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Anonymous
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  1. Technically you should be able to file belated returns for AY 2020-21 till 31 March 2021. However, a penalty of up to Rs. 10,000 may be applicable.

    Technically you should be able to file belated returns for AY 2020-21 till 31 March 2021. However, a penalty of up to Rs. 10,000 may be applicable.

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Anonymous
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  1. There is no restriction on invoicing of export contracts in Indian Rupee. Further, in terms of Para 2.52 (a) of the Foreign Trade Policy (2015-2020), export proceeds against specific exports may also be realised in rupees, provided it is through a freely convertible Vostro account of a non-residentRead more

    There is no restriction on invoicing of export contracts in Indian Rupee. Further, in terms of Para 2.52 (a) of the Foreign Trade Policy (2015-2020), export proceeds against specific exports may also be realised in rupees, provided it is through a freely convertible Vostro account of a non-resident bank situated in any country other than a member country of the Asian Clearing Union (ACU) or Nepal or Bhutan. Export contracts and invoices can be denominated in Indian rupees against EXIM Bank/Government of India line of credit.

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Anonymous
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  1. GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.

    GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.

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Anonymous
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  1. This answer was edited.

    Know GST Full Form & GST Meaning in Different Languages. S. No Language GST Full Form in Different Languages 1 GST Full Form in Hindi वस्तु एवं सेवा कर 2 GST Full Form in English  Goods and Services Tax 3 GST Full Form in Marathi वस्तू आणि सेवा कर 4 GST Full Form in Kannad ಸರಕು ಮತ್ತು ಸೇವೆಗಳ ತೆರಿRead more

    Know GST Full Form & GST Meaning in Different Languages.

    S. No Language GST Full Form in Different Languages
    1 GST Full Form in Hindi वस्तु एवं सेवा कर
    2 GST Full Form in English  Goods and Services Tax
    3 GST Full Form in Marathi वस्तू आणि सेवा कर
    4 GST Full Form in Kannad ಸರಕು ಮತ್ತು ಸೇವೆಗಳ ತೆರಿಗೆ
    5 GST Full Form in Telegu వస్తువులు మరియు సేవ పన్ను
    6 GST Full Form in Malayalam വസ്തുക്കളും സേവന നികുതിയും
    7 GST Full Form in Bengali পণ্য ও সেবা কর
    8 GST Full Form in Urdu سامان اور سروس ٹیکس
    9 GST Full Form in Nepali सामान र सेवा कर
    10 GST Full Form in Tamil பொருட்கள் மற்றும் சேவைகள் வரி
    11 GST Full Form in Sindhi سامان ۽ خدمت ٽيڪس
    12 GST Full Form in Arabic ضريبة السلع والخدمات
    13 GST Full Form in Gujrati માલ અને સેવાઓ કર
    14 GST Full Form in Punjabi ਗੁਡਸ ਅਤੇ ਸਰਵਿਸਿਜ਼ ਟੈਕਸ

     

     

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Anonymous
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  1. It's too early to discuss whether GST is good or bad. It is a subjective matter of discussion. Compliance burden has increased for the taxpayers. Implementation is not being done in the manner it was envisaged when the GST was rolled out. GST Laws will take time to settle in India it is still evolviRead more

    It’s too early to discuss whether GST is good or bad. It is a subjective matter of discussion. Compliance burden has increased for the taxpayers. Implementation is not being done in the manner it was envisaged when the GST was rolled out.

    GST Laws will take time to settle in India it is still evolving. This question can be answered better after another 4-5 years. When benefits of the law will reap or drawbacks will show up.

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Anonymous
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  1. No, we cannot change the user ID in GST, however, one can retrieve the existing user ID by following simple steps: Step1: Go to the GST portal www.gst.gov.in Step2: Click on login button. Step3: You can find “Forgot Username” button in the bottom of the page. Step4: In the next page, you will submitRead more

    No, we cannot change the user ID in GST, however, one can retrieve the existing user ID by following simple steps:
    Step1: Go to the GST portal http://www.gst.gov.in
    Step2: Click on login button.
    Step3: You can find “Forgot Username” button in the bottom of the page.
    Step4: In the next page, you will submit your GST Registration Number (GSTIN) or any Provisional ID or UIN. Then click on “Generate OTP” button.
    Step5: You will receive an OTP on the registered mobile number and on the email ID.
    Step6: Enter the OTP at the required field and click on ‘submit’.
    Check you mail, as GST user ID will be sent on your registered mail ID.

