IGST REFUND - Exports

Dear All,

IGST Refund permitted if goods are exported claiming EPCG benefit . Please see the below notification.

Notification No.54/2018-Central Tax ,dt. 09-10-2018

Sub:-Seeks to make amendments (Twelfth Amendment, 2018) to the CGST Rules, 2017. This notification amends rule 96(10) to allow exporters who have received capital goods under the EPCG scheme

[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 Indirect Taxes and Customs
Notification No. 54/2018 ' Central Tax

New Delhi, the 9th October, 2018

G.S.R''(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-

1. (1) These rules may be called the Central Goods and Services Tax (Twelfth Amendment) Rules, 2018.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in rule 89, for sub-rule (4B), the following sub-rule shall be substituted, namely:-

    '(4B) Where the person claiming refund of unutillised input tax credit on account of zero rated supplies without payment of tax has '

    (a) received supplies on which the supplier has availed the benefit of the Government of India, Ministry of Finance, notification No. 40/2017-Central Tax (Rate), dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1320 (E), dated the 23rd October, 2017 or notification No. 41/2017-Integrated Tax (Rate), dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1321(E), dated the 23rd October, 2017; or
   
    (b) availed the benefit of notification No. 78/2017-Customs, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1272(E), dated the 13th October, 2017 or notification No. 79/2017-Customs, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1299(E), dated the 13th October, 2017,

the refund of input tax credit, availed in respect of inputs received under the said notifications for export of goods and the input tax credit availed in respect of other inputs or input services to the extent used in making such export of goods, shall be granted.'.

3. In the said rules, in rule 96, for sub-rule (10), the following sub-rule shall be substituted, namely:-

    '(10) The persons claiming refund of integrated tax paid on exports of goods or services should not have -

    (a) received supplies on which the benefit of the Government of India, Ministry of Finance notification No. 48/2017-Central Tax, dated the 18th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1305 (E), dated the 18th October, 2017 except so far it relates to receipt of capital goods by such person against Export Promotion Capital Goods Scheme or notification No. 40/2017-Central Tax (Rate), dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1320 (E), dated the 23rd October, 2017 or notification No. 41/2017-Integrated Tax (Rate), dated the 23rd October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1321 (E), dated the 23rd October, 2017 has been availed; or

    (b) availed the benefit under notification No. 78/2017-Customs, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1272(E), dated the 13th October, 2017 or notification No. 79/2017-Customs, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1299 (E), dated the 13th October, 2017 except so far it relates to receipt of capital goods by such person against Export Promotion Capital Goods Scheme.'.

[F. No. 349/58/2017-GST (Pt.)]

(Dr. Sreeparvathy S.L.)
Under Secretary to the Government of India

Note :- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June,2017, published vide number G.S.R 610 (E), dated the 19th June, 2017 and last amended vide notification No. 53/2018 - Central Tax, dated the 9th October, 2018, published vide number G.S.R 1007 (E), dated the 9th October, 2018.

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

Update on Notification- Amendment in Form 3CD

The existing Form No. 3CD was amended vide notification no. GSR 666(E) dated 20th July, 2018 with effect from 20th August, 2018 (refer mail below).

 

The Central Board of Direct Taxes (CBDT) vide Circular No. 6 / 2018 dated 17th August, 2018 has decided that the reporting under the proposed clause 30C (pertaining to General Anti-Avoidance Rules (GAAR) and proposed clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Tax Audit Report shall be kept in abeyance till 31st March, 2019.

 

Therefore, for Tax Audit Reports to be furnished on or after 20th August, 2018 but before 1st April, 2019, the tax auditors will not be required to furnish details called for under the said clause 30C and clause 44 of the Tax Audit Report.

 

E-form DIR-3 KYC to update database of Directors with MCA

Dear All,

Mendatory requirement for every director. 

LATE FEES if form not uploaded before 31.8.2018 is Rs.5000

PLEASE SUBMIT THE DOCUMENT WITHIN NEXT 5 DAYS

DIR-3 KYC – A step towards updating directors database. As a part of updating its directors database, The MCA has notified the format of E-form DIR-3 KYC under new Rule 12A, vide the 'Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018  dir-3-kyc-rules-kyc-directors.html)', via notification dt. 05.07.2018. DIR-3 kyc is available for filing.

