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Search results for: tax refund

CPC 2.0 Jhatpat Processing for ITR 1 and 4

File ITR for AY 2020-21 with CPC 2.0 (Jhatpat Processing)

As per a tweet from IT department’s official twitter handler “File Karo Jhat Se, Processing Hogi Pat Se”, the department is ready to introduce a new technologically upgraded platform CPC 2.0 for faster processing of ITRs. And the filing of Income Tax Return for financial year 2019-20 (AY 2020-21) will be processed on CPC 2.0. […]

Benefits of GST E-invoicing for Government

GST e-invoicing May Reduce the Govt Compliance Load, Check Facts

For digital conversion, e-invoicing is an opportunity, it is one of the opinions of the government’s ‘Digital India’ operations. The fresh system of an invoice carries diverse benefits and is approved via government, for both the government and assessee and assists to enhance the simplicity of doing business. As the launch of the platforms for […]

Report on GST Invoices Under UIN

CBIC Declares Waiver on GST Invoices UIN Recording

The Central Board of Indirect Taxes and Customs (CBIC) announced the rejection of a recording of a Unique Identification Number (UIN) on the GST invoices Know the step by step guide related to generating e-invoice under GST along with benefits. On 37th GST Council Meeting, FM has approved the E-invoice system for traders for the […]

GST Audit Notice

What Procedure You Should Follow After GST Audit Notice?

In the context of reducing the tax collections between the bogus invoicing and fake input tax credit, the GST council has now provided the notice to the assessee to conduct an audit. They sought details about the credentials from businesses concerning the fiscal years 2020-21 and Onwards. Latest Update The audit consists of an examination […]

Problems Due to GST Framework

EEPC: GST Structure is Creating Difficulties for Engineering Companies’ Exports

The Engineering Export Promotion Council (EEPC) recently came up with a statement that the current rules-regulation and how they have been interpreted under the Goods and Services Tax (GST) framework are causing many difficulties for some engineering companies. The EEPC knocked on the door of the government and asked them to pay attention to this […]

Guidelines for UPI Payment Under GST

Central Govt Discloses Latest Guidelines for GST UPI Payment

The government has given the exemption in the penalty to those who seek business to consumer B2C transactions for 4 months duration from 1/12/2020 to 31/03/2021 to give invoices excluding dynamic QR code through the enrolled people with the turnover of more than Rs 500 cr says the Department of Revenue (DoR), Ministry of Finance. […]

SOP for Physical Verification of Business

CBIC Ordres GST Officials to Collect Physical Verification of Business Premises

A physical clarification is to be conducted for business premises that have to be granted deemed GST enrollment amid 21st August and November 16 so as to make sure that the business running by them is real. The CBIC has told that those people whose Aadhar card number has not been authenticated will not be […]

Penalty for P&G of INR 241CR

NAA: P&G Fines INR 241CR for Not Giving GST Rate Cut to Consumers

While the setback hit the market of multinational giant Procter & Gamble, the Anti-profiteering body of GST on Thursday seeks that the company of profiteering. P&G has told to give the amount of INR 241.5 cr. P&G in turn clarifies to the claims that they had followed all the legal options and works under the […]

Linked to Biometrics for GST Registrations

Law Panel Suggests Linked to Biometrics with New GST Registration

Those who do not have the Aadhar number will not proceed with the latest goods and services GST enrollment. The authorities seek to check that the GST is linked with the biometric details with the live photograph of the registrant so as to clarify the GST fraud. A new GST should seek an Aadhaar-like process […]

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