Complete Step by Steps process for file your online Income Tax Return: Phase-I : Just visit via Log on to the official website portal of Income Tax e-filing – incometaxindiaefiling.gov.in. Phase-II : tap on New to e-filling if you are registering for the first time, else click on the registered user. Phase-III : Select the …
E-invoice limit reduced from INR 20 Cr to INR 10 Cr E-invoice limit reduced from INR 20 Cr to INR 10 Cr w.e.f 1st October 2022. i.e for any GST Registered person with Total Turnover cross INR 10 Cr. in any Financial Year 2017-18 onwards has to issue E-invoice w.e.f 1st October 2022. E-invoicing from …
GST Implications on pre-packaged & labelled goods On what instances is GST applicable on pre-packaged & labelled goods? To conclude, Goods and services Tax is applicable on specified food items when they are “prepacked & labelled” as defined in Central Tax (Rate) Notification No. 06/2022-. In this reference with Legal Metrology Act & Packaged Commodities …
Complete Overview on withdraw Form 15cb & Its functionality Chartered Accountants can withdraw Form 15CB where 15CA Part-C has not been filed for corresponding 15CB- Filing made after 1st April 2021 till 29th July 2022: Form can be withdrawn at any point of Submission made on 30th July 2022 onwards: within Seven days midnight 23:59:59 …
CBDT Circular No. 12/2022 – Guidelines for removal of difficulties U/s 194R Central Board of Direct Taxes vide Circular No. 12/2022 dated 16.06.2022 has issued guidelines to remove difficulties arising in giving effect to provision of section 194R. While the guidelines have been issues for removal of difficulties, however, it appears that the Circular in …
FAQs on Income Tax Return Filling Forms Q.1: Does an individual, being an NRI or resident but not ordinary resident (RNOR)), required to disclose details of their directorship in a foreign company not having any income accruing or arising in India? Ans: Yes. Q.2: In case unlisted equity shares is acquired or transferred by way of …
Overview of TDS Under Section 206AB & 206CCA Section 206AB and 206CCA, effective from national holiday, 2021, primarily requires for deduction (TDS) and collection (TCS) of tax respectively at a higher rate* for the required person. A specified person could be a person Who has not filed tax returns for two assessment years relevant to …
ALL ABOUT SECTION 206C(1H) BASIS SECTION 194Q SECTION 206C(1H) OBLIGATION BUYER SELLER TURNOVER LIMIT TO DETERMINE APPLICABILITY PREVIOUS YEAR TURNOVER/ GROSS RECEIPTS OF BUYER EXCEEDS 1 0CR PREVIOUS YEAR TURNOVER/ GROSS RECEIPTS OF SELLER EXCEEDS 10CR EFFECTIVE DATE 1ST JULY, 2021 1ST OCTOBER 2020 THRESHOLD LIMIT PURCHASE IN EXCESS OF 50 LACS FROM EACH SELLER …
What are the new Change GSTR-3B on Reporting of ITC availment, reversal & Ineligible ITC? Indian Govt issued Notification No. 14/2022 (dated on July 5, 2022.) purpose of the notification to allow taxpayers to accurately disclose information regarding ITC claimed, ITC reversed, and ineligible ITC in Table 4 of Form GSTR-3B, Above notified amendment in …
Complete understanding about the taxability of gift cards / gift vouchers Under GST. FACTS OF THE CASE: Business of a company:- The Company is engaged in the business of trading of “Gift cards/ Gift voucher’s” etc. the company buys these “Gift cards/Gift Voucher” from different suppliers and sell them to retail or wholesale customers which …