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Revised tax invoice in GST
Revised tax invoice in GSt Revised tax invoice in GST (1) A revised tax invoice referred to in section 31 and credit or debit note referred to in section 34 shall contain the following particulars – (a) the word “Revised Invoice”, wherever applicable, indicated prominently; (b)
GST ComplianceE-book on meaning of important terms used in GST by CA Ashok Batra
Introduction In order to carefully grasp and properly understand the Goods and Services Tax (GST), it becomes essential not only for indirect taxes professionals but for the tax administrators to have the knowledge of the precise meanings of the various terms used in the
GST ComplianceDetermination of Value of Supply (Under GST)
In order to reach the desired destination, we must know the address and the way. In the same way, to levy GST, we must know the value of taxable supply and the rules to calculate it. The value of a transaction as per the
Import / ExportServices Export from India Scheme (SEIS)
What is Foreign Trade Policy? Foreign Trade Policy The foreign trade policy is essentially a set of guidelines for the import and export of goods and services These are established by the Directorate General of Foreign Trade (DGFT), the governing body for
Labour LawImplementation of Labour Codes
Why New Labour Codes Economic Survey – States (Like Rajasthan from 2015) which are more flexible with Labour Laws are 25% more productive than their Counterparts 1. Only 10% of Entire Businesses in the Country is Organized 2. They are burdened with Compliance with
Income Tax ComplianceTax Connect: 310th Issue
Tax Calendar Due date Form/Return/Challan Reporting Period Description 11th August 2021 GSTR – 1 July 2021 Details of outward supplies of goods or services 13th August 2021 IFF July 2021 Details of B2B supplies on the IFF (optional facility for the taxpayers opting
GST ComplianceInstructions of Form GSTR-9
Instructions: – Terms used: a. GSTIN: Goods and Services Tax Identification Number b. UQC: Unit Quantity Code c. HSN: Harmonized System of Nomenclature Code 2. It is mandatory to file all FORM GSTR-1 and FORM GSTR-3B for the financial year for which the return is
GST ComplianceReconciliation under GST
Loosely speaking, reconciliation can be defined as, “Comparing different sets of data on the same category, prepared by different people, methods, or organizations. It includes identifying & investigating differences, & taking corrective action when necessary.” It is not merely a fault or difference finding
GST ComplianceClassification & Importance of HSN under GST
Importance of Correct Classification The term “Classification” is defined as a systematic arrangement in groups or categories according to established criteria. Under the given concept, the arrangement of varied items is into mutually exclusive but related classes. An essential and integral part of the
Income Tax ComplianceCircular No. 15/2021: CBDT
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No. 15/2021 New Delhi, Dated 3rd August 2021 Subject: Extension of timelines for electronic filing of various Forms under the Income-tax Act,1961 1. On consideration of difficulties reported by the
Income Tax CompliancePDF of Finance Act 2021 Passed by the Parliament
New in – Two sections of the Finance Act 2021 are notified from 1st August 2021. Section 110 and 111 of FA 2021 are notified by CBIC. These two sections belong to GST. It contains the removal of section 35(5) of the CGST Act and
GST ComplianceConstruction Services Under Gst – a Detailed Information
Food, clothing, and shelter are three basic needs of any human being. Construction activity not only provides homes by virtue of building houses but also provides food and clothing by giving them employment. It was the construction activity only, which turned out to be