Section 206C (1G) WHO ARE LIABLE TO COLLECT TCS Being an Authorized Dealer, who receives an amount, for remittance out of India from a buyer, being a person remitting such amount out of India under the Liberalized Remittance Scheme of the Reserve Bank of India…
UN-UTILIZED CREDIT OF CESSES, LYING IN CENVAT LEDGER AS ON 30.06.2017 HELD TO BE VESTED RIGHT AND TO BE REFUNDED IN CASH Delhi Tribunal holds; That credit of Education Cess, Secondary & Higher Education Cess and Krishi Kalyan Cess earned by the applicant vested right…
NOTIFICATIONS Timelines for compliance or action by any authority, which is required to be done under provisions of Section 171 of the CGST Act, 2017, have been extended Timelines for completion of compliance or action by any authority which has been prescribed under Section 171…
System computed GSTR-3B (Table-3 for liabilities) on the basis of GSTR-1 filed by taxpayers now available on the GST portal for monthly GSTR-1 filers. GSTR-1 is statement of Outward Supplies where-in a Normal Registered Taxpayer has to declare outward supplies effected during a tax period. …
1.Provision to make amendment, multiple times, in Table 4 of Form GSTR-8 Earlier, if no action was taken on TCS details, auto-populated in TDS/TCS credit form, by the supplier or if the same were rejected by them in the said form, the TCS (e-commerce operators)…
Central Board of Direct Taxes in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order in F.No. 225/136/2020/ITA. II dated 31.08.2020, for furnishing information about IT Return Filing Status to Scheduled Commercial Banks, notified vide notification No. 71/2020 dated…
Know Each and Everything about GST on Goods Transport Agency- a prevailing confusion | Exemptions | Tax Rate | Reverse Charge | Place of Supply Background The levy of tax on services of transportation of goods by road has always remained a subject matter of…
A proviso has been inserted in clause (i) of the Notification No. 35/2020-Central Tax, dated the 3rd April, 2020 which was amended by Notification No. 55/2020 -Central Tax Dated 27th June, 2020; the proviso so inserted reads as below "Provided that where, any time limit…