Gst Migration/registration and Income Tax Returns

22/05/2026

Aree Baaee Gobind Naam 😇
ਅਰੀ ਬਾਈ ਗੋਬਿਦ ਨਾਮੁ ਮਤਿ ਬੀਸਰੈ ॥ ਰਹਾਉੁ ॥

Aree Baaee Gobidh Naam Math Beesarai ||

O sister do not ever forget the Name of the Master of the world.


[Gurudwara, Kirtan, Shabad, Damandeep, Original, Waheguru, Peace, Composer, Trending, Simran]

02/05/2026

Kar Kirpa Tere Gun Gawa 🙏

ਕਰਿ ਕਿਰਪਾ ਤੇਰੇ ਗੁਣ ਗਾਵਾ ॥

Kar Kirapaa Thaerae Gun Gaavaa ||

Have mercy on me, that I may sing Thy praise.

ਨਾਨਕ ਨਾਮੁ ਜਪਤ ਸੁਖੁ ਪਾਵਾ ॥੪॥੫॥

Naanak Naam Japath Sukh Paavaa.

[Gurbani, Simran, Waheguru, Shabad, Original, Viral, Blessings, Damandeep, Gurudwara, Explorepage, Trending]

15/03/2020

Key takeaways on today’s GST Council Meeting –
1. *Interest* to be charged on *Net Cash Liability* (retrospective amendment from 01.07.2017)
2. Existing filing of GSTR-3B and GSTR-1 to be continued to *30.09.2020.*
3. *Relaxation for filing of GSTR-9C (Reconciliation Statement)* for the *FY 2018-19* upto aggregate turnover of *Rs. 5 crores.*
4. Due date for filing the *GSTR-9 and GSTR-9C for FY 2018-19* to be extended to *30.06.2020.*
5. *Late fees* to be waived for delayed filing of *GSTR-9 and GSTR-9C *for *FY 2017-18 and 2018-19* for taxpayers with* aggregate turnover less than Rs. 2 crores.*
6. *One time measure* proposed for filing of application for *revocation of cancellation of registration* up to *30.06.2020* (applicable to cancelled registration till 14.03.2020).
7. For FY 2019-20, *requirement of filing of GSTR-1 to be waived off* for the persons who could not opt for *special composition scheme* under notification No. 2/2019-CT (Rate) (in form CMP-02).
8. Approval given for “Know your Supplier” scheme.
9. Dates for implementation of *e-invoicing and QR Code* to be extended to *01.10.2020.*
10. Extension of the time to finalize *e-Wallet scheme* up to *31.03.2021.*
11. Extension of the present exemptions from IGST and Cess on the imports made under the AA/EPCG/EOU schemes up to 31.03.2021.
12. Allow for refund to be sanctioned in both cash and credit in case of excess payment of tax.

03/08/2019

Central GST Delhi North Commissionerate has busted a racket of issuance of fake invoices without actual supply of goods and services.


Central GST Delhi North Commissionerate has busted a racket of issuance of fake invoices without actual supply of goods and services. Two individuals – Asrar Akhtar and Vikas Singh have been arrested in this matter and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts. The accused and their associates were found to be operating 19 fake firms created to facilitate fraudulent Input Tax Credit (ITC), thus defrauding the Exchequer. Prima facie fraudulent ITC of about Rs 25 crores has been detected to have been passed on using invoices involving an amount of Rs 137 crores.

The modus operandi of these individuals and their associates Sabban Ahmed and Arif, inter alia, involved issuance of fake invoices of firms registered across Delhi NCR from a premise in Azadpur, Delhi. Voluminous incriminating documents such as fake invoices, diaries, letter-heads, rubber stamps of fake firms, cheque books, transporter’s consignment notes as well as electronic devices have been recovered. Investigations are underway to identify other individuals and firms involved in this racket.

The accused have committed offences under the provisions of Section 132(1)(b) of the CGST Act 2017, which are cognizable and non-bailable under Section 132(5) and punishable under Section 132(1)(i) of the said Act. Accordingly, Asrar Akhtar and Vikas Singh were arrested on 01.08.19 and have been remanded to judicial custody for 14 days on 02.08.2019.

15/03/2019

01/02/2019

HIGHLIGHTS OF BUDGET 2019

*Tax*
1. Within 2 years, Tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central Govt.
4. Custom duty has abolished from 36 Capital Goods
5. Recommendations to GST council for reducing GST rates for home buyers
6. *Full Tax rebate upto 5 lakh annual income after all deductions.*
7. Standard deduction has increase from 40000 to 50000
8. Exempt on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000
10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000
11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB has increased to one more year i.e. 2020
13. Benefit has given to unsold inventory has increased to one year to two years.
*Other Areas*
14. State share has increased to 42%
15. PCA restriction has abolished from 3 major banks
16. 2 lakhs seats will increase for the reservation of 10%
17. 60000 crores for manrega
18. 1.7 Lakh crore to ensure food for all
19. 22nd AIIMS has to be opened in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments
22. National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs
26. Bonus will be applicable for workers earning 21000 monthly
27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crores free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leaves to empower the women
31. More than 3 Lakhs crores for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of India film makers

14/01/2019

Capital gain exemption available towards plot purchase prior to sale of property,

In a very interesting case of Gandraju Prabhavati vs Pr. Commissioner of Income Tax-1, ITAT Visakhapatnam held that even if plot was purchased prior to sale of property, exemption will be admissible u/s 54 if construction over the house property is completed within the time frame provided in Section 54. Submission by the assessee was accepted upheld by ITAT and it was concluded that benefit u/s 54 can never be denied to the assessee as the intention of the legislature was to encourage housing in the country and that she has acquired and constructed the property within 3 years.

01/09/2018

Stupendous growth in the no. of returns e-filed by persons availing benefit of Presumptive Tax, with 1.17 crore returns having been filed upto 31st Aug,2018 compared to 14.93 lakh returns upto 31st Aug,2017 registering a massive increase of 681.69%.

22/08/2018

*MCA has extended the last date of filing DIR -3KYC without any filing fees upto 15/09/2018* from 31/08/2018. The fees of ₹5,000/- shall be applicable & payable on all delayed filings w.e.f 16/09/2018.

Regards

CA Damandeep Singh