Highlights of various notifications issued by CBIC on 15.10.2020

-
A flurry of notifications hasbeen issued by the CBIC yesterday on various aspects from return filing to HSN code requirement. A brief summary of them all is as below: Notification No. 74/2020 –Central Tax: The registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial […]

from TaxGuru https://ift.tt/2ID3LLR
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
Read more

GST ON TOUR OPERATORS AND AIR TRAVEL AGENTS

-
Image
GST ON TOUR OPERATORS AND AIR TRAVEL AGENTS GST ON TOUR OPERATORS GST @ 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
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 can   amend  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
Read more