Govt Extends Time limit for Filing of Return by Composition Dealer [Read Notification] #GST
Read more at: http://www.taxscan.in/govt-extends-time-limit-filing-return-composition-dealer/13456/
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Govt Extends Time limit for filing of #GST Returns for July by Input Service Distributors [Read Notification]
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Govt Extends Time limit for filing of #GST Returns for July by Input Service Distributors [Read Notification]
Read more at: http://www.taxscan.in/govt-extends-time-limit-filing-gst-returns-july-input-service-distributors/13460/
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SEBI
SEBI has amended the Securities and Exchange Board of India (International Financial Services Centres) Guidelines,2015 to amend the definition of “issuer” as given in Clause 2 (1) (i). As per the new definition, it shall now includes, any entity incorporated in India seeking to raise capital in foreign currency other than Indian rupee which has obtained requisite approval under Foreign Exchange Management Act, 1999 (FEMA) or exchange control regulations as may be applicable or an entity incorporated in a foreign jurisdiction, provided such entity is permitted to issue securities outside the country of its incorporation or establishment or place of business as per the laws and regulations of its country of incorporation, jurisdiction or its constitution or any supranational, multilateral or statutory organization / institution / agency provided such organization / institution/agency is permitted to issue securities as per its constitution.
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Suppliers using #E-Commerce Platform having Turnover below 20 lakhs exempted from obtaining #GST Registration: Govt [Read Notification]
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Suppliers using #E-Commerce Platform having Turnover below 20 lakhs exempted from obtaining #GST Registration: Govt [Read Notification]
Read more at: http://www.taxscan.in/suppliers-using-e-commerce-platform-turnover-20-lakhs-exempted-obtaining-gst-registration-govt/13464/
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#GST: Due Date for filing of ITC-04 Extended [Read Notification]
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#GST: Due Date for filing of ITC-04 Extended [Read Notification]
Read more at: http://www.taxscan.in/gst-due-date-filing-itc-04-extended/13465/
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*_MCA_*
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The *number of Companies struck off u/s 248(5)* has *increased to 224,733*
from the earlier reported figure of 209,032 vide Do of even number dated 08.09.2017.
The *number of Directors disqualified* u/s 164(2)(a) r/w 167(1)(a) of the Act
has *increased to 3,09,614*
*Certain cases* have been *filed challenging the action* of the Ministry to *justify the disqualified directors* and *interim stay have been granted in 75 no of cases* The Ministry is defending such proceeding on case to case basic.
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*GST Update - No tax on ADVANCE*
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*_MCA_*
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The *number of Companies struck off u/s 248(5)* has *increased to 224,733*
from the earlier reported figure of 209,032 vide Do of even number dated 08.09.2017.
The *number of Directors disqualified* u/s 164(2)(a) r/w 167(1)(a) of the Act
has *increased to 3,09,614*
*Certain cases* have been *filed challenging the action* of the Ministry to *justify the disqualified directors* and *interim stay have been granted in 75 no of cases* The Ministry is defending such proceeding on case to case basic.
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*GST Update - No tax on ADVANCE*
Central Government vide notification 66/2017-CT dt. 15.11.17 brings a welcome change which *exempts* all the supplier of GOODS *from payment of GST on advance payment received from their buyer.*
Earlier this exemption was brought w.e.f 13.10.17 only for supplier of GOODS having turnover less than 1.5 crore.
Earlier this exemption was brought w.e.f 13.10.17 only for supplier of GOODS having turnover less than 1.5 crore.
*Hence no need pay GST on advance recd. w.e.f 15.11.17.*
*Note:*
1. The above exemption is not available to Service Providers.
2. This exemption is not applicable to any advance recd. before 15.11.17.
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1. The above exemption is not available to Service Providers.
