N J Rajgor & Co. Tax Consultants

20/12/2021

AIS

17/12/2021

ITR

28/08/2021

GST New Rule!

02/05/2021

GST Important Updates!

23/02/2020

New Income Tax regime, invalid PAN to simple GST return: 5 changes from April 1

21/02/2020

17/02/2020

Update!

17/02/2020

Today, an interactive session on Union Budget was conducted by *FM in Hyderabad*. Majority of questions were from IDT. Key takeaways from *Indirect taxes* are as follows:
1) With regard to interest on gross liability/ net liability on delayed payment of GST, FM mentioned that bill for amendment to pay interest on net liability is passed by all the States except Telangana and West Bengal, so it is still under process.
2) With regard to ITC restriction @10% over and above 2A, FM mentioned that the buyer have to make proper arrangement with supplier. Before Oct'19 people have taken huge disadvantage of credits due to relaxed regime, even without supporting documents. Further she mentioned that GST law does not even allow such 10% of ITC. Hence, further relaxation cannot be given
3) No answer on refund of ITC on capital goods in case of refund application filed for accumulated ITC on inputs and services.
4) For MEIS policy for FY 2020-21, FM mentioned Govt is in process of making alternative scheme as present policy is WTO incompatible.
5) For system glitches in GST portal, she mentioned that such issues would be out once new returns, e-invoicing are in place from April 2020.
6) As even after 2.5 of implementation of GST, there are many doubts with taxpayers, she urged GST officers to spread awareness and clarifications in GST.
7) FM also mentioned that cancellation of registration and blockage of ITC is happening only in cases of suspected frauds.

14/02/2020

https://t.me/njrajgor

GST and Income tax Services:

08/02/2020

Budget update

04/02/2020

Nil returns in New GST scheme of retuen from 1st April

31/01/2020

IT Update