TAX DESTINATION

Hello everyone!! Welcome back to the TAX DESTINATION blog.Thanks for your continuous support & tremendous response to our blogs. Check out the Previous series if you haven't read the same where we have given questions that can be asked in HR Round & Technical Round for Audit Role,  Accounts & Finance Role In this series, we would like to give questions that can be asked in the Accounts & Finance Role Questions  that can be asked in Indirect TAX Profile 01.  Are you aware of the recent notifications and circulars in GST? The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles. Following are the changes with effect from 1st January 2022-   (1)ITC claims will be allowed only if it appears in GSTR-2B as per  Section 16(2)(aa) .  So, the taxpayers can no longer claim 5% provisional ITC under the CGST Rule 36(4) and ensure every ITC value claimed was ref

Hello everyone!! Welcome back to the TAX DESTINATION blog.Thanks for your continuous support & tremendous response to our blogs. Check out the Previous series if you haven't read the same where we have given questions that can be asked in HR Round & Technical Round for Audit Role,  Accounts & Finance Role In this series, we would like to give questions that can be asked in the Accounts & Finance Role Questions  that can be asked in Indirect TAX Profile 01.  Are you aware of the recent notifications and circulars in GST? The 46th GST Council meeting was held on 31st December 2021 in New Delhi. Union FM Nirmala Sitharaman led meeting has decided to defer the GST rate hike to 12% for textiles. Following are the changes with effect from 1st January 2022-   (1)ITC claims will be allowed only if it appears in GSTR-2B as per  Section 16(2)(aa) .  So, the taxpayers can no longer claim 5% provisional ITC under the CGST Rule 36(4) and ensure every ITC value claimed was ref