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A couple of weeks has been given to the Punjab and Haryana High Court Bar Association by the UT excise and taxation department for the submission of details of the revenue that the bar generates from its business establishments including the shops and paid-parking being operated by it. Parking-lot services and rental income attracts a […]
It’s been a few days left for the Union Budget 2020 presentation to take place in Parliament and the trade body Federation of Indian Chambers of Commerce & Industry (FICCI) has put forth another proposal. FICCI is sighing for excise duty benefits for the producers in the petroleum sector What will the scenario if petrol […]
GSTR 9C is a statement of reconciliation among the Annual Returns in GSTR 9 filed for a Fiscal Year and the figures based on audited annual Financial Statements of the taxpayer. Every registered individual whose aggregate turnover during a fiscal year is more than INR 2 crore must get his accounts audited as prescribed under […]
As per the revelations made by Punjab and Haryana High Court, all the assessee grievances linked to interest on GST will be addressed in GST Tribunal. The so-called provision was designated due to the recent petition that was filed against the demand for Rs 4,004,832 as interest on grounds of late payment of output tax. […]
Payroll is the most required management software by the corporate offices and large business houses for the overall maintenance of employees and their designated profiles. The payroll software also helps in generating salaries and arrears for the employees, along with the attendance and other statutory compliance required by the government for companies. Here we will […]
Here comes another addition to the Budget 2020 wishlist which seeks GST rate cut on BS-VI vehicles to 18% and behests for the announcement of an incentive-based scrappage policy, by the Society of Indian Automobile Manufacturers (SIAM), an industry body for automobiles. Further, pleas have been made by the industry body from the Finance Minister […]
A GST credit of approx INR 40,000 crore has been iced-up by the Central Board of Indirect Taxes and Customs (CBIC) on the grounds of GST returns mismatch Over the past months, many businesses in the country have received GST notices. There are around 34% mismatches or less GST payment, concluding the deficit. The departments […]
Besides, the extension of FAME-II advantages to e-bicycles was also sought by the Hero Cycles. “The budget must focus on reviving slumping demand across the country through a series of measures including re-adjusting GST slab rate to put more disposable income into the hands of people,” stated Pankaj M Munjal, Chairman, Hero Motors Company (HMC). […]
The set of guidelines has been issued by the Central Board of Indirect Taxes and Customs (CBIC) related to errors while uploading Balance Sheet and Profit and Loss statement with GSTR 9C audit form. CBIC commanded that documents such as the Balance sheet and Profit & loss statement/income & Expenditure Statement keywords that are used […]
