Author: Study Notes 365
Industrial Trainees (CMA / CA) Required
Engagement of Management Industrial Trainees (CMA / CA) Bharat Electronics Limited a Navaratan and India’s premier professional Electronics Company intends to engage one Management Industrial Trainee with CMA / CA (intermediate) qualification for Machilipatnam Unit. Eligibility: • Candidates should have registered with ICMAI / ICAI and pass CA / ICWA (intermediate) • The Maximum age …
Industrial Trainee (Finance) for CMA Inter
The terms and conditions for the Industrial Trainee (Fin.) are as given below: Qualifications: Completed CMA (Intermediate) course from Institute of Cost & Works Accountant of India under Cost & Works Accountants of India Act-1959. No. of Post: One Duration: Maximum Permissible duration of Training would be 02 Years (Two Years) from the date of …
Vacancy For CMA INTER
Inviting Application for the CMA Intermediate qualified candidates as a Industrial trainee at THDC India Limited. Interested candidates may apply within: 9th September (2021) ADVERTISEMENT PDF : Interested candidates
Journal entry for rent paid/due?
We are private Ltd. co. We are paying Rs. 1200 p.m. as rent to our 1 director for using our office. What should be Journal entry and Payment entry for this. Should I credit directors account or rent payable account? What entry should I passed for March 2019 rent which was paid in April 2019?
Rescheduled Examination Date
1.The mode of examination will be online-centre based. 2. The provisions of Direct Tax Laws and Indirect Tax Laws, as amended by the Finance Act, 2020, including notifications and circulars issued up to 30th November, 2020, are applicable for June, 2021 term of examination for the Subjects Direct Taxation, Indirect Taxation (Intermediate), Direct Tax laws …
TRAINEE ACCOUNTANT
Organization CARE CONTAINERLINES PVT LTD Post TRAINEE ACCOUNTANT No of Posts 3 Qualification Intermediate Experience Fresher or Experience Age Limit 30 Place of Posting KOLKATA OR HOWRAH Salary Offered As per Institute Norms Apply Before 31-07-2021 Category General Address 4,CHOWRINGHEE LANE,KOLKATA-16. Email arijit@carecontainerlines.net Apply Now
Vacancy For CA/CMA – INTER/Graduate/Post Graduate As FSO
Job purpose: • Your main responsibility is to validate client data, analyze cash flow, portfolio and crude financial data provided by client, • and prepare draft income statement and balance sheet. You will work on computation of economic allocations and tax • returns, security analysis, other tax adjustments and tax return preparation for Hedge funds …
Vacancy For CA/CMA – INTER/Graduate/Post Graduate As FSORead More
Exam Postponed – Rescheduled
The Institute of Cost Accountants of India (ICMAI-ICAI) has postponed the Foundation, Intermediate and Final Course examination due to the Covid-19 induced lockdown in several states. The ICMAI, in a release said, “In view of the present acute pandemic situation arising out of the spread of Covid-19, it is hereby notified for information of all …
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CMA Trainee Required
1) Urgent Requirement of 5 CMA Trainee at our Lado Sarai, South Delhi Office. Pls forward your cv to ksnmandassociates@gmail.com. 2 ) We require a trainee (inter pass-out) who is pursuing CMA (new scheme of 2020) looking for 15 months of training in the office of our Client M/s Glocal View Infotech Private …
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CMA Exams 2021 : Plea In Supreme Court Seeks Cancellation Of ICMAI’s Online Tests For Alleged Malpractices
A writ petition has been filed in the Supreme Court seeking to cancel the home-based online tests of Cost Management Accounting(CMA) intermediate and final levelss held by the Institute of Cost Accountants of India(ICMAI) in January-February 2021. The petition filed by a student of Cost Management Accounting(CMA) Final course, who alleges widespread malpractices in the …
ICMAI CMA Result Jan, 2021 (Institute Of Cost Accountants Of India) Intermediate & Final Result
