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TCS Mechanism under GST

Reading Time: 4 minutesTCS Mechanism under GST, Tax Collection at Source (TCS) has similarities with TDS, as well as has distinctive features also. TDS refers to tax which is deducted when the recipient of goods or services makes some payments under a contract etc. while TCS refers to tax which is collected by the electronic commerce operator when
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TDS Mechanism under GST

Reading Time: 4 minutesTDS Mechanism under GST, Under the GST regime, section 51 of the CGST Act, 2017 prescribes the authority and procedure for ‘Tax Deduction at Source’. The Government may order the following persons (the deductor) to deduct tax at source: (a) a department or establishment of the Central Government or State Government; or (b) local authority; or
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GST Practitioners Exam

Reading Time: 2 minutesGST Practitioners Exam, The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notification No. 24/2018-Central Tax dated
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Reading Time: 1 minuteThe Government of Punjab Vide Notification No PA/ETC/2018/175 dated September 13, 2018 has notified that no E-Way bill shall be required  to be generated for the intra-State movement in the State of Punjab, for a period of one year from the date of issuance of the notification, Where the movement of Goods commences and terminates within the State
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DIR-3KYC

Reading Time: 2 minutesDIR-3KYC, The Ministry of Corporate Affairs has extended the due date of filing DIR-3KYC without any filing fees upto 15 Sept 2018 and The fees of ₹5,000/- shall be applicable and payable on all delayed filings w.e.f 16 Sept 2018. The Companies (Registration Offices and Fees) Rules, 2014 vide Notification dated 21st August 2018 or via Companies (Registration Offices
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Simplified Returns and Return Formats

Reading Time: 2 minutesSimplified Returns and Return Formats, The GST Council in its 27th meeting held on 4th May 2018 had approved the basic principles of GST return design. Now in its 28th meeting held on 21st July 2018, GST Council approved the key features and the new format of the GST returns. This document lists the salient features of
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Reading Time: 1 minuteCentral GST Delhi West Commissionerate arrested two Rohini based businessmen on August 01, 2018 in a case of fraudulent issuance of Input Tax Credit invoices without actual supply of goods involving evasion of approximately Rs.201 crores relating to plastic granules industry. Searches were conducted at several places during which various incriminating documents and evidences were
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GST Impact on Free Samples

Reading Time: 2 minutesGST Impact on Free Samples, Promotional offers are very common in today’s competitive world to attract customers.  Distribution of free samples is one of the sales strategies to woo the customers for buying the products. the term ‘free supply’ is not defined under GST law, a ‘free supply’ in general sense, means a supply of
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Threshold limits to file Appeals

Reading Time: 2 minutesThreshold limits to file Appeals, In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, the Govt of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels. Threshold Monetary Limits for filing
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