date of GST Annual Returns, Income Tax Audit & Non-audit Cases

According to the assessee, the government has prolonged the deadlines for the income tax goods and services tax along with Vivad se Vishwas direct tax conflict intention policy with context to the view of the challenges which is raised because of Covid-19 pandemic. “Considering the problems being faced by the taxpayers, it has been decided […]

Brand Promotion Goods & Gifts Under GST Framework

Gifts & Brand Promotion Goods (Pens, Bags, Diaries) Under GST Structure

There are difficulties in the goods and services tax (GST) in the year 2021. Therefore an issue is raised on the healing towards the year gifts or brand promotion goods such as pens, calendars, bags, or diaries under the GST framework. Any goods such as a carry bag on which there is a brand embossed […]

Tax Benefits for Private Sector Employees Under LTC Cash Voucher Scheme

Tax Benefits of LTC Cash Voucher Scheme for Private Employees

Due to the Covid-19 Pandemic, back-to-back lock-down were imposed this year and it disrupted people’s travel plans. It means that many people are not able to use their available Leave Travel Allowance (LTA) from their pay structures. In view of the difficult economic environment, and to encourage individuals to use their unclaimed LTA amounts and […]

GST E-Way Bill Validity Extension of Unloading Goods

KAR HC: 8 Hours Validity Extension Required While Unloading Goods After GST E-Way Bill Expiry

The validity of unloading the goods post expiry of the E-way bill may be extended for 8 hours to reach its destination prior to getting expired e-way bills declared by Karnataka High Court. The applicant is the owner of Hemanth Motors who is a dealer in TVS motors and the taxpayer enrolled beneath the plan […]

GST Payment on a Monthly Basis

Relax! Taxpayers Now Able to Pay GST Fee on a Monthly Basis

Starting from 1 Jan the GST assessee will be enabled to furnish the left returns on the grounds of self-assessment excluding the complex method of furnishing the returns monthly. The new Quarterly Return and Monthly Payment Scheme Know the everything about QRMP (Quarterly Return Filing & Monthly Payment) Scheme under GST. Also, we have included […]

Quick Guide to File GST REG 21 Form

Full Guide of Revocation Application in GST REG-21 Form for the Taxable Person

The term revocation states the reversal where the goods and service tax GST application for the revocation inside the Form GST REG-21 signifies that the reversal of cancellation of GST enrolment. The assessee is the only person to whom the proper officer cancels the GST registration, which will be applied for reversal of the denial […]

GST Council Law Panel Meeting

Law Panel of GST Council Decided to Handle Fake Invoice Issue

The GST council based law panel has decided to mutually come up with the options to handle the fake invoice issue and will be making a final decision on it. While the panel consists of bigger members it also has an extensive team of around 10 members from each state and centre and 2 members […]

GST Turnover Details Under 26AS Form

DoR: No Hard Work Related to GST turnover Under 26AS for Taxpayers

The revenue council on Monday specified that people are not paying the returns despite they have been founded with turnover in crores and declares that for the honest assessees while also stating that there will be no major amendment in the reporting of GST turnover data in Form 26AS. There is no more load on […]

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