Indian GST & TAXES

GST meeting held on 22nd December 2019 many matters Discussed Is a January luck to the small and composition Dealsers ?????? After taking many Decisions on GST and Rates To be changed 18%to 12% In January 2019 GST meeting to be held on major Decisions will be taken on Next meeting Major Decisions will be taking on (MSME) small and medium scale Bussiness

TDS CONCEPT IN GST TDS under GST are introduced in order to regulate unorganized sectors in the market. We are providing all the information related to the procedure and criteria for TDS under GST. It may be noted that as per the notification issued by the government on 26th June 2017, the provisions of TDS has been put on hold and it will come into force from a date which will be communicated later. Deductor of TDS under GST (a) Department or establishment of the Central or State Government, or (b) Local authority, or (c) Governmental agencies, or (d) such persons or category of persons as may be notified, by the Central or a State Government on the recommendations of the Council. Rate of TDS under GST For intra-state supply, the deductor is required to deduct tax at the rate of 2% (CGST 1% + SGST 1%). And in the case of interstate supplies, 2% (IGST) from the payment made or credited to the supplier of taxable goods and/or services. Value of supply f

Procedure for Filing Revised TDS Return If you find any mistake in filling of the eTDS or want to make any modifications like changing the name, address, challan serial no., BSR code, challan tender date, etc, you can correct your form in simple steps. However, before going through the steps, there is something you should know: Update deductor details such as Name, Address of Deductor. This type of correction is known as C1 Update challan details such as challan serial no., BSR code, challan tender date, challan amounts etc. This type of correction is known as C2. Update/delete /add deductee details. This type of correction is known as C3. Add/delete salary detail records. This type of correction is known as C4. Update PAN of the deductee or employee in deductee/salary details. This type of correction is known as C5. Add a new challan and underlying deductees. This type of correction is known as C9. Cancel accepted statement. This type of correction is known as Y. Cancellati

The Central Board of Indirect Taxes and Customs (CBIC) has extended the due date for filing of GST Audit reports in forms GSTR-9, GSTR-A and GSTR-9C FORM GSTR-9 and FORM GSTR-9A have been notified vide notification No. 39/2018-Central Tax, dated 04.09.2018 while FORM GSTR-9C has been notified vide notification no. 49/2018-Central Tax, dated 13.09.2018 as part of the CGST Rules. The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C till 31st March, 2019. The requisite FORMs shall be made available on the GST common portal shortly. Relevant order is being issued, the CBIC said last day.

What is GSTR 2A? GSTR 2A is a purchase-related tax return that is automatically generated for each business by the GST portal. When a seller files his GSTR-1, the information is captured in GSTR 2A.   It takes information of  goods and/or services which have been purchased in a given month  from the seller’s  GSTR-1 . You are required to verify (and amend) this return before filing in on GST Portal. GSTR 2A will be auto-populated from the following returns of the sellers/counterparty- Return Filed by GSTR 1 Regular registered seller GSTR-5 Non-resident GSTR 6 Input Service Distributor GSTR 7 Person liable to deduct TDS GSTR 8 Ecommerce How is GSTR 2A different from GSTR-2? GSTR 2A is an auto-generated read only document which is for information purpose only. GSTR-2 is an official return which must be filed and it will have the same information as GSTR-2A. But  GSTR-2  can be edited. How to file GSTR-2A? You don’t have to file GSTR-2A. GSTR-2A is a read