As per Section 139 AA of the Income-tax Act,1961 , all the taxpayers are mandatorily required to link their PAN with their Aadhaar Numbers. The earlier due date was 31st August 2017, which was extended to 31st December 2017. In view of the representations received and also on account of the difficulties faced by the […]
Time limit for linking Aadhaar & PAN extended to 31st March 2018 Read More »
The GST regime has brought many new concepts for making payment of appropriate GST dues. In the initial stages, it was confusing for most of the taxpayers to identify the correct head for the payment and in many instances, the taxes were remitted to inappropriate heads. For Example, the amount to be filled in SGST
Have you paid GST under wrong heads? Here is how you can claim the refund of the same.. Read More »
The following are the statutory obligations for the month of December 2017 [table id=15 /] [chat style=8 num=919840228480]
Statutory Obligations for the month of December 2017 Read More »
The Introduction of GST has reduced the compliance burden of the assessees who had registered with Excise/VAT/Service tax and the record maintenance requirement for these statutes were different. After introduction of GST, the requirement of maintenance of Accounts and records have been notified by the Act making it simpler for the tax payers to comply
ALL ABOUT ACCOUNTS AND RECORDS IN GST Read More »
The rates of GST for goods are undergoing changes frequently by way of various notifications. Hence there is a need for an updated list of GST Rate on goods as amended. The below table summarises the updated GST rates for Goods as on 15th Nov 2017. Source :- www.cbec.gov.in [gview file=”http://bssridhar.com/blog/wp-content/uploads/2017/11/new CGST rates.pdf”]
GST Rates for goods – as on 15th Nov 2017 Read More »
The payment of GST has been enabled by the GST portal (www.gst.gov.in). How to make payment of GST is explained below [gview file=”http://bssridhar.com/blog/wp-content/uploads/2017/08/Payment-of-GST.pdf”]
How to make payment of GST Read More »
Under the newly introduced GST regime, the GST Assessee having turnover less than Rs. 75 Lakhs can opt for paying GST under Composition Scheme. There are confusions about whether to go for composition scheme or Regular ITC method in GST. The tool below will help you in taking a decision as to whether to opt
GST – Tool to compare Composition Scheme & regular ITC scheme Read More »
The Central Government has notified Central GST (Fourth amendment) Rules 2017. As per the above amendment, the following are the latest amendments in GST Earlier, the last date for migration of the persons registered under existing law (VAT/Service Tax/Excise) was 30 days from the roll out of GST. This date has been extended upto 30th
Latest amendments in GST – Migration date extended Read More »
Under the present VAT Regime, different states follow different rules and forms for movement of goods within the respective states and also for Inter state movement of goods. The compliance requirements under the present VAT regime has many restrictions and different procedural formalities to be completed for movement of goods. The movement of goods under
Movement of goods under GST Read More »
As you are aware, GST is going to be introduced very shortly and it is imperative to know various aspects of the new enactment. One among the important aspects is Invoicing. Invoice is going to play a vital role in GST Input tax credit (ITC) Mechanism. Hence it is very important to know about the
ALL ABOUT INVOICING UNDER GST Read More »
Every taxpayer under GST will be allotted a State wise PAN based 15 digit Goods and Services Tax Payer Unique Identification Number (GSTIN). The various digits in the GSTN will denote the following: How to read your GST Number ? The First two digits represents the State in the Country where the registration is done.
Know the format of your GST Number Read More »
Composition scheme under GST GST Composition Scheme is a simple and hassle free scheme available for Small businesses who are running short of resources for carrying out compliance activities and also for business looking at easier compliance with less paper work and filing procedures. Among the various options available, the Composition Scheme stands out for
Composition scheme under GST – A Comprehensive Guide for Businesses 2024 Read More »
The Income-tax Department had recently made linking of Aadhaar & PAN madatory for assessees. A facility for the same was also introduced in the income tax efiling website www.incometaxindiaefiling.gov.in. Now the Income-tax Department vide its Notification No S O 1513(E) dtd 11th May 2017 has exempted the following assessees :- Persons residing in the States of
Exemption from Aaadhaar – PAN Linking Read More »
The Government of India had recently announced that the PAN numbers shall be linked to the Aadhaar mandatorily. Accordingly, the Income tax department had provided a facility in online efiling account , a facility to link aadhar card to the PAN. In most of the cases, as the Name of the Assessee as per PAN
HOW TO LINK AADHAAR TO PAN Read More »
The TNVAT (5th Amendment)Act 2013 – Act No 28 of 2013 requires reversal of Input tax credit @ 3% with regard to Inter-state Sales (CST Sales) . This was applicable from 11th Nov 2013 to 31st March 2015. There was an ambiguity whether this reversal provision is applicable to manufacturers also or applicable only to
TNVAT – Important Judgement on ITC Reversal for Inter-state Sales Read More »
