tag:blogger.com,1999:blog-25243885927933636642024-03-21T05:26:33.229-07:00Vinay Kaushik & Co. GOODS AND SERVICES TAX Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.comBlogger57125tag:blogger.com,1999:blog-2524388592793363664.post-53047741065016376472023-12-06T02:34:00.000-08:002023-12-06T02:34:42.574-08:00Mismatch of ITC available in GSTR-2B statement & ITC claimed in GSTR-3B return online<p><b>Compliance advisory for GST DRC-01C - </b><b>Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-3B Return.</b></p><p style="text-align: justify;">GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credit available in GSTR-2B statement & ITC claimed in GSTR-3B return online as directed by the GST Council. </p><p style="text-align: justify;">This feature is live on the GST portal. This functionality compares the ITC declared in GSTR-3B/3BQ with the ITC available in GSTR-2B/2BQ for each return period. If the claimed ITC in GSTR 3B exceeds the available ITC in GSTR-2B by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01C.</p><p style="text-align: justify;">Upon receiving an intimation, the taxpayer must file a response using Form DRC-01C Part B. The taxpayer has the option to either provide details of the payment made to settle the difference using Form DRC-03, or provide an explanation for the difference, or even choose a combination of both options.</p><p style="text-align: justify;">In case, no response is filed by the impacted taxpayers in Form DRC-01C Part B, such taxpayers will not be able to file their subsequent period GSTR-1/IFF.</p><p style="text-align: justify;"><br /></p><p style="text-align: justify;"><span style="font-size: xx-small;"><br /></span></p><p style="text-align: justify;"><span style="font-size: xx-small;">source: taxation library</span></p><p><br /></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-77991514486626582342023-05-16T03:14:00.003-07:002023-05-16T03:14:39.883-07:00GST Update:- E- Invoice<p>E-INVOICES APPLICABLE LIMIT HAS BEEN REDUCED TO RUPEES 5 CRORES WITH EFFECT FROM FIRST AGUST, 2023.</p><p><br /></p><p>Source: <a href="https://drive.google.com/file/d/1D71SnVfwvBYZQOFxqWEE-WTQwNmaYmux/view?usp=share_link" target="_blank">Notification No. 10/23 Central Tax, dated 10.05.2023</a></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-59686260799120450752022-10-31T04:37:00.001-07:002022-10-31T04:37:24.146-07:00GST CHANGES EFFECTIVE FROM 01.NOV. 2022<p> <span style="box-sizing: border-box; color: #09090a; font-family: "Nunito Sans", sans-serif; font-size: 16px; font-weight: 700;">Four-digit HSN code mandatory for GST return:</span><span style="color: #09090a; font-family: "Nunito Sans", sans-serif; font-size: 16px;"> From November 1, it will be mandatory for taxpayers to provide a four-digit HSN code in the GST return with a turnover of less than Rs 5 crore.</span></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-32683250661203348812022-07-20T02:55:00.002-07:002022-07-20T02:55:34.523-07:00Rule 46(s) – Declaration in tax invoice under GST<p><span style="background: white; font-family: Arial, sans-serif; font-size: 10.5pt; line-height: 107%;">Registered persons whose </span><b><span style="background: white; color: #202124; font-family: "Arial",sans-serif; font-size: 10.5pt; line-height: 107%;">Annual Aggregate Turnover (</span></b><span style="background: white; font-family: Arial, sans-serif; font-size: 10.5pt; line-height: 107%;">AATO) exceeds the </span><b><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">notified limit</span></b> but were exempted by CGST
Notification <b><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">No. 13/2020</span></b> & <b><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">No. 61/2020</span></b> & <b><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">No. 70/2020; eg. as below:</span></b></p><p class="MsoNormal"><span style="font-family: Symbol; font-size: 10.5pt; text-align: justify; text-indent: -18pt;">·<span style="font-family: "Times New Roman"; font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify; text-indent: -18pt;">Special
Economic Zone Units</span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Insurers<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Banking companies or financial institutions, including a
non-banking financial company (NBFC)<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Goods Transport Agency (GTA) supplying services in relation to
transportation of goods by road in a goods carriage<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Suppliers of passenger transportation service<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Suppliers of services by way of admission to an exhibition of
cinematograph films in multiplex screens<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin-left: 36.0pt; margin: 1.25rem; mso-list: l0 level1 lfo1; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-indent: -18.0pt; vertical-align: baseline; widows: 2; word-spacing: 0px;"><!--[if !supportLists]--><span style="color: black; font-family: Symbol; font-size: 10.5pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Persons registered in terms of Rule 14 of CGST Rules [</span><span style="background: white; color: #202124; font-family: "Arial",sans-serif; font-size: 10.5pt;">Online Information Database Access and Retrieval services](</span><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">OIDAR)<o:p></o:p></span></p>
<p style="background: white; text-align: justify; vertical-align: baseline;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">[Declaration
under Rule 46(s)] that needs to be fulfilled while generating a tax
invoice by the registered person to whom by virtue of AATO, e-invoicing would
have been applicable as per rule 48(4) but is not generating e-invoices due to
certain exemptions notified by Govt.<o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; font-stretch: inherit; font-variant-caps: normal; font-variant-east-asian: inherit; font-variant-ligatures: normal; font-variant-numeric: inherit; line-height: inherit; margin: 1.25rem; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;">Rule 46(s) was inserted by First Amendment, 2022 to the CGST
Rules, 2017 vide a </span><b><span style="border: none windowtext 1.0pt; color: black; font-family: "inherit",serif; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-border-alt: none windowtext 0cm; padding: 0cm;">CGST Notification no. 14/2022 dated
5th July 2022</span></b><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt;"> and will come in force on 5th July 2022.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; vertical-align: baseline;"><u><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">The following
declaration shall be added to the tax invoice for cases where the e-invoice is
not being generated<o:p></o:p></span></u></p>
<p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; vertical-align: baseline;"><b><span style="border: none windowtext 1.0pt; color: black; font-family: "inherit",serif; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-border-alt: none windowtext 0cm; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; padding: 0cm;">”
I/We hereby declare that though our aggregate turnover in any preceding
financial year from 2017-18 onwards is more than the aggregate turnover
notified under sub-rule (4) of rule 48, we are not required to prepare an
invoice in terms of the provisions of the said sub-rule.”</span></b><u><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></u></p>
<p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 4; text-align: justify; vertical-align: baseline;"><u><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Tax invoice which is required to contain the declaration under rule 46(s)?<o:p></o:p></span></u></p>
<p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify; vertical-align: baseline;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Taxpayers whose AATO
exceeds the notified limit will be required to add the declaration in the tax
invoices in the following cases<o:p></o:p></span></p>
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; mso-padding-alt: 0cm 0cm 0cm 0cm; mso-yfti-tbllook: 1184; width: 596px;">
<tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center; vertical-align: baseline;"><b><span style="border: none windowtext 1.0pt; color: black; font-family: "inherit",serif; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-border-alt: none windowtext 0cm; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; padding: 0cm;">Taxable
Supplies</span></b><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><b><span style="border: none windowtext 1.0pt; color: black; font-family: "inherit",serif; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-border-alt: none windowtext 0cm; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; padding: 0cm;">Whether an e-invoice is being
generated</span></b><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><b><span style="border: none windowtext 1.0pt; color: black; font-family: "inherit",serif; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-border-alt: none windowtext 0cm; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; padding: 0cm;">Declaration under rule 46(s) to be
added in e-invoice</span></b><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center; vertical-align: baseline;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">B2B<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Yes<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">No<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">B2C<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">No<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center; vertical-align: baseline;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Yes<o:p></o:p></span></p>
</td>
</tr>
<tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">B2B or B2C supplies of an exempted category of taxpayers. eg. GTA,
NBFC etc.<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0cm; text-align: center;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">No<o:p></o:p></span></p>
</td>
<td style="padding: 3.75pt 7.5pt 3.75pt 7.5pt; width: 150.0pt;" valign="bottom" width="200">
<p align="center" class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: center; vertical-align: baseline;"><span style="color: black; font-family: "Arial",sans-serif; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Yes<o:p></o:p></span></p>
</td>
</tr>
</tbody></table>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-75528508952939255462021-06-02T05:56:00.000-07:002021-06-02T05:56:31.465-07:00GST Amnesty Scheme<p> As per the proposals made in 43rd GST Council meeting on 28th May, 2021 via video conferencing, the Finance Ministry has notified the GST Amnesty Scheme. </p><p>As per the Amnesty Scheme, the taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year for the tax period March, 2021, April, 2021 and May, 2021, the period for which the late fee waived will be 15 days from the due date of furnishing return. </p><p>The Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of section 39 in case of the tax period of March, 2021 the period for which the late fee waived will be 60 days from the due date of furnishing return; in case of the tax period of April, 2021 the period for which the late fee waived will be 45 days from the due date of furnishing return and in case of the tax period of May, 2021 the period for which the late fee waived will be 30 from the due date of furnishing return. </p><p>Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 for the quarter January-March, 2021 the late fee waived will be for 60 days from the due date of furnishing return. </p><p>The government has notified that the registered persons who failed to furnish the return in FORM GSTR-3B for the months /quarter of July, 2017 to April, 2021, by the due date but furnish the said return between the period from the 1June, 2021 to the 31August, 2021, the total amount of late fee under section 47 of the said Act, shall stand waived which is in excess of five hundred rupees. </p><p>The Board has further notified that where the total amount of central tax payable in the said return is nil, the total amount of late fee under section 47 of the said Act shall stand waived which is in excess of two hundred and fifty rupees for the registered persons who failed to furnish the return in FORM GSTR-3B for the months / quarter of July, 2017 to April, 2021, by the due date but furnish the said return between the period from the 1 June, 2021 to the 31 August, 2021. </p><p>The total amount of late fee payable under section 47 of the said Act for the tax period June, 2021 