Intricacies of TCS on Sale of Goods From 1st October 2020

-
Intricacies of TCS on Sale of Goods From 1st October 2020 – Part 1 This video discusses : 1. Analysis of Sec 206C(1H) of Income Tax 2. Effect on Invoicing from 1st October 2020 3. TCS on GST OR GST on TCS 4. TCS on Stock Transfers 5. Buyer Categorization Issue in ERP 6. Probable […]

from TaxGuru https://ift.tt/2FKYiBy
via gqrds

Comments

Post a Comment

Popular posts from this blog

Caution Compliance Companies continues to con Florida corporations

-
Article writing may be a superb option to internalize the advice that is heard or research. The college software query has become the most vital component the article. Regrettably there’s no sure fire way of creating a college entrance essay. This really is definitely the most vital part the essay writing process. That’s because they’re nevertheless unsure how to approach composition creating. Writing a few documents might be simple too. This really is an extremely significant factor in writing a profitable composition. Here’s an easy guide descriptive-essay.org review to composition writing.Communicate which you have been definitely not working soft, and mention your main achievements.Second don’t summarize the complete contents of your own faculty essay in your Opening, if you summarise the full document, the marker will not need to read the balance of your article! Here are a number of other vital things to consider about using essay exams. Many students believe they must use massi…
Read more

GST ON TOUR OPERATORS AND AIR TRAVEL AGENTS

-
Image
GST ON TOUR OPERATORS AND AIR TRAVEL AGENTS GST ON TOUR OPERATORSGST @ 5% has been applied on services of tour operator without benefit of Input Tax Credit (ITC) on goods and services. 5% GST will be payable on the gross amount charged by the tour operator from the customer. This GST is uniform for all services – package tours, hotel accommodation only etc. The expression “tour operator” is defined in entry No. 23 of notification No. 11/2017-Central Tax (Rate) dated 28.6.2017 as under:-“Tour operator” means any person engaged in the business of planning, scheduling, organizing, arranging tours (which may include arrangements for accommodation, sight-seeing or other similar services) by any mode of transport and includes any person engaged in the business of operating tours”. In the case of Intra-State supply of tour operator’s services, CGST @2.5% and SGST @ 2.5% will be levied making the total tax as 5%. On the contrary, in the case of Inter-State supply of services, 5% IGST will apply …
Read more

Consequences of incorrect invoice details uploaded while filing GSTR 1

-
Image
Consequences of incorrect invoice details uploaded while filing GSTR 1
What will be the consequences if incorrect invoice details are uploaded on GSTN Portal while filing GSTR 1? How any one canamend these details?
It is a very common question of every GST taxpayer that what would be the consequences if one encounters following mistake while filing his GSTR 1 . •    Mention the wrong GSTIN (For example the invoice is on the name of M/s A but mistakenly shown it as sale made to M/s B)
•    Mention wrong Invoice No. or Invoice date
•    Punched wrong Invoice value (Mistake is due to wrong data Punching)
As we all aware of the fact that GST Law doesn't provide any option to amend the GST Return. Therefore the taxpayers (especially small traders) are very much concern regarding consequences of clerical mistake committed while filling GST Returns specially GSTR 1.
However, Section No. 34 of CGST Act, 2017 provides that the person can issue a debit or credit note as the case may being fol…
Read more