The authorised personnel can penalise a registered person or the consigner with a fine of Rs. 10,000 or the amount of the tax being evaded, (whichever is greater) if the person was caught
Let us take some time to get ourselves braced up for the “assessment scenarios”. The first and foremost step in the chain of Assessments is a “Provisional Assessment”.
In an attempt to lower the possibilities of GST evasion, e-way bill system was rolled out on April 1, 2018, for inter-state movement of goods worth over Rs 50,000.
GSTR1 is essentially a detailed report on all of your outward supplies, EWB is a sub-set to the GSTR 1 carrying details of only those outward supplies where there is movement of goods over and above a threshold limit.
E-way bill provisions have come into effect from 1st April 2018 for inter-state transactions and in a staggered manner will be rolled out for intra-state transactions by 1st June 2018.
The list of the required may change based on the constitution of your business and the type of GST registration you are seeking.
GST Registration is a two-step process. A Temporary Registration Number can be generated without submitting documents. step-by-step guide to get your registered in the GST portal.
The GST Regime mandates every person/business with an annual turnover of Rs. 40 lakhs or more, to register as a normal taxable person.
Composition Scheme is a simple and easy scheme under GST for small taxpayers. The composition scheme is available only for taxpayers whose turnover is less than Rs. 1.5crores.
This article will help you to decide what to look forward to as Composite Dealers/Composite Taxpayers.
The taxpayers and the GST authorities have had multiple encounters with such technical glitches, which has led to erroneous or missed filings. Thus, in order to address such issues on the GST portal, an IT-Grievance Redressal Mechanism was introduced in April 2018.
Understanding genuine hardship to taxpayers, CBIC has issued a Circular No. 110/29/2019 – GST dated 3rd October 2019, wherein it provided an option to re-file refund application if taxpayer has inadvertently filed NIL GST refund application.
