Tax Gyata's Blog – September 2021 Archive (21)

GST on restaurants

Compliances, procedures and applicable tax rates for restaurants under Goods and Services Tax. Apply GST registration for restaurants at TaxGyata.com. After getting registered under GST, restaurants are required to collect tax from customers and deposit it to the Government. How restaurants can avail GST composition scheme?

GST registration is a unique GST identification number (GSTIN) issued to the taxpayer after filing an online application on the Common portal. Any person having a…

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Added by Tax Gyata on September 15, 2021 at 12:48pm — No Comments

Export under GST

Know everything about GST on exports.What is a meaning of export of goods or services? Exemptions available to exports under GST. Get GST number. GST Act & Rules with related provisions. Applicable GST Rates. Apply GST registration. Documents required for exports in GST regime. Supply of goods notified under section 147 of the CGST act shall be treated as deemed exports.…

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Added by Tax Gyata on September 15, 2021 at 12:47pm — No Comments

Export under GST

Know everything about GST on exports.What is a meaning of export of goods or services? Exemptions available to exports under GST. Get GST number. GST Act & Rules with related provisions. Applicable GST Rates. Apply GST registration. Documents required for exports in GST regime. Supply of goods notified under section 147 of the CGST act shall be treated as deemed exports.…

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Added by Tax Gyata on September 15, 2021 at 12:47pm — No Comments

GST on imports

While IGST on import of services would be leviable under the IGST Act, the levy of the IGST on import of goods would be levied under the Customs Act, 1962 read with the Custom Tariff Act, 1975. Exemptions available to imports. Import of Goods under GST. GST on import of services.

The value of imported goods for the purpose of levying Integrated tax shall be assessable value plus customs duty levied and any other duty chargeable on the said goods under any law for the time being in…

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Added by Tax Gyata on September 15, 2021 at 12:45pm — No Comments

Freelancers under GST | GST registration for freelancers

"Get GST number for freelancers. Provisions under Goods and Services Tax for freelancer Services provided outside India. Find GST rate and SAC code on freelance services. Download Tax invoice fromat of freelance services.
Freelancing work includes accounting, data entry, designing, software development, consultancy services, etc."

https://www.taxgyata.com/ap/gst-on-freelancers

Added by Tax Gyata on September 15, 2021 at 12:43pm — No Comments

Goods Transport Agency under Goods & Services Tax (GST)

Applicability of GST on transport. GST registration for goods transaport agency. Get GSTIN. Exemptions available to GTA. Format of Tax Invoice. transporters are required to maintain records of goods transported, delivered, and goods stored in transit along with the GSTIN of the registered consigner and consignee.

Accordingly, GST will apply to the service of transportation of goods by road only if services are provided by GTA or courier agency. It is relevant to note that services…

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Added by Tax Gyata on September 15, 2021 at 12:42pm — No Comments

E-way bill validity | Extend eway bill validity

"How validity period of e-way bill will be calculated after the new rules? When e way bill validity period will start and expire? In the case of normal cargo, e way bill is valid for 1 day up to 200 Kms. Thereafter, an additional 1 day will be added for every 200 Kms or part thereof.

Steps and reasons of E-way bill extension. Extend e-way bill validity through TaxGyata."…

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Added by Tax Gyata on September 9, 2021 at 6:17am — No Comments

OIDAR services under Goods & Services Tax

"Meaning of OIDAR services - OIDAR services refer to services provided through the medium of internet without the physical interaction of the supplier and recipient of services. For example - web-hosting services provided by Amazon.

Apply GST registration for OIDAR services through TaxGyata. How OIDAR services will be taxed under GST. GST registration provisions applicable to non-resident online services provider"…

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Added by Tax Gyata on September 9, 2021 at 6:16am — No Comments

Income Tax Due Dates for 2021

"Income Tax Due date for deposit of Tax deducted/collected. Due date for furnishing of Form 24G by an office of the Government where TDS/TCS has been paid without the production of a challan.
Due date for Second installment of advance tax for the AY 2022-23. Pay taxes through TaxGyata. File ITR through Taxgyata. Online return filing."

https://www.taxgyata.com/ap/income-tax-compliance-calendar-2021

Added by Tax Gyata on September 9, 2021 at 6:15am — No Comments

Documents required to file ITR-1 (Sahaj) online for AY 2021-22?

"Following documents required to file ITR 1 through TaxGyata

Form 16,

House rent receipt (if applicable),

Investment payment premium receipts (if applicable).

However, ITRs are annexure-less forms, so attachment of any document (like proof of investment, TDS certificates) is not required along with return (whether filed manually or electronically). Pay taxes through TaxGyata. File ITR-1 through TaxGyata"…

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Added by Tax Gyata on September 9, 2021 at 6:14am — No Comments

How to Pay Advance Tax online?

"Step 1: Go to the Tax Information Network of the Income Tax Department of India.

