A2Z Tax And Accounts

FY 2022-23 ITR भरना स्टार्ट हो गई है

After 27th GST COUNCIL
1.Existing system will continue for 6 months.
2.New model will be introduced after 6 months.
* Quarterly returns for composition and NIL turnover dealers.
All other will have to file one monthly returns.
*Tallying of B2B invoices will be mandatory like originally introduced system.initial 6 months period will be allowed for provisional matching and reconciliation etc, after which mandatorily implementation will be done.
*In case of bogus or defaulted dealer, tax would be charged from subsequent buyer BUT after giving notice and hearings...
Sugar cess is going to imposed(committee considering) for sugarcane producers.

IMPORTANT UPDATE
From Financial Year 2017-18, if Return is not filed within due date, late fee of Rs.5,000 for delay up to 31st December, and Rs.10,000 thereafter. Such fee will be restricted to Rs.1,000 for small taxpayers with income up to Rs.5 lakh.
Due dates:
31st July 2018(Non tax audit assessees)
30th Sept 2018(Tax audit assessees)