ICMAI CMA Result Jan, 2021 (Institute Of Cost Accountants Of India) Intermediate & Final Result | (Group – I & II) and Final (Group-III & IV) Result Date 2021 | Rank Card | Pass Percentage With Marks Sheet Download @icmai.in. The Institute of Cost Accountants of India Release CMA Result 2021 Score Card Rank Topper List …
CBIC notifies new rules for Monthly/Quarterly filing of GSTR 1
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 84/2020–Central Tax New Delhi, the 10th November, 2020 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 …
CBIC notifies new rules for Monthly/Quarterly filing of GSTR 1Read More
CBIC notifies time limit for furnishing FORM GSTR-1
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 83/2020–Central Tax New Delhi, the 10th November, 2020 G.S.R. 699(E).—In exercise of the powers conferred by the second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification …
CBIC notifies time limit for furnishing FORM GSTR-1Read More
CBIC notifies New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2B
CBIC has vide Notification No. 82/2020–Central Tax dated 10th November, 2020 amended/substituted and inserted GST Rules as follows:- 1. Substituted rule 59 related to Form and manner of furnishing details of outward supplies with effect from the 1st day of January, 2021 2. Substituted rule 60 related to Form and manner of ascertaining details of inward supplies with effect …
CBIC notifies New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2BRead More
CBIC rescinds notification related to due dates of filing GSTR-3B
CBIC rescinds notification No. 76/2020-Central Tax, dated the 15th October, 2020 vide which CBIC has notified Due dates of filing of GSTR-3B for the period October, 2020 to March,2021. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 86/2020–Central Tax New Delhi, the 10th November, 2020 G.S.R. 702(E).—In exercise of the powers …
CBIC rescinds notification related to due dates of filing GSTR-3BRead More
Due date for filing ITC-04 for July 2020 to September 2020 extended
Due date for filing ITC-04 (Job worker return), in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2020 to September, 2020 extended to 30th November 2020. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 87/2020–Central Tax New Delhi, the …
Due date for filing ITC-04 for July 2020 to September 2020 extendedRead More
GST E-invoicing mandatory from 01.01.2021 if TO exceeds Rs. 100 Crores
CBIC notifies that E-invoicing is mandatory from 01.01.2021 for every taxpayer (other than SEZ unit) whose aggregate turnover (TO) in any of the Financial Year from 17-18 exceeds Rs. 100 Crores. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 88/2020–Central Tax New Delhi, the 10th November, 2020 G.S.R. 704(E).—In exercise of …
GST E-invoicing mandatory from 01.01.2021 if TO exceeds Rs. 100 CroresRead More
Provisions relating to Quarterly Return Monthly Payment Scheme
Circular No. 143/13/2020-GST CBEC-20/01/08/2020-GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, dated the 10th November, 2020 To The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/Commissioners of Central Tax (All)/The Principal Director Generals/Director Generals (All) Madam/Sir, Subject: Quarterly Return Monthly Payment Scheme – Reg. As a trade facilitation measure and …
Provisions relating to Quarterly Return Monthly Payment SchemeRead More
GST Form-2B – Auto-drafted ITC
CBIC has inserted new FORM-2B – Auto-drafted ITC Statement- under 60(7) vide Notification No. 82/2020–Central Tax dated 10th November, 2020. Please find bellow the format of New Form-2B Auto-drafted ITC Statement, Advisory and Instruction for filing of the same. 1. Terms Used :- a. ITC – Input tax credit b. B2B – Business to Business c. ISD …
CBIC notifies New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2B
CBIC has vide Notification No. 82/2020–Central Tax dated 10th November, 2020 amended/substituted and inserted GST Rules as follows:- 1. Substituted rule 59 related to Form and manner of furnishing details of outward supplies with effect from the 1st day of January, 2021 2. Substituted rule 60 related to Form and manner of ascertaining details of inward supplies with effect …
CBIC notifies New rules for Inward/Outward Supplies, GST Returns & New form GSTR 2BRead More
