Tax Updates
Tally ERP 9 Shortcut Keys: – Keyboard shortcut keys are combination of one or more keys to perform a particular task without the help of mouse. In other words, shortcuts keys run a command in tally software as an alternate to mouse clicks. Tally ERP 9 is one of the most used software for the …
GST Refund Zero Rated supplies What is Zero Rated supply: – Zero rated supply is defined under section 16 of IGST act. According to section, all exports (whether of Goods or services or both) and supplies to SEZs (Special Economy Zone) have been defined as Zero Rated supplies. Now, let’s discuss in details on topic …
QRMP Scheme under GST: – QRMP Scheme stands for Quarterly Return Monthly payment scheme. Under QRMP Scheme, registered persons will be required to file GSTR -1 and GSTR -3B on quarterly basis and require paying GST liability on monthly basis. QRMP Scheme Eligibility:- A Registered person having aggregate turnover of upo Rs 5 Crore in …
Udyam Registration procedure – Hi Reader! In this article we learn about the Udyam Registration procedure. Government of India has issued notification on 26th June 2020 regarding Udyam Registration. In the said notification they launched new process of classification and registration of MSME Enterprises under the Name of “Udyam registration”. For Udyam registration, the MSME …
Offences with Fine and penalty under GST Hi Reader! In this article we read about the various types of offences with Fine and penalty under GST. Chapter 19 of CGST Act talks about offences and penalties under the GST law. The chapter covers section from 122 to section 138 detailing about all the offences and …
Job work provisions under GST Hi Readers! In this article we analysis Job work provisions under GST. Before starting, we should have a basis idea about the nature of business which come under the definition of Job work. Definition of Job work: – Job work has been defined under section 2(268) of CGST Act. According …
FTP 2015-2020 extended for one year :- The Union Commerce and Industry Ministry today announced changes in the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1st April, 2015, is for 5 years and has validity upto 31st March, 2020. In view of the unprecedented current situation …
Statutory Due Dates February 2020 Statutory Due Dates February 2020 5th February Extended Due date for GSTR 9 and 9C for F.Y. 2017-18 in respect of states Jammu and Kashmir, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, and Gujarat. 7th February Extended Due date for GSTR 9 and 9C for F.Y. 2017-18 in …
Tax Updates January 2020 – 15.01.2020 1.Possibility of Banks, Telcos, Insurers to get an exemption from GST E-invoices: (a). A possibility is that Banks, airlines, telcos and other entities that have direct customer interaction on a large scale may be exempted from filing their e-invoices under GST; (b). Exemption from e-invoices is benefit to those …
Tax Updates January 2020 – 13.01.2020 1. Income tax rule 10DA and rule 10DB amended by the Central Board of Direct Tax. These amendments will be applicable from 1st April 2020. These rules pertain furnishing of information and maintenance of documents by the Constituent Entity of an international group. For more details Notification No. 03/2020-Income …