Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Offences, Penalties, Prosecution and Compounding Chapter 20 Q 1. What are the prescribed offences under CGST/SGST Act? Ans. The CGST/SGST Act codifies the offences and penalties in Chapter XVI. The Act lists 21 offences in section 122, apart from the penalty prescribed under section 10… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Inspection, Search, Seizure and Arrest Chapter 19 Q 1. What is the meaning of the term “Search”? Ans. As per law dictionary and as noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery to go, look… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Advance Ruling Chapter 17 Q 1. What is the meaning of Advance Ruling? Ans. As per section 95 of CGST/SGST Law and section 12 of UTGST law, ‘advance ruling’ means a decision provided by the authority or the Appellate Authority to an applicant on matters… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Appeals, Review and Revision in GST Chapter 16 Q 1. Whether any person aggrieved by any order or decision passed against him has the right to appeal? Ans. Yes. Any person aggrieved by any order or decision passed under the GST Act(s) has the right… Read More »
Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Demands and Recovery Chapter 15 Q 1. Which are the applicable sections for the purpose of recovery of tax short paid or not paid or amount erroneously refunded or input tax credit wrongly availed or utilized? Ans. Section 73 deals with the cases where there… Read More »
Need More Time to Pay Taxes? All taxpayers should file on time, even if they can’t pay what they owe. This saves them from potentially paying a failure to file penalty. Taxes are due by the original due date of the return. Here are four tips for those who can’t pay their taxes in full… Read More »
Issue Number: RP-2017-31 Inside This Issue Rev. Proc. 207-31 updates Rev. Proc. 2016-56 (published in December 2016) to add countries to the list of countries set forth in Section 4 of Rev. Proc. 2014-64. Section 4 lists the countries with which the Treasury Department and the IRS have determined that it is appropriate to have an… Read More »
IRS Reminder to Taxpayers Who Haven’t Filed 2013 Returns: Time is Running Out; Agency has $1 Billion in Refunds IRS YouTube Videos: Refund: Claim It or Lose It – English |Spanish | ASL WASHINGTON — The Internal Revenue Service reminded taxpayers today that unclaimed federal income tax refunds totaling more than $1 billion may be… Read More »
Avoid Common Tax-Filing Errors; IRS Encourages e-filing, Careful Review WASHINGTON — As the April 18 income tax filing deadline approaches, millions of taxpayers may be rushing to complete their taxes and many may realize they’re going to need more time. The IRS encourages taxpayers to take extra time to complete their tax return if needed.… Read More »