onwards or quarter ending June, 2021 onwards, as the case may be, shall stand waived which is in excess of Rs. 250/- for the registered persons whose total amount of central tax payable in the said return is nil, who fail to furnish the returns in FORM GSTR-3B by the due date. </p><p>The Government has further waived the late fee for the tax period June, 2021 onwards or quarter ending June, 2021 which is in excess of Rs.1000 for Registered persons having an aggregate turnover of up to Rs.1.5 crores in the preceding financial year. </p><p>Lastly, the late fee has been waived for the tax period June, 2021 onwards or quarter ending June, 2021 which is in excess of Rs.2500/- for taxpayers having an aggregate turnover of more than rupees 1.5 crores and up to rupees 5 crores in the preceding financial year. </p><p>Notifications: <a href="https://drive.google.com/file/d/1vEl8TwgFb5c5eCMsSiUDDR_Efm8rSw7T/view?usp=sharing" target="_blank">Amendments as per recommendations of GST Council</a></p><p><br /></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-48667771348825621232021-05-21T02:35:00.003-07:002021-05-21T07:17:34.650-07:00Real-time tracking details of e-way bill and vehicle<div style="text-align: justify;"><span face="Montserrat, sans-serif" style="background-color: white;">With effect from January 1, 2021, the government has integrated RFID/Fastag with the e-way bill system and a transporter is required to have a RFID tag in his vehicle and details of the e-way bill generated for goods being carried by the vehicle is uploaded into the RFID. </span><span face="Montserrat, sans-serif" style="background-color: white;">When the vehicle passes the RFID Tag reader on the highway, the details fed into the device gets uploaded on the government portal. </span></div><div style="text-align: justify;"><span face="Montserrat, sans-serif"><br /></span></div><span face="Montserrat, sans-serif" style="background-color: white;"><div style="text-align: justify;"><span face="Montserrat, sans-serif">The information is later used by the revenue officials to validate the supplies made by a GST registered person. </span><span face="Montserrat, sans-serif">To improve tax compliance, the government has also started blocking of EWB bill generation if a GST registered taxpayer has not filed GSTR- 3B return for the last two successive months. </span><span face="Montserrat, sans-serif">Also, the government has blocked the generation of multiple EWBs on one invoice. If the EWB is once generated using an invoice number or document number, then none of the other parties can generate another EWB using the same invoice number.</span></div></span><p style="text-align: justify;"><span face="Montserrat, sans-serif" style="background-color: white;">Besides, the e-way bills system has enabled auto calculation of distance based on PIN codes. The system will auto calculate the distance between the source and destination, based on PIN codes.</span></p><p style="text-align: justify;"><span face="Montserrat, sans-serif" style="background-color: white;">GST officers have been armed with real-time data of commercial vehicle movement on highways with integration of the e-way bill (EWB) system with Fastag and RFID, a move which will help in live vigilance of such vehicles and check GST evasion. </span><span style="background-color: white;">Additional features have been added to the e-way bill mobile application of tax officers, which will provide them real-time tracking details of e-way bill and vehicle to help them nab tax evaders who are misusing the e-way bill system.</span></p><span face="Montserrat, sans-serif" style="background-color: white;"><div style="text-align: justify;"><span face="Montserrat, sans-serif">Taxmen can now access reports on vehicles that have passed the selected tolls without e-way bills in the past few minutes. Also, the vehicles carrying critical commodities specific to the state and have passed the selected toll can be viewed. </span><span face="Montserrat, sans-serif">A</span><span face="Montserrat, sans-serif">ny suspicious vehicles and vehicles of EWBs generated by suspicious taxpayer GSTINs , that have passed the selected toll on a near real time basis, can also be viewed in this report. </span><span face="Montserrat, sans-serif">The officers can use of these reports while conducting vigilance and make the vigilance activity more effective. Also, the officers of audit and enforcement wing can use these reports to identify the fraudulent transactions like bill trading, recycling of EWBs.</span></div></span><div><span face="Montserrat, sans-serif"><span style="font-size: 12px;"><br /></span></span><div>Source: <a href="https://drive.google.com/file/d/1QkSCS51NtGEZATjg6fKdZ8r97gwMWZGA/view?usp=sharing">EWB Vehicle Tracking Module</a></div><div><br /></div><div><div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-family: arial; font-size: 12px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><br /></div><div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-family: arial; font-size: 12px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><br /></div></div></div>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com1tag:blogger.com,1999:blog-2524388592793363664.post-9755949966419241602021-02-02T03:03:00.005-08:002021-02-02T03:38:46.789-08:00Budget 2021 Indirect Tax Proposals<p><span face=""Source Sans Pro", sans-serif" style="background-color: white; color: #333333; font-size: 16px;">The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. Highlights of Indirect Tax Proposals: <a href="https://drive.google.com/file/d/1XC8dOsMnqdWibBLXMU_0CTq2hz9n0Arc/view?usp=sharing">Bugget 2021- Highlights of Indirect Tax Proposals </a></span></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-47058583713864414252021-01-02T21:25:00.001-08:002021-01-02T21:25:20.720-08:00Recent Amendments in GST Act and Rules<p> <span style="background-color: white; color: #2f5496; font-size: 10.5pt; text-align: justify;">Recently, Government has issued 2 Notifications both are very critical.</span></p><p class="MsoNormal" style="text-align: justify;"><span face=""Arial",sans-serif" style="color: #2f5496; font-size: 10.5pt; line-height: 14.98px; mso-themecolor: accent1; mso-themeshade: 191;">With the amendments in GST Laws, GST officials will enjoy more powers which adds on the difficulties in the miserable life of tax payers and tax professionals, these amendments are directly going to affect working capital of the tax payer and will also affect the tax compliance procedures making it more cumbersome. In this article we will touch upon only two notifications, namely: <o:p></o:p></span></p><p class="MsoListParagraphCxSpFirst" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18pt;"><!--[if !supportLists]--><span style="color: #833c0b;"><span face="Arial, sans-serif"><span style="font-size: 10.5pt;">1.</span></span><span style="font-size: xx-small;"> </span></span><span style="color: black;"><i><span face="Arial, sans-serif" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1155cc; font-size: 10.5pt;">Notification No. 92/2020- Central Tax dated 22<sup>nd</sup> December 2020</span></i></span><span face=""Arial",sans-serif" style="color: black; font-size: 10.5pt; mso-color-alt: windowtext;"> </span><span face=""Arial",sans-serif" style="color: #833c0b; font-size: 10.5pt; mso-themecolor: accent2; mso-themeshade: 128;">– amended the act.<o:p></o:p></span></p><p class="MsoListParagraphCxSpLast" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18pt;"><!--[if !supportLists]--><span face=""Arial",sans-serif" style="color: #833c0b; font-size: 10.5pt; mso-color-alt: windowtext; mso-fareast-font-family: Arial; mso-themecolor: accent2; mso-themeshade: 128;"><span style="mso-list: Ignore;">2.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span></span><span style="color: black; mso-color-alt: windowtext;"><i><span face=""Arial",sans-serif" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1155cc; font-size: 10.5pt;">Notification No. 94/2020- Central Tax dated 22nd December 2020</span></i></span><span class="MsoHyperlink"><i><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #1155cc;"> </span></i></span><span face=""Arial",sans-serif" style="color: #833c0b; font-size: 10.5pt; mso-themecolor: accent2; mso-themeshade: 128;"><span style="mso-spacerun: yes;"> </span>– amended the rule. </span></p><p class="MsoListParagraphCxSpLast" style="background: white; line-height: normal; margin-bottom: 7.5pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18pt;"><span face=""Arial",sans-serif" style="color: #833c0b; font-size: 10.5pt; mso-themecolor: accent2; mso-themeshade: 128;"> Read the full article: <a href="https://drive.google.com/file/d/1tjAstWHfFN18i-ixnuYiyHxRMd2FU1Qn/view?usp=sharing" target="_blank">Recent amendments in GST Act and Rules</a></span></p>Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-9711310594403267912020-06-13T00:02:00.002-07:002020-06-13T00:03:51.674-07:00Recommendation of 40th GST Council Meeting dated 12th June 2020<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #475055; font-family: "arial" , "helvetica" , sans-serif;">Following relaxation was recommended in GST Council Meeting for filing of GSTR Returns dated 12-06-2020. The Same would be given effect through relevant circulars/ Notifications.</span></div>
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<li style="text-align: justify;"><span style="color: #475055; font-family: "arial" , "helvetica" , sans-serif;">Relaxation for Taxpayers having aggregate turnover up to ₹5 Crore by waiver of late fee and Interest if the GSTR-3B for the period May 2020 to July 2020 are furnished by Sept. 2020 ( dates to be notified ).</span></li>
<li style="text-align: justify;"><span style="color: #475055; font-family: "arial" , "helvetica" , sans-serif;">One time extension in period for seeking revocation of cancellation of registration To facilitate tax payers who could not filed their cancelled GST registration resorted in time, an opportunity is being provided for filing of application of revocation of cancellation registration up to 30.09.2020 in all cases where registration have been cancelled till 12.06.2020.</span></li>
<li style="text-align: justify;"><span style="color: #475055; font-family: "arial" , "helvetica" , sans-serif;">As per the earlier issued notification no. 31/2020 issued below specified date was notified to file GSTR-3B for small tax payers, now relaxation is provided to small tax payers by reducing the rate of interest for filing GSTR-3B for the period Feb 20 to April 20 beyond specified dates to 9% pa. from 18% if filing is done till 30.09.2020:</span></li>
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<span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">No.<o:p></o:p></span></div>
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<span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Taxpayer on the basis of<o:p></o:p></span></div>
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<span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Rate of<o:p></o:p></span></div>
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<span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Tax Period<o:p></o:p></span></div>
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<span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Specified dates for filing of GSTR-3B (Condition)<o:p></o:p></span></div>
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<td rowspan="2" style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 1.0cm;" valign="top" width="38"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">1<o:p></o:p></span></div>
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<td rowspan="2" style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 99.25pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">Turnover ₹1.5 Cr- ₹5Cr<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">NIL<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">Feb 20, March 20<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">On or before 29th day of June, 2020<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">April,20<o:p></o:p></span></div>
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<td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 183.05pt;" valign="top" width="244"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">On or before 30th day of June, 2020<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">2<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">Turnover < ₹1.5Cr<o:p></o:p></span></div>
