Transcription of SUPPLEMENTARY
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SUPPLEMENTARY PAPER 11 INDIRECT TAXATION (Syllabus 2016) (Applicable for June 2021 & December 2021 Examinations) The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) The Institute of Cost Accountants of India 1 SUPPLEMENTARY_JUNE 2021 & DECEMBER 2021_PAPER - 11 PART I GOODS AND SERVICES TAX The Institute of Cost Accountants of India 2 SUPPLEMENTARY_JUNE 2021 & DECEMBER 2021_PAPER - 11 INPUT TAX CREDIT Restriction on a ailment of ITC, Rule 36(4) of the CGST Rules, 2017: * 1-1-2021, @5% (from 1-1-2020 to 31-12-2020 @10%, from 9-10-2019 to 31-12-2019 Example: Mr. Vijay, a registered supplier, receives 100 invoices (for inward supply of goods/ services) involving GST of Rs.)
cancellations and other steps taken for plugging tax evasion: Myth 1: No opportunity of being heard will be given if the proper officer believes that registration is liable to be cancelled. Fact 1: GST registration is liable to be cancelled for those who have not filed 6 or more returns.
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