 

Who is required to file DIR-3 KYC?

For Financial year 2018-19 – Any person who has been allotted "Director Identification Number (DIN/DPIN)" on or before 31st March 2018 and the status of such DIN is 'Approved', needs to file form DIR-3 KYC to update KYC details in the system on or before 31st August 2018.

 

For Financial year 2019-20 onwards – Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is 'Approved', would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year.

 

After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as 'Deactivated

Fees for filing E-form DIR – 3 KYC DIR-3 KYC under Rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014 –

1. Fee payable till the 30 April of every financial year in respect of e‐form DIR‐3 KYC as at the 31st March of immediate previous year. Not Applicable and Fee payable in delayed cases is Rs. 5000/‐

 

2. For the current FY (2018-2019), no fee shall be charged by the govt till August 31, 2018 and delayed fee of Rs. 5000/- shall be charged on or after September 1, 2018.

 

 

The following attachment is mandatory to be filed in all cases:

 Proof of Permanent address - Address proofs like passport, election (voter identity) card, and ration card, driving license, electricity bill, telephone bill or Aadhaar shall be attached and should be in the name of applicant only.

 

Conditional attachments:

 Copy of Aadhaar Card – In case 'yes' is selected in the field "Whether Resident in India"

 Copy of Passport – In case 'Yes' is selected in the field "Do you have a valid passport"

 Proof of present Address – In case 'No' is selected in the field "Whether present residential address is same as permanent residential address"

 

Optional attachments, if any

 

In case of Indian National:-

1. Valid Mobile Number for OTP Verification.

2. Valid E-Mail ID for verification and correspondence.

3. Self Attested Copy of PAN Card.

4. Self Attested Copy of Voter ID Card if any.

5. Self Attested copy of Aadhaar Card.

6. Self-attested Permanent Address Proof (Utility Bills issued by respective government authorities not older than 2 months)

7. Self-attested Present Address Proof, if present address different from permanent address.

8. Passport, If have Valid Passport

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

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GST : Note on NEW Returns and Return Formats - July 2018

Govt has issued a Note on GST - New Returns and Return Formats.

GST Council approved the key features and new format of the GST returns. This brief note lists the salient features of the new return format and business process for the information of trade and industry and other stakeholders.

A copy of the same for your reference. https://drive.google.com/file/d/0B8GyRsbVIg8gRGxHRmdlQl9wMFlkWFIwcThfZ3FMSGN4ZF9n/view?usp=sharing

Regards,
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CA.C.V.PAWAR

Due date for Income tax return filling extended to 31st August, 2018

Dear All,

 

The Central Board of Direct Taxes (CBDT) via Notification dated 26th July, 2018 has extended the 'due date' of filing return of income for AY 18-19 to 31^st August, 2018 for certain categories of taxpayers for whom the original 'due date' of filing return of income was 31^st July, 2018.

 

Website for patanjali swadeshi samriddhi card

Website for patanjali swadeshi samriddhi card apply online

Website for Reset of PIN for patanjali swadeshi samriddhi card 

Website for Creation of patanjali swadeshi samriddhi card profile

http://www.swadeshisamridhi.com/

This link for the benefit for those we do not get correct website address for patanjali swadeshi samriddhi card. 

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

Revision of Monetary Limits for filing Income Tax Appeals

The Central Board of Direct Taxes (CBDT) via Circular No. 3/2018 dated 11th July, 2018 has revised the monetary limits for filing of appeal by the Department before Income Tax Appellate Tribunal, High Courts and Supreme Court. The said circular shall supersede the Circular No 21 of 2015 dated 10^th December, 2015.

As per the Circular, appeals / SLPs shall not be filed in case where the "tax effect" does not exceed the monetary limits as under :

a.       Before Appellate Tribunal – Rs. 20,00,000 as against 10,00,000 as per the previous circular.

b.      Before High Court – Rs. 50,00,000 as against 20,00,000 as per the previous circular.

c.       Before Supreme Court – Rs. 1,00,00,000 as against 25,00,000 as per the previous circular.

Further, the Circular defines the term 'tax effect'.

 

Where the disputed issues arise in more than one assessment year, appeal can be filed only for those assessment year or years where the 'tax effect' exceeds the monetary limits.

