As of 21st April 2020 Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can be utilized in settling liabilities of that head only. In case a…

  A new facility of filing nil return has been provided by GST Department to ease the compliance burden cost on the Assessee in case of nil return vide Notification No. 58/2020 – Central Tax dated 1st July 2020; Rule…

Composition Scheme under GST: The Composition levy scheme is a very simple, hassle free compliance scheme for small taxpayers. It is a voluntary and optional scheme. Salient Features: No elaborate records required  Only quarterly returns required to be filed Payment…

  As the date of filing of annual Return under GST being 30/06/2019 is fast approaching and  there appears no news of any extension we present here certain clarifications in the reference of annual return filing which are essential while…

Intent of the process: Provisional Assessment is a boon for the asessee as well as the department as this concept tries to minimise litigation by assessing the goods/services in advance on the request of the assessee so that in future…

  It has been a common case where the taxpayer stores its goods with the transporter place as a matter of practice or by virtue of necessity then what will be the provision related to eway bill .In this reference…

  Since TDS and TCS has become effective from 01/10/2018 which has been explained in our earlier post here still there were some points to be clarified which have been explained as follows for ready reference: REGARDING TCS Foreign e-commerce operator…

TDS/TCS implemented After a lot of hue and cry finally the provisions of TDS /TCS have been effective from today viz 01/10/2018 .These provisions have been in vogue in erstwhile acts yet in GST due to one nation tax the…

  Applicability The form is a reconciliation statement between the figures as reported in GST returns and the figures as appearing in Audited books of accounts Who is liable to submit form GSTR 9C: all the assessees whose books are…

  Now since the Annual Return of GST is out and the date of Tax audit under Income tax is approaching we will present our final post regarding finalisation of accounts in GST Era.We had already explained in detail the…