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GST department audit parameters towards the selection eligibility, required documents which could be obliged for the and proactive steps to be undergone. GST is the biggest tax improvement in our country and to a larger extent it has been stable now but the assessee is still struggling with some problems and compliances needed to be […]
Even after 4 years of GST implementation and over a thousand notifications and circulars, we are still facing a lot of problems in GST on-site maintenance or in the department’s working. Due to the issues and continuous changes many times, businesses and professionals face a lot of problems. This is unfortunate to say that even […]
The assessee beneath the regular category used to furnish the GSTR-1 and GSTR-3B to report the transactions. GSTR-1 uses to report the information of the outward supplies which consists of revisions if any and the GSTR 3B is towards reporting the summary transactions for the payment of the taxes and ITC claim. Inside the tax […]
On Sunday 29th August 2021, the Finance Ministry has extended the last date for availing of the GST Amnesty Scheme, under which taxpayers were liable to pay a decreased fee for delay in filing monthly returns by 3 months till November 30. The GST Amnesty Scheme was introduced by the GST Council, headed by Nirmala […]
ITR filing is important for all specific people if their taxable income exceeds Rs 250,000 per year. According to the ITR rules, the ITR filing is also important for the person who has furnished more than 1 lac in electricity bills or offered foreign travel exceeding Rs 2 lakh in the financial year. But the […]
Discipline matters a lot in tax-related issues also. If you are late you have to bear the cost in the form of a penalty. And all possible discrepancies and escalations along with consequent fines are mentioned in the various provisions section 47 and section 50 of the CGST Act 2017. However, recently, the government has […]
A short time ago, the Central Board of Indirect Taxes and Customs issued the Central Goods and Services Tax (Sixth Amendment) Rules, 2021 that amended Central Goods and Services Tax Rules, 2017. Various amendments have been made in Rule 80 of CGST Rule pertaining to Annual Return, FORM GSTR-9C and FORM GSTR-9. Here are the […]
GST PMT 06 has been a popular way of tax-paying in registered taxpayers for one month after bearing in mind the availability of input tax credit completely that may be a straightforward administration on own of the second and third month in which additional input tax credit amount available compared with the tax liability going […]
The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) policy originated through the Central Board of Indirect Taxes & Customs (CBIC) dated 1st Jan 2021 to assist the small assessee in diminishing their burden under rules. The article covers the process of tax payment to be furnished for the initial 2 months of the […]