Blocking of E-Way Bill (EWB) generation facility for taxpayers after 15th October, 2020
Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Cr., after 15th October, 2020 In terms of Rule 138 E (b) of the CGST Rules, 2017, the E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their GSTR-3B returns, …
Blocking of E-Way Bill (EWB) generation facility for taxpayers after 15th October, 2020Read More
GST Collections Rise To ₹ 95,480 Crore In September, Highest Since Lockdown
In September 2020, the tax collections from import of goods and domestic transaction were 102 per cent and 105 per cent, respectively, of the revenues from these sources during the same month last year. New Delhi: The government’s collection of Goods and Services Tax (GST) climbed to ₹ 95,480 crore in September, in signs of economic revival …
GST Collections Rise To ₹ 95,480 Crore In September, Highest Since LockdownRead More
HSN Code Mandatory from 01.04.2021
With effect 01st April 2021 CBIC notifies that a dealer registered under GST has to mention 4 digit of Harmonised System of Nomenclature Code (HSN Code) if his Aggregate Turnover in the preceding Financial Year is up to rupees five crores and he has to mention 6 Digit of HSN Code if Turnover in the …
How to opt for the Composition Scheme in GST?
1. How to opt for the Composition Scheme in GST? You can opt for the Composition Levy under GST if you are a regular taxpayer with an aggregate annual domestic PAN-based turnover as specified from time to time. However, you cannot opt for the Composition Levy if you are/you make: – any supply of goods …
GST e-invoicing – Relaxation and latest changes
e-invoicing – Relaxation and latest changes 1. ‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020. 2. Keeping in view the hardships faced by the taxpayers due to COVID-19 lockdown and as some of these taxpayers are still not ready, as a last chance, Government had given relaxation that invoices raised by …
Section 206C(1H) TCS to be charged on Invoice or not by Seller?
As per finance Act 2020, section 206C (1H) is introduced by government. It states that every person whose turnover in preceding financial year is more than 10 crore and in previous year, consideration received from any customer of more than 50 Lakh, then seller is required to collect TCS at 0.1% from customer. The Section States that: …
Section 206C(1H) TCS to be charged on Invoice or not by Seller?Read More
Dynamic QR Code on B2C invoices requirement deferred to 01.12.2020
Implementation of requirement of Dynamic QR Code on B2C invoices deferred to 1st December 2020. Notification 71/2020-Central Tax dated 30.09.2020 issued. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 71/2020–Central Tax New Delhi, the 30th September, 2020 G.S.R. 602(E).—In exercise of the powers conferred by sixth proviso to …
Dynamic QR Code on B2C invoices requirement deferred to 01.12.2020Read More
GST E-Invoice- CBDT amends rules related to IRN & QR Code
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 72/2020–Central Tax New Delhi, the 30th September, 2020 G.S.R. 603(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the …
GST E-Invoice- CBDT amends rules related to IRN & QR CodeRead More
CBIC amends rules related to E-Invoice Under GST
CBIC notifies registered person, other than a Special Economic Zone unit and those referred to in sub-rules (2), (3), (4) and (4A) of rule 54 of the said rules, whose aggregate turnover in any preceding financial year from 2017-18 onwards exceeds Five hundred crore rupees, as a class of registered person who shall prepare invoice and other prescribed documents, in …
E-Invoice under GST for turnover above 500 crore, SEZ excluded
E-invoicing mandatory for registered person having turnover above INR 500 Crore e-invoice under GST is applicable for assessee’s having turnover in a financial year above Rs. 500 crore with effect from October 1, 2020 and SEZ units are excluded from e-invoicing. Notification No. 61/2020–Central Tax Dated: 30th July, 2020. Irrespective of the turnover, e-invoicing shall …
E-Invoice under GST for turnover above 500 crore, SEZ excludedRead More
