GST registered taxpayers can view their GST liabilities and available Input Tax Credit all at one place by logging into the GST common portal. From the dashboard, every taxpayer can access his/her electronic register called the ‘Electronic Liability Register’ and two electronic ledgers called ‘Electronic Cash Ledger’ and ‘Electronic Credit Ledger’. In this article, we … Read moreFORM GST PMT-01
Maintaining accurate books of accounts is very important. Filing of Audit Reports, Income Tax Returns and GST Returns depends extensively on the information available in the books of accounts. With the introduction of GST, the disclosure requirements for indirect taxes paid have been modified. To help our viewers’ understand the intricacies of maintaining books of … Read moreGST Disclosures In Form 3CD
The E-Way Bill (EWB) mechanism was introduced in 2018 to enable the smooth movement of goods for inter-state and intra-state supplies. E-Way Bill is an electronic document generated where there is a supply or return or inward supply of goods from an unregistered person. There are various conditions for generation of E-Way Bills. Refer to … Read moreE-Way Bill Rules For Transhipment Of Goods
In India, Income Tax (IT) is levied on the income of a taxable person based on pre-decided tax rates. Under the Income Tax Act, the word “Person’ can mean: Individual Hindu Undivided Family (HUF) Company Firm Association of Persons (AOP)/Body of Individuals (BOI) Local authority Every artificial juridical person not mentioned above. The rate of … Read moreIncome Tax Rates – AY 2021-22 (FY 2020-21)
E-Way Bill (EWB) is a vital document required while transporting goods valuing more than INR 50,000. This electronic waybill can be generated on the EWB portal by the supplier, Transporter or even the recipient of goods. The supplier/recipient can choose the mode of transport. In our previous articles, we have discussed the EWB provisions applicable … Read moreE-Way Bill For Transportation Of Goods By Roadways
Under the GST provisions, an E-Way Bill (EWB) is required when goods valuing more than INR 50,000 are transported (intra-state/inter-state). This EWB is generally generated by the supplier of goods or the transporter. However, there can be conditions when the customer may have to generate the EWB. In this article, we will explain: Circumstances When … Read moreHow Can Customers Generate E-Way Bills?
E-Way Bill (EWB) was introduced in 2018 under the GST regime to facilitate seamless movement of goods. Under the EWB provisions, when goods valuing more than INR 50,000 are transported (inter-state/intra-state), the transporter has to mandatorily carry a copy of the EWB in most of the cases. The main intention of introducing the concept of … Read moreForm GST EWB-04
Merchant Exports generate an inflow of foreign exchange earnings for the country. Hence, it is equally important as manufacturer exports. These exports are mainly for goods and not services. Merchant Exporters or merchants who carry out this kind of export, generally do not own manufacturing units. They buy goods from manufacturers in Domestic Tariff Areas … Read moreMerchant Exports Under GST