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Tuesday, 15 August 2017

14 August 2017 Updates

E way bill/ TDF goes live in Uttar Pradesh:-
Finally the facility of E Way Bill and Generation of Transit Declaration Form has gone live on Uttar Pradesh Sales Tax Website.
The procedure of generation of E Way Bill/TDF is more organized and refined than before.
Main Highlights are summed up as follows:
Three Types of E Way Bills are there:
1). E Way Bill 01:-
For Goods movement from other state to Uttar Pradesh (Inter State)
2). E Way Bill 02:-
For Goods movement from one city to another city within Uttar Pradesh (Inter City but Intra State)
3).E Way Bill 03:-
For E Commerce Companies Within Uttar Pradesh
Besides the three types of E Way Bills stated above, there is provision for registration for E way Bills for
a).Non GST Goods and
b). Movement of Goods by Unregistered Dealer.
It is important to note that an Unregistered Dealer needs to provide the following information:-
Applicant Name,
Firm Address,
PAN Number,
Aadhar Number,
Mobile Number,
Email and Location
Along with providing the above basic information, they are also required to upload scanned copy of Aadhar Card and PAN, each of which should be less than 200Kb in Size.
An OTP will be sent to Email ID and Mobile No so provided for the purpose of verification.
Now Talking about the Heavy Vehicles passing through Uttar Pradesh.
Every heavy vehicle, passing through UP, is required to generate transit form, while entering UP and utilize it while leaving UP.
Transit module begins with
1).Registration of vehicle followed by
2).User login further followed by
3).TDF Generation followed by
4).Change transit vehicle (In case vehicle is changed)
5). Add transporter,
6).Change password, change vehicle owner, respectively.
Now a deep insight into the above mentioned process. You may also get this information from the TDF User Manual:
Step (i): Registration of Vehicle:-
•This form includes details of vehicle (Vehicle No, Engine No, Chassis No) vehicle owner and transporter to which, vehicle is attached
•In case, if there is no transporter involved, user needs to provide the owner information in transporter detail, section.
•On successful registration, a Unique Registration Number is provided to the user on his registered mail and mobile number.
•This number will act as Password, when user login for the first time after registration.
•However, user can change this password through 'Change Password' Feature.
•Note: when user resets password, this changes only password, and not the Registration number.
Step (ii): Create Log In:-
•User need to provide vehicle number as user id and registration number (for first time) as password to log in.
•However, user can change password at later stage
Step (iii):- Generation of TDF User will be redirected to new screen after log in, if user does not have any pre-generated TDF.
If user have any pre generated TDF, the welcome screen will be as shown
•First of all, User need to generate TDF, while entering UP.
•User needs to provide information, relevant to goods, departure place, destination place etc, while entering UP boundaries
•Once filling all the relevant data, user need to take the print of generated sheet, and carry it while travelling in UP, so as to avoid inconvenience and for verification at any point of time.
Step (iv): Change Transit Vehicle:-
•Change transit vehicle comes into role, in case of accident, or vehicle gets out of service after it has entered UP. In these circumstances, user needs to change the vehicle and, consequently, need to change the information of vehicle in application.
•User can change vehicle only, if new vehicle is also registered, and do not hold any pending TDFs
•If vehicle is registered and do not have any pending TDFs, user can change with it, by providing relevant information, like reason of change, date of change etc.
Step (v): Add Transporter:-
•Next is the Add Transporter module.
•Add transporter module enables user to add a new transporter under him.
•User can add relevant transporter details, to add a transporter under him, on same vehicle number.
Step (vi):- Change Password
•Once log in, user can reset his password from default one, to the one of his choice, by following password policy.
•User should keep in mind that changing the Password, does not alter Registration Number(which, initially acted as Password).
•The Registration Number remains same at all cost
Step (vii): TDF2 Form
•TDF2 can be categorized as TDF Utilization Form.
•TDF2 is used by user, while leaving UP.
•User, again need to verify the information, that he served, while entering UP, in terms of weighing bridge information.
•In simple language, at time of exit, user needs to utilize the TDF1, that he generated at time of entering UP.
Step (viii): Change Owner
•Change owner module comes into role when user sells the registered vehicle.
•When user sells the vehicle, he needs to provide the new owner with the unique Registration number that has been provided to him at time of registration.
•Now, when the new owner can change the owner information of vehicle, by providing the vehicle number and the registration number.
•Once he provides correct registration number and vehicle number, he can easily modify the owner information and transporter information.
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Assessee should not be Taxed for the Income that it has not Earned: Kerala HC [Read Judgment]

