Suspension of GST Registration – 1st February 2019 The insertion of the provisions relating to the suspension of GST registration is a welcome step for the GST registered taxpayer. With the insertion of suspension provisions, all those taxpayers who have applied for cancellation of GST registration would be relieved from the continuous compliance burden under […]
Assessees receive notices for missing Advance Tax payments Income tax authorities have turned the heat on taxpayers who have missed paying Advance Tax as the department makes a year-end dash to meet budget targets. The authorities have started issuing show-cause notices asking assessees to explain why any advance tax installment was missed.
New releases on GST Portal – GST.GOV.IN New functionalities /enhancements deployed on GST portal recently is given below: (A) Assessment and Adjudication: (i) Rectification of mistake in the order by the Adjudicating Authority: Errors or mistakes apparent on the face of record can be rectified by the Adjudicating Authority, on basis of suo-moto rectification or […]
गुड्स और सर्विसेज टैक्स 2019 – आशा की नयी किरण गुड्स और सर्विसेज टैक्स 2017 में भारत वर्ष में लागू किया गया था और अब हम आज नए वर्ष 2019 में प्रवेश कर रहें है और जुलाई 2017 से अभी तक जीएसटी में क्या –क्या हुआ इसके बारे में हम लगातार चर्चा करते रहें हैं […]
Goods and Services Tax on income earned by Bloggers As already discussed in previous article (GST Applicability of income Received from Google Adsense) YouTubers or bloggers don’t need to register themselves if their aggregate turnover is less than the prescribed limit which is 20 lacs for normal state and 10 lacs for special category states […]
GST Audits – Standards on Auditing The generally accepted auditing practices (GAAP) are those set-out Internationally which enable comparison of financial statements to post audit across the world to be uniform except local carve-outs. The ICAI formulates the Standards of Auditing (SAs) and auditors are to draw attention in case of non-compliance or material departures. […]
Section 44AA and 44AB: A Quick View Most of the people are very much confused about the maintenance of books of accounts and audit requirement thereof. There are many misconceptions about the legal requirement for books of accounts Under Section 44AA and 44AB as per the income tax act. The books are not mandatory required […]