Refund Claims under GST for Tax and Input Tax Credit (ITC)

By: Mr. Harshit Mogra - 9th November, 2020


Accumulation of Input Tax Credit occurs when the tax paid on inputs exceeds the output tax liability. In such a case, the excess amount has to be carried forward to the next financial year, so it could be used to pay the output tax liability by the registered individual. The GST Law also permits refund ofunutilised ITC in certain cases.

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Point of Supply

By: Mr. Harshit Mogra - 5th November, 2020


Point of taxation or the time of supply is the time when goods have been supplied and services have been provided or are deemed to be supplied and provided.

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An Overview Of Section 206C(1H)

By: Gauri Sham Deshpande - 24th September, 2020


Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported out of India or goods covered in sub-section (1) or sub-section (1F) or sub-section (1G) shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 0.1 per cent of the sale consideration exceeding fifty lakh rupees as income-tax.

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General FAQs on Income Tax

By: Mr. Shashank Mundle - 25th February, 2020


It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.

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Using file systems to enhance performance of Income Tax Business Application (ITBA)

By: Mr. Deepak Gupta - 17th December, 2019


When files are uploaded by assessee in the ITBA it is stored in the ITBA database with limitations on number and size of files uploaded.

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