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Return Archives - All About Finance

Petrol Pump retail outlets are not liable to file MVAT return – Notification

FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 23rd October 2020 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT, 2002, No. VAT/1520/CR-73/Tax-1.—Whereas, the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005 and to … Read more

Registered person to furnish a return for every quarter from January, 2021 subject to conditions

S.No.608 [No.84/2020–Central Tax] Dated: 10th November, 2020 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs G.S.R. 700(E).- In exercise of the powers conferred by proviso to sub-section (1) of section 39 read with proviso to sub-section (7) of section 39 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in … Read more

GST and JOHNNY- UPDATE No.70

There is good news for every taxpayer who has felt a need of revision facility of GST returns. Few days back, government has provided a new facility on GST portal to file amendment in returns. This facility can be accessed using Services>Returns Dashboard >File Amendment Return. This facility has been introduced after the pronouncement of … Read more

GST Council approves principles for filing of new return

GST Council approves principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification. The key elements of the new return … Read more

GST Update on “Saved”, “Submitted” and “Filed” in various GST Returns

GSTR 1 prescribes the details to be provided by the taxpayer in relation to outward supplies made to the buyer for the relevant period. GSTR 1 needs to be filed by every taxpayer except Composition Scheme taxpayers, Non-Resident Foreign taxpayers, TDS deductors, E commerce Operators and Input Service Distributors as there are separate returns for … Read more

The procedure for reconciliation of information furnished in FORM GSTR-3 and FORM GSTR-3B

Circular No. 7/7/2017-GST No. 349/164/2017/-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 01st September, 2017 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All) The Principal Director Generals/ Director Generals (All) Subject: System based reconciliation of information … Read more

GST return filing dates of July 2017 is extended – GST Council

Recommendations made by the GST Council in the 21st meeting at Hyderabad on 9th September, 2017 The GST Council, in its 21st meeting held at Hyderabad on 9th September 2017, has recommended the following measures to facilitate taxpayers: a)In view of the difficulties being faced by taxpayers in filing returns, the following revised schedule has been approved: … Read more

GOI has extended the time limit for furnishing GST return for the month of July and August 2017

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 29/2017 – Central Tax New Delhi, the 5th September, 2017   G.S.R. …..(E).— In exercise of the powers conferred by the second proviso … Read more

Inclusion of Interest Income in the Income Tax Return

Information regarding interest earned by individuals and business entities on term deposit is filed with the Income Tax Department by banks including co-operative banks and other financial institutions and State treasuries etc. Form 26AS reflects only those payments on which tax has been deducted and it can be viewed by the individual tax payer by … Read more