GST E-Invoice exemption & Deferment of implementation date notified
Notification No. 13/2020–Central Tax – Seeks to exempt certain class of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to 01.10.2020. Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 13/2020–Central Tax New Delhi, the 21st March, 2020 G.S.R. 196(E).—In exercise of the powers …
GST E-Invoice exemption & Deferment of implementation date notifiedRead More
Analysis of GST Notifications dated 30th September, 2020
Analysis of GST Notifications dated 30th September, 2020 (1) Extension of Due Date to File GST Annual Return (GSTR 9) & GST Audit (GSTR 9C) (NN 69/2020 – CT dated 30th September, 2020) In order to provide relief to businesses grappling with the economic impact of COVID 19, the government on Wednesday i.e. 30th September, 2020 has …
Analysis of GST Notifications dated 30th September, 2020Read More
Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register
Using Matching Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register Using Matching Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register 1. An offline tool has been made available to the taxpayers to match Input Tax Credit (ITC), as auto populated in their Form GSTR-2B, with …
Offline Tool to compare ITC auto drafted in Form GSTR-2B with Purchase Register Read More
Extend due date for IRT AY 2019-20
CBDT extends the due date for furnishing of belated & revised ITRs for AY 2019-20 to 30th November 2020 On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 …
TCS on Sale of Goods Section 206C(1H)- Income Tax Act, 1961
TCS on Sale of Goods Section 206C(1H)- Income Tax Act, 1961 ♦ Introduction to Section: -Section 206C of the Income Tax Act provides for the collection of Tax at Source (TCS). –TCS is collect on specified goods like Alcoholic Liquor for human consumption, tendu leaves, scrap etc. -In order to widen and deepen the tax, a two …
TCS on Sale of Goods Section 206C(1H)- Income Tax Act, 1961Read More
Due date for GSTR-9 and GSTR 9C for 2018-19
Due date for GSTR-9 and GSTR 9C for 2018-19 CBIC finally extends the due date for GSTR-9 and GSTR 9C for 2018-19 to 31st Oct 20 After obtaining due clearances from the Election Commission in view of the Model Code of Conduct, Government has extended due date for furnishing Annual Return in GSTR-9 and GSTR …
CBIC finally extends the due date for GSTR-9 and GSTR 9C for 2018-19 to 31st Oct 20
In another instance of due date being extended on the last day, after obtaining due clearances from the Election Commission in view of the Model Code of Conduct, Government has extended due date for furnishing Annual Return in GSTR-9 and GSTR 9C for 2018-19 from 30.09.2020 to 31.10.2020. Notification follows.
All about GSTR-2B
The GST Council, in its 39th meeting held on 14th March 2020, had recommended to adopt and implement linking of GSTR-1 & GSTR-2A with GSTR-3B. As we know GSTR-2A is a dynamic return, so to solve this issue, GSTR-2B has been introduced. 1) What is GSTR-2B? Ans: – It is a static form of GSTR-2A, which is auto-drafted Input Tax …
ITC Statement Form GSTR-2B, made available on GST Portal for taxpayers
29/08/2020 GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis of the information furnished by their suppliers, in their respective Form GSTR-1 & 5 and Form GSTR-6 filed by ISD. Taxpayers can now reconcile data generated in Form GSTR-2B, with their own records and books of accounts. Using this reconciliation, they can …
ITC Statement Form GSTR-2B, made available on GST Portal for taxpayersRead More
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Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat …
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Suspendisse rutrum massa at ornare egestas. Nam euismod maximus est eget bibendum. Ut quis tellus faucibus, lobortis metus ac, vehicula odio. Suspendisse volutpat, purus ut porttitor dignissim, eros lectus volutpat metus, nec placerat massa turpis sed urna. Mauris malesuada aliquet justo a viverra. Suspendisse sed ornare tellus. Proin in nulla dignissim, viverra nulla vitae, malesuada …
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