Pay your taxes on time and receive benefits, discover them here
The payment of tax is the unavoidable obligation of all the people who carry out an economic activity; This payment allows public expenses to be sustained, such as the construction of schools and hospitals; improve roads, allow electricity subsidy, build new communication routes, face economic crises and much more. Discover what the 7 benefits of being a responsible taxpayer are. Keep reading.
1. Your company maintains a good reputation
The SAT reports your fiscal situation in the Credit Bureau, paying on time will give you access to credit for SMEs, you will have a good reputation with clients and suppliers; In addition, you guarantee that all your sales and services can be invoiced. One consequence of not paying taxes is that your facilities are closed; this can definitely give a very bad impression.
2. Credit facility
Thanks to the Federal Government's "Encouragement to the Good Taxpayer" program, you can obtain bank loans as long as you are up-to-date with the payment of all your tax obligations. These credits are available for small and medium-sized companies with income from two million to two hundred and fifty million pesos.
3. You can participate in tenders
Keeping your accounts up to date and being a responsible taxpayer allows you to participate in the various tenders published by companies and the government during the year. Winning a tender always brings substantial profits and gives you a good reputation in the market.
4. A responsible taxpayer does not pay surcharges
All physical and legal persons who pay taxes on time are spared from spending money to settle the fines and surcharges charged by the SAT for not keeping the accounts properly.
5. You get the discount benefit
If you are a new taxpayer and you keep your accounting properly, complying with all tax obligations, then you will be able to access gradual discounts of ISR, VAT, IEPS and you will obtain subsidies for IMSS quotas.
6. Right to deduct expenses
Each tax regime has different benefits when deducting taxes; paying on time allows you to claim a tax refund.
7. You contribute to society
Collaborating with the payment of taxes helps to improve the living conditions of the country, and thanks to that you can demand that state resources be properly managed.
Concept of Form PMT-09Form PMT 09 consists of major and minor heads.
Major head are Integrated tax, Central tax, State/UT Tax, and Cess.
Minor head are Tax, Interest, Penalty, Fee and others.
In the Form PMT-09, the taxpayers need to provide GSTIN number and fill the data in Table No.
It is important to note that the amount can be transferred from one head to another only if there is enough balance available during the transfer.
The form is useful if a taxpayer wants to transfer an amount from one minor head to a major head or vice versa.
Being a taxpayer, GST return can be filed both online as well as offline.
E M S Tax Filing Solutions provides GST filing services to our customers including online support for any type of queries.
It is the responsibility of every citizen to honestly pay his taxes to give his bit in the nation building process.
All of these services are provided to us by the government we choose, as they are accountable for the welfare of taxpayers within the bounds of the nation.
But since the independence of India, the governments formed from that time till now have turned a blind eye on the problem of increasing population and have miserably failed to for making any laws for population control within the nation.
But the governments these days have shifted their goals from being a liable body that helps the masses to overcome their plights of the public, into a more autocratic one that decides and controls every aspect of our lives.
Since the Taxpayers pay almost 70% of their earnings as taxes and not much of this tax money is used for the welfare of taxpayers.
This has led to reduction of accountability of government as our hard earned tax money is instead used as a tool for vote bank politics.
If you are part of the final salary pension UK, the employer will pay into the central fund if it is not funded directly by the taxpayer.
The scheme will provide you with normal retirement age and the pension will be paid from this date.
The amount paid is dependent on various factors.
Every year criminals try to get away with committing tax fraud and this year is no different.
There’s a new twist to an old scam, erroneous tax refunds.See more
GST REG-21 is a ( Application for revocation of cancellation of registration ).
GST REG-22 is a ( Order for revocation of cancellation of registration ).
GST REG-23 is a ( Show cause notice for rejection of application for revocation of cancellation of registration ).
GST REG-24 is a ( Reply to the notice for rejection of application for revocation of cancellation of registration ).
GST REG-25 is a ( Certificate of provisional registration ).
GST REG-26 is a ( Application for enrolment of existing taxpayer ).
