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Would head offices providing centralized HR, Finance and IT functions also need to raise invoices to its branch- Yes, if the head office and branches are distinct persons as specified in section 25(4), invoice is required to be issued and GST should also be paid. Where free replacement is provided to the customers without consideration
Learn MoreThere has been a change in the way Income Tax Department (ITD) is processing the income tax returns (ITR) for financial year 2016-17. This has led to Intimation u/s 143(1)(a) being issued to a lot of taxpayers with even the slightest discrepancy in their return. How returns were processed till 2016: Only tax details declared
Learn MoreGSTR-3B filling is under progress and the last date for GSTR-3B filling is 20 August 2017. Please find below the step by step guide on how to file GST Return-3B. Step by step guide on how to file GST Return-3B 1. After login, select Return Dashboard 2. Select Financial Year 2017-18 and Month July. Click
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Points Related To Reverse Charge Under GST as Per FAQ Issued There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of supplier. This scenario is covered by section 9 (3) of the CGST/ SGST (UTGST) Act and section 5 (3) of the IGST
Learn More1. ‘Carry forward’ of Input Tax Credit (ITC) as available on appointed day (i.e 1stJuly, 2017) (I) Every registered person under GST is eligible to claim ITC against CENVAT credit carried forwarded in return pertaining for the period immediately preceeding appointed day(i.e on 30th June 2017) subject to satisfication of certain prescribed conditions: That amount
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