TCS (Tax Collected at source)
New Section Introduced 206C (1H), Applicable w.e.f. 01-10-2020 The Government of India has introduced a new Section 206C(1H) of the Income Tax Act, 1961 with regards to “Tax Collection at Source”. Applicable to all sellers of goods whose turnover for the preceeding Financial Years exceeds Rs. 10 Crores rupees. (Example:- If during FY 2019-20, turnover […]
Introduction of GSTR-2B
GSTR-2B is an auto-drafted ITC statement generated for every registered person based on GSTR-1, 5, and 6. GSTR-2B is a static statement available for each month on the 12th of the succeeding month GSTR-2B for a month contains all documents filed by suppliers between the due dates of furnishing of GSTR-1 for the previous month to […]