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<td rowspan="3" style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 49.6pt;" valign="top" width="66"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">NIL<o:p></o:p></span></div>
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<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 99.25pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">Feb,20<o:p></o:p></span></div>
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<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 183.05pt;" valign="top" width="244"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">On or before 30th day of June, 2020<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 99.25pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">March,20<o:p></o:p></span></div>
</td>
<td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 183.05pt;" valign="top" width="244"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">On or before 3rd day of July, 2020<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 99.25pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">April,20<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 183.05pt;" valign="top" width="244"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">On or before 6th day of July, 2020<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;"><br /></span></div>
<div style="text-align: start;">
<ul style="text-align: left;">
<li><span style="color: #475055; font-family: "arial" , "helvetica" , sans-serif; text-align: justify;">Relaxation for July-17 to Jan- 20, in filing GSTR-3B return:</span></li>
</ul>
</div>
<div style="background-color: white; box-sizing: border-box; color: #475055; font-family: Arial, Helvetica, sans-serif; font-size: 16px; line-height: 1.6; margin-bottom: 10px; text-align: justify;">
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; border: none; mso-border-alt: solid #DDDDDD .75pt; mso-yfti-tbllook: 1184; width: 613px;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 57.3pt;" valign="top" width="76"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Return</span></b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></div>
</td>
<td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 63.2pt;" valign="top" width="84"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Period</span></b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></div>
</td>
<td colspan="2" style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 177.2pt;" valign="top" width="236"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Late Fee</span></b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></div>
</td>
<td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 161.8pt;" valign="top" width="216"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;">Condition</span></b><span style="color: #353435; font-family: "arial" , sans-serif; font-size: 10.5pt;"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 57.3pt;" valign="top" width="76"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">GSTR 3B<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 63.2pt;" valign="top" width="84"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">July-17 to Jan 2020<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.15pt;" valign="top" width="123"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">NIL<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #475055; font-family: "arial" , sans-serif; font-size: 10.5pt;">if no tax liability<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 3.0cm;" valign="top" width="113"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">Maximum 500 per return in case of liability<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 161.8pt;" valign="top" width="216"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #444444; font-family: "arial" , sans-serif; font-size: 10.5pt;">GSTR-3B furnished between 1.07.2020 to 30.09.2020<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
</div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-50783480619506864632020-06-12T22:52:00.002-07:002020-06-13T00:15:29.574-07:00GST Liability on Director's remuneration<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
The issue of remuneration to directors has been examined under following two different categories:</div>
<br />
<ul style="text-align: left;">
<li style="text-align: justify;">leviability of GST on remuneration paid by companies to the independent directors defined in terms of section 149(6) of the Companies Act, 2013 or those directors who are not the employees of the said company; and</li>
<li style="text-align: justify;">leviability of GST on remuneration paid by companies to the whole-time directors including managing director who are employees of the said company.</li>
</ul>
<br />
<div style="text-align: justify;">
Whether or not a "Director" is an employee of the company. In this regard, from the perusal of the relevant provisions of the Companies Act, 2013, it can be inferred that:</div>
<div style="text-align: justify;">
</div>
<ul>
<li style="text-align: justify;">the definition of a whole time-director under section 2(94) of the Companies Act, 2013 is an inclusive definition, and thus he may be a person who is not an employee of the company.</li>
<li style="text-align: justify;">the definition of "independent directors" under section 149(6) of the Companies Act, 2013, read with Rule 12 of Companies (Share Capital and Debentures) Rules, 2014 makes it amply clear that such director should not have been an employee or proprietor or a partner of the said company, in any of the three financial years immediately preceding the financial year in which he is proposed to be appointed in the said company.</li>
</ul>
<br />
<div style="text-align: justify;">
Therefore, in respect of such directors who are not the employees of the said company, the services provided by them to the Company, in lieu of remuneration as the consideration for the said services, the recipient of the said services i.e. the Company, is liable to discharge the applicable GST on it on reverse charge basis. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It is hereby clarified that the remuneration paid to such independent directors, or those directors, by whatever name called, who are not employees of the said company, is taxable in hands of the company, on reverse charge basis.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Accordingly, it is clarified that the part of Director's remuneration which are declared as "Salaries" in the books of a company and subjected to TDS under Section 192 of the IT Act, are not taxable being consideration for services by an employee to the employer in the course of or in relation to his employment.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It is further clarified that the part of employee Director's remuneration which is declared separately other than "salaries‟ in the Company's accounts and subjected to TDS under Section 194J of the Income Tax Act as Fees for professional or Technical Services shall be treated as consideration for providing services, and is therefore, taxable. The recipient of the said services i.e. the Company, is liable to discharge the applicable GST on it on reverse charge basis.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Copy of Circular: <a href="https://drive.google.com/file/d/1OEeHyP-6inOB4LTVs53tKXmlSHNL2v_n/view?usp=sharing" target="_blank">Clarification in respect of levy of GST on Director’s Remuneration</a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-47335207281801240772020-05-06T01:52:00.001-07:002020-05-06T02:07:31.269-07:00RECENT AMENDMENTS UNDER GST <div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<ul style="text-align: left;">
<li style="text-align: justify;"><div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 1;">
<span style="color: #5d5d5d; font-family: Arial, sans-serif; font-size: 16px;">Due date to furnish GST return for F,Y, 2018-19 extended to September 30, 2020. </span><a href="https://drive.google.com/file/d/12_Ee3LzxuMeqhvq6-rVylAK4UjHKazT0/view?usp=sharing" style="background-color: transparent;" target="_blank">Notification No.41/2020-Central Tax, 5th May. 2020.</a></div>
</li>
</ul>
<div style="text-align: justify;">
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-collapsed-heading: yes; mso-outline-level: 1;">
<br /></div>
</div>
<ul style="text-align: left;">
<li><div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0.0001pt; text-align: justify;">
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: normal; margin-bottom: 0.0001pt;">
<span style="color: #5d5d5d; font-family: "Arial",sans-serif; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-font-kerning: 18.0pt;">CBIC earlier
vide Notification no. 35/2020 dated 3rd April, 2020 extended the period of
validity till 30th April, 2020 for e-way bill validity expires during the
period <b>20th day of March, 2020 to 15th day of April, 2020. </b></span><span style="color: #5d5d5d; font-family: "arial" , sans-serif; font-size: 12pt;"><span style="font-family: Arial, sans-serif; font-size: 12pt;">Now CBIC vide Notification No. 40/2020-Central Tax, dated 5th May, 2020, p</span><span style="font-family: Arial, sans-serif; font-size: 12pt;">rovided that where an e-way
bill has been generated on or before the 24th day of March, 2020 and its period
of validity expires during the period 20th day of March, 2020 to the 15th day of
April, 2020, the validity period of such e-way bill shall be deemed to have
been extended till the </span><b style="font-family: Arial, sans-serif; font-size: 12pt;">31st day of May, 2020.</b> </span><span style="background-color: transparent;"><a href="https://drive.google.com/file/d/1Ew8w1hIqCYmP25psGGSa8Jh4vRDVz3q6/view?usp=sharing" target="_blank">Notification No. 40/2020-Central Tax, 5th May, 2020.</a></span></div>
</div>
</li>
</ul>
<div style="text-align: justify;">
<br /></div>
<ul style="text-align: left;">
<li><div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 0.0001pt; text-align: justify;">
<span style="background-color: transparent;"> A</span><span style="color: #5d5d5d; font-family: "arial" , sans-serif; font-size: 12pt;"> registered
person registered under the provisions of the Companies Act, 2013 (18 of 2013)
shall, during the period from the 21st day of April, 2020 to the 30th day of
June, 2020, also be allowed to furnish the return under section 39 in FORM
GSTR3B verified through electronic verification code (EVC). </span><span style="color: #5d5d5d; font-family: "arial" , sans-serif; font-size: 12pt;"> A registered
person who is required to furnish a Nil return under section 39 in FORM GSTR-3B
for a tax period, any reference to electronic furnishing shall include
furnishing of the said return through a short messaging service using the
registered mobile number and the said return shall be verified by a registered
mobile number based One Time Password facility. </span><span style="color: #5d5d5d; font-family: "arial" , sans-serif;"><a href="https://drive.google.com/file/d/10f3s6ioqS-iGQZ4m0hQ55Tq3HLDDZgJG/view?usp=sharing" target="_blank">Notification No.38/2020-Central Tax, 5th May. 2020.</a></span></div>
</li>
</ul>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-34079882610910854702020-02-10T03:21:00.000-08:002020-02-10T03:36:04.917-08:00UNION BUDGET 2020- IMPORTANT AMENDMENTS INTRODUCED IN GST ACT <div dir="ltr" style="text-align: left;" trbidi="on">
<b style="background-color: white; text-align: justify;"><span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Amendment
in penalty provisions:</span></span></b><br />
<div style="background: white; margin-top: 0in; text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Section
122 of the CGST Act has been amended to comprise that the person
involved/benefited out of fake ITC (Input Tax Credit) shall also be liable for
a penalty of 100% of the tax involved. The penalty will be levied on that person
who retains the benefit of a fraudulent supply of goods and/or services and on
a person at whose instance such fraudulent transactions are executed. <o:p></o:p></span></span></div>
<div style="background: white; margin-top: 0in; text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;"><br /></span></span></div>
<div style="background: white; margin-top: 0in; text-align: justify;">
<span style="font-size: x-small;"><span style="color: #121416; font-family: "arial" , sans-serif;">However,
it would be expedient for the enforcement authorities to ensure that bonafide
person or recipients do not have to pass through the harshness of such severe
provisions.</span><o:p></o:p></span></div>
<div style="background: white; margin-top: 0in; text-align: justify;">
