Case Name : Principal Commissioner of Central Tax Vs Supreet Singh Bakshi (Patiala House Courts) Facts of the case : The applicant, Supreet Singh Bakshi (managing the affairs of all three firms) is the proprietor of M/s. Swift Enterprises. Whereas, his father and brother are the …
The GSTR 1 form filing is a mandatory return form under GST. Taxpayers Who Need Not File the GSTR 1: Composition Dealers, Non-resident Taxable Person, Input Service Distributors, Taxpayers liable to deduct TDS, Taxpayers liable to collect TCS, Suppliers of OIDAR (Online Information and Database Access or Retrieval), …
Two traders, Ajay Gopinath Mishra and Ramesh Chandra Bhatt were arrested by The Belapur Central GST Commissionerate. The ground of arrest were fraudulently availing IGST refunds by showing the export of textile goods over Rs 350 crore and collected IGST refund of over Rs 50 crore …
The recent circular issued by the Central Board of Indirect Taxes and Customs (CBIC) clarifies the suppliers who want to opt for composition scheme can opt till 31st July, 2019 (Extended by three months) and eligible to pay tax at the rate of specified rate i.e.6% …
Registration Details Obtain the list of registrations in pre GST regime and ensure migration. Whether registration is obtained in every state from where supply is made? Whether compulsory registration as required u/s. 24 of CGST Act is obtained? Whether the entity was registered as composition dealer …
As the date for filing the GSTR-9 (annual return) and GSTR-9C (Audit report) is getting closer. So, let us know about what should be checked. Following are the Documentation Checklist for commencing GST Audit: Signed State wise Financial Statements. Ledger accounts of all the receipts/expenses/ fixed …
Reconciliation of statements Reconciliation of Books with GST Returns : Reconciliation of outward and inward supply data filed in the GST Returns (transaction wise) with the actual financials should be reconciled. The activity will help in identifying the variance (if any) and to incorporate necessary amendments …
GSTR-9 is the annual return form for normal taxpayers, GSTR-9A is for composition taxpayers, while GSTR-9C is a reconciliation statement. The Union Ministry of Finance has said that businesses need to mention any mismatch in Goods and Services Tax (GST) monthly sales return and outward supply …
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