However, in case of composite order of any High Court or Appellate Authority which includes more than one assessment year, appeals shall be filed in respect of all such assessment years even if the 'tax effect' in any year is less than the monetary limits.

 

In case where appeal has not been filed only on account of tax effect being less than the monetary limit, the PCIT /  CIT shall specifically record that "even though the decision is not acceptable, appeal is not being filed only on consideration that tax effect is less than the monetary limit specified in the Circular".

 

The following issues should be contested on merits even though the 'tax effect' is less than the monetary limits :

a)      Where the Constitutional Validity of the provisions of an Act or Rule is under challenge, or

b)      Where Board's order, Notification Instruction or Circular has been held to be illegal or ultra vires, or

c)       Where Revenue Audit objection in the case has been accepted by the Department, or

d)      Where the addition relates to undisclosed foreign assets / bank accounts.

 

In cases where the tax effect is not quantifiable (Eg. Registration of trusts or institution under section 12A or 12AA), filing of appeal shall not be governed by the monetary limits.

It is pertinent to note that this circular will apply to SLPs/appeals/cross objections/ references already filed and to be filed. Hence, it applies retrospectively. Pending appeals below the specified tax limits may be withdrawn/not pressed.

IMP: UPDATE ON KYC OF DIRECTORS

UPDATE ON KYC OF DIRECTORS

 

 

ü WHY: As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new e-form viz-DIR-KYC

 

ü FORM: DIR-3 KYC will be notified shortly.

 

ü WHO: Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in 'Approved' status, would be mandatorily required to file form DIR-3 KYC. Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

 

ü WHEN: On or before 31st August,2018.

 

ü HOW: While filing the form, the Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password (OTP).

 

ü FILING AND CERTIFICATION: The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA).

 

Note: After expiry of the due date by which KYC form is to be filed, the MCA21 system will mark all approved DINs(allotted on or before 31^st March 2018) again which DIR-3 KYC form has not been filed as 'Deactivated' with reason as 'Non-Filing of DIR-3 KYC. After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken.

 

Regards,
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CA.C.V.PAWAR

How to make profession tax payment online on mahagst.gov.in fy 2018-19

Madam/Dear Sir,

We have to inform you that, the last date of payment of profession tax for fy 2018-19 is 30^th June 2018. You are requested to pay the profession tax before due date.

Since the system for professional tax payment shifted to new SAP based website; the clients and even banks are facing problem in making online payment. Therefore, to facilitate  e-payment and to save your time, we have prepared guide for making e-payment of profession Tax.

We have prepared to step by step process guidance for making profession tax payment. We are sure that this would certainly help you in making payment.

New process to make Profession Tax Payment fy 2018-19:

1.       Visit https://mahagst.gov.in/

2.       At the Top of page there is option to convert website text to English, please Click on the same and now you will see website in English

3.       Scroll down and you will find eight square boxes having various service options under the  Welcome / Suswagata

4.       Scrolls and take your cursor to 'e-payments' box (don't click). And from the available 3 options click on 1^st option 'Advance Payment"

5.       Now on next screen: From the available options (TIN, PAN, TAN & Old Act); chose PAN (Click on circle opposite to PAN.

6.       Enter your PAN (i.e. PAN of proprietor, professional, director or Company etc.) in given box. You can also enter your PTE number if you remember it by clicking on TIN.

7.       Enter the Captcha text properly in empty box below that. (you can generate new Captcha if text not easy to understand) Then Click on Next

