1) REG_011 : Application for Amendment of Registration - Core Fields, deployed in portal 2) REG_012 : Processing of Amendment  Application, deployed in portal for tax officials 3) REG_19 : Suomoto Registration along with payment option, deployed in portal 4) GSTR 3B issue If the user enters multiple decimal values in Section 3.2 and section 3.1a IGST is equal to section 3.2, save GSTR3B is showing business validation error. In browser java script when the decimal values are getting summed up, more than 2 digits are getting added which is causing this validation issue, so same has been rounded off to 2 digits. Bug fixed and Change completed successfully 5) EVC Filing Issue in Transition form 1 Change completed successfully 6) Transfer of Charge –BO System Error thrown while trying to transfer the charge. Fix is done in order to avoid this issue.

Taxpayers who have not set off their tax liability for GSTR 3B for July 2017 and have only done ‘Submit’ of their GSTR 3B, have now been given option to edit, submit and file their Returns. Some of relevant provisions of 3 B Can filling of GSTR-3B be avoided by filing GSTR-1, 2 & 3? You cant avoid Form 3B as the filling of GSTR-3B is mandatory as per CGST rule 61(5). Your attention is invited to  rule 61(5)  &  rule 61(6)  vide 61(5) Where the time limit for furnishing of details in FORM GSTR-1 under section 37 and in FORM GSTR-2 under section 38 has been extended and the circumstances so warrant, the Commissioner may, by notification, [specify the manner and conditions subject to which the]10 return shall befurnished in FORM GSTR-3B electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner. 61(6) Where a return in FORM GSTR-3B has been furnished, after the due date for furnishing of details in FORM GSTR-2— (

Exporters stuck refund of Rs 65000 crore for July to October 2017 causes huge headache for govt. 1. Rs 2,00,000 crore are likely refunds on export of goods per year now 2. This refund being real time refund at 18% ( in some items 12 and 28 also) is minimum 3 times of earlier refunds paid through Duty Drawback which on average used to be 3 to 5 % of total value of exports. 3. Govt didnot anticipated this heavy real time refunds which is 3 times of annual Duty Draw back. 4. Now 65000 crores are stuck for just 4 months with govt and cant be released before filing of GSTR 3, so refunds will start flowing from November end only. 4. All working capital flows dried up for exporters leading to stoppage of orders by exporyers....now order book lower fr coming months 5. Its emergency situation as export orders due to it are down by 15-20% for peak demand export period of Christmas sales. 6. These lower export figures will start reflecting from Nov- Dec thus would effect more then 1 crore

The Ministry of Finance on Wednesday clarified that for the purposes of Goods and Services Tax (GST) applicability, an item will be deemed to be ‘branded’ if it carries a brand name or trade name that is registered under the Trade Marks Act, 1999. The Ministry was trying to allay the confusion around the definition of a branded product, since several unbranded food items are exempt from GST while their branded variants fall in the 5% tax bracket. “Doubts are being raised as to the meaning of registered brand name,” an official statement said. “In this context, the notification… clearly defines ‘registered brand name’ as brand name or trade name, which is registered under the Trade Marks Act, 1999. In this regard, Section 2 (w) read with section 2 (t) of the Trade Marks Act, 1999 provide that a registered trade mark means a trade mark which is actually on the Register of Trade Marks and remaining in force.” “Thus, unless the brand name or trade name is actually on the Register of Tra

Please note following changes in your Income Tax Profile from today . You may be required to update your Mobile Number and Email Address in your Income Tax Profile upon Login: 1. Now you need to provide your own email address + your own mobile number. 2. One Mobile Number & One Email Address can be used or attached with Maximum 3 Tax Profiles as against the earlier limit of 10 Tax Profiles;  3. The Taxpayer is also required to declare whose email & mobile number he/she is providing e.g. Mobile Number & Email Address of his/her - Self/ Spouse/ Parent/Sibling/ Chartered Accountant; 4. The Taxpayer can also link his/her Bank Account Number in his Tax Profile permanently for the records of the Tax Department and/or for all Tax Refund disposals etc.

