Incomplete GSTR-2B in some cases

Post author:WhyTax
Post published:May 15, 2022
Post category:GST
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GST department has issued a update on GST portal regarding issue in auto populated data in GSTR 2B. Following is the update: 1. It has been noticed that in a few cases, certain records are…

Reporting 6% rate in GSTR-1

Post author:WhyTax
Post published:May 11, 2022
Post category:GST
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Ministry of Finance has issued a Notification No. 02/2022 dated 31st March 2022 for new GST rate i.e. 6% on certain items. The new tax rate has not been updated on GST Portal till date.…

Listed Company Quarterly Compliance Checklist

Post author:admin
Post published:May 7, 2022
Post category:Business Law MCA Others
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Listed Company Quarterly Compliance Checklist (for example quarter ends on 31.03.2022) Close the Trading Window Note: every Quarter on or before 1st day of the month succeeding to the Quarter end, none of the insiders…

Refund for Zero Rated Supply for supplies made to SEZ unit / Developer without payment of Tax

Post author:admin
Post published:May 5, 2022
Post category:GST
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Introduction: As per Section 16(1) of the IGST Act 2017, the Supplies to SEZ are treated as zero-rated supply thereby the supplier supplying goods or services cannot charge GST to SEZ. As the supplier will…

Compliance Calendar for May 2022

Post author:WhyTax
Post published:May 3, 2022
Post category:GST Income Tax MCA
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Due date Forms Period Person Responsible for filing 10.05.2022 GSTR 7 April 2022 GSTR 7 is a return to be filed by the persons who is required to deduct TDS under GST 10.05.2022 GSTR 8…

Annual Aggregate Turnover (AATO) computation for FY 2021-22

Post author:WhyTax
Post published:May 2, 2022
Post category:GST
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GST Department through updates on GST Portal dated 02.05.2022 has informed the taxpayers about functionality made available of AATO. The functionality of AATO for the FY 2021-22 has now been made live on taxpayers’ dashboards…

Advisory to composition taxpayers- Updates on GST Portal

Post author:WhyTax
Post published:May 1, 2022
Post category:GST
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Background: Since FY 2019-20, composition taxpayers has to pay the liability through Form GST CMP-08 on quarterly basis while return in Form GSTR-4 is required to be filed on annual basis after end of a…

Rule 12AC- Updated Return of Income- Form ITR U

Post author:WhyTax
Post published:April 30, 2022
Post category:Income Tax
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The Central Board of Direct Taxes (CBDT) vide Notification No. 48/2022 on April 29, 2022 has issued the Income-tax (Eleventh Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962. CBDT notifies Form and Manner…