8.       Now your PTE number will appear along with name confirm the same.

9.       In ACT option - Select --- PTEC ACT

10.   In Form ID - Select ---- Form_VIII

11.   In Financial Year - select ----- 2018-2019

12.   In Period - select ----- April 2018-March 2019

13.   In Location – Select- Nashik (from drop down list.)(Other district in case your number from other city)

14.   In Amount (INR) – Enter---- 2500 (or applicable amount)

15.   In mobile NO. – You can enter/alter if you want different number or keep existing

16.   Then confirm all the details entered and CLICK on "Proceed for Payment"

17.   AT next Screen – Select "Agree" option at the top-middle of the screen

18.   Then Click on SBI ePay (or GRAS if your bank is not supported by SBI epay)

19.   Then Click on "Proceed" at the right-bottom side of screen

20.   Then the draft challan will appear on screen. Confirm the details of challan

21.   Then click on "Make Payment" option at the center-bottom of screen

22.   At next Screen " Click on "Internet Banking" option at the centre of screen

23.   If your bank is SBI Click on SBI Symbol or Chose bank from drop down menu under 'All Banks"

24.   After Choosing your bank Click on "Pay Now" (You will be charged with Rs. 11.80 (extra by bank as service charges)

25.   Now you will be taken to 'internet banking' page of your bank

26.   Enter your user id and password and make payment

27.   After making payment wait to get the challan generated. Don't close or refresh after making payment. Print and save the challan generated. And send copy of challan to us.

 

Thank you. Kindly give your feedback.

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

CBDT Notifies Cost Inflation Index for AY 2019-20 at 280

 

The Central Board of Direct Taxes vide Notification No.26/2018/F.No.370142/3/2018 notifies Cost Inflation Index for FY 2018-19 at 280. This notification shall come into force with effect from April 1, 2019 and shall accordingly apply to AY 2019-20 and subsequent years.

 

GST Council meet: Single, monthly return filing system finalised;

GST Council meet: Single, monthly return filing system finalised; GSTN to be 100% govt-owned; decision on sugar cess in two weeks In a media briefing after the meeting, FM Jaitley said the Council has approved making GST-Network (GSTN) a government entity by taking over 51 percent stake held by private entities.

The GST Council headed by Finance Minister Arun Jaitley today finalised a single, monthly return filing system and gave approval for 100 percent government stake in Goods and Services Tax Network (GSTN).

The new return filing system will come in place in a year's time, finance and revenue secretary Hasmukh Adhia said.

GSTN will be given six months to make necessary changes in the software towards to shift to the new return filing format. As a result, companies will have to file the summary form GSTR 3B, and GSTR1 (outward supplies form) for the next months.

In the next six months, input tax will be given to buyers on a provisional basis. And in the final phase, in about a year's time, the new tax filing system will be implemented, which will ensure that tax evasion,

Keeping in view the need to move towards a cashless economy, the Council-- a constitutional body for making recommendations to the Centre and states on issues related to GST--discussed the proposal of a concession of 2 percent in GST rate on B2C supplies, for which payment is made through cheque or digital mode, subject to a ceiling of Rs 100 per transaction.

Jaitley said that the Council has recommended setting up of a group of ministers (GoM) from the states will look into the proposal and make recommendations, before the next meeting.

The Council could not reach consensus on the proposal to impose cess on sugar and recommended setting up of GoM to take a final call.

The recommendations will be presented to the Council in two weeks.

Regards,
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CA.C.V.PAWAR

Key Takeaways from 27th GST Council Meeting

The 27th GST Council meeting held today at New Delhi through video conferencing. The following are the important decisions taken: 1. Simplification of Returns: GST Council today in its 27th meeting approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification.  2. Increasing Government's Stake in GSTN: Presently, the Central Government and State Government are holding 24.5% equity shares respectively and the remaining 51% are held by non-Governmental institutions and through various mechanisms, GSTN is under strategic control of government. Majority of the GST processes including registration, filing of returns, payment of taxes, processing of refunds is IT driven and GSTN is handling large-scale invoice level data of lakhs of business entities including data relating to exports and imports. Considering the nature of 'state' function performed by GSTN, Council felt that GSTN be converted into be a fully owned government Company.  3. Incentive for Digital Payments: Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which payment is made through cheque or digital mode, subject to a ceiling of Rs. 100 per transaction, so as to incentivise promotion of digital payment.  The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, before the next Council meeting, keeping in mind the views expressed in GST Council.  4. Sugar Cess: Keeping in view the record production of sugar in the current sugar season, and consequent depressed sugar prices and build-up of sugarcane arrears, the Council discussed the issue of imposition of sugar cess and reduction in GST rate on ethanol in great detail.  The council has recommended for setting up of a Group of Ministers from State Governments to look into the proposal and make recommendations, within two weeks, keeping in mind the views expressed in GST Council in this regard.

