GOODS AND SERVICE TAX RETURN

Objectives : Single e-Way Bill for movement of the goods throughout the country.  To prevent the evasion of tax.  Hassle free movement of goods across India.  Tracking the movement of goods with e-Way Bill number.  Easier verification of the e-Way Bill by officers. e-Way Bill in GST Rule: Information to be furnished by every registered person prior to commencement of the movement of goods and generation of e-Way Bill. 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.  The person in charge of a conveyance shall carry — (a) the invoice or bill of supply or delivery challan, as the case may be; and (b) a copy of the e-Way Bill or the e-Way Bill number.  The details of e-Way Bill generated shall be made available to the recipient, if registered, on the common portal, who shall communicate his acceptance...

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Dear Reader From year 2012-2013, after a continuously reduction of PPF interest rate, government given relaxation to the common people of India who deposit their funds through PPF. The Ministry of Finance, Government of India announces the rate of interest for PPF account which is increased from 7.6% to 8.0% (compounded annually) effective from 1 October 2018. If a person think to invest as a future saving which is complete safe with a good return, it’s a right time to start. Currently Initial deposit amount in PPF A/c in a year is Rs 500/- & maximum of Rs.150000/- with Tax benefit U/s 80C. You can open it in Post office or different scheduled bank authorized for such deposition Like ICICI / PNB etc. But remember one person can open only one account anywhere. I Hope this blog is very helpful for all the readers. For any query or discussion, pls. write in comment box.

- Single Person Required - GST Registration compulsory if Turnover exceed 20 Lac - Below the said turnover limit a Proprietor can take voluntary registration.   For GST Registration Document Required: - ID and Address Proof as Pan Card/Passport/Voter ID/Aadhar Card/Driving License Copy of the      Proprietor. - One Business Place Address proof i.e. (if Property on Rented: - Need   Rent Agreement And NOC from Landlord, if Property is own: -   Electricity Bills or any other Address Proof.)   Note: Proprietor Business place and home place can be same - Bank Account Statement

Press Release 17.09.2018 Dear All On Pan India basis, The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to   conduct   an   examination for confirmation of enrollment of   Goods and Services   Tax Practitioners (GSTPs) in terms of the sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notification No. 24/2018-Central Tax dated 28.5.2018. The GSTPs, those meeting the eligibility criteria of having enrolled as sales tax practitioners or tax return preparer under the existing law for a period not less than five years, are required to pass the said examination before 31.12.2018 in terms of second proviso to rule 83(3). The examination for such GSTPs shall be conducted on 31.10.2018 at designated examination centres across India. It will be a Computer Based Exam. The registration for this exam can be done by the eligible GSTPs on a registration portal, link of which ( https://nacin...

During preparation of GSTR-3B, Kindly Check following section of CGST Act to consider correct input tax credit (itc) in your return & to avoid any itc reversal & interest liability @ 24% 17. (5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection  (1) of section 18, input tax credit shall not be available in respect of the following, namely:—   (a) motor vehicles and other conveyances except when they are used–– (i) for making the following taxable supplies, namely:— (A) further supply of such vehicles or conveyances ; or (B) transportation of passengers; or (C) imparting training on driving, flying, navigating such vehicles  or conveyances; (ii) for transportation of goods; (b) the following supply of goods or services or both— (i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery except where an inward supply of goods or services or both of a particular ...

Hi Friends This blog is specially for those small businessmen who are registered in GST but still not hire any CA or Advocate or other GST Consultant to file their return on time. By this Following are the Results : 1. Lack of Knowledge which return to be filed & it's due date 2. File GSTR-1 & Left GSTR-3B or Vice-Versa 3. File GSTR-1 in due date of GSTR-3B or Vice- Versa 4. Late filing of GST Return 5. Short or Excess ITC Claim 6. Wrong Tax Rates applied in Sales 7. GST amount deposited in wrong Heads of Taxes 8. No GST ITC Reconciliation with GSTR-2A & GSTR-3B 9. Not Know about liable to file Annual Return 10. Penalized by creating Interest and Late fee liability 11. In-appropriate Recording of GST transactions 11. Etc. Above Points Just show the few adverse effect which can create you trouble in doing easy business. So all my business friends, Please do not take it as simpler and hire at least a person who have GST knowledge better than you to f...

* Gst Site added a new facility - Now any one can download Gstr 2A in excel. * Start  Reconciliation of Gstr 2A with Gstr 3B to match your itc and to avoid interest liability.

Dear All Last date of GSTR 3B Aug 2018 is 20/09/2018. Kindly file your return at-least 2 days earlier from due date to avoid rush on GST Site. @Ashish Kr. Bansal  

Hi Everyone It's a great day for me because with the help of Google blogger now I connected with all the world and can share my views. Special Thanks to Bloggers @Ashish Kr. Bansal