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Faceless Assessments under Customs from 1st November,2020
By 31st October 2020 the faceless assessment process will be implemented in all the custom ports under the next generational Turant Customs programme
New Standards on Forensic Auditing
ICAI is working to develop the standards for forensic accounting and investigation (FAIS). These are expected to be completed by December 2020.
14 Reasons Why your GST registration may be suspended
The article lists 14 Reasons why your GST registration may be suspended, as per the latest notifications and circulars issued by CBIC.
Beware of Suspension of GST Registration
The CGST Amendment Act introduced Suspension of Registration by inserting a proviso to Section 29 (2) of the CGST Act, 2017 effective from 01.02.2019. Let us understand why taxpayers must beware of this.
Composition Scheme under GST- Is it really beneficial?
Taxpayers eligible for composition scheme opt for it for the reason of lesser GST compliances but miss out on other important factors and consideration which have significant impact on their business.
Relaxed AEO accreditation for MSMEs - Relaxations in requirements
In this article, an attempt is made to explain the modified requirements to enable MSMEs to avail the benefits of Authorized Economic Operator ( AEO) scheme.
Auto population of E-invoice in GSTR 1
In this article, we discuss the important points and updates that are to be noted by taxpayers who had started e-invoicing from 1-10-2020 and whose auto-population of e-invoice data into GSTR-1 had started from 3rd December 2020.
Welcome 2021 - Welcome Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme Launched and has come into effect from 1st January 2021. This scheme will replace the existing MEIS scheme.
Recent Changes in GST Rules - Impact and Actions needed
In this article, an attempt is made to discuss the recent changes in the GST Rules, and their impact on the taxpayers along with actions that taxpayers would need to take, to comply with the said changes.
How to Report TCS under Income Tax in GSTR1?
TCS u/s 206C(1H) has been implemented from 1.10.2020. However, a question is arising as to how this TCS in the Tax invoice should be reported in GSTR1 under GST.
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