ALL ABOUT ITC GSTR -9
🚨 ITC- GSTR 9- listen up! 🚨 We’ve broken down everything you need to know about showing ITC in GSTR9—table 6, 7, or 8? 🤔 Plus, we’re diving into how GSTR3B data, GSTR2B data, and tax on imports fit into table 6 and table 8. These tables are critical, and we’ve covered all the essential concepts you need to master them!
High Court Quashes Section 74 Notices
The Allahabad High Court has delivered a series of groundbreaking judgments establishing that Section 74 notices under GST law are void without explicit allegations of fraud, wilful misstatement, or suppression of facts. These rulings protect taxpayers from arbitrary conversion of Section 73 proceedings into Section 74 merely due to pending clarifications or time constraints.
Webcast on Significance of GST in Statutory & Tax Audit(Sample)
Webcast on significance of GST in Statutory and Tax Audit to be conducted for the period 2019-20. Topics covered are: Opinion and basis for opinion to be reported in Independent Auditor’s Report Key Audit matters (KAM) Management’s responsibility for the Financial Statements Auditor’s Responsibilities for the Audit of the Financial Statements Report on Other Legal and Regulatory Requirements Tax Audit Reports and Relevant Extract Powers and Duties of Auditors and Auditing Standards Punishment for Contravention CARO-2020 and Relevant Extracts Important Points on which Auditor’s reporting is required Forms of Fraud Circumstances of Fraud Examples of Fraud Requirements of Standards on Auditing Responsibilities of the Auditor Applicable Standards on auditing : SA 200-Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing SA 210-Agreeing the Terms of Audit Engagement SA 230- Audit Documentation SA 240 - Responsibility of frauds and material errors noticed SA 315- Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment SA 320 - Materiality in Planning and Performing an Audit SA 402- Audit Considerations relating to an Entity using a Service Organisation SA 500- Audit Evidence SA 520 - Analytical Procedures SA 540 – Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures SA 550 – Related Parties SA 560 – Subsequent Events
CA FINAL IDT MAY/NOV 2020 | Pure Agent as per Rule 33 of CGST Rules
Pure Agent means a person who – Enters into a contractual agreement with the recipient to act as his pure agent to incur expenditure or costs in the course of supply. Neither intends to hold nor holds any title to the goods or services so procured or supplied as pure agent of the recipient. Does not use for his own interest such goods or services so procured. Receives only the actual amount incurred to procure such goods or services in addition to the amount received for supply he provides on his own account Conditions to consider under pure agent Supplier acts as a pure agent of the recipient of the supply, when he makes the payment to the third party on authorization by such recipient Payment made by the pure agent on behalf of the recipient has been separately indicated in the invoice issued by the pure agent to the recipient of service Supplies procured by the pure agent from the third party as a pure agent of the recipient of supply are in addition to the services he supplies on his own account
Time of supply for knowledge Tree deliberation
ime of Supply under GST, which determines the point at which GST liability arises. It covers provisions relating to goods and services, advance payments, reverse charge, and practical scenarios for correct compliance. The session focuses on avoiding litigation and ensuring accurate tax payment by properly identifying the time of supply.
GST NEW RETURN with effect from 01st Jan'2021
There are some changes in GST returns with effect from 01.01.2021. Now registered person have the option to file GSTR-3B quarterly, subject to such conditions and restrictions and the person who have opted to file GSTR-3B quarterly can file GSTR-1 quarterly. In this video we cover various topics such as Due date of GSTR-3B, Due date of GSTR-1, Invoice Furnishing Facility (IFF), Quarterly Return Monthly Payment (QRMP) Scheme, Special procedure for making payment of tax liability in first two month.