E India CA

Professional Updates for Chartered Accountants

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E India CA: Seminar on GST and Income Tax on Tuesday, 20th Nov’18

Greetings from E India CA! E India CA invites you to Interactive Seminar on GST and Income Tax Assessment (including e-asssessment)/Re-assessment as per below details: on Tuesday, 20th November 2018 from 5.00 PM to 8.30 PM Session Details Precautions & Issues in Income Tax Assessments/reassessments (including e-asses...

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All About Proposed Simplified GST Returns – Sahaj And Sugam

With the introduction of Goods and Service Tax (GST), there had been a tremendous increase in the numbers of returns to be filed by the registered taxable person. Due to the increase in the number of returns and the complex return filing process, there had been a remarkable increase in compliance cost which is duly affecting the day ...

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Withdrawal rules for your provident fund account

Provident Fund is a product which helps salaried people to accumulate funds while they are earning for the period the income flow stops. So generally it is not supposed to be withdrawn before its maturity and jeopardise one’s retirement. However there are circumstances when resorting to the money accumulated in the Provident Fund a...

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Interest in GST: Whether on Gross Output Tax or Net Tax Liability

The interest is being charged by the Department on gross tax liability which is the output tax and tax payable on reverse charge mechanism without deducting any input tax credit i.e. net tax liability. Many taxpayers are getting notices from the GST Department regarding late filing of return. The GST Department is adding interest lia...

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How GST and demonetisation impacted govt finances

Widening the tax base and collecting more taxes has been a priority for the current government at the centre. This government’s two major economic disruptions—the introduction of goods and services tax (GST) and demonetisation—were justified in the name of raising tax compliance among other things. However, these moves have not...

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GST audit deadline is close! Types of Audit and All you need to know

After one year of Goods & Services Tax (GST) regime, it is now critical for the taxpayers to start focusing on various GST compliances such as reconciliations, annual return and GST audit certification. All of these compliances will form an important basis for the first audit/scrutiny/assessment under the GST law. The law prescr...

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CBIC amends CGST rules; prescribes procedure of recovery of dues under existing laws

The Central Board of Indirect Taxes and Customs vide Notification No. 60/2018 dated October 30, 2018 has for the 13th time in 2018 amended Central Goods and Services Tax Rules, 2017. Following amendments are made vide this notification: After rule 83, Provisions relating to a goods and services tax practitioner (“GST Pract...

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Bombay HC asks Petitioners seeking amendment in GST TRAN 1 to make representation before CBIC; directs CBIC to address within 12 weeks

In a petition seeking amendment in GST Form TRAN 1 due to typo errors made while filing GST TRAN-1, a two-judge bench of the Bombay High Court has asked the petitioners to file a representation before the Central Board of Indirect Taxes (CBIC) about the claim and directed the Board to address the grievance within a period of twe...