272 ViewsSource : Press Release -Posted On: 31 JAN 2022 7:51PM by PIB Delhi The gross GST revenue collected in the month of January 2022 till 3PM on 31.01.2022 is Rs 1,38,394 crore of which CGST is Rs 24,674 crore, SGST is Rs 32,016 crore, IGST is Rs 72,030 crore (including Rs 35,181 crore collected on import of goods) and cess is Rs 9,674 crore […]
Analysis of Hon’ble Gujarat High Court decision in the case of Arcelor Mittal Nippon Steel Ltd. vs. Asstt. Commissioner-2021-TIOL-2259-HC-AHM-GST
234 Views Dear Readers, Given below is the gist of a recent judicial ruling on the various issues arising under the GST Laws: 1. Arcelor Mittal Nippon Steel Ltd. vs. Asstt. Commissioner -2021-TIOL-2259-HC-AHM-GST [Date of Decision: 24.11.2021] Issue involved: Whether the rejection of refund claim is legal and valid when the show cause notice […]
Guidance Notes on – GST Audit under Sec.65 read with Rule 101 and Sec.66 Read with 102 of Goods and Services Tax Act,2017 Part-1
204 ViewsBy, B. S. Seethapathi Rao , Tax Consultant, Kakinada. Dated.12.01.2022. Dear Colleagues, Good day to you. I have received suggestions to prepare “Guidance Notes on “ GST Audit under Sec.65 read with Rule 101 and Sec.66 Read with 102 of Goods and Services Tax Act,2017”. I have prepare these guidance notes on the topics […]
Union Budget 2022-23 to be presented on 1st February, 2022 in Paperless form
353 ViewsSource : Press Release dated 27.01.2022. To mark the final stage of the Union Budget making process, sweets were provided to the core staff due to undergo “lock-in” at their workplaces, instead of a customary Halwa ceremony every year in view of the prevailing pandemic situation and the need to observe health safety protocols. […]
AVAILABILITY OF AUDIT REPORTS AND PROCESS FLOW STEPS IN e-FILING 2.0 – Process Flow for Audit Reports
224 ViewsSource: Income Tax Website A. PROCESS FLOWFor all Audit Forms except Form 15CB and Form 10CCB B. PROCESS FLOWApplicable for Form 15CB and Form 10CCB C. LIST OF AUDIT REPORTS Link
Income Tax Statutory Forms & related Services – FAQs
414 ViewsSource : Income Tax website Forms & Functionalities Tax Audit Report (Form 3CA-CB/ Form 3CB-CD)……………………………………………………………………………2Form 10 B………………………………………………………………………………………………………………………………..2Form 29B…………………………………………………………………………………………………………………………………2Form 10DA ………………………………………………………………………………………………………………………………3Form 56F …………………………………………………………………………………………………………………………………3Form 10E …………………………………………………………………………………………………………………………………3Form 10-IE……………………………………………………………………………………………………………………………….4Form 67…………………………………………………………………………………………………………………………………..5Form 10BA……………………………………………………………………………………………………………………………….5Form 35…………………………………………………………………………………………………………………………………..5Form 10-IC……………………………………………………………………………………………………………………………….5Form 10-IB & 10-ID …………………………………………………………………………………………………………………..6 Tax Audit Report (Form 3CA-CB/ Form 3CB-CD) FAQ 1: While submitting Form 3CB-3CD, “Unique Document Identification Number (UDIN)” page is displayed. […]
Deployment of Interest Calculator in GSTR-3B
202 Views The new functionality of interest calculator in GSTR-3B is now live on the GST Poral. This functionality will facilitate & assist the taxpayers in doing self-assessment. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers, along with the details about the […]
E-Invoice & E-Way Bill in Retail Trade
295 ViewsAuthored by CA Akshay Hiregange Introduction Any large retail trader (goods) falling within the turnover range of Rs. 50-500 crore (or more) would have to comply with the following: ♦ Real time E-invoice instead of tax invoice (B2B, SEZ) ♦ Real time E-invoice – credit note/debit note (B2B, SEZ) ♦ Tax invoice (B2C) ♦ […]
MANDATORY PRE-DEPOSIT FOR FILING AN APPEAL UNDER GST LAWS
273 ViewsBy Ramesh Chandra Jena, B.A. (Hons.), M.A. (Eco.), D.M.M., LL.B., ADVOCATE & TAX CONSULTANT The pre-deposit means certain amount of demand of tax to be deposited by appellant prior to filing of an appeal before the Appellate Authorities. The Provision of pre-deposit is not a new concept under tax laws as it was prevailing […]
Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg.
272 ViewsCircular No. 01/2022 F. No. 225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, dated 11th January 2022 Subject: – Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg. On consideration of difficulties reported by the taxpayers and other stakeholders […]