September 2020 is considered to be a significant month for any Financial Year as it includes major compliances under the Goods & Services Act.
The government has launched form GSTR 2B for the Input Tax Credit. The form will help the government as well as the assessees in matching the input and output of ITC in forms GSTR 3B, GSTR-1, and GSTR 2A, accordingly.
Recently GSTN has rolled out few enhancements on the GSTN portal for the benefit of taxpayers.
Section 2(68) of the CGST Act, 2017 defines job work to mean as 'any treatment or process undertaken by a person on goods belonging to another registered person'.
GSTR-2B is going to be such an auto-drafted ITC statement , which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, GSTR-5 and GSTR-6 .
IEC Code contains a 10 digit number issued by the DGFT, Department of Commerce and Government of India. IEC Code is the same as the PAN of the firm.
Equalisation Levy was introduced in India in 2016 via Chapter VIII of the Finance Act 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India.
As per Section 2(m) of the Limited Liability Partnership Act, a foreign LLP is a limited liability partnership formed, incorporated or registered outside India; which establishes a place of business in India.
Know the tax implications on Joint Development Agreement under provisions of GST and Income Tax
Here comes a million-dollar question! What happens to these investments after the death of the persons who own/inherit such as investment or properties?
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
