आओ GST सीखें

आओ GST सीखें: Very very very IMPORTANT:- Highlights on  Tax Payment Process under GST: 1. Only 25 banks have been authorised to collect GST. 2. HDFC, ICICI and Axis Banks are not eligible to collect GST. 3. Regd persons having their accounts with these banks can pay only through NEFT/RTGS only. 4. All tax challans are to be created only after logging into your GST account. 5. CPIN will be generated for each such challan created. 6. Such challan can be used to pay later but only within 15 days. 7. Such challans having CPIN are also required even if you wish to pay through epayment or debit/credit card. 8. After payment of challan either at bank or epayment mode, a CIN number will be generated. 9. If payment is made through NEFT/RTGS, then you have to log in to your account and enter your UTR number in your profile. 10. Three days after the generation of CIN or entering your UTR, your tax payment will be reflected in your e-cash ledger. 11. Only after the payment is reflecte

आओ GST सीखें: क्या 2 महीने GST की कोई return नहीं जानी??? जी नहीं ऐसा नहीं है, पहले 2 महीने GST की Return जाएगी, बस ये return थोड़ी simple होगी! For the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B) containing summary of outward and inward supplies which will be submitted before 20th of the succeeding month. GSTR-3B will have to be filed for the month of July and August, 2017 as per the timeline given below: July 2017  by 20th August, August  2017 by 20th September We have separate team to help all of you! Regards, CA Lalit Aggarwal, 9999565491 Details to be furnished in Form GSTR-3B is as under:- Consolidated taxable value and tax amount of Outward and inward supplies liable under RCM. Consolidated taxable value and tax amount of inter-state supplies made to unregistered persons, composition taxable persons and UIN holders. Details of Eligible input tax credit. Details of Exempt, nil-rated and non-GST inward supp

आओ GST सीखें: 1.केवल दो तरह के बिल जारी होंगे 1.टैक्स इनवॉइस या 2.बिल ऑफ़ सप्लाई 2. बिल ऑफ़ सप्लाई “समाधान” वाले व्यापारी जारी करेंगे या करमुक्त मॉल की बिक्री करने वाले 3.अन्य सभी व्यापारी अर्थात taxable माल की बिक्री करने वाले सभी व्यापारी टैक्स इनवॉइस जारी करेंगे 4.पूर्व में वैट की तरह सेल इनवॉइस की concept ख़त्म कर दी गयी है I 5.टैक्स इनवॉइस में चार्ज किये जाने वाले टैक्स CGST, SGST या IGST की दर और राशि प्रथक प्रथक सहित खोल कर अवश्य दिखलाया जाना होगा 6.बिल ऑफ़ सप्लाई में चार्ज किये जाने वाला टैक्स खोल कर कर नहीं दिखा सकते I बिल inclusive method पर टैक्स की राशी सहित बनेगा I 7. बिल का सीरियल क्रमांक 16 अंकों के साइज़ तक का रख सकते हैं I इसमें कुछ विशेष अंक चिह्नों को शामिल कर सकते हैं जैसे हायफन, डैश अथवा स्लैश I सीरियल क्रमांक पूरे वर्ष क्रमागत चलेगा I बिल Series एक या अधिक रख सकते हैं I 8.यदि क्रेता पंजीकृत है तो क्रेता का नाम, पता और GST न. लिखना होगा 9.क्रेता का पता और माल जहाँ पहुंचा के देना है (place of delivery) दोनोँ प्रथक प्रथक हो सकते हैं I टैक्स इन्वोइस में दोनों स्था

Concept of LUT/Bond and Bank Guarantee for Exporter s 1) As Per Rule 96A of CGST Rule 2017, exporter who is exporting Goods without Payment of IGST is required to Furnish a Bond or a Letter of Undertaking in Form GST RFD-11 2) *Following Person Eligible to Submit LUT instead of a Bond*- a) Status Holder as specified in the Foreign Policy 2015-2020. OR b) Exporter who has recd Foreign Inward Remittances amounting to Minimum 10% of export turnover in the preceding Financial Year subject to Minimum Inward Remittance of 1 Crore. and he has not been prosecuted for any offence under the Central Goods and Services Tax Act, 2017 (12 of 2017) or under any of the existing laws in case where the amount of tax evaded exceeds two hundred and fifty lakh rupees 3) *As Per Circular No-4 Dated 7 July 2017*- Based on the track record of exporter a bank guarantee required to be submitted along with the bond may be waived off by the Jurisdictional GST Commissioner. The Bank Guarantee should norma