The steps which need to be followed by the user taxpayer for changing of email and mobile number: – Step-1: Login to GST portal (http://www.gst.gov.in/) with your user id and password. Step-2: Click on the registration bar and select the non-core amendment. Step-3: Click on the authorized signatory tab. Step-4: Add new authorized signatory whose email and mobile number user wants to use. Step-5: Go to verification tab and submit the application. Step-6: After submission of application please wait for some time ( 15 minutes). Step-7: Login again with user id and password. Step-8: Go to the authorized signatory tab – deselect the primary authorized signatory check box. Step-9: Select the newly added authorized signatory as primary authorized signatory (Important: Older mobile and email id will be prefetched by the system. Please ensure to change the mobile and email id to which you want to add.) Step-10: Go to the verification tab and submit, [Note: For C

In case of newly registered GST dealers, many complaints were received that these dealers were not receiving mail containing First Time login and Password . So, these dealers were not able to make payment or file GSTR-3B or GSTR-1. GSTN has resolved this issue by providing a link to "Resend this Welcome mail". The steps to use this link are - 1. Go to Services - Registration - New Registration - Login with TRN. 2. This will prompt a  message "Please click here to resend the Email and SMS". 3. On Click of link, email with GSTIN and password will be retriggered on the Registered email id.

Guidelines For Changing Email And Mobile Number Of Primary Authorized Signatories Mentioned At The Time Of Enrolment Or New Registration The steps which need to be followed by the user taxpayer for changing of email and mobile number: – Step-1: Login to GST portal  with your user id and password. Step-2: Click on the registration bar and select the non-core amendment. Step-3: Click on the authorized signatory tab. Step-4: Add new authorized signatory whose email and mobile number user wants to use. Step-5: Go to verification tab and submit the application. Step-6: After submission of application please wait for some time ( 15 minutes). Step-7: Login again with user id and password. Step-8: Go to the authorized signatory tab – deselect the primary authorized signatory check box. Step-9: Select the newly added authorized signatory as primary authorized signatory (Important: Older mobile and email id will be prefetched by the system. Please ensure to change the mobile and ema

When the Government was targeting 3 Crore GST payers; GSTN settled for a Rented server based in Whitefield Bangalore having capacity of only 80000 access at one time whereas the requirement was to have a Server having capacity of 5 Lakh access at one time. The Jumbo Server similar to one being used by National Stock Exchange was required to be imported by GSTN. But Consultants to GSTN and even GSTN Team could not understand the basic requirement of Hardware and Software for running Network for uploading and matching data of a magnitude required for implementation of GST. It was mismanagement by all stakeholders. Instead of GSTN opening Return Filing Facilitation Centres in all cities; the Officials were busy with TV Channels and Webinars. Even GSTN Head Office at Aero City in Delhi did not have a Service centre for Tax payers where they could go for resolution of their issues and get them resolved on the spot. Even FinMin and GST Commissioners failed to assess that need of hour was to

A person is able to lie by using his imagination. In the Narco Analysis Test, the subject's imagination is neutralised by making him semi-conscious. In this state, it becomes difficult for him to lie and his answers would be restricted to facts he is already aware of. Experts inject the subject with Sodium Pentothal or Sodium Amytal. The dose is dependent on the person's sex, age, health and physical condition. A wrong dose can result in a person going into a coma, or even death.

Legal Provision - Section 182 of Companies Act, 2013. Key Points:- 1. The Company can give Political Contribution in an aggregate in such Financial Year upto 7.5% of average net profit during 3 immediately preceding Financial Years. 2.Contribution should be given to Any Political Party. 3. The Government Companies and The Company which is incorporated within less than 3 Financial Years are not allowed to Contribute an amount to any political party whether Directly or Indirectly. 4. Board Resolution is mandatory for Contribution to any political party. 5. Disclosure should be made in the P& L account of the Company. 6. If there is any Contravention under this Section then Company is liable for fine up to 5 times of Contribution of Amount. And the officer in default is liable for imprisonment up to 6 months and with fine also which may extend to 5 times of the contribution of amount.

