INTEREST/PENALTY PROVISIONS IN GST LIABILITY ON ACCOUNT OF LATE PAYMENTS – F.Y. 2017-18 & 2018-19 (ALREADY GST STATE WISE DEPARTMENTS HAVE STARTED TO DEMAND INTEREST @18% ON LATE PAYMENT OF GST) $$ IGNORED BY SUPPLIERS/CAs/ICWAs AT THE TIME OF ACCOUNTING: In Final Accounts – 2017-18 Liability in Books In Final Accounts – 2018-19, If already […]
During filling & filing of GSTR 9C it was found that there is an error file generated by GSTN when Digitally Signed GSTR 9C is up-loaded and error is reflecting at PT III (9) at row Q & P – by saying The amount paid by you mentioned at Q is not matching with amount reported by you in GSTR 9. Similar error reflected at R also.
Article explains Important measures/work required before filing or Preparing Form GSTR 9C, Modus Operandi of Filing Form GSTR 9C and alsd Contains Draft Format of management representation letter on GST Audit, draft format for GST Audit Acceptance Letter and draft format of GST Audit Appointment Letter.
Utilisation Of ITC Sequence In GST Act- Circular No. 98/17/2019-GST Dt.23-04-2019 RECENT CHANGES & CLARIFICATIONS ON SEQUENCE OF ITC UTILIZATION After introduction of section 49A in CGST Act, 2017 by amendment in CGST Act through CGST (Amendment) Act, 2018 a confusion arose due to new sequence of setting up ITC sequence which was earlier already […]
Important Notification No. CT-22 has come on 23/04/2019 i.e. w.e.f. 21/06/2019 no person (including a consignor, consignee, transporter, an e-commerce operator or a courier agency) will not be able to fill Part A of E way-Bill if he has not filed his two consequently returns of GST – i.e. If monthly then two months returns […]
In continuation of my last Article ‘Implication of Supreme Court Verdict on Provident Fund‘ published on 2nd March, 2019 on PF calculation after verdict of Hon’ble Supreme Court Judgment, the following illustration will help you to understand that how to calculate salary for PF deduction and extra cost you have to bear as Employer: Calculation […]
Supreme Court’s (SC) ruling on Provident Fund on Thursday (28 February, 2019) states that employers can’t segregate special allowances from basic salary. It has to be included for PF deductions under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, said a bench of Justices Arun Mishra and Naveen Sinha.
A REVIEW ON CURRENT GST PROVISIONS AS AT 24TH FEBRUARY 2019 (Recent Status/Amendments on Returns, Dates, Rules, Forms, Order, Circular etc.) Volume 1 – GST Act, Rules – dt.24-02-2019 Dear readers, every day you may come across with various amendments, directives issued by Govt. on alone GST Act, Rule etc since it’s implementation w.e.f. 1/7/2017. […]
You all are aware w.e.f. 1/10/2018 Govt has announced implementation of most awaited section 51 of GST Act, 2017 related to TDS under GST and it’s provisions, rules etc. A Quick View of Provisions of TDS under GST regime is as under: WHAT NOTIFICATION SAYS: (Notification No. 50/2018 – Central Tax, New Delhi, the 13th […]
Government has clarified procedure and introduced Forms through above circular for ON ROAD CHECKING OF GOODS moved within or interstate with a value more than Rs.50,000/- (which is also subject to checking). I have tried to simplify the procedure given in said circular at each stage:
