#gst updates

[ngo-pilot123]

GST amnesty scheme for 2017–18,2018–19 & 2019–20

In the GST Notification №21/2024–Central Tax issued on October 8, 2024 taxpayers are granted substantial relief removing interest and penalties with regard to tax demands claimable under section 73 of the CGST act for the three financial years ending 2017–18, 2018–19 and 2019–20. This notification helps to ensure compliance through the addition of exceptions to the extra charges which apply if the taxpayer pays their taxes within certain deadlines.

Waiver deadlines and conditions

Persons who have been issued with such notices, statements or orders under Section 128A of the CGST Act must pay outstanding amount of tax by March 31, 2025. For the parties involved in Section 74’s tax redetermination cases, the waiver time concludes at six months since the generation of the redetermination order.

Learn more

[noticegstka]

Archival of GST return data... Find your information... For more information visit- gstkanotice.com or DM GST ka Notice

#gst #gstkanotice #gstfact #gstupdates #gstreturn #gstregistration #gstcircular #gstn #gstcouncil #gstcouncilmeeting #gsthelp #gstassistance #cbic #icai #business #budget #finance

[uniqueeval]

GST Council meet: TMC's O'Brien urges Sitharaman to withdraw 18% GST on insurance premiums

Derek O’Brien demanded that the GST on health and life insurance premiums be withdrawn. File | Photo Credit: The Hindu TMC leader Derek O’Brien has urged Finance Minister Nirmala Sitharaman to “urgently review” and withdraw the 18% GST on health and life insurance premiums during the upcoming GST Council meeting. Mr. O’Brien, in a letter dated August 24, demanded that the GST on health and life…

[taxguidenilesh]

GST Enrollment | How to Enroll on GST portal as unregistered supplier | GST Registration Enrollment

GST Enrollment | How to Enroll on GST portal as unregistered supplier | GST Registration Enrollment

[cadeveshthakur]

GST Rule 86B restriction on utilization of amount available in electronic credit ledger| 99% allowed R36: GST Update ITC utilization restricted to 99% of the amount available in the electronic credit ledger account. That means, the taxpayers has to pay balance 1% of the output liability of that particular month through electronic cash ledger.Follow the CA Devesh Thakur channel on WhatsApp: https://whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L#gst #inputtaxcredit #gstupdates #gstnews #cadeveshthakur

[synmacconsultants]

GST Registration In Chennai

GST Registration In Chennai

Company Registration in Chennai

Chennai-1 Corporate office Asirvadham Apartment,No. 12, Flat No. 12A, Puliyar 2nd Main Road, 1st Lane, Trust Puram, Kodambakkam, Chennai - 600 024 Chennai-2 Address #56/80, Medavakkam Main Road, Keelkattalai, Chennai - 600 117. Landmark : Opp to Andhra Bank New Delhi Address B44,Birbal Road, Lajpat Nagar II, Lajpat Nagar, New Delhi, Delhi 110024 Bangalore Address No. 117/1, First Floor, 2nd Main Road, Shesadripuram, Bangalore – 560020 Landmark : Near Mantri mall Metro station Copyright © 2016 All rights Reserved;

INTRODUCTION GST :

All persons classified as taxable person under GST are required to obtain GST registration and begin filing GST monthly returns from the month of September, 2017. In this article, we look at the list of documents required for GST registration in India.

We provide below services:

1.GST Registration Consultants In Chennai

2.GST Consultants In Chennai

3.GST Registration Procedure In Chennai

4.GST Services In Chennai

Documents Required for GST Registration

1. PAN Card of the Business or Applicant

GST registration is linked to the PAN of the business. Hence, PAN must be obtained for the legal entity before applying for GST Registration.

2. Identity and Address Proof along with Photographs

The following persons are required to submit their identity proof and address proof along with photographs. For identity proof, documents like PAN, passport, driving license, Aadhaar card or voters identity card can be submitted. For address proof, documents like passport, driving license, Aadhaar card, voters identity card and ration card can be submitted.

Proprietary Concern — Proprietor

Partnership Firm / LLP — Managing/Authorized/Designated Partners (personal details of all partners are to be submitted but photos of only ten partners including that of Managing Partner are to be submitted)

Hindu Undivided Family — Karta

Company- Managing Director, Directors and the Authorized Person

Trust — Managing Trustee, Trustees and Authorized Person

Association of Persons or Body of Individuals-Members of Managing Committee (personal details of all members are to be submitted but photos of only ten members including that of Chairman are to be submitted)

Local Authority — CEO or his equivalent

Statutory Body — CEO or his equivalent

Others — Person(s) in Charge

3. Business Registration Document

Proof of business registration must be submitted for all types of entities. For proprietorships there is no requirement for submitting this document, as the proprietor and proprietorship are considered the same legal entity.

In case of partnership firm the partnership deed must be submitted. In case of LLP or Company, the incorporation certificate from MCA must be submitted. For other types of entities like society, trust, club, government department or body of individuals, registration certificate can be provided.

4. Address Proof for Place of Business

For all places of business mentioned in the GST registration application, address proof must be submitted. The following documents are acceptable as address proof for GST registration.

