Features of Making Payment on Voluntary Basis (Form GST DRC-03) on GST Portal
Making Voluntary Payment on GST Portal: A facility is given to taxpayers to make payment on voluntary basis, through Form GST DRC-03 (refer Rule 142(2) or 142(3) of the CGST Rules, 2017). Login into GST Portal and navigate to Services > User Services > My Applications and Select the Inti... Click to read full article

Suresh Paramasivam 15/11/2019 under GST

Steps to be taken by taxpayers to file GSTR 9C
Steps for filing GSTR-9C are as follow: 1. Digital Signature Certificate (DSC)     * Digital Signature Certificate (DSC) must be PAN based          * DSC must not be corrupted.          * DSC should be valid and ... Click to read full article

Suresh Paramasivam 30/10/2019 under GST

GST PMT-08 Form
The New Form GST PMT-08 is used to make payment of self-assessed tax by all taxpayers under the new simplified GST returns. This form shall be used every month thereby replacing GSTR-3B for declaring and paying the monthly tax liability and claiming the eligible input tax credit. PMT-08 form a... Click to read full article

Tax and Law practitioners 18/08/2019 under GST

Compulsory to File GSTR 9?
GSTR 9 Annual Return for Turnover less than 2 Crore, is optional, and if taxpayer chose not to filed before 30th November it would be deemed to filed on due date. It means if you chose not to file annual return within due date for the reason that your turnover was below 2 crore, it will be pre... Click to read full article

Sonu Chimnani 13/10/2019 under GST

Tax Invoice, Debit and Credit Notes
Tax invoice.- Subject to rule 54, a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, namely,- (1) Name, Address and Goods and Services Tax Identification Number of the supplier; (2) a consecutive serial number not exceed... Click to read full article

Suresh Paramasivam 24/07/2019 under GST

A taxpayer whose turnover is below Rs 1.5 crore can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh. Before making a decision to choose a composition scheme, it is necessary that The following conditions must be satisfied in order ... Click to read full article

Manoj Agarwal 11/04/2019 under GST

Decoding GST Number
GST Number or GSTIN is a 15 digit identity given to business and service providers registered under GST (Goods and Services Tax). Every registered person is issued a valid GST Number to comply with GST laws. GST Number is public information about any business and one can easily find details of... Click to read full article

Pulkit Sharma 08/04/2019 under GST

Simplified GST Returns Forms: Normal (RET 1), Sahaj (RET 2), Sugam (RET 3)
CBIC has uploaded the amended/ simplified GST Return forms on the GST Portal, i.e. Normal (RET 1), Sahaj (RET 2) and Sugam (RET 3), which are likely to be applicable from 1 July 2019 (2nd quarter of FY 2019-20), in view of the fact that CBIC has already notified the existing GST return forms for ... Click to read full article

Manoj Agarwal 26/03/2019 under GST

Here is some good news for tax-paying businesses in India. 28th GST council meet held on 21st of July 2018 has introduced a simple GST return filing system for the taxpayers. The government has introduced Sahaj and Sugam forms for filing GST returns. In this article, we’ve explained h... Click to read full article

Manoj Agarwal 26/03/2019 under GST

Whether 'tips' received fall within the meaning of "Salaries" to attract TDS under section 192
In the case of ITC Ltd v. CIT (2016) 384 ITR 14, the issue under consideration before the Supreme Court was whether “tips” received by the hotel-company from its customers and distributed to the employees fell within the meaning of “Salaries” to attract tax deduc... Click to read full article

CA Ankit Sharma 16/01/2019 under Income-Tax

Mandatory requirement of furnishing PAN in all TDS statements, bills, vouchers and correspondence between deductor and deductee [Section 206AA] | AY 2019-20 onwards
The non-quoting of PAN by deductees in many cases led to delay in issue of refund on account of problems in the processing of returns of income and in granting credit for tax deducted at source. Applicability With a view to strengthening the PAN mechanism, section 206AA provides that any pe... Click to read full article

CA Ankit Sharma 15/01/2019 under Income-Tax

Furnishing of statements in respect of payment of interest to residents without deduction of tax [Section 206A] | AY 2019-20 onwards
This section casts responsibility on every banking company or co-operative society or public company referred to in the proviso to section 194A(3)(i) to prepare such statements for such period as may be prescribed – if they are responsible for paying to a resident, the payment shoul... Click to read full article

CA Ankit Sharma 15/01/2019 under Income-Tax

Never File Wrong GSTR-1

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