How To Apply For Gst Registration Cancellation?
A GST registration can be cancelled by the Tax payer himself or by the legal hires of tax payer in case of the death or any other incapability of the Tax payer. In this write up we will discuss about the cancelation of registration. Who Can Cancel GST Registration? An officer of GST can cancel […]
How GST Will Impact on E-commerce Business
At Ovakil, we are committed to make taxation simple for small business owners in India. Since GST is set to replace various indirect taxes, we have started this series on frequently asked questions on GST. This article is next in this series. Earlier, we had covered overview of GST tax and common questions around it. We have also published […]
GST Registration for Transporters, Godown and Warehouse
Goods and Services Tax (GST) will unify India into one of the largest market for goods and services across the world. Under GST, the requirement for compliance from businesses would be extensive to reduce revenue leakage for the Government, while also attempting to improve ease of doing business in India by digitising the administration of […]
Gst On Discounts After Gst Registration
To attract customer in your business some time we need to provide then good discount which may be of following type cash discount, trade discount, volume discount, percentage discount etc. now we need to understand the applicability of GST on discount Under GST there is no bifurcation in all above discount type, but there are two category […]
GST Invoice Format and Rules
GST EWay Bill
GST EWay Bill GST EWay Bill is a new methodology for tracking of goods in transit introduced under the Goods and Services Tax. Any taxable person registered under GST and causing movement of goods of consignment with a value of over Rs.50,000 is required to generate a GST EWay Bill from the GST Common Portal. In this article […]
GST Delivery Challan – Procedure for Issuing & Format
GST Delivery Challan – Procedure for Issuing & Format In some cases where the sale of goods or services does not happen immediately or when payment is not received on supply, delivery challan is issued by the supplier. In this article, we look at the procedure for issuing delivery challan and delivery challan format in […]
Types of Digital Signature Certificate
Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Few Examples of physical certificates are drivers’ licenses, passports or membership cards. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver’s license identifies someone who can legally drive in a […]
Demonetisation Error: Income-Tax Dept Errors, Mixes Up Note Ban Data
The recently launched Operation Clean Money has received ample response from taxpayers through the e-filing window. However, an error occurred in the 18 lakh communications sent by the Income Tax (IT) department for cash deposits made post-demonetisation (November 8). The Indian Express reports that banks and financial institutions have submitted data for cash deposits made […]
Deduction on Capital Gains Under Section 54F Can Be Extended
In ACIT v. Sri B. Surendra Choudary, the division bench of the ITAT, Hyderabad bench held thatthe new property registered in the name of assessee’s wife is eligible to get deduction under section 54F of the Income Tax Act even if the wife is having independent income. The decision was based on the judgment in […]
