The objective of the GST system’s refund provisions is to harmonise and standardise the processes involved in filing returns. Businesses or individuals must file a refund claim using the appropriate forms, such as Form GST RFD-01, along with supporting documentation in order to be eligible for...
Failure to provide the required paperwork. Unpaid self-assessment tax obligations. Not submitting tax returns. Random examination by the evaluating officer. Long-term capital gains from equities investments are not accurately reported. Concealment of income. The reported TDS amount is incorrect. Submittin...
If you are unable to submit these forms, you can still claim a TDS refund at the time of filing your year-end tax returns. There are also some ways to save on tax on FDs. A post office FD is one way as it does not attract any TDS deduction. You can divide the amount and put ...
GST PMT-02 Electronic credit ledger ITC as self-assessed in monthly returns shall be credited to the ledger. GST PMT-03 Refund to be recredited If a refund is rejected, the amount debited from the electronic credit ledger or electronic cash ledger, as applicable, will be recredited upon the...
After this the status of the ITR filed will be displayed there. It will also show you the date of issue of tax refund, amount refunded and clearance of any refund due for this assessment year. Check like this from NSDL website…
transferred by your provider on the premise of GSTR 1. GSTR 7A is the return that has to be filed by the tax deductor about tax deducted at source.Deductor is required to file the return and has to provide the detail of amount of TDS in his return. GST registered person has to ...
specified period of time and claim the refund in the revised return. When you file the ITR if tax paid is more than tax due you would see the income tax refund amount due to you as shown in the image below. The following image shows of ITR1 in excel which has the refund of Rs ...
Late Filing Fee:If you file your ITR after the due date, you will have to pay a late filing fee. Interest on Tax Liability:If you have any outstanding tax liability, you must pay interest on the unpaid tax amount. Disallowance of Deductions:Certain deductions and exemptions, such as the ...
How to calculate chargeable weight for airfreight in exports? How to calculate weight for airfreight. Why carriers balancing weight and volume while charging freight amount in Exports? House Bill of Lading HBL and Master Bill of Lading MBL ...
Under section234B, penalty arises when the total amount of advance tax paid along with the amount of TDS is less than 90% of the total tax liability.In such a case, interest is calculated at 1% per month of the amount of shortfall for the time period from April to the month in which...