Legal Provision:- Section 195 of Companies Act, 2013. SEBI (Prohibition of Insider Trading) Regulations, 2015. Key Points:- 1. Insider Trading means "Unpublished Price Sensitive Information". 2. It's absolutely illegal. 3. Insider Trading affects the the Price of Securities of the Company. 4. It is not apply in ordinary course of business or profession or employment. 5. It includes activities like buying, selling, dealing of Securities by Director or KMP or any other officer of the Company on the basis of Unpublished Price Sensitive Information. 6. Penalty as per Section 195(2) of Companies Act, 2013 :- The person is punishable for imprisonment of a term which may extend to 5 years or with fine which shall not be less than ₹ 5 lakh but which may extend to ₹25 crore or 3 times of amount of profit made from Insider Trading, whichever is higher or both. 7. Insider Trading also includes an act of Counselling about Price Prediction whether directly or Indir

Taxmen to snoop social networking sites to trace black money. A photo of your shiny new luxury car on Instagram or a costly watch on Facebook may lead the taxman to your door as the tax department from next month will begin amassing virtual information to trace black money. Other Updates - Govt to assess input tax credit claims of Rs 60,000 crore in GST. The government is in the process of checking the veracity of the around Rs 60,000 crore of claims made by entities for stocks before the implementation of the goods and services tax (GST). Of the Rs 95,000 crore of revenue collected in July. - TDS, TCS deductors can apply for GST registration from 18 September. GST registrations for entities mandated to collect and deduct tax at source will start from 18 September. However, the date from which tax deducted at source (TDS) or tax collected at source (TCS) is to be done will be notified later.

GSTR1 Filling date extended to 10th October as per Finance Minister in Press Conference held today !! GSTR 1.  10 OCT GSTR 2   31 OCT GSTR 3.  10 NOV

Two RUMOURS are in circulation since today evening: 1. Extension of GSTRs filing dates; and 2. Resignation of Dr Hasmukh Adhia, Revenue Secretary. As of now, there is NO EXTENSION OF GSTRs filing DATES. WHEREAS Dr. Hasmukh Adhia, Revenue Secretary has tweeted TODAY evening : "Dr Ajay Bhushan Pande will hold charge of chairman GSTN in place of Navin Kumar who retired recently. He is DG UIDAI (Aadhar). He brings with him his vast experience of implementing complex IT projects. I welcome him to the Team GST of Revenue deptt."

The government is considering to re-open the composition scheme window that allows small taxpayers to pay levies at a lower rate by foregoing the benefit of input tax credit under the Goods and Services Tax, a senior government official told BloombergQuint. The proposal is likely to be tabled in GST Council’s next meeting on September 9, the official said requesting anonymity. According to the scheme, traders, manufacturers and restaurant owners with annual turnover up to Rs 75 lakh in the preceding financial year, can pay tax at 1 percent, 2 percent and 5 percent, respectively. Those availing the scheme will not get the benefit of input tax credit. The last date to avail the scheme was August 16, and to open the scheme again for taxpayers will need an amendment to the composition rules. The government is planning to make the scheme available again for those small taxpayers who have registered but not availed the scheme, the official cited above said. There are many taxpayers who are

Exporters have petitioned the government for an outright exemption on payment of goods and services tax, saying that the time it takes to get reimbursements under the current mechanism was causing a working capital crunch. According to industry claims, about Rs 1.85 lakh crore of working capital will get stuck annually due to the implementation GST. Several exporters said they are already facing a capital shortage and have begun to turn away orders. Prior to the implementation of GST on July 1, exporters were exempted from paying duties. Now, they have to pay the tax first and then seek a refund, a process that ties up a portion of their working capital and pushes up manufacturing costs as they have to pay duties on inputs. This has particularly hit small exporters, who work on meagre resources and for whom getting bank financing is tough. Moradabad-based brass handicraft manufacturer and exporter Paragon Metals has Rs 6 lakh of drawback blocked with the government. Proprietor Ajay

Assessees are still facing problems in filing the goods and services tax (GST) returns even as the government has extended the deadline. They have also sought an applicability of the summary form for six months instead of only for the first two months, besides an extension for filing of returns for outward supplies as firms are busy during the first 10 days of the month with tasks such as paying tax deducted at source of employees, paying salaries and reimbursements, among others. On Monday, the government had extended the date for filing of returns for outward supplies — GSTR-1 — by five days to September 10. “As this is the first time, taxpayers are struggling with various heads of GSTR-1. They are confused about how to report GSTR-1 and often end up reporting same invoice under separate sections,” said Archit Gupta, CEO of ClearTax. He said there were cases of entering wrong GSTIN (GST identification number) of customers, which attract a reverse charge (where the GST is to be paid

The government has readied a draft proposal to increase the quantum of the three key "social pensions" but all eyes are on the state of revenues post-GST, with the revamp now hinging on whether the Centre will have resources to fund the revision. According to estimates, restructuring the 'National Social Assistance Programme (NSAP)' — old-age pension, widow pension and disability pension — will incur an additional expenditure of Rs 10,000-12,000 crore over the present annual budget of Rs 9,500 crore. While the rural development ministry has worked out the proposal, it is learnt that it will be put to the Expenditure Finance Committee only when the picture becomes clear on the availability of funds. "GST will be the main factor in deciding the fate of the proposal. If the funds are available, we are ready," a source said. According to observers, revenue collections in the first quarter far exceeded the Centre's expectations, raising hope that funds ma

As most of our readers are already aware, the GST council has finalised the GST rates across different goods & service categories. The tax range is divided into the different slabs i.e. 0%, 5%, 12%, 18% & 28%. Let's see how your life changes with the introduction of GST and how much more or less you need to shell out from your pocket. Footwear: Be ready to shell out more for footwear which costs more than Rs 500 as the GST rate is kept at 18% as compared to the earlier 14.41%. However, the rate for footwear costing below Rs 500 is reduced to 5%. Garments: Buying your next shirt or trouser will cost you a little less as the GST rate for ready-made garments is reduced to 12% from the existing 18.16%. Cab & taxi rides: Even booking your cab is slightly cheaper now as the tax rate is reduced to 5% from 6% for any taxi booked online like on Ola, Uber or Meru. Airline ticket: There is no change for an economy flight ticket price but GST for a business class ticket will a

GSTR-1: Tomorrow (05 SEP 2017) is the last date of filing of GSTR-1 for filing the details of OUTWARD Supplies, Pls. ensure filing today to avoid last minutes technical glitches. GST: E-way Bill in Form GST EWB-01 to be generated for Consignment Value Exceeding Rs.50,000/-. GST: A consolidated e-way bill in FORM GST EWB-02 for multiple consignments in one conveyance to be generated by the Transporter containing the serial number of all the individual Consignments. GST: A Unique e-way bill number (EBN) shall be made available to the supplier, recipient and the transporter on the common portal upon generation of the e-way bill on the common portal. GST: If Goods are not transported after generation of E-way Bill, need to be cancelled with 24hrs of its generation on common portal.

July GSTR-1- 10th September GSTR-2- 25th September GSTR-3- 30th September August GSTR-1- 5th October GSTR-2- 10th October GSTR-3- 15th October

A webinar has been scheduled on 6th September 2017 at 02:30 PM IST on the topic “Preparation and Filing of GSTR 2”, in English Language . Webinar Coverage: Salient Features of GSTR-2 Relevant provisions Downloading GSTR 2A Options to act on the auto populated information in GSTR 2A Filing GSTR 2 Electronic Credit Ledger Q&A Click here for the webinar (in English) registration link for the webinar: https://zoom.us/webinar/register/bb947dd6980f867e8c34be5db4a05ad8 Speaker for the webinar:Mr. Rajeev Agarwal, Senior Vice President, GSTN Thanks Team GSTN

The Subject of circular is  "System based reconciliation of information furnished in FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B - regarding " As Per point number 12 of the circular "Where the registered person has not submitted the return in FORM GSTR-3B, he is required to furnish the details in FORM GSTR-1 and FORM GSTR-2 and sign and submit the return in FORM GSTR-3 along with the payment of the due taxes as per the provisions of section 49 of the Act." Means No need to file GSTR-3B ,if you have filed GSTR-1,GSTR-2,GSTR-3. Further late fees of non filing of GSTR-3B is already waived. But due to non filing of GSTR-3B , you have to pay Interest for Non payment/adjustment tax due.So if you have tax due for the month of July and deposited the Tax due and data for GSTR-3B is ready with you then you should adjust you tax liability by filing GSTR-3B immediately as return GSTR-1, GSTR-2 & GSTR-3B can not be filed before 06.09.2017. However if  your credits(I

