In our AIS or Form 26AS why is it showing the bank interest which is accrued as interest paid. This interest is actually not paid but is accrued. Form 26AS/AIS is showing this as paid. Why do you think so this happened? Form 26AS or Annual Information Statement (AIS) is a consolidated tax statement that provides information on various types of income, includ...
In order to provide investors with a diverse portfolio, hybrid mutual funds are a form of investment vehicle which typically invests in a blend of stocks, bonds, and other assets. Securities like mutual funds that have debt or equity proportions exceeding 35% but below 65% are considered hybrid securities. Following the budget 2023, hybrid instruments held f...
1. Section 16 is amended to state that buyers who fail to pay their supplier the invoice value, including the GST amount, within 180 days from the date of issue of the invoice, must pay an amount equal to the ITC claimed along with interest under Section 50. 2. Sections 37, 39, 44, and 52 are amended to restrict taxpayers from filing their GSTR-1, GSTR-3B, G...
Whether you have a best GST Audit services in delhi requirement or a GST return, we offer a wide range of exclusive services. We will help you organize, analyze, and manage your financial documents with quality. GST – Goods and Services Tax is one tax system to subsume all other taxes. To bring one nation, one Tax into work, the government of India Launched ...
GST- Goods and Services tax implemented in 2017 with the aim to replace different taxes with 1 common tax. Good and service tax includes a refund process in which registered taxpayers can claim in case the excess amount is more than GST liability. Taxpayers can claim their refund on GST depending on their industry or business niche. There are different rules...
• Login to GST Portal, select services, refund, applications for refund, export with payment of tax, RFD-01. • File the RFD-01 refund application in delhi. With all the details and precautions as it is not a rectification form. • After submission of the form, the application is passed to the processing officer. The processing officer will issue an acknowledg...
The process of GST declaration and claim under the export of goods and services can vary. The zero-rated supply or export of goods and services can go through two ways: (i) Export of goods with payment of tax (ii) Export of goods without payment of tax Export of Goods with payment of tax Exporters of goods and services are allowed to claim if IGST is paid du...
You will know who is eligible for ITR filing through this list • ITR-1: (known as Sahaj) must get filed by residents whose income is up to Rs.50 lakhs. This includes earnings from salary, one house property, other sources, and agricultural income up to Rs. 5000. • ITR-2: Persons who aren’t applicable for ITR-1 or HUFs. Also who don’t have income from profits...
The introduction of the import of service under, India will be a very unusual step in the field of indirect tax reforms. By consolidating a number of Central and State taxes into a single tax, GST is expected to significantly mitigate double taxation and make taxation overall simple for the industries. For the end consumer, it will be most helpful in terms o...
The concept of income tax is vast, with several procedures and various laws regulating it. You have to find professionals who know the procedural rules well. They need to know about taxes thoroughly. However, most important of all is the filing of taxes so that the clients don’t end up paying more. The income tax coverage is really huge in terms of numbers i...
In the case of the export of goods and services with payment, the shipping bill by default acts as a gst refund application in delhi. However, in case of a refund application without payment of tax, RFD-01 should be filled as follows: • Open GST Portal, log in, select services, then Refund selection. Select the application for refund and click on the export ...
• Login to GST Portal, select services, refund, applications for refund, export with payment of tax, RFD-01. • File the RFD-01 refund application in delhi. With all the details and precautions as it is not a rectification form. • After submission of the form, the application is passed to the processing officer. The processing officer will issue an acknowledg...
