Cancellation of Over the Counter (OTC) Challan FAQs > Cancellation of Over the Counter (OTC) Challan 1. Can I cancel a OTC Challan? Yes, you can cancel a OTC Challan which is not paid from the Challan History. Navigate to Services > Payments > Challan History to cancel such OTC Challan. 2. Can I do payment for a Cancelled… Read More »
Announcement Exposure Draft of Amendments in Ind AS XBRL Taxonomy (Comments to be provided by 30th December, 2018) Ministry of Corporate Affairs (MCA) has mandated the filing of financial statements in XBRL format for the specified class of companies. XBRL taxonomy covers the requirements of Accounting Standards, Companies Act and MCA specific requirements. XBRL taxonomy,… Read More »
In case of Multi Location entities, what should be the specific area of examination under GST ? Ans. Audit of Multi Location entities would require examination (among others) of the following: i) Cost incurred commonly at or by the Head Office – E.g. Marketing and Brand Building Costs; ii) Head Office providing support to Branches… Read More »
Company Law Manual – A Compendium of Companies Act 2013 along with Relevant Rules (11th Edition 2019) Paperback – 2018 by Taxmann (Author) to Buy Click here Price Rs 2148 Description As amended by Companies (Amdt.) Ordinance 2018 Incorporating Annotated text of Companies Act 2013 [As Amended by Companies (Amdt.) Ordinance 2018] & Rules framed thereunder Text of Relevant… Read More »
Examples of Deemed Supply under GST Schedule I of CGST Act 2017 covers transactions which can be treated as deemed supply under GST and GST is required to be paid .Examples are as follow :- Transfer of machinery from Agra Branch to Bengaluru Branch without consideration for indefinite usage in production activity is a… Read More »
Insolvency and Bankruptcy Law Digest (May 2018 Edition)Paperback – 15 May 2018 by Taxmann (Author) to Buy Click here Price Rs 768 Paperback: 600 pages Publisher: Taxmann (15 May 2018)
What are the consequences of the failure in submitting the annual return and not getting the accounts audited? Ans. The following are the consequences of the failure in submitting the annual return and not getting the accounts audited: a) Section 44(2) of the CGST Act and State /Union Territory GST Act provides that every Registered… Read More »
Utilization of Electronic Cash and Input Tax Credit (ITC) Ledger 1. After submitting the GSTR-3B return, I was trying to make payment of the tax and was trying to offset my liability from the Electronic Cash Ledger; however I faced error. On what basis can I utilize the balance in Electronic Cash ledger? The utilization… Read More »
Product Leavened Flatbreads such as Naan, Kukha and Chalupa are not covered by the expression ‘bread’ as mentioned under Entry No. 97 of Notification No. 2/2017-Integrated Tax (Rate), dated 28-6-2017, Notification No. 2/2017-Central Tax (Rate), dated 28-6-2017 and Notification No. 2/2017-State Tax (Rate) No. MGST1017/C.R. 103(1)/Taxation-1, dated 29-6-2017 (collectively referred to as ‘Exemption Notifications), but… Read More »
The Applicant would be liable to pay GST on the value of commission received from website users/Pundits not for on total amount received AUTHORITY FOR ADVANCE RULINGS, MAHARASHTRA Sadashiv Anajee Shete, In re B.V. BORHADE AND PANKAJ KUMAR, MEMBER ORDER NO. GST-ARA-32/2018-19/B-131 OCTOBER 23, 2018 Download Ruling Click here Related Post GST Judgments