आओ GST सीखें: 1. The Offline tool comes bundled with MS Excel Template and a java tool. This Excel workbook template has 11 data entry worksheets, 1 master sheet and 1 Help Instruction sheet i.e. total 13 worksheets. The 11 data entry worksheets are named: b2b, b2cl, b2cs, cdnr, cdnur exp, at, atadj, exemp, hsn and doc in which day-to-day business transaction required to be reported in GSTR 1 can be recorded or entered by the taxpayers. At desired interval, the data entered in the MS-Excel worksheet can be uploaded on the GST Portal using the java offline tool which will import the data from excel workbook and convert the same into a Json file which is understood by GST portal. (www.gst.gov.in) 2. It has been designed to enable taxpayers to prepare GSTR 1 in offline mode (without Internet). It can also be used to carry out bulk upload of invoice/other details to GST portal. 3. The appearance and functionalities of the Offline tool screens are similar to that of the return

With each passing day, India seems to be marching towards the Goods and Services Tax (GST) slated for introduction from July 1, 2017. There are still several areas of doubt for taxpayers on the overall law and its implementation, and the ‘Anti-Profiteering Provision’ seems to be at the forefront of things.  What is the Anti-Profiteering Provision? The Central GST law, as passed by the Parliament, contains an antiprofiteering clause that mandates the manufacturer and others in the supply chain to pass on the benefits arising during the transition phase from current tax regime to GST regime, to the consumers: Globally, Australia is said to be the first country to introduce Anti-Profiteering Provision during GST introduction in the year 2000, followed by Malaysia in the year 2015. Though there are no empirical studies to prove its benefits, the Government appears to be inclined to experiment with these provisions in India as well. The provision in the Central GST Act – Section 171, ma

आओ GST सीखें: Though India moved to the new indirect tax regime, i.e., the Goods and Services Tax (GST) only on July 1st, it will be charged from the consumers on bill payment for credit card, telephone or any other service consumed in June if the invoice for the same has been generated or payment made in July. “Supposing your billing cycle ended on June 25, invoice was generated on July 10 and payment was not made in advance. So when you issue invoice the liability is of GST because under law the date of providing of service is the date of issue of invoice,” Upender Gupta, Commissioner (GST), CBEC, said. Under GST, the modal rate for services is 18 per cent as against 15 per cent service tax earlier, though input tax credit is being provided on goods being used for supply of services. Under existing rules, service tax is levied on the date of issue of invoice or date of making of payment, whichever is earlier. Invoice for services has to be generated within 30 days of providing th

GST provisions for transporters: at a glance: पार्सल बुकिंग करने वाले ट्रांसपोर्टर्स के लिए GST संबंधित सूचना ------------------------------- 1) ट्रांसपोर्टरों (GTA-Goods Transport Agency) को GST से अलग कर दिया गया है हमे कही भी रजिस्टर कराने की कोई जरूरत नही है। 2) GST के अंतर्गत फुल लोड और पार्सल बुकिंग करने वाले ट्रांस्पोर्ट्स में कोई फर्क नहीं है, दोनों ही GTA की श्रेणी में आते है। 3) अगर कोई पार्टी interstate(दो राज्यो के बीच) माल माँगाती है और वह unregistered  है  तो उसको GST में register होना अनिवार्य है, तभी माल बुक होगा। 4) ट्रांसपोर्ट भाड़े पर लगने वाला 5%GST को हमे न बिल्टी में लगाना है ना पार्टी से लेना है यह पार्टी (consigner या consignee) में से किसी एक को directly GST डिपार्टमेंट में जमा करवाना है।इसकी अधिक जानकारी के लिए पार्टी को अपने CA अथवा GST कंसलटेंट से सलाह करनी चाइये। 5) माल बुकिंग से पहले यह चेक करले की consigner ओर consignee का GST नंबर invoice पर लिखा है की नही, यदि दोनों में से किसी एक का भी GSTIN No नही है तो माल को बुक न करें। consignor और consingee

ज्वेलरी व्यवसाय के लिये GST के कुछ महत्वपूर्ण जानकारी: 1. *How to prepare Bill* जब भी एक रजिस्टर्ड जेवेल्लेर  आभूषण एक रजिस्टर्ड जेवेल्लेर या रिटेल ग्राहक को  बेचता है तब उसे मेकिंग चार्ज बिल में अलग नहीं दिखाना हे। मेकिंग चार्ज का अमाउंट गोल्ड की रेट में ही जोड़ देना है और पूर्ण अमाउंट पर सिर्फ 3% GST लगाना होगा। 2. *Making charge*  जब रजिस्टर्ड जेवेल्लेर एक रजिस्टर्ड  कारीगर को आभूषण बनाने के लिए मॉल देता है , उसे जॉब वर्क कहते हे। क्योंकि कारीगर  रजिस्टर्ड हे इसलिए वह जेवेल्लेर से  मेकिंग चार्ज पर 5% GST वसूल करेगा। 3.  *Reverse charge*जब रेजिस्टर्स जेवेल्लेर  एक कारीगर जो की GST में रजिस्टर्ड नहीं है , उसे आभूषण बनाने के लिए माल देता है तब भी वह जॉब वर्क की श्रेणी में आता है। क्योंकि कारीगर रजिस्टर्ड नहीं है इसलिए कारीगर के मेकिंग चार्ज पर जेवेल्लेर को 5% GST रिवर्स चार्ज के अंतर्गत भरना पड़ेगा। 4. *Exchange of Bullion/ jewellery* यदि रिटेल ग्राहक ने  साल 2012 में 20000 की ज्वेलरी या बुलियन ख़रीदा हे और उसकी आज की कीमत 100000 है और वह यह ज्वेलरी/बुलियन एक्सचेंज करा कर 140000 की नय

