CBDT Revises Form 3CD: To mine GST Data to check Tax Evasion By Notification July 23, 2018

CBDT Revises Form 3CD: To mine GST Data to check Tax Evasion By Notification July 23, 2018

 862 total views

Following Point wise changes

 

  1. 4 – GSTIN to be mentioned.

 

  1. 19 – Allowance under Section 32AD is to be reported.

 

  1. 24 – Deemed gains under Section 32AD to be reported.

 

  1. 26 – Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) is to be reported.

 

  1. 31 – Cash receipts more than INR 2, 00,000 under Section 269ST is to be reported now.

 

  1. 34 – Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be mentioned.

 

Point wise Insertions:

 

  1. 29A – Advance received on capital asset forfeited to be reported here {Section 56(2) (ix)}.

 

  1. 29B – Income of gifts exceeding INR 50,000 to be reported here {Section 56(2) (x)}.

 

  1. 30A – Details about “Primary Adjustments” in transfer pricing to be reported here as per Section 92CE.

 

  1. 30B – Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.

 

  1. 30C – Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.

 

  1. 36A – Dividend received under Section 2(22) (e) is required to be reported here.

 

  1. 42 – Details w.r.t. Form 61 (details of no PAN Form 60 received), Form 61A (SFT) and Form 61B (SRA) is to be provided here.

 

  1. 43 – Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.

 

  1. 44 – BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.

 

Notification 33/2018 dated 20.07.2018.


[button color=”” size=”” type=”round” target=”” link=”https://thetaxtalk.com/”]home[/button]  [button color=”” size=”” type=”round” target=”” link=”https://thetaxtalk.com/submit-article-publish-your-articles-here/”]Submit Article [/button]  [button color=”” size=”” type=”round” target=”” link=”https://thetaxtalk.com/discussion-on-tax-problem/”]Ask Question [/button]

Leave a Comment

Your email address will not be published.

the taxtalk

online portal for tax news, update, judgment, article, circular, income tax, gst, notification Simplifying the tax and tax laws is the main motto of the team tax talk, solving