N. No.15/2022 Central Tax RateFrom 01/01/2023No -GST is payable

N. No.15/2022 Central Tax Rate

From 01/01/2023

No GST is payable where the residential dwelling is rented to a registered person if it is rented it in his/her personal capacity for use as his/her own residence and on his own account and not on account of his business

Applicability of GST in renting a residential dwelling.

TDS on sale of property - Section 194IA

TDS on sale of property - Section 194IA

Regard-Ca Anurag Sharma

Detailed analysis of Deduction u/s 80D

Detailed analysis of Deduction u/s 80D

(Deduction in respect of Health Insurance Premium) 

Short Summary on GSTR 9 Tables

Short Summary on GSTR 9 Tables

If your Aggregate Annual Turnover is up to ₹5 Crore then #QRMP (Quarterly Return and Monthly Payment) Scheme

If your Aggregate Annual Turnover is up to ₹5 Crore then #QRMP (Quarterly Return and Monthly Payment) Scheme will save your Late fees in #GST

How it saved is explained here 👇👇👇 

Non QRMP

Monthly GSTR 1 on or before 11th of Next Month so from 12th Late Fee is Applicable 

QRMP

Option to file IFF for Month 1/Month 2 and Quarterly GSTR 1 on or before 13th so late fee is applicable for delay in Quarterly GSTR 1 only

Non QRMP

Monthly GSTR 3B on or before 20th of Next Month so from 21st Late Fee is Applicable

QRMP Tax

GST Payment if any for Month 1/Month 2 on or before 25th of Next month and Quarterly GSTR 3B on or before 22nd/24th so late fee is applicable for delay in Quarterly GSTR 3B only

Summary

Non QRMP

M1 GSTR 1 Late Fee

M1 GSTR 3B Late Fee

M2 GSTR 1 Late Fee

M2 GSTR 3B Late Fee

M3 GSTR 1 Late Fee

M3 GSTR 3B Late Fee

QRMP

M1 IFF Optional

M2 IFF Optional

M3 Quarterly GSTR 1 Late Fee

M3 Quarterly GSTR 3B Late Fee

Another advantage is: if assessee could not pay tax of M1 & M2, he can still file IFF for M1, M2 and GSTR1 for the quarter. But non QRMP will not be able to file GSTR1 from M2, if tax not paid & 3B not filed for M1

Timely & Proper Payment of Tax is Necessary for Growth of NationDue Date for Payment of 3rd Advance Tax is 15/12/2022

Timely & Proper Payment of Tax is Necessary for Growth of Nation

Due Date for Payment of 3rd Advance Tax is 15/12/2022

Advance Tax Calculator 

https://incometaxindia.gov.in/Pages/tools/advance-tax-calculator.aspx

Must Check 26AS as well as AIS/TIS for proper calculation of Advance Tax

Do Tax Planning but NOT Tax Evasion

Works Contract Service for Drainage and Sewerage Pipelines Construction Municipal Corporation is Non-Commercial Activity, No Service Tax: CESTAT

Works Contract Service for Drainage and Sewerage Pipelines Construction Municipal Corporation is Non-Commercial Activity, No Service Tax: CESTAT

The Ahmedabad Bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) has held that works contract service for drainage and sewerage pipelines construction Municipal Corporation is non-commercial activity, no Service tax attracts Shri Jigar Shah, Advocate, Shri Rahul Patel, CA appeared for the Appellant and Shri. Vinod Lukose, Superintendent (Authorized Representative)

TDS on Rent (Pic 1) TDS on Sale of Immovable Property (Pic 2)

TDS on Rent (Pic 1) 

TDS on Sale of Immovable Property (Pic 2)

10 Things to keep handy before you start GSTR 9

10 Things to keep handy before you start GSTR 9 

1. Annual GSTR 2A (even 8A zip) 

Source -Software

2. 21-22 ITC claimed in 22-23 if any

Source-Check in monthly 3B for 22-23. Spcly Apr 22/Sep 22 3B

3. 20-21 ITC claimed in 21-22 if any

Source -check in Last yr GSTR 9

Table 12,13

4. 21-22 sales side Problem solved in 22-23 if any

Source - Check monthly 3B/1 for 22-23. Spcly April 22

5. 20-21 sales side Problem solved in 21-22

Source - check Last year GSTR 9

Table 10, 11, 14

( u must knw reason why POINT 2 to 5 very IMPORTANT)

6. 21-22 GSTR 2A vs 3B Summary

Source -Software

Why? -as we follow 2B for monthly reco But Table 8 still need 2A reco

7. 22-23 GSTR 2A VS 3B summary

Source -software

Why?-For knowing if any ITC claimed next yr

Very useful insight

8. Annual 3B & System drafted 9

Source - portal

9. Annual GSTR 1 

Source - sofwatre

Mainly for HSN data for table 17 as it compulsory for FY 21-22 GSTR 9

10. All COMPARISONS REPORT

Source - Portal

Like every year,This year also, Staff prepared /downloaded/Printed these 10 things in Party wise Folder, Before Starting GSTR 9