<span style="font-size: x-small;"><span style="color: #121416; font-family: "arial" , sans-serif;"><br /></span></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 1.5rem; margin-top: 0in; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;">
<span style="box-sizing: border-box;"><span style="font-size: x-small;"><span style="color: #121416; font-family: "arial" , sans-serif;">Section
132 of the CGST Act has been amended to make the offence of a fraudster
availing ITC (Input Tax Credit) without any invoice or bill as cognizable and
non-bailable. The law is amended to extend the imprisonment to those ‘who
causes to commit’ and ‘person retaining the benefit’. Before introducing the
amendment, the punishment was restricted only to the person who committed the
fraud.</span><o:p></o:p></span></span></div>
<h4 style="background: white; margin-top: 0in; text-align: justify;">
<b><span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Date for ITC
on Debit Note:</span></span></b><span style="font-size: x-small;"><span style="color: #121416; font-family: "arial" , sans-serif; font-weight: normal;">The date
of the debit note will be considered for availing ITC (Input Tax Credit). <span style="mso-spacerun: yes;"> </span>This will benefit a lot, now, ITC in respect
of a debit note issued in, for example, Financial year 2020-21 for an invoice
of Financial year 2019-20 can now be claimed by the recipient on or before the
due date of September 2021 return or the annual return of Financial Year
2020-21, whichever is earlier.</span></span></h4>
<div style="background: white; margin-top: 0in; text-align: justify;">
<b><span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Composition
scheme to service providers:</span></span></b></div>
<div style="background: white; margin-top: 0in; text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Composition
scheme cannot be availed by taxpayers supplying services outside the state,
making exempt supplies, or making supplies through e-commerce operators who are
liable for Tax Collected at Source (TCS). <o:p></o:p></span></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 1.5rem; margin-top: 0in; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;">
<span style="box-sizing: border-box;"><b><span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;"><br /></span></span></b></span></div>
<h4 style="-webkit-text-stroke-width: 0px; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 1.5rem; orphans: 2; text-align: left; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;">
<span style="box-sizing: border-box;"><b><span style="color: #121416; font-family: "arial" , sans-serif;"><span style="font-size: x-small;">Miscellaneous:<br /><div style="text-align: justify;">
<span style="font-weight: normal;">Refunds
due to inverted tax prevalent for tobacco products is barred with a
retrospective effect from 1 July 2017. the retrospective effect has been
given for transition provisions from 1 July 2017. </span></div>
<div style="text-align: justify;">
<span style="font-weight: normal;"><br /></span></div>
</span></span></b></span><span style="font-weight: normal;"><div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;">A new
provision has been included to provide for the cancellation of voluntary GST
registration of distinct people.</span></div>
<div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;"><br /></span></div>
<div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;">The power to condone the delay in applying for
revocation of cancellation has been given to Additional Commissioners and
Commissioners for 30 days.</span></div>
<div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;"><br /></span></div>
<span style="box-sizing: border-box;"><div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;">The
supply of fishmeal provided a retrospective GST exemption from 1 July 2017 to
30 September 2019.</span></div>
<div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif; font-size: x-small;"><br /></span></div>
</span><span style="color: #121416; font-family: "arial" , sans-serif;"><div style="text-align: justify;">
<span style="font-size: x-small;">It
further seeks to retrospectively levy central tax at the reduced rate of six
per cent. on supply of pulley, wheels and other parts (falling under heading
8483) and used as parts of agricultural machinery of headings 8432, 8433 and
8436, during the period from the 1st day of July, 2017 up to 31st day of
December, 2018 (both days inclusive).</span><span style="font-size: x-small;"> </span><span style="font-size: x-small;">It
also seeks to provide that no refund shall be made of the tax which has already
been collected.</span></div>
<div style="text-align: justify;">
<span style="font-size: x-small;"><br /></span></div>
</span><span style="font-size: x-small;"><div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;">CBIC
extended the time limit to issue the removal of difficulty order from earlier
three-year limit to now five years w.e.f 1 July 2017. Also, the board’s
approval is not required for the order to determine the expense in special
audit and extension of the time limit to return the inputs and capital goods
from job worker.</span></div>
<div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;"><br /></span></div>
</span><span style="font-size: x-small;"><div style="text-align: justify;">
<span style="color: #121416; font-family: "arial" , sans-serif;">Aligned the definition of “Union
territory” in line with the Jammu and Kashmir Reorganization Act, 2019 and the
Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories), Act,
2019. Thus, new union territory, Ladakh has been included in the definition of
Union Territory. Jammu & Kashmir will have its appellate tribunal.</span></div>
</span><span style="box-sizing: border-box;"><div style="text-align: justify;">
</div>
</span></span></h4>
<div style="text-align: justify;">
<span style="font-size: x-small;"><i>Source: Finance Bill 2020</i></span><br />
<span style="font-size: x-small;"><i><br /></i></span>
<span style="font-size: x-small;"><i>Disclaimer: ‐</i></span><br />
<i><span style="font-size: x-small;">This article is intended for private circulation & knowledge sharing purpose only. We have made best </span><span style="font-size: x-small;">of our efforts to ensure the accuracy of information in this article, however we will not be responsible </span><span style="font-size: x-small;">for any errors that may have sneaked in unconsciously and do not accept any liability whatsoever, for </span><span style="font-size: x-small;">any direct or consequential loss arising to any one from any kind of use of this article.</span></i></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-12677019174862976652020-01-04T01:32:00.001-08:002020-01-04T01:48:04.385-08:00Dear GST-registered dealer - DON’T DO ANY OF THESE<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<span style="background-color: transparent; color: #222222; font-family: "arial" , sans-serif; font-size: 12pt;">You
will be inviting trouble if GSTR 3B return is not filed on or before 20th of coming
month or late filed. CBIC has released </span><b style="background-color: transparent;"><span lang="EN-IN" style="font-family: "arial" , sans-serif; font-size: 11.0pt;">CIRCULAR NO. 129/48/2019-GST [F. NO. 20/06/04/2019-GST]</span></b><span lang="EN-IN" style="background-color: transparent; font-family: "arial" , sans-serif; font-size: 11pt;">, <b>DATED 24-12-2019. Crux of the matter in nutshell is as
below:</b></span></div>
<ul style="margin-top: 0in;" type="disc">
<li class="MsoNormal" style="background: white; color: #222222; mso-layout-grid-align: auto; mso-list: l0 level1 lfo1; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">You will receive an e-mail/ message alert from GST
department on 17th of the month to file GSTR-3B by 20th.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #222222; mso-layout-grid-align: auto; mso-list: l0 level1 lfo1; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">If GSTR 3B is not filed on or before 20th i.e.
due date then again message will come on 21st that the return is not
filed.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #222222; mso-layout-grid-align: auto; mso-list: l0 level1 lfo1; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">If the return is not filed till 25th, then department
will issue a notice in GSTR- 3A directing to file the return within 15
days,<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #222222; mso-layout-grid-align: auto; mso-list: l0 level1 lfo1; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">If the returns is still not filed within 15 days,
then the proper officer in GST department will assess your liability of
that month and determine the tax to the best of his judgement under </span><b><span lang="EN-IN" style="color: black; font-size: 12.0pt;">FORM
ASMT-13</span></b><span lang="EN-IN" style="font-family: "arial" , sans-serif; font-size: 12.0pt;"> </span><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">, <o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #222222; mso-layout-grid-align: auto; mso-list: l0 level1 lfo1; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">If the said return remains unfurnished within the
statutory period of 30 days from issuance of order in <b>FORM ASMT-13</b>,
then proper officer may initiate proceedings under section 78 and recovery
under section 79 of the CGST Act.<o:p></o:p></span></li>
</ul>
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<br /></div>
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt;">All these email and
messages are going to be generated automatically by the system. So now onwards,
if you need to avoid strict action by the department be firm in timely filing
of GST return. <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt;"><br /></span></div>
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt;"><br /></span></div>
<div class="MsoNormal" style="background: white; mso-layout-grid-align: auto; mso-pagination: widow-orphan; text-autospace: ideograph-numeric ideograph-other;">
<span style="font-size: xx-small;"><span style="color: #222222; font-family: "arial" , sans-serif;">Source: </span><span lang="EN-IN" style="background-color: transparent; font-family: "arial" , sans-serif;"><b><a href="https://drive.google.com/open?id=1AIYH0-k0UuGgPfVzcFE6f2E2S73c3ggl" target="_blank">Circular No.129/48/2019-GST, dated 24.12.2019</a></b></span></span></div>
<br /></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-3383045562305037322019-12-28T05:12:00.001-08:002019-12-28T05:12:36.964-08:00PROVISIONAL ITC in FORM GSTR-3B as per the New CGST Rule<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div style="background: white; margin-bottom: 7.5pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify;">
<span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;">The CBIC released an important </span><b><span style="background: white; color: #002060; font-family: "Calibri Light",sans-serif; font-size: 11.0pt; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;">NOTIFICATION NO. 49/2019 - CENTRAL TAX, dated
9-10-2019, </span></b><span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;">inserting a new sub-rule (4) under rule 36 of the
CGST Rules, 2017, stating that provisional credit can be hereafter claimed in
the </span><span style="color: black; mso-color-alt: windowtext;"><a href="https://cleartax.in/s/gstr-3b"><span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;">GSTR-3B</span></a></span><span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;"> only to the
extent of 20% of eligible ITC reflected in the </span><span style="color: black; mso-color-alt: windowtext;"><a href="https://cleartax.in/s/gstr-2a" target="_blank"><span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;">GSTR-2A.</span></a></span><span style="color: #002060; font-family: "Calibri Light",sans-serif; mso-ascii-theme-font: major-latin; mso-bidi-theme-font: major-latin; mso-hansi-theme-font: major-latin;"><o:p></o:p></span></div>
Read more: <a href="https://drive.google.com/open?id=1iYW0G-uZri6G91wkq6NUcqnjz6WpFlSL" target="_blank">Provisional ITC in Form FSTR-3B as per the New CGST Rules</a><br />
<a href="http://cbic.gov.in/" target="_blank"><br /></a>
Source: <span style="color: #002060; font-family: Calibri, sans-serif; font-size: 11pt;"><a href="http://cbic.gov.in/">http://cbic.gov.in</a></span></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-81058038937909707172019-07-08T23:02:00.003-07:002019-07-08T23:51:36.397-07:00BUDGET HIGHLIGHTS FOR GST<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="text-align: justify;">1.</span><span style="text-align: justify; white-space: pre;"> </span><b style="text-align: justify;">Interest to be computed on net tax liability</b><span style="text-align: justify;"> </span><br />
