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Glimps of Finance Bill 2019 presented by FM Mr. P Goel

Views: 95 New Finance Minister MR. Piyush Goel has presented Finance Bill 2019 on 01-Feb-2019. In Finance Bill 2019 he has proposed following major amendments related to Direct Tax:    Finance Bill 2019 # 1. The Standard deduction has been increased from Rs.40,000/- to Rs...

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Important of Debit & Credit Notes in GST Era

Accounts and Records

Views: 362 The debit notes and credit notes are a very essential part of any relationship between the debtor and the creditor which are required to be issued under various circumstances. GST law has its own requirements for issue of these documents which must be...

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32nd meeting of GST Council accorded massive relief for MSME sector.


Views: 424 The GST council in its 32nd meeting as on 10-01-2019 headed by Mr. Arun Jaitleyji, accorded massive relief for MSME sector. GST Threshold LimitIn 32nd GST council meeting to help SMEs the Threshold limit increased to 40 Lakhs, effective April 1, the GST...

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GST audit in case of Provision of services

Views: 235 Under GST law the point of taxation in case of services arise at the time of supply of services which is to be determined based on the principles laid down under section 13 of the CGST Act. 1.General rule: a) Timely issue of...

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Blocking/Unblocking of ITC by GST Authorities on GSTN

Views: 295 Blocking/Unblocking of ITC The Government of Haryana has issued guidelines regarding circumstances in which input tax credit (ITC) can be blocked/ unblocked from the electronic credit ledger vide Circular Memo No. 3555/GST- 2, dated 30 October, 2018. GSTN has recently released an application...

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GST Refund for multiple tax period advisory


Views: 207 GSTN has published advisory of GST refund for multiple tax period   1. GST Refund application filing for multiple tax period is available for below grounds of refund: a.Export of Goods & Services Without payment of Tax b.Export of services with payment of...

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Glimpse of TDS Provision under the GST Act – Revised

Views: 316   The provisions relating to tax deduction at source is contained in section 51 of the CGST Act. From 1st of October the TDS provisions would be applicable vide Notification No. 50/2018 – Central Tax dated 13th September, 2018. This article deals with...

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What information should be filed in GSTR-9 return

Views: 631   All GST registered taxpayer must have to file GSTR-9 Annual Return. GSTR-9 returns consolidates the information furnished in the monthly/quarterly returns during the year. Let’s understand what information should be filed in GSTR-9 return. The following information is expected to be filed in...

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Updated Draft regarding Lapse of ITC Under GST Act

Views: 813 10 Highlights of Undated Draft Circular of August 2018 -354/290/2018-TRU regarding (Input Tax Credit) ITC to Lapse. The Tax Research Unit of CBIC has issued a draft circular to address the controversy arising due to lapse of credit in respect of fabrics vide...

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Six Compliance Tips for Aspiring Entrepreneurs

Views: 341 Aspiring Entrepreneurs : It’s a known fact that every startup is haunted with though complying with various regulations. One of the mistakes entrepreneurs or founders of an early-stage startup who are new to the business ecosystem does not understand the compliance requirement or...

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