penalty for late payment of vat

News

Reduced Liability of Tax on complex, building, flat etc under GST


The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12 in respect of under construction flats complex etc the people who have booked flats and made part payment are being asked to make entire payment before 1st July 2017 or to face hi

Carry Forward of unavailed Cenvat Credit for natural resources


Carry Forward of unavailed Cenvat Credit in respect of assignment of right to use any natural resource under GST Cenvat Credit Rules amended so as to provide that Cenvat credit in respect of such services which remains unavailed on the day immediately preceding the appointed day may be availed of in

IGST Exemptions approved by the GST Council


IGST Exemption under GST As per discussions in the 16thGST Council Meeting held on 11thJune 2017 I Bilateral Commitments Imports under Agreement between India and Pakistan Bangladesh for regulation of Bus Service SNo Notification Gist of the notification 1 No 4 99 Customs dated 08 01 1999 1 Passenge

India signs measures to Prevent Base Erosion and Profit Shifting(BEPS) in Paris


India signs the Multilateral Convention to implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting BEPS in Paris today The Union Minister of Finance Defence and Corporate Affairs Shri Arun Jaitley signed the Multilateral Convention to Implement Tax Treaty Related Measures t

Permitting members to act as Insolvency Professional


Announcement Permitting members to act as Insolvency Professional under the Insolvency and Bankruptcy Code 2016 and related matters Pursuant to Section 2 2 iv of the Chartered Accountants Act 1949 the Council of the Institute has decided to include acting as Insolvency Professional under Management

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Experts Opinions

Accumulated ITC


please tell me the treatment for accumulated ITC after the end of financial year 31stMarch 2018 whether it s carried forward for next financial year under GST regime it will be lapsed

Disclosure requirement in schedule iii related to sbn


Hi Experts We have a doubt related to Specified Bank Notes SBN disclosure in balance sheet as per schedule III of Companies Act 2013 Could you please explain the meaning of the terms permitted receipts and permitted payments in relation to SBNs and other currency notes Thanks in advance

Normal dealer in dvat to composition dealer in gst


DEAR ALL TRANSITION FROM NORMAL DEALER IN DVAT TO COMPOSITION DEALER IN GST When a taxpayer is shifting from a normal scheme to composition scheme the taxpayer has to pay an amount which shall be equal to the credit of input tax in respect to those inputs which are held as stock on the immediately p

Cenvat credit


Dear sir How can we get credit of excise duty charged as cenvat 60 per sq mtr in bill of marble slab purchase Please explain

Gst payment


under the GST Era can the consulatnt make the payment for GSt due on behalf of Taxable person from his account

Discussion

gst rate on cake, celebration chocolate

plz defined gst rate on cake chocolate

Cenvat credit for an importer

IF an importer have CVD BED NOW he can avail cenvat credit under this act but under which section he can avail cenvat credit

cenvat on stock

I have credit balance of rupees 1000 in my VAT return file as on 30th June 2017 but in actual I have stock of rupees 50 lakh and vat thereon comes to rupees 2 lakh 4 now what amount should I get as a cenvat credit

VAT COMPOSITION

HI WE ARE REGISTERED UNDER VAT COMPOSITION SCHEME AND ACCORDINGLY WE CAN T AVAIL INPUT TAX ON PURCHASE BUT WE HAVE SOME STOCK ON WHICH WE HAD PAID VAT AND UNDER GST WE ARE AVAILING NORMAL SCHEME CAN WE CLAIM INPUT CREDIT ON STOCK LYING WITH US

Repayment Of Loan Deduction

I have a query Suppose an individual has taken joint loan in his name and name of spouse for a joint house that too is co owned The deduction of loan will be allowed 50 50 Can anyone out of co owners claim higher amount to reduce tax burden

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File Download

  • GST Tax Invoice / Bill Format in Excel

    To View Videos related to GST Formats detailed discussion click on the link below https youtu be g3vEiwjIL Y https www youtube com playlist list PLtTiiMHFoGlWKr5kDr9o8a mjK2weiNPm https www youtube com playlist list PLtTiiMHFoGlXbR W56GhJxEob0aJfcSOJ GST TAX INVOICE in EXCEL GREEN HIGHLIGHTED are Compulsory YELLOW one are optional
  • Checkmate for Non-Payment

    Checkmate for Non Payment to Supplier after Time Limit INPUT TAX CREDIT REVERSED
  • Miscellaneous Transitional Provisions - Detailed Analysis

    To watch related Video https youtu be rNEMGg7zEZs https youtu be ruPoM3ZcLY4 https youtu be y5iOt X4f5w https youtu be kbsRHPGqSEk Section 142 1 Goods Returned after Appointed Date Section 142 2 PRICE Revision Section 142 3 REFUND CLAIM Filed under Existing Law Section 142 4 REFUND CLAIM Filed under Existing Law for Export Section 142 5 Tax Paid before Appointed Date Services not provided Section 142 6 proceeding of appeal review or reference relating to a claim for CENVAT credit under Existing Law Section 142 7 proceeding of appeal review or reference relating to any output duty or tax liability initiated Section 142 8 assessment or adjudication proceedings instituted whether before on or after the appointed day under the existing law Section 142 9 return furnished under the existing law Section 142 10 Contract entered earlier Section 142 11 Tax leviable under Existing Law Section 142 12 Goods sent on Approval Basis in Previous law Section 142 13 TDS liability under Existing Law Detailed Analysis of Section 142
  • Deferred Tax impact of Borrowing cost & Forex fluctuations

    This article discusses the accounting and income tax treatment of borrowing cost forex fluctuations related to acquisition of capital assets and the Deferred Tax impacts related to the same
  • RERA Act

    file contains the Important provions related to RERA Act Practicing CA has opportunities under new act

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Articles

Payment of tax, interest, penalty and other amounts under GST


Payment of tax interest penalty and other amounts under GST in 10 points 1 In the GST regime for any intra state supply taxes to be paid are the Central GST CGST going into the account of the Central Government and the State UT GST SGST going into the account of the concerned State Government For an


Carry forward of Cenvat credit on goods held in stock on appointed day


How to carry forward Cenvat Input Vat Entry tax on goods held in stock on an appointed day by existing registered Assessee to GST in 10 points 1 A registered person other than a person opting to pay tax under composition scheme shall be entitled to take credit in his electronic credit ledger the amo


Transitional Provisions relating to Credit of unavailed Cenvat credit in capital goods


As per section 140 2 of the GST Act company shall be allowed to carry forward the unavailed CENVAT credit on capital goods not carried forward in return for the period immediately preceding the appointed date The credit on capital goods shall be allowed only when it is allowable under existing law a


Start up India Program - Latest professional opportunity


Let us Educate ourselves about Start Up India Program support newentrepreneurs of the country who are equipped with New Business Ideas Technology Innovations a Glimpse of Program Start up India initiative is designed to foster innovation create jobs and facilitates investment Government of India is


Payment of tax under GST


PAYMENT OF TAX UNDER GST In this article we will discuss how the liabilities of a person will be adjusted by using different type of register Ledgers For the payment of taxes under GSTfollowing ledger or register will be maintained 1 Electronic Cash Ledger 2 Electronic Credit Ledger 3 Electronic Lia


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Updated on : 6/20/2017 1:41:15 AM


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