Auto-population of e-invoice details into GSTR-1
Update on auto-population of e-invoice details into GSTR-1 1. Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from...
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CBDT to validate UDIN generated from ICAI portal at the time of upload of Tax Audit Reports
The Central Board of Direct Taxes ( CBDT ) to validate Unique Document Identification Number ( UDIN ) generated from ICAI portal at the time...
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How to un-blocking of E-Way Bill (EWB) generation facility
Online filing of application (Form GST EWB 05) by the taxpayer for un-blocking of E-Way Bill (EWB) generation facility 1. In terms of Rule 138E...
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Salient features of Quarterly Return filing & Monthly Payment of Taxes Scheme
Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme 1.Who can opt for the scheme: Following registered person (hereinafter RP) can file...
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Blocking of E-Way Bill generation facility if taxpayer fails to file GSTR-3B returns/GST CMP-08 for tax periods of two or more
Update on Blocking of E-Way Bill (EWB) generation facility, after 1st December, 2020 16/11/2020 In terms of Rule 138E (a) and (b) of the CGST...
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E-Invoicing is mandatory for taxpayer having aggregate turnover exceeding Rs. 100 Cr.(w.e.f. 01-01-2021)
Updates on e-invoicing 17/11/2020 From 1-1-2021, Government has mandated e-invoicing for the taxpayers with aggregate turnover exceeding Rs. 100 Cr. (in any preceding financial year...
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Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards
Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards GSTN has earlier introduced Form GSTR-2B, a static statement with...
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Auto-population of e-invoice details into GSTR-1
Auto-population of e-invoice details into GSTR-1 Certain notified taxpayers have to prepare and issue their invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration...
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Set Off and Carry Forward of Losses
Set off of losses: Set off of losses means adjusting the losses against the profit or income of that particular year. Losses that are not...
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Carry forward and set off of losses in case of change in constitution of firm or on succession
Section 78 of the Income Tax Act: Carry forward and set off of losses in case of change in constitution of firm or on succession:...
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Section 75 of the Income Tax Act: Losses of firms
Section 75 of the Income Tax Act: Losses of firms: Where the assessee is a firm, any loss in relation to the assessment year commencing...
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Section 74A: Carry forward and set off of Losses under the head “Income from other sources”
Carry forward of losses: After making the appropriate and permissible intra-head and inter-head adjustments, there could still be unadjusted losses. These unadjusted losses can be...