In one of the latest moves, it has now been decided (officially) to share income tax data with GSTN in order to curb tax evasion. CBDT has notified a designated authority, Principal Director General of Income Tax (System) or Director General of Income Tax (System) to furnish information to GSTN. This will be done under […]
Deposit Compliance – eform DPT 3 – One Time Return and Return of Deposit This article dealt with eform DPT – 3 and details to be furnished in this form. Act Reference eForm DPT-3 is required to be filed pursuant to Section 73 read with rule 16 and 16A of the of the Companies (Acceptance […]
Post implementation of GST, the major challenge of Government has been to increase the number of return filings and to maintain a steady growth in GST revenue. With the return filing front of the GSTN Portal stabilizing, now the Government has shifted its focus to revenue growth by arresting tax evasion. Government has decided to […]
The EPF was established by the Employees Provident Fund Organization (EPFO) of India, a statutory body of the Government. It states that every organization having 20 or more permanent employees across different departments working, should compulsorily register with the EPFO. In the case of an organization which employs less than 20 employees or meet certain […]
Eligibility of Input Tax Credit (ITC) on Prepaid Expenses Introduction: – Section 16 of CGST Act 2017 provides that every registered person shall be entitled to take Input Tax Credit of tax paid on input and input service, subject to such conditions and restrictions as may be prescribed. Section 16(2) of CGST Act 2017 provides […]