The Goods and Services Tax (GST) tax was introduced on 1st of July, 2017.  The last date for payment of GST for the month of July 2017 was 25th August, 2017.  The last date for filing returns in cases, where the taxpayer wanted to avail transitional credit was 28th August, 2017 and, in all other cases, it was 25th August, 2017. If we exclude the taxpayers who have registered with the GSTN in August 2017 and the composition dealers, total number of tax payers who were required to file the returns for July 2017 is 59.57 lakhs, of which, as on 29th August, 2017 (10 a.m.), 38.38 lakh returns have been filed, which is 64.42% of the total number of returns, which are to be filed for the month of July 2017. The total revenue of GST paid under different heads upto 29th August, 2017 (10 a.m) is Rs.92,283 crore.  The total CGST revenue is Rs.14,894 crore, SGST revenue is Rs.22,722 crore, IGST revenue is Rs.47,469 crore (of which IGST from imports is Rs.20,964 crore) and Cess is Rs.7,198 cr

As per section 2(78) “non-taxable supply” means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act. A transaction must be a ‘supply’ as defined under the GST law, to qualify as a non-taxable supply under the GST law. The following aspects need to be noted: Stock transfers to unit within the State for which no separate registration is obtained, which does not qualify as a ‘supply’ as defined under Section 7 of the CGST Act, cannot be said to be a non-taxable supply. Transactions specified in Schedule III which are treated as neither a supply of goods nor a supply of services, would also not qualify as non-taxable supplies.  Supplies that enjoy the benefit of being wholly exempted from taxes, nil-rated supplies and zero-rated supplies are also not covered under the umbrella of ‘non-taxable supplies’ given that the goods or services are in fact liable to tax, and such tax is exempted by virtue of an exe

Q.  - - Can liability of reverse charge be setoff by last month carried forward credit? A.  - - No , Reverse Charge can be set off by Only Cash.

ACC Ltd asked to redeposit Rs 16.7 crore as GST, citing a difference in a rupee The newly-introduced Goods and Services Tax (GST) is creating operational and procedural issues for companies, the most recent to fall prey to the new tax regime being cement major ACC Ltd. ACC had paid Rs.16.70 crore to the GST Network (GSTN). Despite the amount being deducted, ACC was asked to redeposit the same amount, citing a difference of Rs. 1. The issue was then brought in front of MoS Finance Arjun Ram Meghwal, who accepted the same and highlighted the presence of operational and procedural flaws in the GSTN. “I have taken up the matter with the GSTN. We have directed GSTN officials to get it rectified as this will be injustice for companies like ACC if such a massive amount of money is blocked for three months,? Meghwal told reporters along the sidelines of the Annual Convention on Capital Market-Vision 2020 programme organised by the PHD Chamber. Meghwal assured that no penalty would be imp

The Central Board of Direct Tax has clarified that if GST amount is mentioned separately in contract or invoices tax shall be deducted at source on service amount excluding GST. Illustration : Company A Pay office rent to Company B. Company B raise a invoice to Company A. Rent = 1,00,000/- GST @18% = 18,000/- Invoice amount= 1,18,000/- Now Company A shall deduct tax on amount of Rs 1,00,000/-. As GST amount is separately mentioned on invoice, TDS not applicable on GST Component.  Refer : CIRCULAR No. 23 /2017

In order to give the state’s weavers and artisans some relief, Odisha Chief Minister Naveen Patnaik on Friday requested Prime Minister Narendra Modi to exempt handloom and handicraft products from the Goods and Services Tax (GST). In a letter to the Prime Minister, Patnaik urged that this issue needs urgent reconsideration in the GST Council for extending GST exemption on these products in the interest of the weavers and artisans. Informing that Odisha is well known for the production of handloom and handicraft products, the Chief Minister said a large number of weaver and artisan families, exceeding 3.5 lakh, earn their livelihood from this diverse production base, which is next only to agriculture. "Odisha's handloom and handicrafts form an important part of our cultural heritage. These products are mostly used by the common people. Therefore, prior to introduction of GST, the state government had always exempted these products from Value Added Tax (VAT). In most of thes