<div style="text-align: justify;">
Earlier there was a confusion among taxpayers on the issue of delayed payment of tax, whether interest would be charged on gross tax liability or only on net tax liability. </div>
<div style="text-align: justify;">
A Proviso has been inserted in Section 50 of the CGST Act, 2017 (‘Interest on Delayed Payment of Tax’) to clarify that interest for late payment of tax shall be levied only on that portion of tax which has been paid by debiting the electronic cash ledger.</div>
<div style="text-align: justify;">
The exception to this rule is, where returns are filed subsequent to initiation of any proceedings under GST Act, in that case the interest shall be levied on the gross tax liability. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
2.<span style="white-space: pre;"> </span><b>Transfer amount from one head (major or minor) to another in electronic cash ledger </b></div>
<div style="text-align: justify;">
Earlier, if the assesse has wrongly deposited any amount under wrong head either minor head (tax, interest, penalty or fee) or major head (IGST, SGST, CGST, UTGST), the only option left with the assesse is to apply for refund. The amount kept under a particular head was not allowed to be transferred from one head to another in the electronic ledger. </div>
<div style="text-align: justify;">
Now a registered person has been provided with the facility to transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger to the electronic cash ledger for Integrated Tax, Central Tax, State Tax, Union Territory Tax or Cess through a new form PMT-09 subject to the conditions and restrictions prescribed under GST Act. Such transfer shall be deemed to be a refund from the electronic cash ledger. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
3.<span style="white-space: pre;"> </span><b>Aadhaar Authentication </b></div>
<div style="text-align: justify;">
Every registered person shall authenticate, or furnish proof of possession of Aadhaar number. </div>
<div style="text-align: justify;">
If an Aadhaar number is not assigned to the registered person, such person shall be offered an alternate and viable means of identification.</div>
<div style="text-align: justify;">
In case of failure to undergo authentication or furnish proof of possession of Aadhaar number or furnish alternate and viable means of identification, registration allotted to such person shall be deemed to be invalid.<br />
<br />
4. <b>Composition Scheme will apply to service providers also</b><br />
Section 10 of CGST Act, as is presently, makes provisions only in respect of suppliers of goods. This section is proposed to be amended by inserting section 10(2A) of CGST Act to provide for composition scheme for suppliers of service and goods with aggregate turnover upto Rs 50 lakhs. The tax rate will be upto 3% CGST plus 3% SGST/UTGST.<br />
<br />
Following are other changes in section 10 of CGST Act –<br />
(a) 'Exempt supply' will not include interest or discount on deposits, loans or advances. Thus, this interest will not be considered for calculating 'aggregate turnover' for eligibility of composition scheme.<br />
(b) Interest will also not be considered for calculating exemption limit of first 10/20/40 lakhs in the first year of operation of business.<br />
(c) Casual taxable person or non-resident taxable person will not be eligible for composition scheme. Earlier, conditions (a) and (c) were already provided. Only condition (b) is a fresh relaxation.<br />
<br />
5.<b> Changes in calculation of exemption of 20/40 lakhs</b><br />
The small taxable persons with aggregate turnover upto 10/20/40 lakhs are not required to register under CGST. Now, it is provided that Calculation of exemption of 20/40 lakhs will be excluding interest on deposits, loans and advances – explanation 2 to section 22 of CGST Act (proposed to be inserted)<br />
<br />
6. <b>Powers to Central Government to refund State Tax</b><br />
At present, if taxable person is under jurisdiction of Central Government, if Central Government sanctions refund, the taxable person has to go to State/Union Territory GST authorities to get refund of SGST/UTGST. Now, it is provided that Central Tax Authorities may refund SGST/UTGST also – section 54(6A) of CSGT Act proposed to be inserted.<br />
<br />
7. <b>Penalty for profiteering</b><br />
Penalty upto 10% of amount profiteered can be imposed by Authority for Anti-Profiteering. The penalty will not be payable if amount ordered is deposited within 30 days – section 171(3A) of CGST Act proposed to be inserted.<br />
<br />
8. <b>National Appellate Authority for Advance Ruling</b><br />
National Appellate Authority for Advance Ruling (NAAAR) will be constituted by Central Government on recommendation of GST Council, under section 101A of CGST Act (proposed to be inserted). The NAAAR shall consist of President, Technical Member (Centre) and Technical Member (State).<br />
Presently, appeal against order of Authority of Advance Ruling (AAR) of a State/Union Territory lies with Appellate Authority of Advance Ruling (AAAR) of the State/Union Territory. It is found that in some case, the Appellate Authority of Advance Ruling (AAAR) of two States/Union Territories give conflicting advance rulings on same question. In that case, provision has been made to file appeal before National Appellate Authority for Advance Ruling.<br />
Appeal can be filed by – (a) departmental officer authorised by Commissioner of the State where AAAR has given ruling (b) Applicant who is distinct person as per section 25 of CGST Act [i.e. person who has obtained separate GST registration in different State, but with same Income Tax PAN] - section 101B(1) of CGST Act (proposed to be inserted).<br />
Thus, third person cannot file appeal, even if he is aggrieved by decisions of two different AAAR of two different States/Union Territories.<br />
Appeal should be filed within 30 days in case of taxable person and within 90 days in case of departmental appeal - section 101B(2) of CGST Act (proposed to be inserted). The NAAAR can condone delay in filing appeal.<br />
The ruing of NAAAR shall be binding on department only in respect of taxable persons with same Income Tax PAN. The ruling will also bind applicants and registered persons with same Income Tax PAN [In case of other taxable persons, the ruling will only have persuasive value - section 103 (1A) of CGST Act (proposed to be inserted).<br />
<br />
9. <b>Time limit for filing TCS statement can be extended</b><br />
Section 52 of CGST Act is being amended to provide powers to Commissioner for granting extension of time limit for filing TCS statements [at present, such exemption is given by circulars or notifications without authority].<br />
<br />
10. <b>Time limit for filing annual return can be extended</b><br />
Section 44 of CGST Act is being amended to provide powers to Commissioner for granting extension of time limit for filing annual returns [at present, such exemption is given by circulars or notifications without authority].<br />
<br />
11.<b> Amnesty Scheme for past dues of excise duty, service tax and other taxes which were payable upto 30-6-2017</b><br />
A scheme titled 'Sabka Vikas Legacy Dispute Resolution) Scheme, 2019 is proposed to be inserted. The scheme is for resolution and settlement of legacy cases of Central Excise, service tax and other taxes.<br />
<br /></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-90888133193848630532019-06-12T04:08:00.004-07:002019-06-12T04:08:49.784-07:00Transition plan to the new GST Return<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
The GST Council in its 31st meeting decided that a new GST return system will be introduced to facilitate taxpayers. In
order to ease transition to the new return system, a transition plan has been worked out. The details of the indicative
transition plan are as below: -</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There are three main components to the new return – </div>
<div style="text-align: justify;">
One main return (FORM GST RET-1) and two
annexures (FORM GST ANX-1 and (FORM GST ANX-2) respectively.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Between July to September, 2019 (for three months), the new return system (ANX-1 & ANX-2 only) would be
available for trial for taxpayers to make themselves familiar. In this period, taxpayers shall continue to fulfill their compliances by
filing FORM GSTR-1 and FORM GSTR-3B.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Form GST ANX -1 is compulsory for large tax payers from October, 2019 and from January, 2020 for small tax payers-</div>
<div style="text-align: justify;">
From October, 2019 onwards, FORM GST ANX-1 shall be made compulsory and FORM GSTR-1 would be
replaced by FORM GST ANX-1. The large taxpayers (i.e. those taxpayers whose aggregate annual turnover in the
previous financial year was more than Rs. 5 Crore) would upload their monthly FORM GST ANX-1 from October,
2019 onwards. However, the first compulsory quarterly FORM GST ANX-1 to be uploaded by small taxpayers (with
aggregate annual turnover in the previous financial year upto Rs. 5 Crore) would be due only in January, 2020 for the
quarter October to December, 2019. It may be noted that invoices etc. can be uploaded in FORM GST ANX-1 on a
continuous basis both by large and small taxpayers from October, 2019 onwards. FORM GST ANX-2 may be
viewed simultaneously during this period but no action shall be allowed on such FORM GST ANX-2. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Filing of GSTR-3B shall be continued for large tax payers till December, 2019 and for small tax payers till September,2019. From January, 2020 onwards, all taxpayers shall be filing FORM GST RET-01 and FORM GSTR-3B shall be completely phased out.-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For October and November, 2019, large taxpayers would continue to file FORM GSTR-3B on monthly basis. They
would file their first FORM GST RET-01 for the month of December, 2019 by 20th
January, 2020. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The small taxpayers would stop filing FORM GSTR-3B and would start filing FORM GST PMT-08 from October,
2019 onwards. They would file their first FORM GST-RET-01 for the quarter October, 2019 to December, 2019
from 20th
January, 2020. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="text-align: left;"><a href="https://drive.google.com/open?id=1IsF1tKr7dWTa3ZuphkUsbab8-qBWj0AO" target="_blank">Full text of press release- Transition plan to the new GST Return.</a></span></div>
<div style="text-align: justify;">
<span style="font-size: xx-small;"><span style="text-align: left;">Source: </span><a href="http://pib.nic.in/" style="text-align: left;">http://pib.nic.in</a></span></div>
<div style="text-align: justify;">
<br /></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-36631845960074100912019-03-08T23:46:00.000-08:002019-03-08T23:46:12.554-08:00GST changes applicable from April 1, 2019<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
<span lang="EN-US" style="background: white; color: #002060;">To reducing the compliance burden of small taxpayers and to bring certainty in various ambiguous matters, GST Council in the 32nd meeting, held on 10th January, 2019, had taken various key decisions. </span></div>
<div style="text-align: justify;">
<span lang="EN-US" style="background: white; color: #002060;"><br /></span></div>
<div style="text-align: justify;">
<span lang="EN-US" style="background: white; color: #002060;"><span lang="EN-US" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; font-family: "georgia" , serif;">There are 7 important changes <span style="font-family: "times new roman";">effective from April 1, 2019.</span> This article gives insight of notifications and circulars issued on March 7, 2019 by the CBIC.</span></span></div>
<br />
<a href="https://drive.google.com/open?id=1FdhivotdslLQAq63D6-jQI4iN8oP2hQf" target="_blank">Read more</a></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-71363332265392418042019-01-10T22:21:00.001-08:002019-01-10T22:23:38.844-08:00GST UPDATES<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR3gLxqhUOKi6XqJ2SZdJUCxA5205v5bc5J17iC-tSVg-q3BNAcmw00bIT7-VdSQL2hLjpGZvPvtBnTMaEdN_YFg0gF6HU6JJezAfPxu75hivBth75fo1cvJMUBHTbpJem8Q_FC-t8wlZt/s1600/Untitled.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="318" data-original-width="418" height="243" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiR3gLxqhUOKi6XqJ2SZdJUCxA5205v5bc5J17iC-tSVg-q3BNAcmw00bIT7-VdSQL2hLjpGZvPvtBnTMaEdN_YFg0gF6HU6JJezAfPxu75hivBth75fo1cvJMUBHTbpJem8Q_FC-t8wlZt/s320/Untitled.jpg" width="320" /></a></div>
