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GST Audit for the FY 18-19 is over and people are moving over to GST Audit FY 19-20. As per the Union budget 2021-22, FY 2019-20 is the last year of GST Audit, after this GST Audit will be abolished. The last date for FY 19-20 GST Audit was 31st December 2020, however, it has […]
Read moreThe GST department have started sending intimation for conducting GST Audit in accordance with the provisions of Section 65 of CGST Act, 2017 and directing the assess to furnish the information/ documents as per list/format enclosed like Income Tax return, trial balance etc. The GST Audit by GST authorities involves detailed scrutiny of the accounts and records. Here […]
Read moreKarnataka GST Department (KGSTD) issued a circular for the clarification and instructions related to electronic Scrutiny of High-risk cases, Audit Observations and DRC under Assessment module (“e-Shodane”), an e-Audit module developed by the KGSTD in association with NIC, Karnataka. It is launched to undertake GST Audit and Assessment proceedings as per the provisions of the […]
Read moreThe Maharashtra GST Department has issued circular regarding the General Procedure for GST under Section 65 of the MGST Act, 2017. The Circular states about the objective of GST Audit, Procedure, scope, Rights and duties of Registered Tax payers and list of documents to be submitted. The Circular is as follows- GST is based on […]
Read moreForm 26AS is not a new concept to all of us. It is an Annual statement under Income Tax which includes all details relating to Tax deducted at source (TDS), tax collected at source (TCS), Advance Tax paid, Self-Assessment tax paid, information regarding refund received, regular assessment tax that has been deposited, and information regarding […]
Read moreThe Government has been receiving a number of representations regarding the need to extend the due date for filing Annual Return (FORM GSTR 9) and Reconciliation Statement (FORM GSTR-9C) for 2018-19 on the grounds that on account of the COVID-19 pandemic related lockdown and restrictions, the normal operation of businesses have still not been possible […]
Read moreDisclosing Turnover under Goods and Service Tax and Income Tax is matter of confusion now-a-days. As GST Turnover definition is somewhat different from Income Tax Turnover. However, now both the department will exchange the information with each other. Therefore, one needs to take care in reporting turnover under Income Tax and GST. What is Turnover […]
Read moreAfter completing GST Audit for FY 2017-18, if you feel that the work is over than you have to change your feelings because “Picture abhi baki hai mere dost”. The New Chapter of Goods and Service Tax LAW i.e. Audit Notices begins…. Numbers of taxpayers have already got notice/letter from GST department in respect of […]
Read moreFinancial year 2017-18 was first year of Goods and Service Tax implementation, so many mistakes had came to notice at the time of GST audit. It was natural to make mistakes, but it’s important to learn from the mistakes and to correct it. So, following are few common mistakes which have been seen and need […]
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