GST was claimed to be a Good and Simple Tax for taxpayers. However, is the scenario same now? In this article, we highlight some of the provisions which have forced GST to not be Good and Simple anymore.
Taxation of Bitcoins - Income Tax, GST, Tax Havens, Income Tax Return Disclosure and Country Wise Analysis of Tax Structure.
FORM GST DRC-03 is a digital intimation of payment made by the taxpayer voluntarily or made against show cause notice issued by the department or in adherence to section 142(2) and 142(3) of CGST Rules 2017.
The GST Council, in their 42nd Meet on 5th October 2020 proposed a quarterly return filing system for small taxpayers to be implemented w.e.f. 1st January 2021.
Recently, Union Budget 2021 has proposed to omit the provision of section 35(5) and amend section 44 of the CGST Act, 2017. After acceptance of the bill by the President of India, GST Audit will not be required.
Discussing the detention, seizure and release of goods and conveyances in transit under GST as per Section 129, together with the changes in the section post Budget 2021.
At the present Sec. 16 of the IGST Act deals with zero rated supplies under GST. The Finance bill 2021 has proposed some changes in section 16 and the same is produced in this article.
Amendment proposed in CGST & IGST Act, 2017 as per the Union Budget 2021, and its Impact on professionals and Taxpayers of the country.
The ITC available in the electronic credit ledger could always be fully utilised for discharging the output tax liability. The new Rule 86B has limited the use of ITC balance for paying its output tax liability.
The QRMP Scheme states that a GST registered person, whose turnover is less than 5 crore rupees, is eligible to file the return on a quarterly basis, but has to make the payment on a monthly basis.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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