<br /></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-12885351410089716922018-07-23T01:38:00.002-07:002018-07-23T01:42:34.793-07:00Recommendations made during the 28th GST Council Meet: Based on Official Press Release<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #555555; font-family: "verdana" , sans-serif; font-size: 11.5pt;">The GST Council in its 28</span><sup><span style="border: none 1.0pt; color: #555555; font-family: "inherit" , serif; font-size: 9.0pt; padding: 0in;">th</span></sup><span style="color: #555555; font-family: "verdana" , sans-serif; font-size: 11.5pt;">meeting
held here today has recommended certain amendments in the CGST Act, IGST Act,
UTGST Act and the GST (Compensation to States) Act.<o:p></o:p></span></div>
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<b><span style="border: none 1.0pt; color: #555555; font-family: "inherit" , serif; font-size: 11.5pt; padding: 0in;">The major recommendations are as detailed below:<o:p></o:p></span></b></div>
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<ol start="1" style="margin-top: 0in;" type="1">
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Upper limit of turnover for
opting for composition scheme to be raised from </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">1 crore
to </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">1.5
crore. Present limit of turnover can now be raised on the recommendations
of the Council.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Composition dealers to be
allowed to supply services (other than restaurant services), for upto a
value not exceeding 10% of turnover in the preceding financial year, or </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">5
lakhs, whichever is higher.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Levy of GST on reverse
charge mechanism on receipt of supplies from unregistered suppliers, to be
applicable to only specified goods in case of certain notified classes of
registered persons, on the recommendations of the GST Council.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">The threshold exemption
limit for registration in the States of Assam, Arunachal Pradesh, Himachal
Pradesh, Meghalaya, Sikkim and Uttarakhand to be increased to </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">20
Lakhs from </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">10
Lakhs.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Taxpayers may opt for
multiple registrations within a State/Union territory in respect of
multiple places of business located within the same State/Union territory.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Mandatory registration is
required for only those e-commerce operators who are required to collect
tax at source.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Registration to remain
temporarily suspended while cancellation of registration is under process,
so that the taxpayer is relieved of continued compliance under the law. <o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l3 level1 lfo1; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">The following transactions
to be treated as no supply (no tax payable) under Schedule III:<o:p></o:p></span></li>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Supply of goods from a place in the non-taxable
territory to another place in the non-taxable territory without such goods
entering into India;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Supply of warehoused goods to any person before
clearance for home consumption; and<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Supply of goods in case of high sea sales.<o:p></o:p></span></div>
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<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Scope of input tax credit is
being widened, and it would now be made available in respect of the
following:<o:p></o:p></span></li>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Most of the activities or transactions specified in
Schedule III;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Motor vehicles for transportation of persons having
seating capacity of more than thirteen (including driver), vessels and
aircraft;<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Motor vehicles for transportation of money for or
by a banking company or financial institution;<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .1in; margin-left: 49.5pt; margin-right: 0in; margin-top: 0in; mso-list: l2 level1 lfo2; tab-stops: list 49.5pt; text-align: justify; text-indent: -13.5pt; vertical-align: baseline;">
<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Services of general insurance, repair and
maintenance in respect of motor vehicles, vessels and aircraft on which credit
is available; and<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="color: #555555; font-family: "wingdings"; font-size: 10.0pt;"><span style="mso-list: Ignore;">§<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="color: #555555; font-family: "inherit" , serif; font-size: 11.5pt;">Goods or services which are obligatory for an
employer to provide to its employees, under any law for the time being in
force.<o:p></o:p></span></div>
<ol start="10" style="margin-top: 0in;" type="1">
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">In case the recipient fails
to pay the due amount to the supplier within 180 days from the date of
issue of invoice, the input tax credit availed by the recipient will be
reversed, but liability to pay interest is being done away with.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Registered persons may issue
consolidated credit/debit notes in respect of multiple invoices issued in
a Financial Year.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Amount of pre-deposit
payable for filing of appeal before the Appellate Authority and the
Appellate Tribunal to be capped at </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">25 Crores and </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 11.5pt;">`</span><span style="font-family: "inherit" , serif; font-size: 11.5pt;">50 Crores, respectively.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Commissioner to be empowered
to extend the time limit for return of inputs and capital sent on job
work, upto a period of one year and two years, respectively.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Supply of services to
qualify as exports, even if payment is received in Indian Rupees, where
permitted by the RBI.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Place of supply in case of
job work of any treatment or process done on goods temporarily imported
into India and then exported without putting them to any other use in
India, to be outside India.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">Recovery can be made from
distinct persons, even if present in different State/Union territories.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #555555; line-height: normal; margin-bottom: .1in; mso-list: l0 level1 lfo4; tab-stops: list .5in; text-align: justify; vertical-align: baseline;"><span style="font-family: "inherit" , serif; font-size: 11.5pt;">The order of cross-utilisation
of input tax credit is being rationalised.<o:p></o:p></span></li>
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<b><span style="border: none 1.0pt; color: #555555; font-family: "inherit" , serif; font-size: 11.5pt; padding: 0in;">These
amendments will now be placed before the Parliament and the legislature of
State and Union territories with legislatures for carrying out the amendments
in the respective GST Acts.<o:p></o:p></span></b></div>
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<b><span style="border: none 1.0pt; color: #555555; font-family: "inherit" , serif; font-size: 11.5pt; padding: 0in;">Press Release:</span></b></div>
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<h4>
<ul>
<li style="text-align: left;"><span style="background-color: transparent; font-size: 15.3333px; text-align: left;"><span style="font-family: inherit , serif;"><span style="color: #990000;">GST RATE ON GOODS </span><span style="color: #555555; font-weight: bold;"> </span></span></span><span style="color: #0000ee; font-size: xx-small;"><b><u><a href="https://drive.google.com/file/d/1Y6hVAg9F3rRaNzD3rr3AL8ZrT_lAT5DV/view?usp=sharing">https://drive.google.com/file/d/1Y6hVAg9F3rRaNzD3rr3AL8ZrT_lAT5DV/view?usp=sharing</a></u></b></span></li>
</ul>
</h4>
<ul style="text-align: left;">
<li><span style="background-color: transparent; text-align: left;"><span style="font-family: inherit , serif;"><span style="font-size: 15.3333px;"><span style="color: #990000;"><b>GST RATE ON SERVICES</b></span><span style="color: #555555;"> </span></span><a href="https://drive.google.com/file/d/1gatR8PnnjW0waYcfFl18wbFKc4kD2nHx/view?usp=sharing" style="color: #555555;" target="_blank"><span style="font-size: xx-small;">https://drive.google.com/file/d/1gatR8PnnjW0waYcfFl18wbFKc4kD2nHx/view?usp=sharing</span></a></span></span></li>
</ul>
<div>
<ul style="text-align: left;">
<li><span style="font-size: 15.3333px;"><span style="color: #990000;"><b>SIMPLIFIED G<span style="font-family: inherit;">ST RET</span>URN</b></span> </span><a href="https://drive.google.com/file/d/1Wfz7VY0-iiPiLGePN7n0IA8z8vFDIC71/view?usp=sharing" target="_blank"><span style="font-size: xx-small;">https://drive.google.com/file/d/1Wfz7VY0-iiPiLGePN7n0IA8z8vFDIC71/view?usp=sharing</span></a></li>
</ul>
</div>
<div>
<h3>
</h3>
<h4>
<ul style="text-align: left;">
<li><span style="color: #990000;"><span style="font-family: inherit;"><b><span style="font-family: inherit;">ON OPENING OF MIGRATION WINDOW</span> - </b></span><b>for taxpayers, who received provisional IDs but could not <b>complete the migration process. </b></b><a href="https://drive.google.com/open?id=1SzH85rHedR7VIMDoqpoR3x1JrP9w5Nq2" style="font-family: inherit; font-size: x-small; font-weight: bold;" target="_blank">https://drive.google.com/open?id=1SzH85rHedR7VIMDoqpoR3x1JrP9w5Nq2</a></span></li>
</ul>
</h4>
</div>
<br />
<br /></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-45536728835233780312018-01-15T23:17:00.000-08:002018-01-16T00:53:42.804-08:00E-Way Bill System<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="box-sizing: border-box; color: #1e314f; font-family: "Source Sans Pro", sans-serif; font-weight: 500; line-height: 1.1; margin-bottom: 10px; margin-top: 20px;">
<span style="font-size: small;"><div class="MsoNormal" style="background: #FAFAFA; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">Under GST, transporters should carry an e-Way Bill when moving goods
from one place to another. Since it is a new rule introduced under GST, it is
necessary for all consignors/ consignees/ transporters to be aware of the
required compliance. <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: inherit , serif; font-size: 14pt;">E-Way Bill<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">E-Way Bill is an electronic way bill for movement of goods which can be
generated on the e-Way Bill Portal. Transport of goods of more than </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 12pt;">`</span><span style="font-family: "arial" , sans-serif; font-size: 12pt;">50,000 in value cannot be made by a registered person without an e-way
bill.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">E-way bill can also be managed through web portal and/or SMS.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">When an e-way bill is generated a unique e-way bill number (EBN) is
allocated and is available to the supplier, recipient, and the transporter.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">E-way bill will be generated when there is a movement of goods of value
more than </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 12pt;">`</span><span style="font-family: "arial" , sans-serif; font-size: 12pt;">50,000 –<o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">In relation to a ‘supply’<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">For reasons other than a ‘supply’ (e.g. goods
return)<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Due to inward ‘supply’ from an unregistered
person<o:p></o:p></span></li>
</ul>
<div class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">For this purpose, a supply may be
either of the following:<o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">A supply made for a consideration (payment) in
the course of business<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">A supply made for a consideration (payment)