This makes working for GSTR 9 so super Smooth, Super easy

Super fast as all data available in folder

Super useful as you don't waste time in collecting data here and there

It makes u help for CORRECT reporting in GSTR 9

Hope u spent time in this before actually starting GSTR 9

Regard-Ca harshil seth

NOTIFICATION No. 22/2022–Central TaxEffect given in GSTR 9 for 30th November 2022 (Last Date to Claim ITC for FY 21-22 and Last Date to Amend Invoice Pertaining to FY 21-22)

NOTIFICATION

 No. 22/2022–Central Tax

Effect given in GSTR 9 for 30th November 2022 (Last Date to Claim ITC for FY 21-22 and Last Date to Amend Invoice Pertaining to FY 21-22)

GST Rates under Composition Scheme

GST Rates under Composition Scheme

GSTR-9 and GSTR-9C for FY 21-22Due Date is 31/12/2022

GSTR-9 and GSTR-9C for FY 21-22

Due Date is 31/12/2022

GSTR-9 and GSTR-9C Mandatory V/s Optional Tables for FY 2021-22

Red marked Tables made Mandatory from FY 21-22

Accuracy Checks and Balance Formula for GSTR-9 (Must check before submitting GSTR-9)

Linkage between GSTR-09 and GSTR-9C (Figures to be taken from GSTR-09 while filling GSTR-9C to upload error free JSON file on first Go)

Credit To Ca Deep Koradia

E-Brochures from #cbic_india (updated as on November 2022)

E-Brochures from #cbic_india

(updated as on November 2022)

Kindly refer it 

(Total 23 Brochures in) 

1:Overview of GST

cbic.gov.in/htdocs-cbec/gs…

https://www.cbic.gov.in/htdocs-cbec/gst/12112022/Compendium%20GST%20Brochures_12%20November%202022.pdf

2:GST Benefits

cbic.gov.in/htdocs-cbec/gs…

3:Latest Updates in GST

cbic.gov.in/htdocs-cbec/gs…

4:Composition Levy Scheme

cbic.gov.in/htdocs-cbec/gs…

5:QRMP Scheme

cbic.gov.in/htdocs-cbec/gs…

6:Policy Initiatives for MSME Sector

cbic.gov.in/htdocs-cbec/gs…

7:Casual Taxable Person

cbic.gov.in/htdocs-cbec/gs…

8:Non-Resident Taxable Person (NRTP)

cbic.gov.in/htdocs-cbec/gs…

9:e-Invoice Under GST

cbic.gov.in/htdocs-cbec/gs…

10:e-Way Bill

cbic.gov.in/htdocs-cbec/gs…

11:Registration in GST

cbic.gov.in/htdocs-cbec/gs…

https://drive.google.com/file/d/1eNsC4TbcTLVToCqXVlbz7p-tRbxCLl4-/view?usp=drivesdk

GSTR-9C MANDATORY V/S OPTIONAL TABLES FOR FY 2021-22

GSTR-9C MANDATORY V/S OPTIONAL TABLES FOR FY 2021-22

Changes in GSTR-9 for FY 2021-22 compared to GSTR-9 for last FY 2020-21

Changes in GSTR-9 for FY 2021-22 compared to GSTR-9 for last FY 2020-21

GSTR-9 Mandatory & Optional Tables for FY 2021-22

GSTR-9 Mandatory & Optional Tables for FY 2021-22

If Income Tax Account get locked after multiple wrong attempts to login

Unlock option added by @IncomeTaxIndia 

(If Income Tax Account get locked after multiple wrong attempts to login)

Unlock e-filing account: 2 Option 

1:OTP on mobile number and email id registered with e-filing

2:One Time Password (OTP) on mobile number registered with Aadhaar

Option 1: OTP on mobile number and email id registered with e-filing

Option 2: One Time Password (OTP) on mobile number registered with Aadhaar

Clarification on new refund formula under inverted duty structure has been issued vide Circular No. 181/13/2022-GST dt-10.11.2022

Clarification on new refund formula under inverted duty structure has been issued vide Circular No. 181/13/2022-GST dt-10.11.2022

New FAQs Related to e-Invoicing

New FAQs Related to e-Invoicing

TDS u/s 194Q (TDS on Purchase of Goods) TCS u/s 206C (TCS on Sale of Goods) Examples of TDS u/s 194Q and TCS u/s 206C(1H)

TDS u/s 194Q (TDS on Purchase of Goods) 

TCS u/s 206C (TCS on Sale of Goods) 

Examples of TDS u/s 194Q and TCS u/s 206C(1H)

HSN-wise summary is Mandatory in Table 12 of GSTR-1No. of HSN Code (4 Digit or 6 Digit) Depends on Turnover of Preceding Financial Year 👇👇Notification No.78/2020

HSN-wise summary is Mandatory in Table 12 of GSTR-1

No. of HSN Code (4 Digit or 6 Digit) Depends on Turnover of Preceding Financial Year 👇👇

Notification No.78/2020

Section 194R, 194M and 194N relating to TDS

Section 194R, 194M and 194N relating to TDS