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Anonymous
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  1. Section 87A was introduced to help taxpayers reduce their income tax liability. In other words, certain taxpayers earning income below a specified limit can leverage the provisions of this section and pay lesser/zero income tax. You can read more about section 87A here - https://www.mastersindia.co/Read more

    Section 87A was introduced to help taxpayers reduce their income tax liability. In other words, certain taxpayers earning income below a specified limit can leverage the provisions of this section and pay lesser/zero income tax. You can read more about section 87A here – https://www.mastersindia.co/gst/section-87a/

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Onlinelegalindia
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  1. GST return involves lot of activities ,  which include Filing different types of GST returns electronically , Uploading invoice wise details , populating details  input tax credit from returns filed by recipients ,  invoice information ,  Mismatch of the invoice information. Here are following typeRead more

    GST return involves lot of activities ,  which include Filing different types of GST returns electronically , Uploading invoice wise details , populating details  input tax credit from returns filed by recipients ,  invoice information ,  Mismatch of the invoice information.

    Here are following type of GST returns –

    GSTR – 1  – (GSTR-1 is a Return of a  normal registered taxpayer under GST. this is monthly return showcases that describe  sales transactions of a business in a particular month. GSTR 1 is filed 10 days before ending of month , it can be extended while requesting to commissioner .

     

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Anonymous
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  1. Step 1 Login with valid credentials on the GST portal Step 2 On the Dashboard, navigate to the ‘My profile’ section. Step 3 From the options "Quick Links" select ‘Manage API access’. Step 4 Click ‘Yes’. Step 5 A dropdown for the duration will be displayed. Select the desired duration and then clickRead more

    Step 1 Login with valid credentials on the GST portal
    Step 2 On the Dashboard, navigate to the ‘My profile’ section.
    Step 3 From the options “Quick Links” select ‘Manage API access’.
    Step 4 Click ‘Yes’.
    Step 5 A dropdown for the duration will be displayed. Select the desired duration and then click confirm.

    Hope it helps…

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Sumit Upadhyay
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  1. No. An Input GST credit is the amount of GST paid while purchasing goods for the purpose of production of output. However, an Electricity bill (that includes electricity tax) is not a tax payment towards the purchase of any input goods therefore, it can not be a GST payment. Hence, electricity tax iRead more

    No. An Input GST credit is the amount of GST paid while purchasing goods for the purpose of production of output.
    However, an Electricity bill (that includes electricity tax) is not a tax payment towards the purchase of any input goods therefore, it can not be a GST payment. Hence, electricity tax is not taken as an input GST credit, but rather it is to be taken on the profit and loss account as an expenditure.

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Anonymous
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  1. If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.

    If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.

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Anonymous
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  1. Income Tax is a direct tax charged by the Government on the income of a taxpayer. As per the Income Tax Act, taxpayers must file their income tax return annually to determine their tax obligations.

    Income Tax is a direct tax charged by the Government on the income of a taxpayer. As per the Income Tax Act, taxpayers must file their income tax return annually to determine their tax obligations.

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Anonymous
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  1. If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don't file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.

    If you have taxable income in a financial year, you have to file Income Tax Returns compulsorily. If you don’t file Income Tax Returns on time, a penalty of up to Rs. 10,000 may be imposed.

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Anonymous
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  1. This answer was edited.

    The generation of the E-way bill is necessary where there is movement or motion of goods and products which are worth more than Rs. 50,000. When any goods or products are moved from one place to another, within India except if the movement of goods in within Delhi, E-way bill is required.

    The generation of the E-way bill is necessary where there is movement or motion of goods and products which are worth more than Rs. 50,000. When any goods or products are moved from one place to another, within India except if the movement of goods in within Delhi, E-way bill is required.

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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. GST is a tax in itself. You can pay GST on the GST portal digitally. Here is a step-by-step guide to help you pay GST online - https://www.mastersindia.co/gst/gst-payment-online/ Let me know if you need any other help.

    GST is a tax in itself. You can pay GST on the GST portal digitally. Here is a step-by-step guide to help you pay GST online – https://www.mastersindia.co/gst/gst-payment-online/

    Let me know if you need any other help.

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Anonymous
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  1. This answer was edited.

    You can search GST number using PAN at the GST portal itself. Steps to search for GSTIN using name are as follows: Step 1: Go to GST portal https://www.gst.gov.in/ Step 2: click on 'Search Taxpayer' Step 3: On the drop down options, click on the option 'Search by PAN' Step 4: Enter the PAN and clickRead more

    You can search GST number using PAN at the GST portal itself.

    Steps to search for GSTIN using name are as follows:

    Step 1: Go to GST portal https://www.gst.gov.in/
    Step 2: click on ‘Search Taxpayer’
    Step 3: On the drop down options, click on the option ‘Search by PAN’
    Step 4: Enter the PAN and click on search.

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Anonymous
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  1. Here are some simple steps to create QR code: Step 1: Select a QR code generator. Step 2: Choose the type of content you're promoting. Step 3: Enter your data in the form that appears. Step 4:Consider downloading a dynamic QR code. Customize it. Step 5: Test the QR code to make sure it scans. You caRead more

    Here are some simple steps to create QR code:
    Step 1: Select a QR code generator.
    Step 2: Choose the type of content you’re promoting.
    Step 3: Enter your data in the form that appears.
    Step 4:Consider downloading a dynamic QR code.
    Customize it.
    Step 5: Test the QR code to make sure it scans.
    You can now share and distribute your QR code to track and analyze performance.

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