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E-Way Bill-Unblocking || CommerceCurves
E-Way Bill-Unblocking || CommerceCurves
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When a taxpayer has not filed the GSTR3B for two & more consecutive months on the GST Portal, EWB system will block the GSTIN of the taxpayer. Then he/she cannot generate e-way bills either as a consignor or consignee, resulting in a standstill.
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‘in case these process didn’t work, taxpayer can reach out to the GST Help Desk’
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CommerceCurves|| Form GST EWB-05||
CommerceCurves|| Form GST EWB-05||
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Thank You For Reading || Like, Share & Subscribe || Comment For Queries
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TCS||Section206C(1H)||CommerceCurves
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The new provisions of TCS have come into force with effect from 1 October 2020 and according to it if your turnover is more than 10 crores in the Previous financial Year, then this year you will have to collect and deposit TCS on your receipts from sale of goods from such buyers from whom you received more than Rs. 50 Lakhs as sale consideration during the Current Financial…
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ITR ll AY 2019-20
Last Date Of Filing And Revising Income Tax Return For AY 2019-20 Further Extended To 30th November,2020
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AGM||DueDateExtended||CommerceCurves
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LatePaymentInterest||TDS||CommerceCurves
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Deduction||Section80TTA ||CommerceCurves
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Section 80TTA provides a deduction on savings interest earned up to Rs. 10,000 per annum (senior citizen can take advantage of Rs. 50,000 p.a on both savings & FD interest under section 80TTB). This deduction is available to an individual and HUF.
Deduction is allowed on interest earned –
From a saving account with a bank
From a savings account with co-operative…
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NewFacility|Table8AFormGSTR-9|CommerceCurves
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Section44ADA || CommerceCurves
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(Disclaimer: After reading article, please refer government publications for any amendments)
Post By: Varsha Sharma
Dated: 18th August, 2020
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Section10A|Companies Act, 2013|CommerceCurves
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History & Re-Introduction of Section 10A
Commencement of Business Section 10A of the Companies Act, 2013 is a newly inserted section by the Companies (Amendment) Ordinance, 2019. The provision of commencement of business has old origin. However, this provision was deleted by the Companies Amendment Act, 2015 with effect from 29th May,2015. Deleted section 11 of the…
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DeductionU/sSection80D:CommerceCurves
Section 80D deduction can be claimed over and above the deductions availed under sections 80C/CCC/CCD by every individual or HUF for their “Medical Insurance”.
You can claim a tax deduction for the medical insurance premium for self, spouse, dependent children & parents. A deduction to the extent of Rs. 25,000 is allowable and an increased deduction of Rs. 50,000shall be allowed in case any of…
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Blog19:GSTdataRemoved:CommerceCurves
GST was introduced in July 2017. In July 2020 GST regime completed it’s 3 years. No-where in law it was mentioned that GSTN would conserve data for 3 years but while viewing The Electronic Register the portal is showing “Maximum period selected for which the ledger can be viewed is for last 3 years”. Now on 1st August 2020 data of Electronic Liability Register for July 2017 has been removed from…
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Blog18:Section44AD:CommerceCurves
The presumptive taxation scheme of section 44AD is outlined to give relief to all small taxpayers engaging in any businesses whose total turnover/ gross receipts do not exceed Rs. 2 crores.
except the following businesses:
The business of plying, hiring and leasing goods carriages covered u/s 44AE
A person carrying on profession as referred to in section 44AA (1)
A person who is carrying on…
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Blog17:ReverseChargeMechanism:CommerceCurves
Supplier who supplies goods or services or both
Receiver who receives goods or services or both
Normal mechanism of levy of GST:
Where supplier who supplied goods or services or both is liable to pay GST with government.
Reverse Charge Mechanism (RCM)
Where instead of supplier, Recipient of goods or services or both will deposit GST with government and makes payment to supplier without…
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Blog16:DividendDistributionTax:CommerceCurvess
Taxation on Dividends till FY 2019-20 (AY 2020-21): Till date no dividend income taxed in the hands of shareholders except for the certain categories of taxpayers where dividend income exceeds Rs. 10,00,000. And the companies which declares dividend must pay DDT under section 115-O of the Income Tax Act, 1961.
However, with latest amendment brought up in the finance bill, the dividend incomes…
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