Tax deduction at source under GST Clause 37 of GST Model Law, 2016 make provisions for GST TDS. GST TDS provisions can apply where total value of such supply, under a contract, exceeds rupees ten lakh.
Registration under GST Transitional provisions for existing taxable persons Existing taxable persons will be given provisional registration certificate. It will be valid for six months. They will submit required details. Then final registration certificate under GST will be issued – clause 142 of GST Model Law, 2016.
REVERSE CHARGE UNDER GST Meaning of reverse charge GST is payable by ‘taxable person’ who is supplying goods/services. This is provided in clause 7(2) of GST Model Law, 2016 and clause 4(2) of IGST Model Law, 2016
Penalty Provisions under the Income-Tax Act, 1961 Penalties for default in payment of Self Assessment Tax/ Payment of Tax/failure to comply with notice issued under section 142(1) or 143(2) or direction for audit under section 142(2A)/ under reporting and misreporting of income/ Failure in maintain information and document of international transaction or specified domestic transaction/ […]
Compounding Scheme of GST As all folks area unit aware concerning the projected huge tax reform within the country within the kind of GST. based mostly upon the Model GST Law as issued by government, I herewith created efforts to hide careful analysis on numerous subject material of projected GST Model Law in details for […]