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 IPT Claim cannot be Disallowed on Ground of Non-Payment of Tax by the Selling Dealer: Madras HC [Read Order]

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National Anti-Profiteering Authority will be constituted within 3 Weeks, says CBEC Chief

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# GST: CBEC issues a Cir.No.5/5/2017-GST, Dt.11.08.2017 clarifying issues related to furnishing of Bond / Letter of Undertaking for Exports. Link at: http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-5-gst.pdf
# ST: 15 AUG 2017 is the last date for filing of last ST return in Form ST3 & ST3C for the period from 1 APR 17 to 30 JUN 17– Noti.No.18/2017-ST, Dt.22.06.2017.
# AADHAR: CBDT has not fixed any time-frame to complete the linking of Aadhaar with PAN - FM - Shri Arun Jaitley.
# IT Deptt. is "aggressively" pursuing names that emerged in the Panama Papers and has dispatched a top-level officer to the British Virgin Islands to access information.
# ICAI has started Empanelment of Members to act as Observers at the Examination Centres for the CA Exams in NOV / DEC 2017. Link at http://resource.cdn.icai.org/46209exam36340.pdf
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Supplying Audio of the Back Ground Sound to a Film already shot amounts to “Manufacture”: J&K HC allows IT Deduction [Read Judgment]

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Finance Minister informed the Lok Sabha that the government has not fixed any time-frame to complete the linking of Aadhaar with PAN.
To file GSTR-3B, punch data in assessee login at www.gst.gov.in. Press Save GSTR3B. Click Submit when data is final as NO change after submission.
GSTR - 3B has to be filed by 20th Aug 2017 for the month of July transaction with GST. Following are the key points :. 1)Every tax payers under GST except registered under composition has to file this return.. 2) Data entered in GSTR - 3B will be reconciled with the GSTR - 2 and GSTR - 2 to e filed subsequently  3)  Taxpayers have to discharge the liability of GST only by payment and existing ITC cannot be utilized, stress on cash flows  4). While entering data in GSTR - 3B, complete the returns of GSTR - 1, so that there will be minimal reconciliation issues.  5) No offline utility, return has to be filed online only.
Govt hiked the import duty on crude palm oil to 15 per cent from 7.5 per cent and on refined to 25 per cent from 15 per cent to curb cheaper shipments and boost local prices for supporting domestic farmers and refiners.
The Last Date of filing of online MEF for the year 2017-18 has been EXTENDED from 15 AUG 2017 to 25 AUG 2017 and the last date of submission of duly signed hard copy of declaration has been extended from 22 AUG 2017 to 30 AUG 2017.
ICAI - Empanelment of Members to act as Observers at The Examination Centres for The Chartered Accountants Examinations November / December 2017 - (10-08-2017) http://resource.cdn.icai.org/46209exam36340.pdf

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✳Direct Tax:
▶Gujarat HC larger bench rules that provision for bad and doubtful debts (‘PBDD’) when charged to P&L account and at the same time, obliterated from account by reducing "the corresponding amount from the loans and advances on the asset side of the balance sheet" amounts to write-off and therefore not hit by clause (i) of the explanation to Sec. 115JB(2)  [TS-330-HC-2017(GUJ)]
✳Indirect Tax: 
▶CBEC made Clarification on issues related to furnishing of Bond/Letter of Undertaking for Exports. Vide notification no 349/82/2017-GST, dated 11th August 2017.
▶CBEC made amendment in Custom Act, 1962 by way of no. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017. Vide notification no 71/2017-Customs, dated 11th August 2017.
✳Key  Dates:
▶Filing of Service Tax Return for the period of 01.04.2017 to 30.06.2017:15.08.2017

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An Excel based Software *GST Invoice Printing Utility* which provides a very simple platform to generate day to day GST Invoices.
*[v 1.2] What's New :*
- Automatically writes Total Invoice Amount in words.
- Added "Supplier Details" Column on Main Window.
- Various Improvements.
*Features of the Software / Utility:*
- It works on Ms Excel only. No need to install any extra software.
- The Utility generates the Invoices in .pdf format.
- A very small “SaveAsPDF.exe” plugin is required.
- Very Simple and Clean User Interface.
- Generates 3 types of Invoices :
   Local Invoice (within state),
   National Invoice (outside state), and
   Bill of Supply.
-  Minimal Price for Personalised Utility.

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