Here’s the Compliance Calendar for the year 2020 with all the due dates regarding the updated GST Returns and also due dates for income tax returns.
From March 1 onwards, a 28% Goods and Service Tax i.e. GST will be levied on all the lotteries. It has been imposed on all the state-run and authorised lotteries!
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.
Clearing the fog about a major misconception surrounding the E-invoice generation, it is not mandatory for a taxpayer to generate E-invoice through the government’s tax portal.
We have covered how an appellant can raise an application to a higher court/authority for the reversal or revision of an order, as passed by a lower court/authority.
The supply goods and/or services is done under bond or LUT, without payment of IGST. In such scenario, the exporter can claim a GST refunds on export of the unutilized ITC available for CGST, SGST and IGST.
Return RET-1 has a total of 9 tables, out of which in this article we will focus on table 4 in detail. Kindly note table 3 is already detailed in our previous articles GST Form RET 3.
With ICEGate, the user can make E-payments, Track Document status at Customs EDI, Register for IPR, Verify IE Code, etc. making it an essential tool for traders and exporters in India.
The integration of GST EWay Bill with FASTag, envisaged in January 2019 with the revenue department setting up an officers committee to integrate e-way bill, FASTag and Delhi-Mumbai Industrial Corridor’s (DMIC’s) Logistics Data Bank (LDB) services, finally came into effect last week.
E-invoicing model has been adopted by many countries globally with varying implementation models. The Indian adoption consists of following components.
GSTR 3B is a monthly self-declaration form that a taxpayer is required to file on a monthly basis. Form GSTR 3b consists of summarized details of supplies made during the month along with the details of paid taxes, ITC claimed, purchases under reverse charge mechanism, etc.
With the global trade becoming a norm, there has been a dramatic change in the cross border trade in recent years.
