Tax Consultant

1 . The E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their return in Form GSTR-3B (Monthly / Quarterly) / statement in CMP-08, for a two or more consecutive tax periods, in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017. As you may be aware, the facility of blocking E way bill generation has been temporarily suspended due to pandemic. 2. The government has now decided to resume the blocking of EWB generation facility on the EWB portal, for all the taxpayers in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017, after 15th August onwards. 3. Thus, after 15th August 2021, the System will check the status of returns filed in Form GSTR-3B or the statements filed in Form GST CMP-08, and block the generation of EWB in cases of: Non filing of two or more returns in   Form GSTR-3B   (Monthly/Quarterly frequency as may be applicable) for the tax periods   up to June, 2021   and Non filing of 02 or more s...

                                                                               To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All)  The Principal Director Generals/ Director Generals (All)   Madam/Sir, Subject : Clarification regarding extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27.04.2021.  The Government has issued notifications under Section 168A of the CGST Act, 2017, wherein the time limit for completion of various actions, by any authority or by any person, under the CGS...

Introduction ;- A supplier will come to know the extent of his tax liability which has to be discharged on a continuous and regular basis only after assessment. Assessment means determination of tax liability and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment. The major determinants of the tax liability are generally the applicable tax rate and the value. There might be situations when these determinants might not be readily ascertainable and may be subject to the outcome of a process that requires deliberation and time. Hence like under the previous laws, when due to various circumstances it might not be always possible, at that point of time, to carry out an assessment and determine the exact duty liability, the GST law also provides for provisional assessment. The Asst. Commissioner/Dy. Commissioner of Central Tax provisionally determines the amount of tax payable by the supplier and is subject to final determination...

  Important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers. Few important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers are as given below: A.Auto population of GSTR-3B liability from IFF and Form GSTR 1 :   A taxpayer under QRMP Scheme can declare their liability through optional IFF for Month 1 and Month 2 of a quarter & Form GSTR-1 for Month 3 of that quarter. Declaration of liability in these forms would now be auto-populated in their Form GSTR-3B (Quarterly) for that quarter, based on their filed Form GSTR-1 and IFF. These fields are editable and in case their values are revised upwards or downwards, the edited field(s) would be highlighted in red colour and a warning message will be displayed to the taxpayer. However, the system would not prevent taxpayer from filing of Form GSTR-3B with edited values. B.Nil filing of Form GSTR-1 (Quarterly) through SMS :   Nil filing of Form GSTR-1 (Qtrly) through...

 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India  Ministry of Finance  Department of Revenue  Central Board of Excise and Customs  Notification No. 02/2018 – Central Tax                                                                                                      New Delhi, the 20th January, 2018 G.S.R. …..(E).— In exercise of the powers conferred by section 168 of the Central Goods and Services Tax ...

     [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, SECTION 3, SUB-SECTION (i)]   GOVERNMENT OF INDIA  MINISTRY OF FINANCE  (Department of Revenue)  Notification No. 1/2018- Central                                                                                                  Tax New Delhi, the 1st January, 2018   G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 201...

 

       TDS On Purchases Of Goods ( Sec 194Q) As per section 194Q(1) “ Any person, being a buyer who is responsible for paying any sum to any resident (hereafter in this section referred to as the seller) for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1 per cent. of such sum exceeding fifty lakh rupees as income-tax.” 1.    Applicability:- All the purchaser whose turnover in preceding year is more than 10 crores is liable to deduct TDS on those transactions which meet the criteria :- ü     ü   Goods must be purchased from resident. ü   Goods purchased for a value of excessing Rs 50 Lakhs. TDS has not been deducted under any other provision of the        ...