CAclubindia Articles
All About GSTR-1
GSTR-1 is a monthly or quarterly return that should be filed by every registered GST taxpayer, except a few as given in further sections. It contains details of all outward supplies i.e sales.
GSTR-1 : Eligibility, Format, Return Filing and Late Fees involved
GSTR 1 contains the details of the outward supply of goods, services, or both. GSTR-1 can be filed monthly as well as quarterly.
GSTR-1 Niggles that can be significant
The GSTR-1 filing schedule of Taxpayers whose turnover is above Rs.1.5 Crores is hectic that the GSTR-1 for the months of July, August, September and October
Section 194O | TDS on E-commerce Operator
Discussing Section 194O of the Income Tax Act, which deals with the TDS on E-commerce Operator including its meaning, rate of TDS, and recent amendments etc.
Section 194O: TDS on Payments made to E-Commerce Participants
According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant. Know more about the section here.
TDS on E-commerce Operator (including Practical Case Studies)
Any person, being an e-commerce operator facilitating the sale of goods or services of an e-commerce participant through its digital or electronic facility or platform is responsible to deduct TDS u/s 194O.
Section 194O- TDS on payment by e-commerce operator to e-commerce participant
TDS u/s 194-O is to be paid by an e-commerce operator for sale of goods or provision of service facilitated by it through electronic facility or platform. TDS u/s 194O is paid @ 1% at the time of credit of amount of sale or service or both to the account of e-commerce participant or at the time of payment thereof to such participant by any mode, whichever is earlier.
TDS Impact on E-Commerce Transactions
Finance Bill, 2020 proposed to Insert sec 194-O, where E-commerce Operator ("Operator") liable to deduct TDS from payment made to E-commerce participant ("Participant") in respect of sale of goods or services or both facilitated by operator through its digital or electronic platform, at rate of 1%, at time of credit or payment w. e. earlier.
TDS Section 194O | TDS on e-commerce operator
TDS Section 194O | TDS on e-commerce operator
Responding to ITC Alerts: Rule 88D
After notification No. S.No.851 [No.38/2023-Central Tax] Dated August 4, 2023, CGST Rule 88D was amended and a mechanism was outlined for system-based notification in the cases where the excess ITC claimed in GSTR-3B was compared to that shown in GSTR-2B.
Popular Articles
- Individual Income Tax Return Filing Due Dates for FY 2025-26 (AY 2026-27)
- Section 44ADA of the Income Tax Act: Latest Rules and Questions Every Professional Asks
- New Column in ITR For AY 2026-27:
- GST Updates: Last Chance for Taxpayers to Complete FY 2025-26 Process
- PNB FD Interest Rates 2026 for 444 days: Maximize Your Returns Without a Long Lock-In
- AIS Income Tax Transactions: What to Report and What to Skip in AY 2026-27?
- Income Tax Demand Notice 143(1): Know Why You Received It and What to Do Next?
- GST Composition Scheme for FY 2026-27: Eligibility, Rates, and Compliance Explained
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
