Government likely to bring GST frauds under PMLA The government is likely to bring cases of Goods and Services Tax (GST) frauds under the stringent Prevention of Money Laundering Act by making it a predicate offence punishable with rigorous imprisonment and fine. The proposal to bring GST violations under the ambit of Prevention of Money… Read More »
The Central Board of Direct Taxes (CBDT) has issued Guidelines for Compounding of Offences under Direct Tax Laws, 2019 in supersession of earlier Guidelines dated 23-12-2014 These Guidelines shall come into effect from 17.06.2019 and shall be applicable to all applications for compounding received on or after the aforesaid date. F.No. 285/08/2014-IT(Inv.V)/147 Government of India Ministry… Read More »
Issues reported in filing Form GSTR 9 by the taxpayers: Steps to be taken 14/06/2019 Taxpayers have reported some issues in filing their Form GSTR 9, which are clarified below: 1. Some taxpayers have reported that figures of Input Tax Credit (ITC), as pre-populated in table 8A of Form GSTR-9, do not match with the… Read More »
Issues reported in filing Form GSTR 9C by the taxpayers : Steps to be taken Taxpayers have reported some issues in filing their Form GSTR 9C, which are clarified below: Turnover for filing Form GSTR- 9C: Form GSTR-9C is to be filed by all those taxpayers whose aggregate turnover has exceeded Rs 2 crore in… Read More »
RBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 June 11, 2019 The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS and / or NEFT Madam / Sir National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems – Waiver of charges Please refer to paragraph No. 8 of the Second… Read More »
The income tax department has announced that the ITR-5 for filing this year would be updated soon to compute long term capital gain on the sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid. “In case of long term capital gains (LTCG) arising on… Read More »
Students’ Guide to Income Tax Including GST (60th Edition 2019-20) by Dr. Vinod K Singhania (Author), Dr. Monica Singhania (Author) For CA Intermediate May / November 2019, CMA June/December 2019, CS (Executive) June/December 2019 and B.Com., M.Com., MBA, & Other Professional Examinations Price Rs 1200 Click here to buy online Paperback: 936 pages Publisher: Taxmann; 60th Edition edition (2018) Refer Other… Read More »
GST Audit Checklist we have compiled GST Audit Checklist Area wise working / checklist for annual return and GST audit in respect of GST Registration, Invoicing Documentation, Goods Sent To Job Work, Supply of Goods & Services, Time Of Supply, Input Tax Credit, Input Tax Service Distributor, Classification Of Goods & Services, GST Returns, GST Collections… Read More »
GSTR 9 Annual Return Problems Solved by GSTN समस्याओं का हल
Ministry of Labour & Employment Government Reduces the Rate of ESI Contribution from 6.5% to 4% Posted On: 13 JUN 2019 The Government of India has taken a historic decision to reduce the rate ofcontribution under the ESI Act from 6.5% to 4%(employers’ contribution beingreduced from 4.75% to 3.25% and employees’ contribution beingreducedfrom 1.75% to 0.75%). Reduced… Read More »