Crypto and Indian Taxation System
Direct Tax: Following amendments relating to crypto has been introduced in the Union Budget 2022: Section 2(47A): - has been introduced which defines 'virtual digital asset. NFT’s are also included…
GST-2 (Registration Requirement under GST and decoding GST Number)
GST Registration is compulsory irrespective of turnover in the following cases: - Persons making interstate supplies of taxable servicesReceipt of services on which RCM (Reverse charge Mechanism) is payable.Non-resident not…
Advance tax – A brief analysis
Also, known as pay as you earn tax. It is the tax paid in advance instead of paying lumpsum at the year end.Advance tax must be paid when you earn…
New IT Form – ITR-U. Allows to file previous year’s returns.
It is Notified on 29 April 2022For Filling updated return of income relating to the assessment year commencing on the ist April 2020 and Subsequent assessment years. i.e. from financial…
Important for all GST tax payers
The govt. has made changes in GST system with effect from From 1st January 2022: 1. The GSTR 1 cannot be filed, if the previous period GSTR 3B is not filed.…
Uber ने दिल्ली हाई कोर्ट में ऑटो यात्रा पर GST ना लगाने के लिए गुहार लगाई।
Uber जो की एक ऑनलाइन टैक्सी सेवा का माध्यम है। Uber ने कोर्ट में अब दरख्वास्त की है की ऑनलाइन बुक की गयी ऑटो यात्रा पर GST ना वसूला जाए।…
कोर्ट ने एक बहुत ही महत्त्वपूर्ण निर्णय पारित किया।
9 दिसंबर को कोर्ट ने एक बहुत ही महत्त्वपूर्ण निर्णय पारित किया।सेक्शन 68 के तहत पिछले साल का दिखाया हुआ लोन अगले साल व्यक्ति की इनकम यानि की आय में…
Telangana High Court: GST Demand cannot be raised if the case is still in progress.
Now in a new ruling, the Telangana High court has said that no GST Demand should be raised if the case is still going on. The petitioner, M/S Deem Distributors…
Details of Previous financial year’s ITC (UNCLAIMED) can be shown in table 4(A) of GSTR3B, if you wish to avail that ITC in returns of April to September 2021.
The Central Board of Indirect Taxes and Customs (CBIC) has made it clear through a notification that if you have received ITC on goods and services in previous FY and…
Government provides freedom from GST Audit: August 1st onwards: CBIC [Read Notification]
The CBIC (Central Board of Indirect taxes and Customs) has announced that there will be no GST Audit requirement from August 1, 2021 Now businesses don’t require a CA. Businesses…