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[Relief to Taxpayers] New GST Return filing due-dates for flood-affected areas

GST Return Filing Due Dates – Extended The Central Board of Indirect Taxes & Customs (“CBIC”) has issued a Press Release dated August 21, 2018, which extends the due dates for filing of the following GST returns by registered taxpayers in the following areas as per appended table, due to severe floods in Kerala, Mahe … Continue reading [Relief to Taxpayers] New GST Return filing due-dates for flood-affected areas

All about Form DIR-3 KYC: e-Form Filing, Format, Due date and requirements for Directors under Companies Act 2013

Director identification number (DIN) is a unique identification number that is allotted to every Director under the Companies Act 2013. Filing an application in eForm DIR-3 was sufficient to obtain DIN. This was a one-time process for any person who wants to be a director in one or more companies. However, the Ministry of Corporate Affairs … Continue reading All about Form DIR-3 KYC: e-Form Filing, Format, Due date and requirements for Directors under Companies Act 2013

What You Need to Know about the New GSTN Validation Criteria for Tax amount in Sales Invoices?

GSTN introduced new validation criteria for calculating Tax amount of the product line items in sales invoices and other GSTR-1 documents. According to this new validation format provided by the Goods & Services Tax Network (GSTN), you will have to calculate the tax amount of every line item to be rounded up to two digits only.  New … Continue reading What You Need to Know about the New GSTN Validation Criteria for Tax amount in Sales Invoices?

CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

Generally, depreciation is an allowance which is available for persons/entities having income from business or profession. As per the CBDT Notification No. 103/2016, the highest rate of depreciation allowable as per income tax has been restricted to 40% for all assets, which were eligible for depreciation at a rate higher than 40%. The amendment is applicable … Continue reading CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

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How to file returns under GST?

Goods & Services Tax (GST) is a unified indirect tax system. A normal taxpayer needs to file monthly returns and an annual return. You can file the returns using GSTN Portal, Offline utilities provided by GSTN, and GST Suvidha Providers (GSP). GST Return Filing Process Form Name: Form GSTR 1 Who needs to pay: Supplier other than an … Continue reading How to file returns under GST?

List of GST Return Forms with Applicability, Type and Timeline

Under the unified taxation system of Goods & Services Tax (GST), returns are to be filed online through the portal - GST Network. Chapter IX of the Central GST Act, 2017, read with CGST Rules, 2017 contains the provisions of returns to be filed by various taxable persons. Forms Applicability Type Timeline GSTR-1  Every registered … Continue reading List of GST Return Forms with Applicability, Type and Timeline