FORM GSTR-4 for the Financial Year 2021-22 Late Fee waived

―Provided also that the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 

2021-22 under section 47 of the said Act shall stand waived for the period from the 1st day of May, 2022 till 

the 30th day of June, 2022

Maharashtra and Uttar Pradesh top in GST registrations

Maharashtra and Uttar Pradesh have topped in Goods and Services Tax (GST) registrations by businesses and dealers followed by Gujarat and Tamil Nadu, reflecting that economic prowess of these states.

Official data from the government on aggregate GST registrations in the 2017-22 period showed that Maharashtra has 1.48 million normal GST payers who pay taxes on a monthly basis, while Uttar Pradesh has 1.33 million such tax payers. However, if smaller traders who pay taxes on a quarterly basis are included, Uttar Pradesh has 1.69 million GST registrations, while Maharashtra has 1.6 million registrations, showed official data which was previously not available. The figures do not include service distributors and casual tax payers which are smaller in number. 

Gujarat has 1.09 million normal and composition tax payers, while Tamil Nadu has 1.06 million GST registrations. Businesses having operations in different states are required to take registrations in each of the states where they operate. Karnataka has over 953,000 GST registrations, while Rajasthan has over 795,000 GST registrations. Nagaland, Mizoram, Sikkim, Lakshadweep and Andaman and Nicobar Islands have fewer than 10,000 GST registrations. 

GST registrations also indicate the nature of the economic activity. Uttar Pradesh has the largest share of small businesses with the state accounting for over 357,000 composition dealers those with sales upto ₹1.5 crores who have signed up for the quarterly tax payment facility. Maharashtra has over 122,000 composition dealers, while Rajasthan has over 137,000 composition dealers.

Source from: https://www.livemint.com/news/india/maharashtra-up-top-in-gst-registrations-11652625287515.html

We have recently released the 7^th Edition (May, 2022) of our book on Goods and Services Tax, titled, "GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES", updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.

 

PAN Shall be mandatory for

PAN Shall be mandatory for

1:Cash deposit - ₹20 lakh or more in FY in bank or post office

2:Cash withdrawal - ₹20 lakh or more in FY in bank or post office

3:Opening current or cash credit a/c

Bank or post office shall ensure that said PAN has been duly quoted & authenticated