The article is in relation to the recent amendment in the tax audit report i.e Form 3CD vide Notification 33/ 2018 dated 20 July 2018. The said Notification inter alia requires the Assessee to report the breakup of expenditure into GST and non GST transactions.Read More
To be complied with the VAT rules, the businesses in KSA have to record their financial transactions to ensure that all financial records are accurate and updated. The VAT registration may be mandatory or voluntary for the businesses and which is limited by the turnover. The mandatory registration required businesses have to prepare books of accounts, maintain accounting records and present it before tax authorities as and when required.Read More
Jobwork means any treatment or process undertaken by a person on goods belonging to another registered person. Jobwork is required to carry out the process specifies by principle manufacturer on the goods supplied by him.This article relates to transitional provisions (jobwork transactions) under GSTRead More
CBIC proposes improvements in e-way bill generation effective from November 16, 2018; Proposed enhancements include: (i) Checking of duplicate generation of e-way bills based on same invoice number, (ii) CKD/SKD/Lots for movement of Export/Import consignment, (iii) Shipping address in case of export and import supply type, (iv) Dispatching address in case of import supply type, (v) ‘Bill To – Ship To Transactions & (vi) Changes in bulk generation tool.