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 preparing the annual return.While reading this post it is essential and we presume that the reader
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 there is no litigation on various aspects of assessment in relation to that particular goods/services
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 department has issued clarification setting at rest all the difficulties and has also provided a detailed
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 is involved: Where registered supplier is supplying goods or services through a foreign e-commerce operator to
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 implementation means a lot as in earlier laws the effect were limited to states only
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 required to be audited under GST .Currently the Assessee whose turnover exceeds 2.00 Cr are under
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 intricacies of finalisation of books in Post GST era that would be the first 9
Finally the format for GSTR 9 and 9A has been released vide notification no 39/2018 dtd 04/09/2018 by the GST department In this post we will try to explain each and every column required to be filed in the form. The form 9 has been divided into 6 parts starting from Part I to Part
Recently GST department has issued lots of notices wherein the main reason behind was the mismatch of ITC claimed from that available.These notices left the assessees perplexed and will certainly land most of them in trouble in near future .In this post we will try to analyse the reason behind such notices,how to avoid them
Under GST there are three types of Audit wherein an audit of books of accounts involve thorough checking of books of accounts and their related documents which involves but is not limited to invoices, bank statements ,third party verifications as well a) Mandatory Audit: this involves the Audit by CA or ICWA depending upon the