GST on goods transport Agency

  In this article we will discuss about basic provisions of GTA, Applicable GST rate, Place of Supply, Registration Provisions, Reverse Charge & Exemption from tax in certain cases.    Goods Transport Agency (GTA):  

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Input Service Distributor

An ‘Input Service Distributor (ISD)’ is defined in Section 2(61) of CGST Act 2017, as an office of the supplier of goods or services or both who receives Tax Invoice issued under Section 31 towards the receipt of "Input Services"

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All about DIR-3 KYC - Due Date, Required Documents, Penalty & Fees

Who are required to file DIR-3 KYC  Every Director who have Active DIN (Director Identification number) on 31 March 2018 has to file e-form DIR-3 KYC. Even if director is non-qualified then also he has to file it. Here Director includes Designated Partner in case o

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Latest Amendment in Tax Audit Report or Form 3CD for FY 2017-18

CBDT by exercise of the powers conferred by section 44AB read with section 295 issued notifications 33/2018 dated 20th July 2018 to amend the tax audit report. By this notification CBDT amended the form 3CD, which is required to be file by every person who is liable for tax audit under section 44

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Tax Invoice and Bill of Supply

In General, Invoice is a document that has to be issued by supplier of goods or services to the recipient, invoice must contain the basis information of supplier and recipient along with description of goods or services, taxable value, applicable tax rate, tax amount, HSN/SAC code etc.  

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Tax Benefits of Housing Loan

In general, intension behind to take home loan is to avail maximum tax benefit apart from actual requirement to purchase such property. Under Income Tax you can avail two types of tax deduction on Home Loan which are: Deduction under section 80C: Repayment of Pr

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Penalty for late filing of ITR

As per the recent amendment by finance act 2017, there will be penalty on late filing of ITR. If assesse files the return after due that then he has to pay prescribed late fee/penalty on or before the filing of ITR.   As per Section 234F, if a person is required to file I

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All about DIR-3 KYC

  In order to maintain the trust of investors and Stake Holders, Government recently introduced, Compulsorily KYC Verification of Directors. That process will be online and will be required Chartered accountant or Company Secretory Certification, object behind this is to ensure the

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All About GST on Hotel & Restaurants-Including impact of Recent Notification

In this article I tried to explain Place of supply for restaurant Service, Hotel Services and outdoor catering services, applicable GST rate thereon and exemption available Definitions:   Place of Supply:  

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Advance Ruling (AR) Provisions in GST

In this article we will discuss about transaction for which AR can be claimed, Fee to be paid with application, time limit to announced AR and Appeal against AR. Section 95(a) Defined Advance Ruling as: a decision provided by the Authority or the

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