The Institute of Cost Accountants of India (ICMAI) has made a representation to the Finance Minister Arun Jaitley containing suggestions for the simplification of returns. Representation letter on the proposals made by the GST Council for Simplification of GST Return. …
Key Features of New Monthly Returns under GST It’s a compulsory return for the large taxpayer (i.e. turnover more than 5cr), this facility would be optional for the small taxpayer. The due date for filing of return shall be …
It has been one year since the country’s switchover to a new indirect taxation system – the Goods and Services Tax. Arun Jaitley One single tax replaced seventeen taxes and multiple cesses imposed by the Central and the State Governments. This …
I begin this article with my own quote “Profit is good but not profiteering”. The Indian Constitution does not restrict any businessman to earn profit in their business but subject to public interest. Earning profit is a main fundamental scenario for …
Immediate Compliance’s Under GST for Financial Year 2018-19 Input Tax Credit ♠ To be able to claim input tax credit of an invoice, its payment must be made within 180 days as per second proviso of section 16(2) of …
CBEC releases FAQ on E-Way bill As the Mandatory requirement to generate E-Way bill for Inter-State movement of goods has already been started wef 01.04.18, CBEC has released FAQ related to general portal, registration, enrolment, login, cancelling e-way bill, …
Due date to file GSTR-1 & 6 has been notified The Government has notified Due date for filing different returns under GST as given below : Due date for filing GSTR-1 for the period April – June 2018 …
GST Updates 28-03-2018 Notification/Circular no. Subject Note Circular No.38/12/2018 Dt. 26.03 .18 Clarification on issues related to job work- Circular attached for details 1.Where goods are sent by principal to only one job worker, Principal shall prepare challan in …
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 …
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 …
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