GST Composition Scheme eligibility, Composition Scheme tax rates, GST registration under Composition Scheme, Composition dealer GST compliance, Composition Scheme turnover limit
credit before filing the return. You can either pay online or offline.
Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of COVID-19. In order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of COVID-19 during FY 2019-20 and subsequent years.
Every assessee, to whom GST is applicable, pays the GST in the form of cash/bank transfer. Such a deposit reflects under electronic cash ledger in the account of the assessee on the GST portal. Thus this amount reflecting under electronic cash ledger is used to pay off GST taxes, penalty, interest, or any other amount payable under the GST Act.
As we are in the mid of March which is last month of the financial year, many of us are concerned as to where and how much to invest to save tax. As one can claim a set limit deduction from his / her income under the Income Tax Act, one must be very careful about the amount of investment.
