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Showing posts from June, 2022

CBDT notifies challan-cum-statement Form 26QE for payment of tax deducted on VDAs

 Warning No. 67/2022, dated 21-06-2022 The Focal Leading body of Direct Charges (CBDT) has advised Personal duty (19th Amendment) Rules, 2022 revising the Annual assessment Rules, 1962 to integrate changes presented by the Money Act, 2022 connected with TDS. The Board has revised existing Standards 30, 31 and 31A, annexure to Shape No. 26Q, and Structure Nos. 26QB, 26QC and 26QD. The board has additionally embedded new Structure nos. 26QE and 16E also. The key changes presented by the CBDT vide Annual duty (nineteenth Amendment) Rules, 2022 have been explained underneath: 1. Charge deducted on VDA to be kept in challan-cum-articulation in Structure 26QE Another sub-rule (2D) has been embedded in Rule 30 which accommodates installment of expense deducted at source (TDS) under area 194S. Segment 194S gives that any individual, liable for paying to an inhabitant any total via thought for the exchange of a virtual computerized resource (VDA), will deduct charge at the pace of 1% of such ag


GSTR-1 GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made. In other words, it contains the invoices and debit-credit notes raised on the sales transactions for a tax period. GSTR-1 is to be filed by all normal taxpayers who are registered under GST, including casual taxable persons. Any amendments to sales invoices made, even pertaining to previous tax periods, should be reported in the GSTR-1 return by all the suppliers. The filing frequency of GSTR-1 is currently as follows: (a) Monthly, by 11th* of every month- If the business either has an annual aggregate turnover of more than Rs.5 crore or has not opted into the QRMP scheme. (b) Quarterly, by 13th** of the month following every quarter- If the business has opted into the QRMP scheme. *Till September 2018, the due date was the 10th of every month. **Till December 2020, was the end of the month succeeding the quarter. GSTR-2A GSTR-2A is a view-only dynamic GST return releva