Due Dates For Co-Operative Society Audits – Latest Circular

According to the latest circular on Co-Operative Society Audits, below are some important dates:

1. Finalisation of Acts –  15th May

2. Accounts to be handed over for Audit -1st June

3. Audit Completion: 31st July

4. Audit Report Upload – 31st August  or 15th September.

5. AGM Date – 30th Sept (to be held on or before).

6. Mandatory Annual Return by Society – by 30th Sept.

7. Mandatory Return by Society About Auditor Appointment – One month from AGM or 31st October

8. Online Audit Order Generation by Auditor – 31st October.

9. Audit Rectification Report by Society: 3 months from the date of submission of report by auditor.

10. Rectification Report Upload by Auditor through Audit login: Once received from Society

-Regards
CA.C.V.PAWAR
0253-2319641 MOBILE:9423961209

CBDT notifies Income Tax Return Forms for AY 2018-19

To:

Dear All,

 

CBDT notifies Income Tax Return Forms for AY 2018-19 (FY 2017-18).

 

 

 

Thanks and Regards,

Applicability of Standard deduction to Pension received from former employer

Dear All,

 

CBDT clarifies through Press Release that, any taxpayer who is in receipt of pension from his former employer shall be entitled to claim a deduction of Rs 40000/-(Standard Deduction) or amount of pension whichever is less , u/s 16 of the Income Tax Act.

 

CBDT Press Release is attached herewith for your reference.

 

 

 

Thanks and Regards, 

CBDT : Clarification on return processing

Dear All,

 

The Central Board of Direct Taxes (CBDT) on 28^th March, 2018 clarified that all the returns for AY 2017-18 and onwards have to be processed under section 143(1) of the Income-tax Act, 1961 (Act) irrespective of the fact whether the cases are under scrutiny or AO contemplating withholding of refund under section 241A of the Act on concern of recovery.

 

The returns pushed to the AO for processing by the CPC are required to be processed electronically on the Income-tax Business Application Software (IBAS) which is launched by the CBDT and functioning since 31^st October, 2017. However, in exceptional circumstances where returns cannot be processed electronically due to technical difficulties, the AO can process the return manually with the prior approval of Pr. CIT.

 

Also directs that before taking up manual processing, technical difficulties in such cases should be referred to Pr. DGIT (Systems) who shall satisfy himself about the inability of processing returns manually due to technical difficulty within reasonable time and then permit manual processing.

 

To avoid any arbitrariness, the returns of AY 2017-18 and onwards which are pushed by the CPC to the AO for processing, as far as possible, shall be handled in a chronological manner.

 

 

 

GST- Important points to be considered at the end of Year - Year end GST Checklist

GST- Checklists for year-end activities / checks

Particulars	Things to be complied with or taken care of
E-way bill	E-way bill is mandatory for all inter-State supplies from 01.04.2018 if the value of taxable goods therein exceeds Rs. 50,000
Renewal of LUT	Online renewal of LUTs for the F.Y. 2018-19 (existing LUT would not be valid supplies from 01.04.2018) -
Cross-charges and issue of invoices	Cross-charge of costs (if any) to be made by 31.03.2018 – typically, for use of common infrastructure / maintenance, corporate office expense to branches or warehouses (etc.)
Reconciliation of outward supplies	Reconcile turnover as per books of account with that of the aggregate details reflected in the returns
Reconcile of input credits	Review of list of input credits claimed in the returns – the amount not claimed (if any) to be claimed on or before filing of returns for September 2018 or date of filing of annual return.
Transactions forming part of the balance sheet	Whether GST has been appropriately discharged - e.g. advances received, deletions to fixed assets, whether transfers between GSTINs of same PAN are nullified in-toto, reversal of credits on loss / destruction of physical stock, etc.
Ageing analysis for reversal of Input Tax Credit (ITC)	If the supplier has not been paid within 180 days, ITC claimed earlier on to be reversed (can be reclaimed as and when paid) - to review the list of ageing of creditors.
Check on suppliers' compliance status	Perform checks on whether the suppliers are filing their returns in time, and to create safeguard measures in case of defaulting suppliers
Analyse impact of exempt supplies	Review of outward supplies for identifying the tax credits that are to be reversed, if any (to the extent it relates to exempt supplies).
New series of Tax Invoices	The serial of the tax invoices should be unique to every financial year.
Review of existing GST registrations	Review of the type of GST registrations to identify shift if any – viz., from composition to regular or vice-versa.
Monthly / Quarterly option	Exercise the option for filing of monthly / quarterly returns (where the aggregate turnover for FY 2018-19 is expected to be below Rs. 1.5 Crore).