2. This exemption is not applicable to any advance recd. before 15.11.17.
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GST is not Payable on Advances Received for Supply of Goods [Read Notification]
Read more at: http://www.taxscan.in/gst-not-payable-advances-received-supply-goods-read-notification/13476/
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Due Date for filing GST TRAN-1 Again Extended [Read Order]
Read more at: http://www.taxscan.in/due-date-filing-gst-tran-1-extended-read-order/13481/
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CAs cannot mention them as GST Consultant: Providing Trainings, Seminars to Non-Existing Clients amount to Ethical Violation, says ICAI [Read FAQs]
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CAs cannot mention them as GST Consultant: Providing Trainings, Seminars to Non-Existing Clients amount to Ethical Violation, says ICAI [Read FAQs]
Read more at: http://www.taxscan.in/cas-cannot-mention-gst-consultant-providing-trainings-seminars-non-existing-clients-amount-ethical-violation-says-icai-read-faqs/13516/
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# *GST*: CBEC issues 12 Notifications (Nos.55/2017 to 6/2017, dt.15.11.2017) under GST Central Tax and 1 Notification under IGST to give effect of the recommendation made by the GST Council’s in its 23rd Meeting held on 9-10 Nov 2017 at Guwahati w.e.f. 15 NOV 2017:
• Twelfth amendment to CGST Rules, 2017 – 55/2017-CT, dt.15.11.2017.
• Mandate for furnishing of return in FORM GSTR-3B till March, 2018 - 56/2017-CT, dt.15.11.2017.
• Quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto ₹ 1.5 crore - New time schedule - 57/2017-CT, dt.15.11.2017.
• Due dates for the furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than ₹ 1.5 crores - New time schedule - 58/2017-CT, dt.15.11.2017.
• Return by a composition supplier - time limit for filing of FORM GSTR-4 for the quarter July to September, 2017 extended till 24-12-2017 - 59/2017-CT, dt.15.11.2017.
• Return by a non-resident taxable person - time limit for furnishing the return in FORM GSTR-5, for the months of July to October, 2017 extended till 11-12-2017 - 60/2017-CT, dt.15.11.2017.
• Online Information Database Access and Retrieval services (OIDAR) - time limit for furnishing the return in FORM GSTR-5A for the months of July to October, 2017 extended till 15-12-2017 - 61/2017-CT, dt.15.11.2017.
• Return by Input Service Distributor (ISD) - Time limit for furnishing the return in FORM GSTR-6 for the month of July, 2017 extended till 31-12-2017 - 62/2017-CT, dt.15.11.2017.
• Due date for submission of details in FORM GST-ITC-04 extended. Now it can be filed upto 31-12-2017 - goods dispatched to a job worker - 63/2017-CT, dt.15.11.2017.
• Maximum late fee payable for delayed filing of return in FORM GSTR-3B from October, 2017 onwards fixed as ₹ 25/- per day [in case of Nil return, it will ₹ 10/- per day] - 64/2017-CT, dt.15.11.2017.
• Suppliers of services through an e-commerce platform exempted from obtaining compulsory registration if aggregate turnover is not exceeding rupees 20 lacs [Rs. 10 lacs in case of spl category states] - 65/2017-CT, dt.15.11.2017.
• GST on receipt of advance - Now all assessee are allowed pay tax at time of supply of goods [This concession is not for service providers] - 66/2017-CT, dt.15.11.2017.
• Integrated Goods and Services Tax Amendment Rules, 2017 - Apportionment of IGST with respect to advertisement services under section 12 (14) of the IGST Act, 2017 - 12/2017-IT, 15.11.2017.
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: Govt Extends Due Dates for furnishing FORM #GSTR-1 by taxpayers with Aggregate Turnover of More than Rs.1.5 crores [Read Notification]
• Mandate for furnishing of return in FORM GSTR-3B till March, 2018 - 56/2017-CT, dt.15.11.2017.
• Quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto ₹ 1.5 crore - New time schedule - 57/2017-CT, dt.15.11.2017.
• Due dates for the furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than ₹ 1.5 crores - New time schedule - 58/2017-CT, dt.15.11.2017.
• Return by a composition supplier - time limit for filing of FORM GSTR-4 for the quarter July to September, 2017 extended till 24-12-2017 - 59/2017-CT, dt.15.11.2017.
• Return by a non-resident taxable person - time limit for furnishing the return in FORM GSTR-5, for the months of July to October, 2017 extended till 11-12-2017 - 60/2017-CT, dt.15.11.2017.
• Online Information Database Access and Retrieval services (OIDAR) - time limit for furnishing the return in FORM GSTR-5A for the months of July to October, 2017 extended till 15-12-2017 - 61/2017-CT, dt.15.11.2017.
• Return by Input Service Distributor (ISD) - Time limit for furnishing the return in FORM GSTR-6 for the month of July, 2017 extended till 31-12-2017 - 62/2017-CT, dt.15.11.2017.
• Due date for submission of details in FORM GST-ITC-04 extended. Now it can be filed upto 31-12-2017 - goods dispatched to a job worker - 63/2017-CT, dt.15.11.2017.