Basics of GSTR -1 GSTR 1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services. • Every registered taxable person, is required to file GSTR 1, the details of outward supplies of goods and/or services during a tax period, electronically on the GST Portal. • GSTR 1 needs to be filed even if there is no business activity (Nil Return) in the tax period. • GSTR 1 can be prepared using the following modes through:  Online entry on the GST Portal  Uploading of invoice and other GSTR 1 data using Returns Offline Tool  Using third party application of Application Software Provider (ASPs) through GST Suvidha Providers (GSPs) Information to be given in GSTR 1 Invoice level details of supplies to registered persons including those having UIN  Invoice level details of Inter- state supplies of invoice value greater than

Undisclosed income worth Rs. 29,213 crore detected and admitted. Black money worth Rs 16,000 crore did not return post demonetisation 21 per cent reduction in currency in circulation, will lead to reduction in printing cost. 56 lakh new tax payers added. Number of returns filed increase 24.7 per cent compared to 9.9 per cent in previous year. Advance tax collections of personal income tax grow at 41.79 per cent over same period of last year Personal income tax under self-assessment tax grow at 34.25 per cent over same period last year. Transactions of more than three lakh suspected shell companies under the radar 2.1 lakh shell companies de-registered Around 450 companies delisted and 800 untraceable companies to be further delisted. More than 400 benami transactions identified and market value of properties attached more that Rs 800 crore. Deposits in the banking system increased around Rs 3 lakh crore. Additional liquidity helped reduce interest rates by 100 basis points

GSTR 3B is a simplified summary return for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner. Creation and saving of Return form GSTR-3B was made available on GST Portal from 5th August 2017. Thus taxpayers got very less time to meet the deadline of 20th August 2017 (extended to 25th August 2017 due to technical issues faced by GSTN Portal). This being the first month of filing returns under GST regime, there were many errors due to lack of technical as well procedural clarity. However GSTR 3 B was not allowed be edited or modified once submitted. This has raised various concerns amongst taxpayers  as well as GST practitioners. But there is no need to worry, you can rectify the error/omission in following way.  (1) A normal taxpayer is required to file GSTR 1, 2, & 3 returns for every month. (2) GSTR-3B once filed cannot be revised. Adjustments, if any, has to be done subsequently when you file GSTR-

1. Hotels can charge CGST+SGST only, they cannot charge IGST. 2. If any Bills related to july month has not been taken in GSTR-3B than the same can be taken in Next Month Return 3. Person who has taken Composition Scheme want to go to Normal Scheme can do so by filling CMP(04) 4. GST charged by Banks on bank charges can be claimed as ITC on the basis of statement itself. No separate Invoice is required. 5. Import of services is under RCM and to be shown in table 3 in GSTR-3B, Import of Goods is not under RCM and IGST is required to be Paid after filing BOE and this to be shown in table 4 in GSTR-3B 6. Royalty Paid to Author of books is covered under RCM and therefore Publisher required to pay GST under RCM on payment of Royalty 7. If a person have both Domestic and Export sale than the Whole ITC can be adjusted for payment of Liability on Domestic Sales because export is zero rated Supply 8. Free samples given are not subject to GST but ITC on Input used has to be reversed 9. T

1. Consignment Value Exceeds Rs 50000- Eway Bill to be generated in Form GST EWB-01 2. Procedure- Supplier will Will Part-A of Form GST EWB-01 and than Transporter will fill Part-B of Form GST EWB-01 before movement of Goods. 3. Distance < 10 Km- where the goods are transported for a distance of less than ten kilometres within the State or Union territory from the place of business of the transporter finally to the place of business of the consignee, the details of conveyance may not be updated in Part-B of the e-way bill. 4. Unique e-way bill number (EBN)- Upon generation of the e-way bill on the common portal, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal. 5. Transporter transferring goods from one conveyance to another - in the course of transit shall, before such transfer and further movement of goods, update details of conveyance in the e-way bill on the common portal in FORM GST EWB-01.