Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: TDS :: empanelment :: articles on VAT and GST in India :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT Audit :: VAT RATES :: cpt :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4%
 
 
« Direct Tax »
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months
 Income Tax Slab for AY 2017-18: Know your tax category

Reach out to non-filers of GST returns: CBEC to fields offices
November, 14th 2017

The tax department has directed its field offices to reach out to businesses that have not filed returns under the GST but were paying taxes in the erstwhile service tax/VAT regime.

The Central Board of Excise and Customs (CBEC) has shared the zone-wise data of businesses under the Goods and Services Tax (GST) with regional commissioners to handhold them in case they are facing difficulty while filing returns under the new indirect tax regime.

The CBEC is the apex decision making body for policies relating to indirect taxes.

About one crore businesses have registered themselves on the GST Network portal. Of this, about 72 lakh have migrated from the erstwhile excise, service tax and VAT regime.

"Field offices know which businesses used to file tax in the earlier regime. Now we have shared with them the initial GSTR-3B return data to match if anyone who is eligible for paying taxes in the new regime is left out," an official said.

Under the GST, businesses with turnover of up to Rs 20 lakh are exempt. This threshold is higher than the earlier service tax or VAT.

"We would go easy on businesses as we have just switched to a new taxation system. However, there are traders and businesses who have registered under GST and have not filed returns. We have asked our field formations to get in touch with them to check if they need some handholding," he added.

Out of the one crore registered businesses, 15 lakh businesses have opted for composition scheme and will file returns quarterly.

Of the remaining, 55.87 lakh businesses filed GSTR-3B returns in July, 51.37 lakh for August and over 42 lakh in September.

"A significant number of businesses who have not filed returns actually have nil tax liability. They might be thinking that they do not need to file returns because they do not have to pay tax. We need to handhold them towards filing returns," the official said.

The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had last week cut penalty on account of delayed filing of returns from Rs 200 earlier. Now businesses with nil tax liability will have to pay Rs 20 as penalty and rest Rs 50 for delayed filing of monthly returns.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions