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FAQs on Eway Bill (2018)
All the registered persons under GST shall also register on the portal of e-way bill namely: http://ewaybill.nic.in using his GSTIN. Once GSTIN is entered, the system sends the OTP to his registered mobile number and after authenticating the same, the system enables him to generate his/her username and password for the e-way bill system. After…
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Goods & Service Tax ( GST ) Audit – 2018
Every registered entity whose aggregate turnover during a financial year exceeds Rs. 2.00 crore has to get its accounts audited as the provisions of GST Act. Such person has to furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.
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Revised Proforma for Income Tax Notice under the E-Assessment Regime
The CBDT Instruction No. 01/2018, dated 12-02-2018 has mandated that except for search related assessments and exceptional circumstance mentioned therein all other pending scrutiny assessment cases shall be conducted only through the E-Proceedings functionality in ITBA/Efiling
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Levy of DDT on Deemed Dividend u/s 2(22)(e): Will it give rise to Double Taxation?
The Finance Bill 2018, has proposed to cover deemed dividend u/s 2(22)(e) of Income Tax Act, also for levy of dividend distribution tax @ 30%,in the hands of a closely held company paying such deemed dividends. As per the existing provisions in Finance Act, 2017, deemed dividends are taxable in the hands of recipient as…
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26th GST Council Meet: Major Decisions Were Taken
Date: 11/03/2018 Return filing deferred: The present system of filing GSTR 3B and GSTR 1 is extended for three months till June 2018 till he new return system is finalized. A new model was discussed extensively and group of ministers on IT has been tasked to finalise the same. Tax exemptions for exporters extended: Available tax exemptions…
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Sec 147 of Income Tax Act- Initiation of reassessment proceedings
Only jurisdictional AO can form reason to believe for purpose of initiation of reassessment proceedings : ITAT
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