which may not be in the course of business<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">A supply without consideration (without
payment)In simpler terms, the term ‘supply’ usually means a:<o:p></o:p></span></li>
</ul>
<ol start="1" type="1">
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Sale – sale of goods and payment made<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Transfer – branch transfers for instance<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Barter/Exchange – where the payment is by
goods instead of in money<o:p></o:p></span></li>
</ol>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">Therefore, E-Way Bills must be generated on the common portal for all above
types of movements.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: inherit , serif; font-size: 14pt;"> When E-Way bill is not required<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">In the following cases it is not necessary to generate E-Way Bill:<o:p></o:p></span></div>
<ol start="1" type="1">
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">The mode of transport is non-motor vehicle<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Goods transported from port, airport, air-cargo
complex or land customs station to Inland Container Depot (ICD) or
Container Freight Station (CFS) for clearance by Customs.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">The distance between the consigner or
consignee and the transporter is less than 10 Kms and transport is within
the same state.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Transport of specified goods (<a href="https://drive.google.com/open?id=1N4BFHiRuv0JUyNz-5SZ5pxMPiXnLbGit" target="_blank">List of Goods</a>)*.<o:p></o:p></span></li>
</ol>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: inherit , serif; font-size: 14pt;"> Who is required to generate an E-Way
Bill<o:p></o:p></span></b></div>
<ul type="disc">
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Registered Person</span></b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;"> – E-way bill must be
generated when there is a movement of goods of more than </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 12.0pt;">`</span><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">50,000 in value to or from a Registered
Person. A Registered person or the transporter may choose to generate and
carry e-way bill even if the value of goods is less than </span><span style="font-family: "rupee foradian" , sans-serif; font-size: 12.0pt;">`</span><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">50,000.<o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Unregistered Persons</span></b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;"> – Unregistered persons
are also required to generate e-Way
Bill. However, where a supply is made by an unregistered person to a
registered person, the receiver will have to ensure all the compliances
are met as if they were the supplier.<b> </b><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; line-height: normal; text-align: justify;"><b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;">Transporter</span></b><span style="font-family: "arial" , sans-serif; font-size: 12.0pt;"> – Transporters carrying goods by
road, air, rail, etc. also need to generate e-Way Bill if the
supplier has not generated an e-Way Bill.<o:p></o:p></span></li>
</ul>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; border: none; mso-border-alt: solid #DDDDDD .75pt; mso-yfti-tbllook: 1184; width: 0px;">
<tbody>
<tr>
<td style="border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt; text-align: justify;">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Who<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt; text-align: justify;">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">When<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt; text-align: justify;">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Part<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt; text-align: justify;">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Form<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Every Registered
person under GST<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Before movement
of goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Fill Part A<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Form GST EWB-01<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Registered person
is consignor or consignee (mode of transport may be owned or hired) OR is
recipient of goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Before movement
of goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Fill Part B<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Form GST EWB-01<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Registered person
is consignor or consignee and goods are handed over to transporter of
goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Before movement
of goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Fill Part B<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;"> The
registered person shall furnish the information relating to the transporter
in Part B of FORM GST EWB-01<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Transporter of
goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Before movement
of goods<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"></td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;"> Generate
e-way bill on basis of information shared by the registered person in Part A
of FORM GST EWB-01<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 144.45pt;" valign="top" width="193"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">An unregistered
person under GST and recipient is registered<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 98.15pt;" valign="top" width="131"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Compliance to be
done by Recipient as if he is the Supplier.<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 94.5pt;" valign="top" width="126"></td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 117.0pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: normal; margin-bottom: 15.0pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;"> 1. If the
goods are transported for a distance of ten kilometers or less, within the same
State/Union territory from the place of business of the consignor to the
place of business of the transporter for further transportation, the supplier
or the transporter may not furnish the details of conveyance in Part B of
FORM GST EWB-01.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 7.5pt;">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">2. If supply is
made by air, ship or railways, then the information in Part A of FORM GST
EWB-01 has to be filled in by the consignor or the recipient<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: "arial" , sans-serif; font-size: 12pt;"><br />
Note:</span></b><span style="font-family: "arial" , sans-serif; font-size: 12pt;"> If a transporter is transporting multiple consignments in a single
conveyance, they can use the form GST EWB-02 to produce a <a href="https://cleartax.in/s/generate-gst-consolidated-eway-bill" target="_blank"><span style="color: #1e314f; text-decoration-line: none;">consolidated
e-way bill</span></a>, by providing the e-way bill numbers of each consignment.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">If both the consignor and the consignee have not created an e-way bill,
then the transporter can do so by filling out PART A of FORM GST EWB-01 on the
basis of the invoice/bill of supply/delivery challan given to them.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: inherit , serif; font-size: 14pt;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify;">
<b><span style="font-family: inherit , serif; font-size: 14pt;">Validity of E-Way Bill</span></b><span style="font-family: "arial" , sans-serif; font-size: 14pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; text-align: justify;">
<span style="font-family: "arial" , sans-serif; font-size: 12pt;">An e-way bill is
valid for periods as listed below, which is based on the distance travelled by
the goods. Validity is calculated from the date and time of generation of e-way
bill-<o:p></o:p></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; border: none; mso-border-alt: solid #DDDDDD .75pt; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184; width: 0px;">
<tbody>
<tr>
<td style="border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 296.6pt;" valign="top" width="395"><div class="MsoNoSpacing">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Distance<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"><div class="MsoNoSpacing">
<b><span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Validity of EWB<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 296.6pt;" valign="top" width="395"><div class="MsoNoSpacing">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">Less Than 100 Kms<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"><div class="MsoNoSpacing">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">1 Day<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 296.6pt;" valign="top" width="395"><div class="MsoNoSpacing">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">For every additional 100 Kms or part thereof<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"><div class="MsoNoSpacing">
<span style="color: #1e314f; font-family: "arial" , sans-serif; font-size: 12.0pt;">additional 1 Day<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
</span></h2>
<div style="box-sizing: border-box; font-family: "source sans pro", sans-serif; line-height: 1.1; margin-bottom: 10px; margin-top: 20px; text-align: left;">
<span style="color: #444444;"><b>Latest Update on e-Way Bill</b></span></div>
<div dir="auto" style="box-sizing: border-box; color: #1e314f; font-family: "Source Sans Pro", sans-serif;">
1. E way bill rules will be rolled out on a trial basis from 16th Jan 2018</div>
<div dir="auto" style="box-sizing: border-box; color: #1e314f; font-family: "Source Sans Pro", sans-serif;">
2. The e-way bill rules will be implemented in India from 1st February 2018</div>
<div dir="auto" style="box-sizing: border-box; color: #1e314f; font-family: "Source Sans Pro", sans-serif;">
3. The states can opt to follow the e-way bill system anytime before 1st June 2018</div>
<div dir="auto" style="box-sizing: border-box; color: #1e314f; font-family: "Source Sans Pro", sans-serif;">
4. From 1st June 2018 e-way bill rules will uniformly apply to all states.</div>
<br />
<b><span style="color: blue;">E-Way Bill System Manual:</span></b> <a href="https://drive.google.com/open?id=1kbtf3XG33965G0ObdLJDx9I4VDFfp5_w" target="_blank"><span style="color: red;">https://drive.google.com/open?id=1kbtf3XG33965G0ObdLJDx9I4VDFfp5_w</span></a><br />
<br />
<span style="font-size: xx-small;">Source:National Informatics Centre;New Delhi</span></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-66587829093353171522017-09-16T05:56:00.002-07:002017-09-16T05:56:23.181-07:00Applicability of GST on Charitable Trust or NGO, Colleges and Universities<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="color: #0b5394;">Read: <a href="https://drive.google.com/open?id=0B1rRav-P4-8JSjRObkVqd1RNeHc" target="_blank">https://drive.google.com/open?id=0B1rRav-P4-8JSjRObkVqd1RNeHc</a></span><br />
<br />
<span style="color: red;">Source: <a href="https://drive.google.com/open?id=0B1rRav-P4-8Jb3FiVHFZbzFubW8">https://drive.google.com/open?id=0B1rRav-P4-8Jb3FiVHFZbzFubW8</a></span></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-63758593329677483762017-08-31T00:48:00.001-07:002017-08-31T00:48:35.622-07:00E-WAY BILL<div dir="ltr" style="text-align: left;" trbidi="on">
Every registered person who causes movement of goods of
consignment value exceeding fifty thousand rupees—<br />
(i) in relation to a supply; or<br />
(ii) for reasons other than supply; or<br />
(iii) due to inward supply from an unregistered person,<br />
shall,before commencement of such movement, furnish information relating to the said
goods in Part A of FORM GST EWB-01, electronically, on the common portal.<br />
<br />
Read more: <a href="https://drive.google.com/open?id=0B1rRav-P4-8JbEU5cEZmY2lTNWc" target="_blank">Notification No.27 /2017 – Central Tax, dated 30th August, 2017</a><br />
<br />
<span style="font-size: xx-small;">Source: www.cbec.gov.in</span></div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-88691657494253935482017-08-09T05:07:00.000-07:002017-08-09T05:12:24.855-07:00Due dates of filing GST returns for the month of July and August, 2017<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-insideh: none; mso-border-insidev: none; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184; width: 0px;">
