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SPECIAL PROVISIONS RELATING TO CASUAL TAXABL PERSON AND NON-RESIDENT TAXABLE PERSONS

The Goods and Services Tax (GST) Act, 2017, provides specific provisions for Casual Taxable Persons (CTPs) and Non-Resident Taxable Persons (NRTPs) to ensure a smooth and compliant tax administration. Here’s a summary of these provisions: Casual Taxable Person (CTP): Non-Resident Taxable Person (NRTP): Additional Provisions: Note: This is a simplified overview of the special provisions

PROCEDURE FOR REGISTRATION

Eligibility: Steps for Registration: 1. Determine your liability to register: 2. Gather required documents: 3. Apply for registration online: 4. Verification and Processing: 5. Download your registration certificate: Additional points: EXAMPLE Step 1: Eligibility Check Step 2: Gather Required Documents Step 3: Generate Temporary Reference Number (TRN) Step 4: Fill Online Application Form GST REG-01

REGISTRATION

PERSONS LIABLE FOR REGISTRATION Under the GST Act 2017, several types of persons are liable for registration. Here’s a breakdown: By Aggregate Turnover: By Existing Law: Other Cases: Special Provisions for Specific Cases: It’s important to note that this is a simplified overview, and specific regulations and exemptions may apply depending on the nature of

WHEN IS A PART OF PROPERTY IS SELF-OCUUPIED AND A PART IS LET OUT

When a part of a property is self-occupied and another part is let out, the income from the property is computed separately for each part. The part that is self-occupied is treated as a separate property, and the part that is let out is treated as a separate property. Self-occupied property For the part of

FIND OUT RENT ACTUALLY RECEVIED OR RECEVIABLE

The term “rent actually received or receivable” is used in the context of income tax to determine the taxable income from a rental property. This term is important because it determines the amount of rent that is subject to tax, as well as the amount of deductions that can be claimed against that rent. Actual

REASONABLE EXPECTED RENT [SEC.23 (1) (a)]

Section 23(1)(a) of the Income Tax Act, 1961, deals with the determination of the annual value of any property for the purposes of income tax. The annual value of a property is the hypothetical rent that the property could be expected to fetch if it were let out from year to year. Under Section 23(1)

INCOME FROM HOUSE PROPERTY

CHARGEABILITY [SEC.22] Section 22 of the Income Tax Act, 1961, deals with the computation of annual value of property consisting of buildings or lands appurtenant thereto. It states that the annual value of such property, other than the portions occupied by the owner for business or profession, shall be chargeable to income tax under

Provisional attachment to protect revenue in certain cases

Provisional attachment, as defined in various legal contexts, allows authorities to temporarily freeze or restrict access to assets to secure potential claims or debts before a final determination or judgment. In the context of tax regulations, provisional attachment to protect revenue in certain cases refers to a specific provision aimed at securing potential tax dues

Demand & recovery (chapter xv)

Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized for any reason other than fraud or any willful- misstatement or suppression of facts Under Section 73 of the Goods and Services Tax (GST) Act, 2017, “Determination of tax not paid or short paid or erroneously

Payments of tax and other amounts in instalments (under section 80) under GST Act, 2017

Section 80 of the CGST Act, 2017, empowers the Commissioner to allow a taxpayer to pay their GST liabilities and other amounts due in instalments, subject to certain conditions. Here’s a breakdown: Who can avail this facility under GST Act, 2017? What can be paid in instalments under GST Act, 2017? What are the conditions

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