5. For Own premises

Any document in support of the ownership of the premises like latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill.

6. For Rented or Leased Premises

copy of the valid rental agreement with any document in support of the ownership of the premises of the Lessor like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill. If rental agreement or lease deed is not available, then an affidavit to that effect along with any document in support of the possession of the premises like copy of electricity bill is acceptable.

7. SEZ Premises

If the principal place of business is located in an SEZ or the applicant is an SEZ developer, necessary documents/certificates issued by Government of India are required to be uploaded.

8. All Other Cases

For all other cases, a copy of the consent letter of the owner of the premises with any document in support of the ownership of the premises of the Consenter like Municipal Kharta copy or Electricity Bill copy. For shared properties also, the same documents can be uploaded.

9. Bank Account Proof

Scanned copy of the first page of bank passbook or the relevant page of bank statement or scanned copy of a cancelled cheque containing name of the Proprietor or Business entity, Bank Account No., MICR, IFSC and Branch details including code.

10. Digital Signature

All application for GST registration must be digitally signed with a Class 2 Digital Signature. Hence, its important that digital signature be obtained for the following person who is authorized to sign the GST registration application before beginning the application process.

[onlineaccountingcourses]

Latest GST News, Information, Notifications & Announcements-2023

On 28th February 2023, the food central tax rate notifications and the compensation cess rate notifications were announced by the Central Board of Indirect Taxes and Customs (CBIC). Those rate changes were announced at the 49th GST Council meeting held on the 18th of February 2023. All the revisions relating to the GST rate changes shall be effective from 1st March 2023. 

Rab, also called liquid jaggery, sold loose or without pre-packaging is exempt from GST under Notification No. 04/2023-Central Tax (Rate). As a result of this change, Rab/Liquid jaggery now has a GST rate of nil for loosely sold Rab. Furthermore, the GST rate on pre-packaged and labelled Rab is from 18% to 5% as per Notification No. 03/2023-Central Tax (Rate).

As per Notification No. 03/2023- Central Tax (Rate) has changed the GST rate on pencil sharpeners from 18% to 12% by ensuring its re-classification under HSN code 8214. Furthermore, this change has taken effect from 1st March 2023. 

The GST Council recommended taxing services provided by courts and tribunals under the reverse charge mechanism in its 49th meeting. Accordingly, Notification No. 13/2017 was revised into Notification No. 02/2023-Central Tax (Rate) to include courts and tribunals in its scope.

On 28th February 2023, the government also revised Notification No. 01/2023-Central Tax (Rate), extending GST exemption to another service. As an educational institution, any board, authority, or body set up by the Central or State Governments, including the National Testing Agency (NTA), will conduct entrance examinations. Only such services will be considered for exemption, not any other. 

A final CBIC notification, 01/2023-Compensation Cess (Rate), revises Notification No. 1/2017- Compensation Cess. (Rate), dated 28th June 2017. As a result, coal rejects sold to a coal washery or generated by a coal washery that does not qualify for a tax credit are exempt from cess. The exemption applies to coal rejects supplied to coal washeries in addition to coal washeries' supplies.

For more information, Visit us at: https://academy.tax4wealth.com/

[gstreturn]

Navigating the complexities of GST can be a daunting task, even for seasoned business owners and tax professionals. With constant changes and updates to GST regulations, it can be challenging to stay up-to-date with the latest developments. In this article, we will explore key updates that businesses should be aware of to help them navigate the complexities of GST.

One important update is the introduction of e-invoicing for businesses with a turnover of more than 50 crore rupees. E-invoicing has been introduced to improve compliance and reduce errors in the invoicing process. It is mandatory for businesses to generate invoices through the GST portal, and failure to do so can result in penalties.

Another significant update is the extension of due dates for filing GST returns. The government has announced an extension of deadlines for various GST returns, providing businesses with additional time to comply with their filing obligations.

Moreover, the GST Council has made several changes to the GST rates for various goods and services. For instance, the GST rate on COVID-19 vaccines has been reduced to zero, while the GST on certain medical devices has been reduced to 5%.

In conclusion, navigating the complexities of GST can be challenging, but staying up-to-date with the latest updates can help businesses stay compliant and avoid penalties. By understanding the key updates, businesses can ensure they remain compliant with GST regulations while also taking advantage of any opportunities that arise.

[storiesofsvu]

Man… as much as this laid off bullshit & barely making enough money to survive for 8 weeks truly does SUCK.

The break from that fucking hell hole (affectionate) And some of those terribly toxic people(truth) is fantastic. I havent cried since my last shift…

Despite having no money for groceries, that also means no take out which has forced me into the better habit of cooking for myself & making food at home from what we have. The house is clean, I’ve got more energy, i’m getting my walks/steps/activity in daily which is giving me more energy. I’ve actually got the motivation to put me first for the first time in a LONG time so there is a blessing in this bullshit. (Now if only i had the money to go buy healthy food & pick up some skin care… lool)

(If anyones into that health shit & wants to follow along/join in you can find me over on insta at kattwylliewellness)

[rkdigitalworld]

Pan Card Services, Income tax return (ITR), GST Registration

Money Transfer Services, Bill Payments, Mobile Recharge, Sim Cards, Mobile Accessories, Mobile Repairing, DTH Recharge, Loan Payment, Zero Balance Account, Pan Card Services, Gazzate, Udhyog & Gumasta Licence, Income tax return (ITR), Home Loan & Business Loan, GST Registration, Leave & Licence agreement with Notery, PF Withdrawal, etc...