• Maximum late fee payable for delayed filing of return in FORM GSTR-3B from October, 2017 onwards fixed as ₹ 25/- per day [in case of Nil return, it will ₹ 10/- per day] - 64/2017-CT, dt.15.11.2017.
• Suppliers of services through an e-commerce platform exempted from obtaining compulsory registration if aggregate turnover is not exceeding rupees 20 lacs [Rs. 10 lacs in case of spl category states] - 65/2017-CT, dt.15.11.2017.
• GST on receipt of advance - Now all assessee are allowed pay tax at time of supply of goods [This concession is not for service providers] - 66/2017-CT, dt.15.11.2017.
• Integrated Goods and Services Tax Amendment Rules, 2017 - Apportionment of IGST with respect to advertisement services under section 12 (14) of the IGST Act, 2017 - 12/2017-IT, 15.11.2017.
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: Govt Extends Due Dates for furnishing FORM #GSTR-1 by taxpayers with Aggregate Turnover of More than Rs.1.5 crores [Read Notification]
Read more at: http://www.taxscan.in/govt-extends-due-dates-furnishing-form-gstr-1-taxpayers-aggregate-turnover-rs-1-5-crores/13452/
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Due Date for furnishing #GSTR-5 by Non-Resident Taxable Person Extended to 11th December [Read Notification]
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Due Date for furnishing #GSTR-5 by Non-Resident Taxable Person Extended to 11th December [Read Notification]
Read more at: http://www.taxscan.in/due-date-furnishing-gstr-5-non-resident-taxable-person-extended-11th-december/13447/
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The Income Tax Department will soon issue notices to those who have deposited “suspicious” amounts of money in banks post-demonetisation and have not responded to taxman's preliminary communication, CBDT.
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The Income Tax Department will soon issue notices to those who have deposited “suspicious” amounts of money in banks post-demonetisation and have not responded to taxman's preliminary communication, CBDT.
The I-T department will comb through the tax history of all people who have registered property valued above Rs 30 lakh to check if any tax evaders own such properties by proxy, CBDT chairman Sushil Chandra said.
Issue Invoice at revised GST rates from 15.11.17 as reduced rates applicable now. Notification 41/2017-Central Tax (Rate) of 14.11.2017.
Filing of GSTR-2 & GSTR-3 NOT waived. Only Date for their filing postponed. Reconciliation of Purchases will be continued for availing Input Tax Credit.
DVAT Notification No. 1066 dated 15.11.2017 has extended the date of online filing of Rate wise Closing Stock details as on 31.03.2017 and 30.06.2017 upto 15.12.2017.
RBI :The scheme of simplified hedging facility was first announced by the RBI in August 2016 and the draft scheme was released on April 12, 2017.
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Govt Extends Due Date for Filing GSTR-5A to 15th December [Read Notification]
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Govt Extends Due Date for Filing GSTR-5A to 15th December [Read Notification]
Read more at: http://www.taxscan.in/govt-extends-due-date-filing-gstr-5a-15th-december-read-notification/13439/
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Govt Reduces Amount of Late Fee Payable for delay in Filing #GSTR-3B from October [Read Notification]
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Govt Reduces Amount of Late Fee Payable for delay in Filing #GSTR-3B from October [Read Notification]
Read more at: http://www.taxscan.in/govt-reduces-amount-late-fee-payable-delay-filing-gstr-3b-october/13440/
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*DVAT* vide Notification No. 1066 dated 15/11/2017 has extended the date of online filing of Ratewise Closing Stock details as on 31/3/17 & 30/6/17 upto 15/12/2017.
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*DVAT* vide Notification No. 1066 dated 15/11/2017 has extended the date of online filing of Ratewise Closing Stock details as on 31/3/17 & 30/6/17 upto 15/12/2017.
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*Updates*
➡1. Now no need to pay GST on advance received for supply of goods; Govt. notifies
➡2. CBDT issues guidelines to tackle TDS mismatch and other issues
https://www.taxmann.com/topstories/222330000000013484/cbdt-issues-guidelines-to-tackle-tds-mismatch-and-other-issues.pdf
https://www.taxmann.com/topstories/222330000000013484/cbdt-issues-guidelines-to-tackle-tds-mismatch-and-other-issues.pdf
➡3. Govt. issues clarifications on applicability of GST on certain services
➡4. Threshold limit for registration also applicable to suppliers using e-commerce platform
Thank you
Have a nice day
Have a nice day
