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 […]
Doctrine of considerable compliance Indirect tax laws has prescribed overplus of processes to be followed at completely different purpose of your time to avail of various advantages. However, over and over assessee didn’t abide by procedures in total and there’s dispute between department and assessee relating to availment of advantages to assessee.
Government might advance Parliament session to urge GST laws approved Eager to meet the Gregorian calendar month one target to roll out the landmark product and Services Tax+ (GST), the govt. might advance Winter Session of Parliament by a period of time to urge supporting legislations passed, departure spare time for implementation of the new […]