Blog Posts

UPDATES IN GST AND INCOME TAX .

Transporters with a common PAN registered with in different states now can apply for a common enrolment no. for E-WAY bill by filling GST ENR-02, using any GSTIN. GST has been spoken of as a apancea for high fuel prices but the structure in works would ensure that there is no change will be seen in the rates as a peak rate of 28% is been levied with some amount of local sales tax or VAT on petrol and diesel.

Continue Reading

INCREASE IN ILLEGAL PRACTICES UNDER GST.

GST increased illegal activities 4-5 times in terms of Billing (GST introduced to track the trail of transaction has in fact increased illegal activities in terms of billing by multiple times) As gst was introduced as to decrease the rate of illegal billing amount. But on the other hand it was seems  that in place of  decrease it increse the no of fraud in term of sale of bill. Goods and services tax (gst) introduced to track the trail of

Continue Reading

E-WAY BILL NOW COMPULSORY IN MOVEMENT OF GOODS IN DELHI. AND OTHER NOTIFICATION

A another notification introduced by the GST Department in related to e-way bill for the businessman working in delhi. According to the latest notification Notification No. 3/2018 dated 15.06.2018 . This is to notify you all that E-Way bill has become partially applicable in Delhi effective today, for intrastate movement of Value exceeding 1 lakh. Now it is compulsory to generate E-WAY on movement of godds amount excedding 1 lakh on all B2B transactions. SEBI imposes Rs 5 lakh fine

Continue Reading

MANUAL CHANGE OF MOBILE NUMBER & EMAIL ID BY AUTHORIZED SIGNATORY IN GST.

After getting a lot of complaint from the tax payers  that the intermediaries who were authorised by them to apply for registration are not sharing the user credentials and the tax payer is at their mercy Now mobile and email id can be changed mannualy by the concerned juriditional authority of the tax payer as per the following procedure as to address this difficulty – Steps to be followed- 1 tax payer need to approach the concerned jurisdictional Tax officer.

Continue Reading

WINDOW OF GST COUNCIL.

A new plan is planned in the ministry of finance about an annual return form for the filling of the Goods and Services Tax that will be brought upon in the upcoming GST council meet. From the sources it will informed that this form need to furnish along with the existing monthly GSTR-3B. this will help the revenue department for collecting additional data from tax payer. After a complaint from ministry of finance that not enough information being shared by

Continue Reading

MAINTENANCE OF BOOKS OF ACCOUNTS UNDER SEC (44AA)

Sec 44aa –  Maintenance of books of accounts. Every business man need to maintain his/her books of accounts for its financial year. firstly we need to know that what the the important books need to maintain under sec 44AA of income tax act. then who are those person who are compulsory for maintenance books of account. What are books of accounts – Cash book: A daily record of all cash receipts, payments and cash balance. Journal, in case of use

Continue Reading

ITR FORMS FOR DIFFERENT TYPES OF ITR.

The biggest query among the tax payers for their income tax return is that in which form they need to furnish their income tax return. Income tax department specified different forms for the asses having different sources of income so they need to furnish their income details for the consideration of income tax department. There are seven types of income tax forms named as follows. ITR-1 (SAHAJ) ITR-2 ITR-3 ITR-4 ITR-4S (SUGAM) ITR-5 ITR-6 ITR-7 ITR-1 (SAHAJ) This is the

Continue Reading

DUE DATES FROM THE DEPARTMENT OF INCOME TAX AND GST DEPARTMENT

Due dates for the month of june. Last date for filling of GSTR1 for the month of may was 10th of june. now on late filling applicable penalty should be bear by the tax payer for late filling of GST-R1. Applicable for tax payers having annual turnover over 1.5 crore . GSTR-3B should be filled before 20th of june . As penalty ws applicable for filling GDT-3b after the due date. Time period for filing GSTR-2 & GSTR-3 for July

Continue Reading

EXPENDITURE DISALLOWED BY INCOME TAX DEPARTMENT IN HEAD (PGBP). UNDER SEC(40).

  Sec (40) of income tax act. Usually any assese having income by the way of business having the foremost question in his/her mind that whether the deduction he claims in his books of account by the way of different sources of expenditure are whether allowed or disallowed in computation of business income by the methods of income tax department. So here Sec(40) stands with the different types of expenses which a business man deducts from his income in his

Continue Reading

WHAT AFTER COMPLETION OF ONE FINANCIAL YEAR OF GST.

One year back in the mid of night of 30th june 2017 a announcement is made by our PM. Narender Bhai Modi that a new system of indirect TAX was launched by the INDIAN GOVERNMENT named GST( GOODS AND SERVISE TAX). A lot of protest was made by the business man against this new system but in between facing such a large protest now it becomes normal when everyone was habitual to this. The INDIAN GDP was crashed during this

Continue Reading

Site Footer

Sliding Sidebar

CA Mukul Garg

Mukul Garg & Associates team of young jubilant professionals, geographically located at the heart of Delhi city. The strength of Mukul Garg & Associates lies in its ability to combine in-depth knowledge of cross sections of the industry, with the specialized skills of its professionals which spreads across its widespread network.

Contact Us

About Us

We provide best Transport service in india