NEW INCOME TAX RETURN FOR AY 2018-19 These ITR Forms are notified every year by the Central Board of Direct Taxes (CBDT). At the start of new Financial Year, the CBDT has released the new Income-tax return (ITR) Forms for the Assessment Year (AY) 2018-19. These ITR Forms will be applicable to file income-tax returns […]
ITR-4 : INCOME TAX RETURN FORM FOR PRESUMTIVE BUSINESS – AY 2018-2019 About 40 days since the commencement of new Financial Year , Income Tax Department has released the online utility for much awaited FORM ITR 4 – For Presumptive Income from Business and Profession and is available for download at the Income Tax E-filing […]
BLOCKED CREDITS IN GST U/S 17(5) OF GST ACT (a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely:—(A) further supply of such motor vehicles; or(B) transportation of passengers; or(C) imparting training on […]
ANNUAL RETURN GSTR-9 – Provisions in GST Act (1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an ANNUAL RETURN (GSTR-9) for every financial year electronically in such form and manner as may […]
RCM ADJUSTMENT ENTRIES IN GST Reverse charging mechanism is a procedural way of discharging tax liabilities and formalities by buyer of services or goods or both instead of seller.The RCM adjustment entries are discussed below. For example, a transaction will be considered as reverse charge if tax is payable by buyer instead of seller. GST reverse charging […]