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Anonymous
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  1. You can use Masters India's free Income Tax Calculator to check your income tax payable - https://www.mastersindia.co/income-tax-calculator/

    You can use Masters India’s free Income Tax Calculator to check your income tax payable – https://www.mastersindia.co/income-tax-calculator/

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Anonymous
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Anonymous
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What is GSTR-3B?

  1. GSTR-3B is a consolidated summary return wherein details of inward and outward supplies are to be provided. (Depending upon the type and turnover of the taxpayer, frequency of GSTR 3B and due date will be decided) Government had introduced Form GSTR 3B as a stop-gap arrangement before moving to theRead more

    GSTR-3B is a consolidated summary return wherein details of inward and outward supplies are to be provided. (Depending upon the type and turnover of the taxpayer, frequency of GSTR 3B and due date will be decided)

    Government had introduced Form GSTR 3B as a stop-gap arrangement before moving to the originally planned returns in Form GSTR 1 GSTR 2 & GSTR 3.

    But now the originally planned returns are scrapped by Government and GSTR 3B is notified as a summary return.

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Anonymous
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  1. If the supplier agency is registered under GST, the agency should charge GST for labour supply. It can also claim the input tax credit for the same. If the supplying agency is not registered under GST, the service receiver should charge GST under the reverse charge mechanism.

    If the supplier agency is registered under GST, the agency should charge GST for labour supply. It can also claim the input tax credit for the same. If the supplying agency is not registered under GST, the service receiver should charge GST under the reverse charge mechanism.

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Anonymous
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  1. I am assuming that you are enquiring about the filing of Income Tax Returns for FY 2020-21. You can file Income Tax Returns directly on the Income Tax Portal after March 31 2021– https://www.incometaxindiaefiling.gov.in/home. In case you need CA assistance, please drop in your details as a message.Read more

    I am assuming that you are enquiring about the filing of Income Tax Returns for FY 2020-21. You can file Income Tax Returns directly on the Income Tax Portal after March 31 2021– https://www.incometaxindiaefiling.gov.in/home.

    In case you need CA assistance, please drop in your details as a message. We will get in touch with you.

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Anonymous
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  1. Income tax is a major source of revenue collection for the government and the money collected is used to fund essentials such as health, education, defense, public affairs, infrastructures, etc.

    Income tax is a major source of revenue collection for the government and the money collected is used to fund essentials such as health, education, defense, public affairs, infrastructures, etc.

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Anonymous
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  1. Steps to obtain a temporary registration number: Step 1: Go the official website of GST https://reg.gst.gov.in/registration/' and choose Temporary registration Number. Step 2: Provide all the required information such as PAN number, mobile number, and email address. Step 3: After providing the requiRead more

    Steps to obtain a temporary registration number:
    Step 1: Go the official website of GST https://reg.gst.gov.in/registration/‘ and choose Temporary registration Number.
    Step 2: Provide all the required information such as PAN number, mobile number, and email address.
    Step 3: After providing the required details, click proceed. This will initiate OTPs to be sent on your number and email mentioned above.

    For the verification of your phone number and email address, you’ll now receive two different OTPs on SMS and as an email. The OTP is valid for just 10 minutes.
    A temporary reference number (TRN) will be generated.

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Anonymous
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  1. The 5 heads of income are: 1. Income from Salary 2. Income from House property 3. Income from Capital Gains 4. Income from Business or Profession 5. Income from other sources.

    The 5 heads of income are:
    1. Income from Salary
    2. Income from House property
    3. Income from Capital Gains
    4. Income from Business or Profession
    5. Income from other sources.

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Badrinath Patel
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  1. Printout of E way bill is not mandatory, but for the conveniance and record purpose we need take print out of E way bill

    Printout of E way bill is not mandatory, but for the conveniance and record purpose we need take print out of E way bill

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