Step 2: Click ‘Proceed’ under the CHALLAN NO./ITNS 280 option.

Step 3: On this Challan screen,

Select the tax applicable

Select type of payment,

Select mode of payment and bank name

Enter PAN,

Select assessment year

Fill in the address details

And, enter Captcha Code

Step 4: Click the ""Proceed"" button.

Step 5: You will be redirected to the…

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Added by Tax Gyata on September 9, 2021 at 6:13am — No Comments

Cases when ordinary resolution required under companies Act 2013

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(i) Where Registrar direct to change the name of the company within 3 months (Section 4)

(ii) Where Central Government direct to change the name of the company within 3 or 6 months (Section 16)

(iii) Alteration of Memorandum of Association ( Increase /Consolidate/ sub-divide/ convert/ cancellation of Share Capital) (Section 61)

(iv) Capitalization of Company profit or Reserves to issue fully paid bonus shares (Section 63)

(v) Unlimited company to provide…

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Added by Tax Gyata on September 9, 2021 at 6:12am — No Comments

Everything about Buyback of shares

Compliances applicable on buyback of shares in India. What can be sources of buyback. Buyback conditions. Date for completion of buy-back. Process of buyback of shares under companies act 2013. Register private ltd thrirg TaxGyata. Apply registration. Read more about companies act 2013

https://www.taxgyata.com/ap/buyback-of-shares-under-companies-act-2013

Added by Tax Gyata on September 9, 2021 at 6:11am — No Comments

Bonus issue procedure

Steps for issue of bonus shares. Notice meeting, Conditions for issue of bonus shares. Provisions under companies act 2013. Latest bonus issue announced in 2021. What can be sources of buyback? It also known as capitalisation of profits. Register company through TaxGyata.. Learn more about bonus issue in india.…

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Added by Tax Gyata on September 9, 2021 at 6:10am — No Comments

GST, Income Tax, Company Law, News

GST. Income Tax. Company Law. Fianance. Accounting. Tax. Goods & ServicesTax. CGST Act 2017, IGST Act, Finance Ministry. Apply GST registration through TaxGyata. New GST number, Income Tax Act, 1961, Companies Act 2013. India's most trusted tax website, GST NEws, Income Tax news

https://www.taxgyata.com/

Added by Tax Gyata on September 9, 2021 at 6:09am — No Comments

TDS Guide | Everything about TDS

What is TDS? Compliances for person deducting TDS. What is the due date for deposit of TDS? File Income Tax return. Read TDS updates Register your business. Steps to pay TDS online. Under Tax Deducted at Source (TDS) system, tax is deducted at the origin of the income i.e tax is deducted by the payer at the time of making payment and the same is deposited to the Government by the payer on behalf of the payee.…

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Added by Tax Gyata on September 7, 2021 at 12:43pm — No Comments

GST Case Laws | Latest GST Judgments - TaxGyata

Latest GST judgments paased by Supreme Court and High Court. Latest GST Advance Rulings. Find latest GST case laws with related act & Rules & notifications. Register your business. Apply GST registration. GST consultancy. GST registration case laws Hon'ble Justice Anil Antil while rejecting the bail application said that the entire incriminating material is yet to be recovered, additionally, as noted above, the Managing Director of the company is absconding and there is strong…

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Added by Tax Gyata on September 7, 2021 at 12:42pm — No Comments

Suo Moto Cancellation of Registration under GST - TaxGyata

"Know everything about Suo moto cancellation under GST. When GST officer can initiate Suo Moto Cancellation?

Get GST number. Register your business. Registered more than 1 lakh taxpayer. GST Act & Rules with related provisions. Applicable GST Rates. Apply GST registration. GST cancellation process followed by tax officer. How the status of GSTIN can be changed from ""Suspended to Active""?"…

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Added by Tax Gyata on September 7, 2021 at 12:40pm — No Comments

Taxability of derivatives, futures and forward contracts in GST

Know everything about GST on derivatives, futures and forward contracts. Exemptions available to derivatives under GST. Get GST number. Register your business. Registered more than 1 lakh taxpayer. GST Act & Rules with related provisions. Applicable GST Rates. Apply GST registration. Documents required for futures contracts in GST regime CGST Act specifically excludes securities from the definition of Goods. As per Section 2(52), Goods means any movable property except money and…

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Added by Tax Gyata on September 7, 2021 at 12:39pm — No Comments

A complete guide to GST on export of goods or services

Know everything about GST on exports.What is a meaning of export of goods or services? Exemptions available to exports under GST. Get GST number. Register your business. Registered more than 1 lakh taxpayer. GST Act & Rules with related provisions. Applicable GST Rates. Apply GST registration. Documents required for exports in GST regime In exports, goods or services produced in the domestic country sold to persons residing in a foreign country. Governments encourage exports. Exports…

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Added by Tax Gyata on September 7, 2021 at 12:37pm — No Comments

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