BALANCE SHEET FINALISATION CHECKLIST: Given below is the checklist for finalisation of Balance sheet hope this will help you for sure in finalising the balancesheet of all organisations. Must check the following things before finalising . 1. No Entry On National Holiday. 2. Confirmation of Secured Loans. 3. Confirmation of Unsecured Loans. 4. Confirmation of S.Creditors (Specialy Those With Debit Balance.) 5. Confirmation of S.Debtors (Specialy Those With Credit Balance) 6. Bonus Sheet To Be Tallied With Bonus Paid In Cash And By Cheque. 7. Check Cash For Negative Balance. 8. Electricity Charges For 12 Months Entered Or Not. 9. Salary Sheet – Tally With Salary Paid In Cash+Cheque. Salary of Employees Who Have Not Signed Salary Sheet Should Reflect As Payable. Tally With Salary Summary For Whole Year. 10. Copy of All Full & Final A/C Papers Required. 11. Insurance Exp. – Pre-Paid Entries To Be Done. Copy of All Cover Notes To Be Kept In Balance Sheet File. 12. Other Pre

आओ GST सीखें: 1. Get Complete your working for Closing Stock for the period 31.3.2017 / 30.6.2017 before GST Implementation date. Also make separate details for thosestock which are purchased against excise invoice. 2. Allocate such stock into quantative mode. 3. Get the A/c Statement from your Suppliers / Creditors for the year ended 31/3/2017 & compiled them from your books. 4. Rectify Mismatch Reports of Purchases , if persists. 5. Revise your Vat Returns if point no.4 applies to you. 6. Make strict follow-up to Collect all the C forms/H Form/ I forms . 7. Get your Books Finalise for FY 2016-17. So that on the basis of finalized books working upto 30.06.2017 can be done on finalized accounts. 8. Make a separate file of those items which are shown in your stock as on 30.6.2017 e.g. Purchase Bills/ Bill of Entry/ Excise Paying Documents etc. 9. Stock ageing be made to ascertain if any stock is more than 1 year old. If yes then dispose it off immediately or sell it to your

आओ GST सीखें: क्या आप जानते हैं कि reverse charge वाला provision उन एकाउंटेंट्स के लिए सिर दर्द बन कर आया है जो अपना काम समय पर नहीं करते। Profit and loss account के ज्यादातर आइटम्स पर रिवर्स चार्ज में GST लगेगा अगर एक दिन में 5000 रुपये वाली लिमिट cross की तो। अब हर उस client के एकाउंट्स हर महीने के अंत में final करने होंगे जिसने GST ले रखा है। जी हाँ आपने सही सुना। अब ढीले ढाले अकाउंटेंट का जमाना गया। अगर ऐसा नहीं किया तो reverse charge में हर महीने GST pay नहीं हो पायेगा। इसका मतलब या तो इनकम टैक्स का खर्चा नहीं या फिर GST में Reverse Charge pay ना करने की penalty! यहां आपकी सुविधा के लिए एक लिस्ट तैयार की है, जो ऐसे कुछ आइटम्स को दिखाती है। Exceptions: Salary and wages Electricity Interest Car fuel Government Fees Inclusions: Rent Commission payments Printing and stationery Repairs and Maintenance Office Maintenance Vehicle maintenance Computer maintenance Legal Fees Consultancy Fees Professional Fees Audit Fees Labour charges Frieght and transportation e

आओ GST सीखें: 📒 Composition Scheme Under GST ⛳ A registered person, whose aggregate turnover in the preceding FY doesn’t exceed Rs. 75 Lakhs may opt for Composition Scheme and pay tax. ⛳ It would be applicable for all transactions under the same PAN-India bases. ⛳ Composition taxable person shall not be eligible for any Input tax credit. ⛳ CTP shall not collect any tax on supply. ⛳ CTP will issue Bill of Supply instead of Tax Invoice. ⛳ CTP is liable to pay tax on receipts of goods or services from un-registered person. ⛳ CTP is liable to pay tax on receipts of services under RCM. ⛳ No ITC allowed for taxed paid under reverse charge. ⛳ Persons not eligible: 🌴 Effecting inter-state outward supplies. 🌴 Making supply of exempted goods. 🌴 Engaged in supply of any other service except food/restaurant services. 🌴 Making any supply of goods through an e-commerce operator. 🌴 Manufacturer of notified goods. ⛳ The Registered person paying tax under composition scheme is req