PAN-AADHAR Date Extension & Consequences of Non Linking!!

PAN-AADHAR Date Extension & Consequences of Non Linking!!

ANALYSIS OF :-

📌Newly Substituted Rule 114AAA

Via NNo. 15/2023

incometaxindia.gov.in/communications…

📌Circular 03/2023

incometaxindia.gov.in/communications…

Service of Notice under CGST📃

Service of Notice under CGST📃 

S.169 allows any one of the following methods 👇

a) Serving directly or by messenger

b)Serving by post 

c) Serving by E-mail 

d) Serving at GST portal 

e) Serving by publication in newspaper 

f) Serving by affixing at conspicuous place

Date of Service of Notice🗓️

Notice,Order etc. shall be deemed to be served on the date on which it is:

Tendered or

Published or

Copy is affixed

📬If sent by Reg./Speed Post

-At expiry of period normally taken by such post unless contrary provided

So Notice,Order, Communication etc. is legally valid even if the same is not uploaded on GST Portal but is served via any of the allowed modes!

(As is happening in case of ASMT-10 & other notices issued by CGST dept. in most of the instances)

Regard-: CA Abhas Halakhandi

e-Pay Tax service is now enabled for South Indian Bank with Over the Counter and Net Banking options

e-Pay Tax service is now enabled for South Indian Bank with Over the Counter and Net Banking options

If your Turnover in F.Y.2022-23 exceeds Rs.10 Crores then

If your Turnover in F.Y.2022-23 exceeds Rs.10 Crores then provisions of S.194Q and S.206C(1H) shall be applicable to you with effect from 01/04/2023 

Everything about TDS u/s 194Q and TCS u/s 206C(1H) (Pic 1 & 2) 

Accounting Entries for TDS u/s 194Q and TCS u/s 206C(1H) (Pic 3)

Regard: CA Mayur J Sondagar

Income Tax Dept launched a Mobile app ‘AIS for Taxpayer’ to facilitate taxpayers

 The Income Tax Department has launched a Mobile app, namely, ‘AIS for Taxpayer’ to facilitate taxpayers to view their information as available in the Annual Information Statement (AIS) / Taxpayer Information Summary (TIS). ‘AIS for Taxpayer’ is a mobile application provided free of cost by the Income Tax Department, and is available on Google Play & App Store. The app is aimed to provide a comprehensive view of the AIS/TIS to the taxpayer which displays the information collected from various sources pertaining to the taxpayer.

Taxpayers can use the mobile app to view their information related to TDS/TCS, interest, dividends, share transactions, tax payments, Income Tax refunds, Other Information (GST Data, Foreign Remittances, etc.) as available in AIS/TIS. The taxpayer also has the option and the facility to provide feedback on the information displayed in the app.

To access this mobile app, the taxpayer needs to register on the app by providing PAN number, authenticate with the OTP sent on mobile number & e-mail registered on the e-filing portal. Subsequent to the authentication, the taxpayer can simply set a 4-digit PIN to access the mobile app.

This is another initiative of the Income Tax Department in the area of providing enhanced taxpayer services facilitating ease of compliance.

इस मोबाइल ऐप का उपयोग करने के लिए, करदाता को पैन नंबर प्रदान करके ऐप पर पंजीकरण करना होगा, मोबाइल नंबर पर भेजे गए ओटीपी और ई-फाइलिंग पोर्टल पर पंजीकृत ई-मेल से प्रमाणित करना होगा। प्रमाणीकरण के बाद, करदाता मोबाइल ऐप तक पहुंचने के लिए बस 4 अंकों का पिन सेट कर सकता है।

यह अनुपालन में आसानी की सुविधा प्रदान करने वाली करदाता सेवाएं प्रदान करने के क्षेत्र में आयकर विभाग की एक और पहल है।

The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1909631

GST e-Invoice System enabled the ‘E-Invoice voluntary enablement’ for FY 2022-23

GST e-Invoice System enabled the ‘E-Invoice voluntary enablement’ for FY 2022-23

 

Update on GSTAT: 4-Member Appellate Tribunal Proposed in Each State: Sources

Update on GSTAT: 4-Member Appellate Tribunal Proposed in Each State: Sources 

A four-member appellate tribunal is proposed to be set up in each state to streamline and expedite the dispute resolution process with regard to GST, according to an official.

