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Reconciliation under GST- 11 Essential Points to note before the Annual GST Audit! Form GSTR-9C is one of the two annual return forms that businesses with a turnover of more than Rs. 2 Crores need to file at the end of each financial year. Although the dates of filing this return have extended over the [...]

HC of Delhi gave an important judgment, The system limitations cannot be a justification to deny the relief, to which the Petitioner is legally entitled. Facts of the Case Assessee made exports in months of July and August, 2017, but it could not use and exploit input tax credit to the tune of INR 3.05 crores, which was accumulated […]

Rates of TDS applicable for Financial Year 2020-21 Assessment Year 2021-22 w.e.f 14th May 2020 Nature of Payment Basic Cut off (Rs.) Individuals /Company and others New Rate %) Individuals /Company and others (Old Rate %) If No Pan or Invalid PAN (Rate %) 192 – Salaries Slab Rate Slab Rates Slab Rates 22.5% 192A- […]

GST Return filing date extended, relief from late fee, penalties Act / Law Particulars/ Return Actual Due Date Extended due date Remarks 1 GSTR3B (Turnover less than 1.50 crores) Feb Month return 20th of subsequent 30th June, 2020 Both Interest and Late fee waived only if filed before the extended due date March Month return […]

Changes in the interest rate and Penalty waive off late fee for the taxpayers: CBIC has issued Notifications on dated 3rd April, 2020 S. No. Forms Class of registered Person Rate of Interest Late fee Tax period Condition 1 FORM GSTR-3B Taxpayers having an aggregate turnover of more than INR 5 crores in the preceeding […]