GST RFD-01 A form is introduced by GSTN for online processing of refund under GST.Who can file the GST Refund Application?The application for refund can be filed by any taxpayer in favor of whom the refund order has been issued.2) Filing of GST refund Application by unregistered person:An Unregistered person can file GST refund Application by his temporary login.3) No separate application for refund of GST deposited under the CGST/SGST/IGST for a refund order:If the refund order is the same for the CGST/SGST/IGST, a single refund application can…

1) TCS under GSTTCS under Goods and Service Tax refers to the tax which is collected by the e-commerce operator when a supplier supplies some goods or services through its portal and the consideration for such supplies is collected by the electronic commerce operator. The Rate of TCS to be collected by an e-commerce operator is 1% under the IGST Act (0.5% under the Central GST Act and 0.5% under the State/Union Territory GST Act). However, tax is not collected on exempt supplies and import of goods/services and supplies on which the tax is…

For the better security of a person’s Aadhar number, the Unique Identification Authority of India (UIDAI) has recently introduced the facility of Masked Aadhar whereby only the last four digits of a person’s 12 digit Aadhar number will be shown. While the regular Aadhar shows all the 12 digits of our Aadhar number, the first 8 digits will remain protected in the masked Aadhar. Any such person, who does not want to disclose his /her Aadhar number, can use the option of masked Aadhar. However, other information like photograph, demographic information…

Professional tax is a type of direct tax levied and collected by the State government on any person engaged in any kind of profession. In India, rates and method of collecting professional tax varies from state to state. Also, some states in India do not impose this tax. Professional Tax in Karnataka is levied under the Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976. Who must Pay Professional Tax?According to the provisions of this act, every single person who is carrying on any profession, calling, and trade whether…

Karnataka Shops and Establishment Act and who needs to RegisterThe Karnataka Shops and Establishment Act apply to the whole state of Karnataka and has been enacted to regulate the conditions of work and employment in shops and commercial establishments/undertakings in Karnataka. As per the provisions of Karnataka Shops and Establishment Act,• The employment of children below 14 years of age at any establishment is prohibited.• Young persons (anyone who has completed the age of fourteen) and woman shall not be employed to work in any establishment…

Supply under the Goods and Service Tax means the supply of goods and services of any form by a person to another person for some consideration. This concept includes two types of supplies: mixed supply and composite supply. Though these words are often used interchangeably, there is a glaring difference between the two. The tax liability for both the supply as per the new GST rules is also different. Here is a brief description of both the types of supply: Composite Supply under GST: Under GST, a composite supply concept is very identical…

A new facility has been enabled on GST portal wherein a claim of refund for an amount of INR 1,000 or more on account of excess payment of tax for the normal and casual taxpayers filing form GSTR3B, composite taxpayers filing form GSTR 4 non-resident taxpayers filing form GSTR 5. Steps to claim the refund on GST portal: A taxpayer can claim the refund of any excess amount paid as a tax on the official website of GST. However, the application for claiming refund shall be made by the taxpayer before the expiry of 2 years from the relevant…

Class 3 Digital Signature is used for e-tendering and is considered to be the signature of the highest level. The importance of the Class 3 DSC lies in the fact that it enables safety of the user. An Individual who is applying for tenders through e-tendering route would always want to know that his transactions are safe. Class 3 Digital Signature has been designed to do exactly the same. There are two validity period of Class 3 Digital Signature – One year and Two Years. According to the Information Technology Act, Class 3 Digital Signatures…