We know that you pay your taxes carefully and advance tax as and when due. But, in case, you are wondering what happens when you have paid taxes more than you are actually supposed to pay or tax has been deducted (TDS) from your income much more than required, then you are at the right place! Let’s understand how you can get your refund back!In the case of excess payment of taxes, you are entitled to a refund of excess tax paid and even interest on the amount of refund.HowSEE DETAILS
The biggest indirect tax regime GST, which is proposed to be implemented from April 1, 2017 is witnessing frequent updations.The three draft rules with their formats relating to registration, invoice and payments were issued yesterday by the Central Board of Excise and Customs (CBEC), for public comments.As per the rules for refund, specified form (GSTR-3) will be required to be submitted by every registered taxable person monthly. There is also a provision for electronic furnishing of annual return. Audited statements would be required to be submitted annually by every taxable person whoseSEE DETAILS