Articles by CA Santhosh Gupta Kethepalli

What is E way bill under GST?

CA Santhosh Gupta Kethepalli 23 July 2020 at 09:51

E Way Bill is Mandatory in a case where the goods are being sent by a Principal located in one state to a Job worker located in any other state, the E Way Bill shall be generated by the principal irrespective of the value of the Consignment.

Special provisions for computing profits from plying, hiring or leasing goods carriage

CA Santhosh Gupta Kethepalli 16 July 2020 at 12:56

Section 44AE provides for estimating the business income of an owner of goods carriages from the plying, hire or leasing of such goods carriages.

Blocked Credit Sec.17(5) of CGST Act, 2017

CA Santhosh Gupta Kethepalli 13 July 2020 at 09:34

Input tax credit is not available in respect of certain inward supply of goods or services as per Section 17(5) of the CGST Act, 2017 this is called blocked ITC.

Composition Scheme: Sec.10 of CGST Act, 2017

CA Santhosh Gupta Kethepalli 09 July 2020 at 09:39

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.

Statement of Financial Transaction or Reportable Account- Sec 285BA of IT Act

CA Santhosh Gupta Kethepalli 07 July 2020 at 17:50

Obligation to furnish statement of financial transaction or reportable account {Sec - 285BA, Income-tax Act, 1961

Equalisation Levy in Income Tax Act, 1961

CA Santhosh Gupta Kethepalli 06 July 2020 at 11:47

Transformation by CBDT from Taxing Business Income to Business Transactions

GST Registration: Eligibility and Procedure

CA Santhosh Gupta Kethepalli 03 July 2020 at 10:55

Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category States, from where he makes a taxable supply of goods or services or both.

Measures to discourage Cash Transactions and to promote Digital Economy by CBDT

CA Santhosh Gupta Kethepalli 02 July 2020 at 10:33

Sections 269SS and 269T which deals with cash payment and repayment of loans and deposits. Both the sections were introduced to curb the black money. Tax evasion is one of the serious problems in India causing economic disparities.