<tbody>
<tr>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 103.25pt;" valign="top" width="138"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">Form No.<o:p></o:p></span></b></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 122.15pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">For July 2017<o:p></o:p></span></b></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 125.35pt;" valign="top" width="167"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">For Aug. 2017<o:p></o:p></span></b></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">Notification No.<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 103.25pt;" valign="top" width="138"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">FORM GSTR - 1<o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 122.15pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">1 to 5 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 125.35pt;" valign="top" width="167"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">16 to 20 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;"><a href="https://drive.google.com/open?id=0B1rRav-P4-8JeWxmc1lXNDRRU28" target="_blank">Notification No.18</a><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 103.25pt;" valign="top" width="138"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">FORM GSTR - 2<o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 122.15pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">6 to 10 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 125.35pt;" valign="top" width="167"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">21 to 25 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;"><a href="https://drive.google.com/open?id=0B1rRav-P4-8JeXpuVk1sZFBmdkE" target="_blank">Notification No.19</a><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 103.25pt;" valign="top" width="138"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">FORM GSTR-3<o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 122.15pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">11 to 15 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 125.35pt;" valign="top" width="167"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">26 to 30 September <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;"><a href="https://drive.google.com/open?id=0B1rRav-P4-8JTzc1ekl5VWYtbW8" target="_blank">Notification No.20</a><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 103.25pt;" valign="top" width="138"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">FORM GSTR 3B<o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 122.15pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">20th August <o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 125.35pt;" valign="top" width="167"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;">20th September<o:p></o:p></span></div>
</td>
<td style="padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168"><div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #222222; font-family: "arial" , sans-serif; font-size: 12.0pt; line-height: 150%;"><a href="https://drive.google.com/open?id=0B1rRav-P4-8Jdms0OGEtTXJfZEE" target="_blank">Notification No.21</a><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<br />
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-9403239264486659542017-08-07T01:28:00.000-07:002017-08-07T01:28:06.435-07:00Rate on textile job works lowered<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="color: #3e3e3e; font-family: "Droid Serif", serif; font-size: 16px;">The Goods and Services Tax (GST) Council in its 20th meeting on Saturday decided to cut the tax rate for job work for the entire value chain of textiles sector to 5 per cent.</span><br />
<span style="color: #3e3e3e; font-family: "Droid Serif", serif; font-size: 16px;"><br /></span>
<span style="color: #3e3e3e; font-family: "Droid Serif", serif; font-size: 16px;">Read more: </span><a href="https://drive.google.com/open?id=0B1rRav-P4-8JU3piUDQzZG1YbFU" target="_blank">https://drive.google.com/open?id=0B1rRav-P4-8JU3piUDQzZG1YbFU</a><br />
<br />
<span style="font-size: xx-small;">Source: <a href="http://www.cbec.gov.in/resources/.../gst/Decisions-in-20th%20-GST-council-meeting.pdf" style="font-family: Arial, sans-serif;">www.cbec.gov.in/resources//.../gst/Decisions-in-20th%20-GST-council-meeting.pdf</a></span><br />
<div class="MsoNormal">
<span style="background: white; color: #006621; font-family: "Arial",sans-serif; font-size: 10.5pt; line-height: 107%;"><o:p></o:p></span></div>
</div>
Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0tag:blogger.com,1999:blog-2524388592793363664.post-61255479036791310762017-07-27T10:05:00.000-07:002017-07-27T10:12:28.040-07:00Details to be mentioned in Form GSTR-3B<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="metadata" style="background-color: white; border-bottom: 1px solid rgb(241, 241, 241); box-sizing: border-box; color: #333333; font-family: "Source Sans Pro", sans-serif; font-size: 16px; padding-bottom: 8px;">
<h1 class="title" style="box-sizing: border-box; color: #1e314f; font-family: inherit; font-size: 34px; line-height: 1.1; margin: 0px 0px 4px;">
</h1>
</div>
<div class="content" style="background-color: white; box-sizing: border-box; font-family: "Source Sans Pro", sans-serif; font-size: 16px; line-height: 1.7; margin-bottom: 16px; margin-top: 0px;">
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
In order to address the concerns of small taxpayers who are still maintaining manual records, the GST Council has now proposed a relaxation in return filing for the month of July and August. September onwards, every taxpayer has to strictly follow the regular provisions of filing return on 10th, 15th and 20th of next month i.e. October. <b><u>Also, there will be no late fee or penalty levied for the initial two months.</u></b></div>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="text-align: start;">As per the revised rules, a new form <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a> will be introduced by the government. Every taxpayer needs to file his return on self-assessment basis for the first two months i.e July and August. These return forms have to be filed by 20th of next month. Simultaneously, the taxpayer has to file the GSTR-1 for the month of July on or before September 5; an extension of 25 days has been extended for the month of July. For the month of August, this extension is limited to a period of 10 days. Once GSTR-1 is filed, GSTR-2 and GSTR-3 will auto-populate with information furnished under GSTR-1. Eventually, this GSTR-3 will be matched against <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a> and any difference will be refunded or needs to be paid as the case may be. However, no penalty or late fees will be charged on the difference.</span></div>
<div style="box-sizing: border-box; margin-bottom: 10px; text-align: justify;">
<span style="color: black;"><b><u>Form <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a></u></b></span><span style="box-sizing: border-box;"><b><u> </u></b><span style="color: #1e314f;"><b><u>needs to be filed by a taxable person under GST for submitting the provisional assessment of the tax liability. Provisional assessment of the taxes to be filed under form <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a> is only applicable for the month of July and August</u>.</b> <u><b>A taxable person has to file the <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a> for the invoices generated in July by 20th August and for the invoices pertaining to the month of August has to be filed by 20th September.</b></u></span></span><span style="color: #1e314f;"> </span><span style="box-sizing: border-box; color: #1e314f;">Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and has to file form <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a>.</span></div>
<h2 style="box-sizing: border-box; color: inherit; font-family: inherit; font-size: 30px; font-weight: 500; line-height: 1.1; margin-bottom: 10px; margin-top: 20px;">
</h2>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">A full detail of the tax under different heads CGST, SGST, UTGST, IGST and cess for the transactions which were taxable due to reverse charge. </span><span style="box-sizing: border-box;">Tax applicable on following transactions has to be mentioned</span></div>
<ol style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Sale of goods/ providing services which are not zero rated, nil rated or exempted.</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Sale of goods/ providing services which are zero rated</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Sale of nil rated or exempted goods or service provided which are nil rated or exempted.</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Purchase of goods or services received on which reverse charge is applicable.</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Sale of products or services provided which are not covered under GST.</span></li>
</ol>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">Following details are to be mentioned for the sale of goods or providing service to an unregistered dealer, composition taxable person and entities holding UIN like WHO, embassy etc.</span></div>
<ol style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; margin-top: 0px;">
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Name of the place from where the goods were dispatched or from where the service was provided.</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">Total Taxable value* of the goods sold or the services provided.</span></li>
<li style="box-sizing: border-box; text-align: justify;"><span style="box-sizing: border-box;">A total of the Integrated goods and service tax (IGST) applicable on the transactions.</span></li>
</ol>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">* Value of Taxable Supplies = Value of invoices + value of Debit Notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices</span></div>
<h3 style="box-sizing: border-box; color: inherit; font-family: inherit; font-size: 24px; font-weight: 500; line-height: 1.1; margin-bottom: 10px; margin-top: 20px; text-align: justify;">
Details of ITC Available</h3>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">A thorough calculation of the ITC available on the import of goods or services and on account of the purchases made from an ISD and purchases on which reverse charge is applicable has to be completed by the taxable person. Net ITC available has to be mentioned after deducting the ITC reversed for example due to the inputs being returned. </span><span style="box-sizing: border-box;">ITC which is ineligible to be claimed under GST like the ITCon the supply of goods or service by a fitness club or health center.</span></div>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">The total value of the purchase of inputs from a composition taxable person or services received and nil rated or exempted inputs have to be bifurcated separately for intrastate and interstate.</span></div>
<div style="box-sizing: border-box; color: #1e314f; margin-bottom: 10px; text-align: justify;">
<span style="box-sizing: border-box;">Every taxable person under GST needs to calculate the tax liability under the different heads IGST, CGST, SGST, UTGST, and cess. Details of ITC available under different heads used for paying the tax liability. Any liability under head interest and the late fee has to be shown separately. The amount of tax or cess paid in cash is to be shown separately.</span></div>
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<span style="box-sizing: border-box;">Credit available due to the TDS deducted on acceptance of government contract or TCS collected on being an online aggregator has to be mentioned in the form <a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">GSTR-3B</a>. Advance received is to be adjusted while calculating the total taxable value of the goods supplied or services provided and is not required to be shown separately in the form <a href="http://gstr-3b./">GSTR-3B.</a></span></div>
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<span style="color: red;"><b>➤<a href="https://drive.google.com/open?id=0B1rRav-P4-8JTThjbzJPU2RseEU" target="_blank">Format of GSTR- 3B</a></b></span></div>
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Vinay Kaushik & Co.http://www.blogger.com/profile/03580596094619980155noreply@blogger.com0