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

Export - LUT validity upto 31.3.2018

Dear All,

 

It is to inform that UT-1 ( Letter of Undertaking for Export ) taken in the year 2017 -2018 is valid only upto 31.03.2018, hence it is requested to file/submit new letter of undertaking ( UT-1 ) for the year 2018-2019.

It is further inform that UT-1 ( Letter of Undertaking for Export) can also be filed online.

Regards,
-------
CA.C.V.PAWAR
PATIL DAWARE GIRASE PAWAR & ASSOCIATES

CHARTERED ACCOUNTANTS

0253-2319641. M-9423961209

INDIAN CA - NURTURED IN INDIA, GROOMED FOR THE WORLD

For latest Updates visit Blogspot : http://canews1.blogspot.in

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Breaking: Govt. Notifies National Financial Reporting Authority ( NFRA ) w.e.f. 21.03.2018

Breaking: Govt. Notifies National Financial Reporting Authority ( NFRA ) w.e.f. 21.03.2018

 

The Central Government has notified National Financial Reporting Authority ( NFRA ) with effect from 21.03.2018.

The establishment of National Financial Reporting Authority (NFRA) and creation of one post of Chairperson, three posts of full-time Members and one post of Secretary for NFRA.

The provision will initially apply to all listed companies and unlisted large companies. For others, the existing disciplinary mechanism under the Institute of Chartered Accountants of India (ICAI) will continue.

-Regards
CA.C.V.PAWAR
0253-2319641 MOBILE:9423961209

Alert - CBDT invites suggestions from general public on new direct-tax law

Dear All,

 

A Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country. In this connection, the Central Board of Direct Taxes (CBDT) invites suggestions and feedback from stakeholders and general public by 2^nd April, 2018 in the format attached herewith. The suggestions / feedback may be sent through email at rewriting-itact@gov.in  

 

The CBDT issue questionnaires on broadly 6 categories viz –

 

A)     Filing of Return of Income

B)      Tax Credit

C)      Processing / Scrutiny of return

D)     Litigation and recovery of disputed tax demand

E)      Penalty and Prosecution

F)      Any other suggestions

 

The format and the press release is attached herewith for your reference.

 

Thanks and Regards

 

Fwd: FILING OF MISSING GSTR- 3 B & GSTR-1 -REG

---------- Forwarded message ----------
From: Saurabh1 Yadav <Saurabh1.Yadav@icegate.gov.in>
Date: Thu, Mar 22, 2018 at 12:52 PM
Subject: FILING OF MISSING GSTR- 3 B & GSTR-1 -REG

Dear Taxpayer,

 

It is to inform you that GST Seva Kendras are functioning across field formations in the jurisdiction of Nashik GST & CX Commissionerate. The GST Seva Kendras may be contacted for help regarding filing of GSTR – 3B and GSTR – 1. All necessary support would be extended to the taxpayers.

The important dates for filing of GST Returns are:

1.   If Aggregate Turnover < Rs. 1.5 Crores

a.    GSTR – 1 (Jan - Mar): by 30.04.2018

2.   If Aggregate Turnover > Rs. 1.5 Crores

a.    GSTR – 1 (Jan - 2018): 10.03.2018

b.   GSTR – 1(Feb - 2018): 10.04.2018

3.   GSTR – 3B (Monthly): by 20^th of the succeeding month.

Those taxpayers who have not filed the Returns for the periods earlier to those mentioned above are hereby requested to do so immediately.

 The GST Seva Kendras may be contacted on the following phone numbers:

1.   Nashik – I Division GST Seva Kendra: 0253-2375444

2.   Nashik – II Division GST Seva Kendra: 0253- 2376106

3.   Jalgaon Division GST Seva Kendra:0257-2238147

4.   Dhule Division GST Seva Kendra: 02562-278365

5.   Ahmednagar Division GST Seva Kendra: 0241-2450152

6.   GST Seva Kendra (HQ): 0253-2399934

 

 

Commissioner,

CGST & CX,

                                                                                                    Nashik