Declaration to Deposit Lower TDS

If as a deductor, you have reasonable reasons for lower deduction/payment of TDS in the current period as compared to previous period, then the deductor can file declaration to deposit lower TDS via TRACES. It is an advisory issued from the Centralised …

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HOW TO RESOLVE ERRORS MADE IN GSTR 3B?

GSTR-3B is required to be filed till March 2018 by all taxpayers. Although this is a relatively easy form and there is less scope for mistakes but many persons are asking this question  – How to resolve errors made in GSTR-3B. There …

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GST on Goods Transport Agency

Among all the other confusions among the GST provisions, one of the important one is regarding applicability of GST on Goods Transport Agency (GTA). Every person who deals in goods needs their services and also it is listed among the services in …

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How a perfect GST Act would look like

Professionals or businessmen, most of the person is not happy with GST. They are not upset with the GST, they are upset with the way in which GST is implemented. Technical difficulties on GST portal, regular changes, problems in basic structure, the …

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Everything about Tax Deducted at Source (TDS)

What is TDS? TDS stands for Tax Deducted Source. In TDS system, persons responsible for making payment for specified services such as commission, brokerage, professional consultancy etc are required to deduct a fixed percentage from the amount. Such deducted amount (which is …

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Meaning of Debit Note and Credit Note

Meaning of Debit Note Debit Note is a document/voucher given by a party to other party stating that such other party’s account is debited in the books of sender. For example: A trader “ABC” purchases goods from “XYZ”. After receiving the material, …

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