[antraweb]

What’s New In TallyPrime Release 5.1?

TallyPrime Release 5.1 introduces a range of new features and enhancements designed to simplify business operations and improve compliance. From streamlined GST management and E-Way Bill generation to enhanced payroll processing, this update offers practical solutions for businesses of all sizes. With user-friendly tools and a focus on accuracy and efficiency.

Managing a business comes with its own set of challenges, from staying compliant with evolving regulations to streamlining day-to-day operations. TallyPrime Release 5.1 brings a powerful update designed to simplify and enhance business management for businesses of all sizes.

Packed with new features and improvements, this release focuses on making processes more efficient, compliance smoother, and overall operations more reliable.

Whether you’re managing GST, generating E-Way Bills, or handling payroll, TallyPrime Release 5.1 is built to address common pain points and provide practical solutions. With its user-friendly tools and enhanced capabilities, the software ensures better data accuracy, seamless reporting, and a significant boost in productivity.

Upgrade your business with TallyPrime Release 5.1 and experience the difference it can make in streamlining operations and ensuring compliance. Learn more about its features and how it can transform your business here.

Click Here To Read The Full Blog Now:

https://www.antraweb.com/blog/whats-new-in-tallyprime-5.1

What’s New In TallyPrime Release 5.1?

Visit Our Website To Learn More: https://www.antraweb.com/

[jurishour]

https://www.jurishour.in/indirect-taxes/cestat-rules-on-service-tax-liability-on-handling-charges-collected-by-car-dealers/

CESTAT Rules On Service Tax Liability On Handling Charges Collected By Car Dealers

[mind-your-tax-9]

Recent Important Amendments in the CGST Rules

The GST framework in India has undergone some important updates recently, impacting a range of compliance areas. For businesses, staying abreast of these changes is essential to maintain smooth operations and avoid penalties. As Mind Your Tax, we aim to keep you informed on regulatory changes and their practical implications. Here’s a concise overview of the recent CGST rule amendments and how they may affect your business.

1. Revised E-Invoicing Threshold

The mandatory threshold for e-invoicing has been reduced from ₹10 crores to ₹5 crores in annual turnover. This expansion brings a wider spectrum of businesses under the e-invoicing mandate, thereby increasing the need for real-time compliance. Businesses affected by this change will need to implement compliant e-invoicing solutions to ensure accurate documentation and regulatory adherence.

2. Accelerated Physical Verification for GST Registration

To expedite the registration process while reducing fraud risks, the government has shortened the timeline for physical verification of premises, specifically for applicants without Aadhar authentication. This amendment is expected to streamline the registration procedure, although applicants should ensure all details are promptly available to avoid any delays.

3. Enhanced Restrictions on Input Tax Credit (ITC)

Recent changes reinforce the requirement that ITC can only be claimed if the supplier has filed their GST returns and the credit appears in the recipient’s GSTR-2B. This effectively places increased responsibility on both suppliers and recipients to ensure timely filing. Failure to meet these conditions could result in disallowed credits, impacting cash flow and tax liability planning.

4. New Compliance Requirements for GSTR-1 and GSTR-3B

A significant compliance update pertains to the sequential filing of GSTR-1 and GSTR-3B. Non-filing of GSTR-1 over a consecutive period now triggers restrictions on GSTR-3B filing, making regular and accurate filing critical for uninterrupted business operations. This move aims to address the issue of discrepancies and late submissions, enhancing overall compliance within the GST system.

5. Revised Penalties for E-Way Bill Infractions

For businesses involved in goods transportation, it’s essential to be aware of the adjustments to e-way bill penalties. Increased fines for non-compliance with e-way bill requirements, such as failure to produce proper documents during transit, emphasize the importance of adhering to transport regulations. This amendment promotes accountability across the supply chain.

Partner with Mind Your Tax – Trusted GST Consultants in Bangalore

Given the scope and implications of these amendments, it’s crucial for businesses to reassess their GST compliance frameworks. At Mind Your Tax, our GST consultants in Bangalore provide tailored advisory and compliance services to help you navigate these updates seamlessly. From e-invoicing solutions to ITC management, our experts ensure that your business remains fully compliant with the latest GST regulations.

Conclusion

These amendments underscore the government’s commitment to enhancing transparency and strengthening the GST framework. Staying compliant requires not only awareness but also proactive adjustments to existing systems.

Reach out to Mind Your Tax – your dependable tax consultants in Bangalore – for expert support on all GST and tax compliance matters. Our team is equipped to help you adapt effectively to these changes, ensuring compliance and operational efficiency for your business.