TAXWIZERS CONSULTANT

Taxwizers provide services like GST Registration, Company Registration, Income Tax Filing, GST Return, Trademark, MSME, TDS, ESI, PF, Professional Consultancy for Startup Registration and other businesses as well.

GST FAQ’S

Is input tax credit allowed only after matching?No, input tax credit is allowed provisionally for two months. The supply details are matched by the system and discrepancies are communicated to concerned supplier and recipient. In case mismatch continues, the ITC taken would be reversed automatically. Can provisionally allowed ITC be used for payment of all […]

GST FAQ’S

Where the goods against an invoice are received in lots or instalments, how will a registered person be entitled to ITC?The registered person shall be entitled to the credit only upon receipt of the last lot or installment. Can a person take input tax credit without payment of consideration for the supply along with tax […]

GST Challan

Can a challan generated online be modified?No. After logging into GSTN portal for generation of challan, payment particulars have to be fed in by the tax payer or his authorized person. He can save the challan midway for future updation. However once the challan is finalized and CPIN generated, no further changes can be made […]

Tax Collection at Source (TCS)

What is Tax Collection at Source (TCS)?The e-commerce operator is required to collect an amount calculated at the rate not exceeding one percent of the net value of taxable supplies made through it, where the consideration with respect to such supplies is to be collected by such operator. The amount so collected is called as […]

Electronic Commerce

What is Electronic Commerce?Electronic Commerce has been defined to mean the supply of goods or services or both, including digital products over digital or electronic network. Who is an e-commerce operator?Electronic Commerce Operator has been defined to mean any person who owns, operates or manages digital or electronic facility or platform for electronic commerce.Is it […]

Concept of Input Service Distributor in GST

What is Input Service Distributor (ISD)?ISD means an office of the supplier of goods or services or both which receives tax invoices towards receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax (CGST), State tax (SGST)/ Union territory tax (UTGST) or integrated tax (IGST) paid […]