Guide to Taxation and Legal Concern |Simplified Laws http://www.simplifiedlaws.com Simplified Laws is not just about tax Laws. but about ‘Laws of Life’. Thu, 03 Aug 2017 12:40:38 +0000 en-US hourly 1 Communication of proposed adjustment u/s 143(1)(a) of Income Taxhttp://www.simplifiedlaws.com/communication-of-proposed-adjustment-us-1431a-of-income-tax/ http://www.simplifiedlaws.com/communication-of-proposed-adjustment-us-1431a-of-income-tax/#comments Fri, 28 Jul 2017 01:02:02 +0000 http://www.simplifiedlaws.com/?p=7450 Section 143(1)(a) of income tax is amended to expand the scope of adjustment which can be made while processing income tax return filed for the Asst Year 2017-18 and thereafter. Income tax department is empowered to make following adjustments before processing income tax return. Any arithmetical error in the return Incorrect claim which is evident ...

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Don’t forget to disclose cash deposit in income tax returnhttp://www.simplifiedlaws.com/dont-forget-to-disclose-cash-deposit-in-income-tax-return/ http://www.simplifiedlaws.com/dont-forget-to-disclose-cash-deposit-in-income-tax-return/#comments Fri, 14 Jul 2017 15:59:58 +0000 http://www.simplifiedlaws.com/?p=7441 Information on cash deposited in bank accounts from 09.11.2016 to 30.12.2016 to be disclosed income tax return for the Assessment Year 2017- 2018 Income tax department has started sending email communication for those who have already submitted the online response to the notice received for cash deposit made during the demonstration period, requesting them to ...

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Features of e- way bill under Karnataka GST Acthttp://www.simplifiedlaws.com/features-of-e-way-bill-under-karnataka-gst-act/ http://www.simplifiedlaws.com/features-of-e-way-bill-under-karnataka-gst-act/#comments Tue, 11 Jul 2017 00:36:06 +0000 http://www.simplifiedlaws.com/?p=7436 ‘e-way bill’ should be used for movement of 41 notified commodities. Important commodities are – Arecanut, automobile parts, bitumen, Cardamom, Cashew, Cement, Cement – Concrete Blocks , Chemicals of all kinds , dry fruits, edible oils, electrical goods, electronic goods, furniture , granite/marble blocks, hardware, iron& steel , tobacco products , machinery , paints , ...

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What constitutes a gift in the absence of definition in GST Lawhttp://www.simplifiedlaws.com/what-constitutes-a-gift-in-the-absence-of-definition-in-gst-law/ http://www.simplifiedlaws.com/what-constitutes-a-gift-in-the-absence-of-definition-in-gst-law/#comments Mon, 10 Jul 2017 16:11:03 +0000 http://www.simplifiedlaws.com/?p=7434 Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business. It is being reported that gifts and perquisites supplied ...

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Registration Process under GSThttp://www.simplifiedlaws.com/registration-process-under-gst/ http://www.simplifiedlaws.com/registration-process-under-gst/#comments Sat, 08 Jul 2017 00:58:11 +0000 http://www.simplifiedlaws.com/?p=7428 Registration under GST is compulsory for all persons having turnover more than the defined limits. Also some persons like e-commerce operator and casual taxable person are also required to register compulsory. Moreover, a person can also register voluntarily. Process of Registration  The registration under gst can be done only through online mode through portal gst.gov.in. ...

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About e-way bill or m-way bill for movement of goods in Karnatakahttp://www.simplifiedlaws.com/about-e-way-bill-or-m-way-bill-for-movement-of-goods-in-karnataka/ http://www.simplifiedlaws.com/about-e-way-bill-or-m-way-bill-for-movement-of-goods-in-karnataka/#comments Thu, 06 Jul 2017 16:14:01 +0000 http://www.simplifiedlaws.com/?p=7407 1. Every registered person for movement of goods in relation to a supply or for reasons other than supply or due to inward supply from outside the State or inward supply from un-registered persons, whose value exceeds fifty thousand rupees shall enter the details of such goods in the format, i.e., ‘e-way bill’ appearing in ...

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FAQ on applicability of GST on Tradershttp://www.simplifiedlaws.com/faq-on-applicability-of-gst-on-traders/ http://www.simplifiedlaws.com/faq-on-applicability-of-gst-on-traders/#comments Thu, 06 Jul 2017 13:11:23 +0000 http://www.simplifiedlaws.com/?p=7411 Q1. How will GST benefit the Trading Community? Ans. Under GST, a trader would be entitled to avail input tax credit paid on his domestic procurements of goods and services unlike the present indirect tax regime. Presently, a significant portion of indirect taxes namely Central Excise and Service Tax form part of the cost component ...

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How to get GST registration number (GSTIN) of GST dealer or supplierhttp://www.simplifiedlaws.com/how-to-get-gstin-number-of-gst-dealer-or-supplier/ http://www.simplifiedlaws.com/how-to-get-gstin-number-of-gst-dealer-or-supplier/#comments Thu, 06 Jul 2017 01:18:40 +0000 http://www.simplifiedlaws.com/?p=7404 Tired of calling your customers and dealers for their GST registration number?  You can get GST registration number (GSTIN) of your dealers and suppliers from GST  portal gst.gov.in. With just PAN number you will be able to get GST registration Number. You need any one of the following details apart from state in which your ...

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How to get contact details of GST dealer or supplierhttp://www.simplifiedlaws.com/how-to-get-contact-details-of-gst-dealer-or-supplier/ http://www.simplifiedlaws.com/how-to-get-contact-details-of-gst-dealer-or-supplier/#comments Thu, 06 Jul 2017 00:48:20 +0000 http://www.simplifiedlaws.com/?p=7401 1. Can I search details of registered dealer/ supplier from the GST Portal? The Search Taxpayer functionality allows you to view the profile of any other registered taxpayer at the GST Portal on entering the GSTIN/UIN. Once you enter the GSTIN/UIN and clicks the submit button the following details will be displayed: Pre Login 1. ...

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All about Electronic Cash Ledgerhttp://www.simplifiedlaws.com/all-about-electronic-cash-ledger/ http://www.simplifiedlaws.com/all-about-electronic-cash-ledger/#comments Thu, 06 Jul 2017 00:30:31 +0000 http://www.simplifiedlaws.com/?p=7394 1. What is the Electronic Cash Ledger? The Electronic Cash Ledger contains a summary of all the deposits/payments made by a taxpayer. In the ledger, information is kept minor head-wise for each major head. For convenience of user, the ledger is displayed major head-wise i.e., IGST, CGST, SGST/UTGST, and CESS. Each major head is divided ...

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