During investigation payment made using DRC-03 can’t be used as pre-deposit while filing GST appeal: Para no 2 of CBIC 240137/14/2022-service tax section-CBEC Dated 28.10.2022

Note:In stax regime amount paid during investigation/enquiry was allowed as pre-deposit for appeal

Let's understand about TDS Section 194-IB in a simple way.

This section is very peculiar as it is applicable to those who are generally excluded from TDS provisions.

For the purposes of this section, "rent" means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land or building or both

The provisions of section 203A relating to requirement of obtaining TAN No. shall not apply to a person required to deduct tax in accordance with the provisions of this section.

Statutory Compliance Calendar (Due Dates) for the month of November 2022

Also note, due date for the following:
a. GSTR-7 TDS Deductor - Oct 2022 : 10/11/22
b. GSTR-8 TCS Deductor - Oct 2022 : 10/11/22
c. GSTR-6 Input Service Distributor - Oct 2022: 13/11/22
d. Filing of Income Tax Return for AY 22-23 for Transfer Pricing Cases - 30/11/22

GST collections touched Rs 1.52 lakh crore in Oct 22

A thread about 'TAN' to help you understand what is TAN & its structure

18 tips to get clients for your tax office for free and earn 25 lacs+

Click https://youtu.be/9_tB5CgPyPs

Learn about the structure of PAN

Lets learn about Electronic Cash Ledger through this 🧵

Every deposit made by a person by internet banking or by using credit or debit cards or NEFT or RTGS or by over the counter deposit on account of tax, interest, penalty, fee or any other amount is credited to the respective electronic cash ledger.

The amount available in the electronic cash ledger may be used for making any payment towards tax, interest, penalty, fees or any other amount payable.

UK High Court ordered diamond merchant Nirav Modi's extradition to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the PNB loan scam case.

Lets learn about Electronic Credit Ledger through this 🧵

All eligible Input Tax Credit that is claimed by a registered dealer in the GST returns (GSTR-2B or GSTR-3B) reflects in Electronic Credit Ledger.

Credit in Electronic Credit Ledger can be used only for payment of tax.

Do note, CGST input tax credit cannot be utilized towards payment of SGST/UTGST liabilities &

SGST/UTGST input taxed credit cannot be utilized towards payment of CGST liabilities.

GST Update:

11th November i.e Today is the due date for filing GSTR-1 (Monthly) for the month of October 2022.

Do file it on time to avoid any late fees.

Exempt Exempt Exempt Investments under section 80C of the Income Tax Act and its understanding