Articles by Lekhraj sood
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How to reconcile GTR2B with Purchase Register
Lekhraj sood 23 September 2020 at 10:00How to reconcile GTR2B with Purchase Register
Consolidated debit/credit note enabled on GST Portal
Lekhraj sood 16 September 2020 at 09:38Consequent to amendment to section 34 of CGST Act,2017 through CGST (Amendment) Act, 2018 which was made effective from February 1, 2019 , one credit note can be issued against one or more relevant tax invoices.
No GST payable on recoveries from employees towards transport facility
Lekhraj sood 15 September 2020 at 17:04AAR Maharashtra vide its order GST-ARA-23/2019-20/B-46 dated AUGUST 25, 2020 in the case of Tata Motors Limited rules that no GST is payable by the applicant on the nominal amounts recovered from its employees for availing transportation service for commuting to office in view of the fact that this transaction is not a supply as being covered under Schedule III of the CGST Act.
Faceless Assessments under Customs from 1st November,2020
Lekhraj sood 08 September 2020 at 09:43By 31st October 2020 the faceless assessment process will be implemented in all the custom ports under the next generational Turant Customs programme
New Standards on Forensic Auditing
Lekhraj sood 02 September 2020 at 16:33ICAI is working to develop the standards for forensic accounting and investigation (FAIS). These are expected to be completed by December 2020.
Composition Scheme under GST- Is it really beneficial?
Lekhraj sood 10 August 2020 at 10:06Taxpayers eligible for composition scheme opt for it for the reason of lesser GST compliances but miss out on other important factors and consideration which have significant impact on their business.
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