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BLOG on Income Tax Management for - AY 2022-23 & 2023-24

GST (A Practical Knowledgebase)

Income Tax Management (India)

81
ACKNOWLEDGEMENT of e-Return under GST
On submission of return, an Acknowledgement Number will be generated. In case of submission of a return which has been prepared by using offline tools, acknowledgement of submission will take some time as...

82
Eligibility Conditions, Duties And The Obligations Of Goods Services Tax (GST) Practitioners
In view of the provisions of section 48 of CGST Act, 2017 which is applicable to UTGST/IGST Acts and SGT law and in view of Rule 24 of Draft Returns Rules, following are the eligibility conditions, duties and the obligations of Goods and Services Tax Practitioner:...

83
Rectification Of GST Return
Since the return framework in GST system is predominantly transaction based, any changes required to be done at any stage shall also have to be done at the transaction level rather than at the aggregate level of return. Therefore, in GST system, no revision of returns is allowed

84
Processing Of GST Returns By the GST Portal
After the GST Return has been uploaded onto the GST Common Portal, the Portal will undertake the following activities:

85
Conditions For Taking ITC ( Input Tax Credit) under GST
Subject to following conditions every registered person shall be entitled to take credit of input tax and such input tax shall be credited to the electronic credit ledger of such person:.....

86
Limitations On Availing ITC (Input Tax Credit) under GST
There are certain limitations to take input tax credit which have been explained in following paragraphs:....

87
Determination Of Input Tax Credit (ITC) In Respect Of Inputs Or Input Services ( Rule-7 of ITC Rules)
Rule 7 of the ITC rules provides for manner of determination of input tax credit in respect of inputs or input services in certain cases and reversal thereof.....

88
Determination Of Input Tax Credit (ITC) In Respect Of Capital Goods (Rule-7 of ITC Rules)
Rule 8 of the ITC Rules provides for manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases.....

89
Restrictions On Availing ITC ( Input Tax Credit ) under GST
Input tax credit in following cases shall be available only fulfilment of specific conditions mentioned in column 3 below: ......

90
Utilizing Input Tax Credit (ITC) in respect of IGST, CGST, Cess and SGST/UTGST
Input tax credit in respect of IGST, CGST, Cess and SGST/UTGST can be utilized in following sequence: ....

91
Availability Of Input Tax Credit (ITC) In Certain Special Circumstances under GST
There are various circumstances under which Availability Of Input Tax Credit (ITC) under GST is there...

92
Transfer, Reversal Of Input Tax Credit (ITC) Under GST
Various situations under which Transfer, Reversal Of Input Tax Credit (ITC) Under GST....

93
Distribution Of Credit By Input Services Distributor (ISD) under GST
The ISD will distribute the credit using the document prescribed in this behalf. Further the rules for input tax credit also provide the manner of distribution of credit by an ISD ...

94
GST Payment Of Taxes And E-Ledger / Registers
Ease in making payment towards tax and other dues is very important in a country like India. Challenge before the Empowered Committee was to usher in a mechanism of payment which is user friendly and at the same time allows payment through various modes, after utilization of ITC. A seamless payment mechanism has been envisaged. ...

95
Classification Of Refunds of Taxes / ITC under GST
CGST/UTGST/IGST Acts, 2017 and the SGST law give right to the taxpayers to claim refund of taxes/ITC for various reasons. The provisions of different types of refunds are described under Chapter XI of CGST which..

96
Law And Processes For Different Types Of Refunds of Taxes / ITC under GST
Various Law and Process has been defined for Different Types Of Refunds of Taxes / ITC under GST...

97
Process Of Refund Application Filing of Taxes / ITC under GST
Refund application in all cases are to be filed electronically at the GST Common portal. Refund will be segregated into CGST, SGST, UTGST, IGST, Cess, Interest, penalty, Fee and others. Formats for different types of refund are prescribed....

98
Documents Required For Filing Of Refunds of Taxes / ITC under GST
Application For Filing Of Refunds of Taxes / ITC under GST shall be accompanied by....

99
Transitional Provisions Pertaining To Refund of Taxes / ITC under GST

100
Verification Process of Refund of Taxes / ITC AT GST Common Portal
GST Common portal shall receive all the Refund application of CGST/ SGST/UTGST/IGST or interest, penalty etc. and provide a Unique Reference No. (URN) of Application immediately. ...

 
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