Each state appellate tribunal would have two technical members (one officer each from the center and states) and two judicial members, the official told PTI.

A division bench comprising two members -- one technical and one judicial -- will decide the appeals brought before it. As per the proposal, each state appellate tribunal will have two division benches and thus will be able to deal with more appeals, the official noted.

There will also be a national appellate tribunal, which would be set up in Delhi, and comprise one judicial member and one technical member.

The national appellate bench will mainly look into appeal cases on disputes between the department and assessee over the 'place of supply' under the GST regime.

It, however, will not take up any appeal with regard to divergent rulings by state appellate tribunals, the official added.

*CA Bimal Jain*

If Aggregate Turnover During FY 22-23 exceeds below specified amounts then following new compliances applicable w.e.f.01/04/2023

If Aggregate Turnover During FY 22-23 exceeds below specified amounts then following new compliances applicable w.e.f.01/04/2023

Scam Alert: Cafe in Nagpur Accused of Charging Fake GST to Customers

 With the Goods and Services Tax (GST) rolled out in the year 2017, eating at restaurants has become a costly affair. But most people still handover the amount to the restaurant without checking if the GST charged is even valid or not.

Recently, a netizen pointed out that cafe ‘Seven O’Eleven,’ which is located in Shraddhanandpeth has been charging GST to its customers on the final amount, despite having the GSTIN number cancelled.

The restaurant has been accused of cheating the customers and issuing and accepting fake invoices could be moved to the Indian Penal Code. Maximum sentence under section 420 of the IPC for cheating case is seven years, whereas the same is ring-fenced to five years in GST code, as per a report.

In simpler terms, the restaurant has been earning extra by all wrong means and filling their pockets.

Source from: https://www.nagpurtoday.in/nagpurs-cafe-seven-oeleven-cheats-people-by-charging-fake-gst/03151141

Meaning of No Supply, Non GST Supply, Non Taxable Supply, NIL Rated Supply, Exempt Supply etc.

 Meaning of No Supply, Non GST Supply, Non Taxable Supply, NIL Rated Supply, Exempt Supply etc. 

Definition may be comparatively easy to understand when it is being defined in the GST Act. It will most critical to understand the term when not defined in the Act and then used in Form/Returns with an Expectation by Govt to report the correct data and submit correct Returns by the registered person. 

Based on my understanding, I would like to explain the meaning of each term with the help of definition/instruction etc. given in the Act. I do agree that there may be different view as well.

Taxable vs. Non Taxable Supply 

Exempt Supply vs Nil Rated

Regard

CA Arun Chhajer 

GSTN enabled option to utilize the amount in Cash Ledger PMT-09

NewsGSTN enabled option to utilize the amount in Cash Ledger of one GSTIN by another GSTIN having same PAN

The Goods and Services Tax Network (“GSTN”) has enabled the option to utilize the amount in the cash ledger of one the Goods and Services Tax Identification Number (“GSTIN”) by another GSTIN (entities having the same PAN) by way of transfer through form GST PMT-09 has been made effective in the GST portal.

Relevant Provision:

Rule 87(14) of the Central Goods and Services Tax Rules, 2017 (“the CGST Rules”)

Electronic Cash Ledger –

(14) A registered person may, on the common portal, transfer any amount of tax, interest, penalty, fee or any other amount available in the electronic cash ledger under the Act to the electronic cash ledger for central tax or integrated tax of a distinct person as specified in sub-section (4) or, as the case may be, sub-section (5) of section 25, in FORM GST PMT- 09:

Provided that no such transfer shall be allowed if the said registered person has any unpaid liability in his electronic liability register.

GSTN launches 4 new e-invoice registration services with private IRPs:1) Clear Tax2) Cygnet3) E&Y4) IRIS Business LtdThe taxpayers now have a choice of more than one IRP (earlier being the only single portal of NIC), which they can use to register their e-invoices.

List of Some Useful Contact Numbers and Email id(Income Tax, GST, CBIC, TRACES, ICEGATE, Udhyam, NSDL Protean Tech, MCA)

List of Some Useful Contact Numbers and Email id

(Income Tax, GST, CBIC, TRACES, ICEGATE, Udhyam, NSDL Protean Tech, MCA)