The government has extended the Income tax return filing date till August 31st, 2018 which means that you get more time to file the return carefully and ensure that there are no mistakes. However, in case you have received the notice from the Income Tax Authority, there is a process to go about it. Recently, there have been an increase in the number of Income tax notices sent by the department due to changes made in the income tax rules about which most of the income tax payers are not aware. Section 143(1) – Customary Notice - You don’t…

Being July 1st 2017  date fixed for GST roll out all over India many of us are worried about GST preparedness??  We have one good opportunity with GST training in Bangalore DBA Cosmic IT services pvt. Ltd. Bangalore with it's 16 years of rich industry experience in US and Indian financial market has launched 3 days and 2 days GST training session from 3rd of July to 7th of July  2017 . Following are the topics covered in these 5 days: One more greater advantage you will have once you attend session and write exam you will get Certificate…

A registered dealer should file the GST returns in time, else it could attract the GST late fees and penalty. For instance, earlier a registered dealer should have filed the GSTR-1 return due for months of July to Nov 2017 and July to September 2017 by 10th Jan 2018. In case the details are missing, he would now be liable to pay late fees for Rs 200 (has changed after the CBEC notification about the same as on March 7th 2018) on the daily basis for the number of days that have passed after the due date until the day of finally filing the return. Further,…

Many of the GST users getting error as  " Checksum Validation : Failed " while offsetting liability ..in GSTR 3B filing. This is error from GST portal only and no need to panic. I have checked with GSTN help desk who claim team is working on this issue and it will be fixed soon. Generally this happens on the day when you make online payment and try to do Offset liability next day or else wait for GSTN team to fix the error. Like this there are many errors which GSTN throws up specially during peak filing season. It is always advisable to plan…

Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise and Customs] Notification No. 71/2017 - Central Tax New Delhi, the 29. December, 2017 G.S.R. (E):- In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), and in supersession of notification No. 57/2017 -Central Tax dated the 15. November, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1413 (E), dated the 15. November, 2017,…

Getting this error while filing GSTR-1 " Summary for Filing is not Generated or is not available at this time. Please try again later" As GSTR-1 filing deadline for July, August and September 2017 is 31st of December 2017 may of the GST user's are able to submit GSTR-1 but not able to file the same. Once they click on file return getting message as "Summary for Filing is not Generated or is not available at this time. Please try again later" I have checked with GSTN helpdesk and they claim this is an error from GSTN and send screenshot of the…