11 Best Income Tax Software for CA
Today everybody wants ready data that makes their task easy and less time-consuming. Work in different organizations is done using different capable software. Even Chartered accountants are working using tax-related software instead of working manually. Most of the Chartered Accountants prefer to use different software for their work. It saves their time and manual efforts […]
How to Get Clients for your CA Practice
Struggling with finding new clients for your CA firm? Not to worry. Your hard work will reap fast with these strategies. No doubt a lot of hard work is required to build up a new brand. For a successful brand, growth in clients is essential. You need a proactive and smart strategy to find new […]
GSTR-2B Everything You need to Know
GSTR-2B is introduced on GST portal only some days back. At first, GSTR-2A and GSTR-2B seems to be same. But they are different in some manner. Government has now dumped the new return forms which have three types of return forms – Normal, Sahaj and Sugam and decided to continue the present return filing system […]
Appeals under GST
Appeal before Appellate Authority Any person who thinks that the order or decision by the adjudicating authority is not as per law then such person can file an appeal to the Appellate Authority. The appeal should be filed within three months of communication of order or decision to such person. Commissioner may at its own […]
GST on DropShipping Business
What is a dropshipping business? Dropshipping is a business in which the seller sells the goods which he does not own at time of selling goods but then passes the order to a third party after receiving order. Such third party then delivers the order to the purchaser. For example, a person has a website […]
GST on Government Related Activities
Introduction Government is considered as a “person” under the GST act. Therefore, any supply of goods or services by or to government is subject to GST unless exempted. Activities or transactions undertaken by the Central Government or State Government or Union Territory or Local Authority in which they are engaged as public authority i.e. services by way […]
Transfer of ITC in case of Death of Sole Proprietor
In case of death of sole proprietor and business is continued by any person being transferee or successor, the input tax credit which remains un-utilized in the electronic credit ledger is allowed to be transferred to the transferee. The manner of taking such ITC is as below Registration liability of successor – Successor is liable […]
Transfer of ITC in case of Transfer of Business
A registered taxpayer may change its constitution vide sale/ amalgamation/merger/demerger/transfer of business. In such condition registered taxpayer has available matched Input Tax Credit (ITC) in electronic credit ledger which will need to be passed to the transferee. In this article, we will discuss about in which conditions ITC can be transferred and how it will […]
Assessment Under GST
New standard procedures issued by the CBIC requires the proper officers to issue a notice under GSTR-3A within 5 days of due date of return. As per Section 46 of CGST Act, a period of 15 days is to be given to taxpayer to file returns. If the taxpayer still not files the returns within […]
5 changes that come into effect from 1st April 2020 in Income Tax
The current financial year 2019-20 is closing on 31st March as usual and the new financial year 2020-21 is starting from today (April 1). In view of the lockdown to check the spread of corornavirus, the government had earlier extended the deadline for filing income tax returns for 2018-19 as well as that for linking PAN with […]