A comparison of Internal control over Financial reporting (ICFR) with The Goods and Services Tax (GST) The objective of Internal Financial Control (section 134(5)(e) of the Companies Act, 2013) is that policies and procedures are in place ensuring orderly …
Revision in Formats of Submission of Costing data for Anti Dumping Duty Cases In order to streamlining the Anti Dumping Duty (ADD) investigation process the DGAD has revised the format of ADD costing and maximum documents required signatures of …
E-way Bill under GST In transition from earlier Indirect Taxes to GST, the another step from Government is to Introduce E-way bill under GST to ensure that goods being transported comply with the GST Law and as an effective …
Refund procedure for Duty Paid Exports Background- It’s already over six months since the GST was implemented. However, GST return filings are yet to be streamlined. With suspense over continuation of filing of GSTR 2 and ‘matching concept’ there …
Levy of GST on accommodation services, betting and gambling in casinos, horse racing, admission to cinema, homestays, printing, legal services etc. Based on representations received from trade, GST authority has issued clarification through Circular No. 27/01/2018-GST dt 4th January, …
Late Fees under GST A. Provisions relating to Late Fees The section 47 of the GST Act requires the registered person to pay late fees where returns are not filed by due date. The said section read as follows: …
Complete Guide to E-Way Bill under GST E-Way Bill under GST: E-way bill is an electronic document generated on the GST portal evidencing movement of goods. It has two Components-Part A comprising of details of GSTIN of recipient, place …
GST data and Cost Records Annexures to be maintained GST data & Cost Records/Cost Audit Annexures to be maintained as per the headings of Customs Tariff Headings: Four Digit Level or Eight Digit Level MCA has issued one notification …
Advance ruling has been internationally recognized as ‘A more or less binding statement from the revenue authorities upon the voluntary request of a private person, concerning the treatment and consequence of one or series of contemplated future actions or transactions.” …
Process of GST refund filing The GST policy wing has further elaborated on process of refund filing arising on account of inverted duty structure, deemed exports and excess balance in electronic cash ledger vide Circular no. 24/24/2017-GST dated 21.12.2017. …
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