DB Consultancy group

24/05/2019

Now we are able to file Income Tax Return for FY 2018-19.

Wedding planner

02/02/2018

Quick Updates on Budget 2018:
100% deduction of income for Producer Companies.
2 New Planning & Architectural School and 18 inclusive Planning & Architectural School in IITs & NITs.
National Health Protection Schemes cover enhanced to Rs. 5 Lakhs.
Online loan sanctioning process for MSMEs and Bill Discounting finance by leveraging GSTN.
Special taxation structure for Venture Capital Funds and Angel Investors.
For first three years of women employee, EPF contribution is reduced to 8%, Employer Contribution to remain same at 10%/12%.
Reforms will be done in Stamp Duty Laws for Stamp Duty on securities.
Jaitley reiterates, cryptocurrencies are not legal in India.
Blockchain technology will be used for various government projects.
Unique ID will be issued to each enterprise in the same manner as Adhar Number issued to each individual.
New India Assurance Company Ltd., United India Insurance Co. Ltd., National Insurance Co. Ltd., and Oriental Insurance Co. Ltd. will be merged in one company and will be listed on stock exchange.
Presumptive taxation for Business Rs.2 Crore and for Professionals with turnover less than Rs.50 Lakhs
In case of real estate transaction, if the shortfall in circle rate is not more than consideration amount, circle rate can be considered for calculating LTCG.
Reduced corporate tax rate of 25% for companies with a turnover of up to Rs. 250 crore in the year 2015-2016.
NO CHANGE IN TAX SLABS FOR INDIVIDUALS.
Standard Deduction for Salaried Individuals of Rs.40,000/-.
Exemption on interest on fixed deposit for senior citizens increased to Rs.50,000/-, not TDS has to be done on such income by the financial institutions.
80D deduction for Senior Citizen increased to Rs.50,000/-.
Medical expenses deduction for senior citizens increased to Rs.1,00,000/-.
Exemption from LTCG to nonresident trading in IIFC and reduced Alternative Minimum Tax of 15% to resident trading in IIFC.
Cash payment now allowed up to Rs.10,000/- by businesses.
30% amount of expenses not allowed in case TDS is not done on such expenses.
LTCG above Rs.1,00,000/- after 31st January 2018 shall be taxed at 10% without indexation benefit.
Dividend received from ELSS and Dividend fund will be taxed at 15%.
Custome duty on Mobile Phone increased to 20%.
Central Board of Excise and Customs to be renamed as Central Board of InDirect Taxes and Customs.

24/01/2018

Dear All,

Please note the E-Way bill will be implementing from 01-02-2018 in all over India.

* some important points of E-Way Bill *

Q-1> Who is responsible for E-way Bill ?
Ans.: The responsibility for E-way Bill is :

Ist – The Supplier

IInd – The receiver

IIIrd – the Registered person if Purchase or sale from a Un-Registered Person/dealer

Q-2> what type of supply is cover under E-Way Bill
Ans.: All types of movements of Goods are Covered under E-Way Bill. Including Rejection, Sale Return, Repair and Maintance and Job Work or material send for Job Work with A Delivery Challan. The approx Value will have to be shown on Delivery Challan of Job work and E-way Bill to be made for this Challan.

Q-3> what Amount is cover under E-Way Bill ?
Ans.: Material value up to Rs. 50000/- is not covered under E-way Bill. If the total Value of material when loaded in a single vehicle is more than 50000/- E-way bill will have to be generated by the Transporter.

Q-4> How Many part file in E-way Bill ?
Ans.: There is 2 part of E-way bill, it’s A and B. in part A ,we fill the detail of Goods receiver , items detail and Value of Goods. And Part B is Column of Transporter detail ,mean Transport name, vehicle number, and GR number.

Q-5> What is the limit to fill in Part B of E-way Bill?
Ans.: If the material Dispatch less than 10 km, through hand delivery or Rickshaw part B will not be required.

Q-6> What is the Identity of Goods in E-way Bill?
Ans.: The Goods will be Identified with the HSN Code shown is E-way Bill.

Q-7> Any Printout of E-way bill need with the Invoice of Goods?
Ans.: No Printout need with the Invoice of Goods, show only number of E-way bill in front of Invoice.

Q-8> What is Consolidated E-way Bill ?
Ans.: consolidated E-way bill is generated when the transporter is carrying multiple consignments in a single vehicle. Consolidated E-Way allows the transporter to carry a single document ,instead of a separate document fo

04/01/2018

EVENT : GST GYAN : FREE OF COST
AT HAZARIBAG (JHARKHAND)

We are going to do a great & grand Event to help Traders and tax practitioners who is near by Hazaribag district jharkhand.
Regarding :-
- overview of GST.
- easy implementation of GST.
- GST registration
- GST return Filling
- And many more

For more details call or what's app on
08013613418

Plz
Share and tag with your friends
Who need of it.

10/12/2017

26 Forms for Registration prescribed-26 Forms for Registration have been prescribed (Form GST REG-01 to Form GST REG-26), 25 namely are as follows-

1 GST REG-01

Application for Registration under Section 19(1) of Goods and Services Tax Act

2 GST REG-02

Acknowledgement

3 GST REG-03

Notice for Seeking Additional Information/ Clarification/ Documents relating to Application for

4 GST REG-04

Application for filing clarification/additional information/ document for

5 GST REG-05

Order of Rejection of Application for

6 GST REG-06

Registration Certificate issued under Section 19(8A) of the Goods and Services Tax Act

7 GST REG-07

Application for Registration as Tax Deductor or Tax Collector at Source under Section 19(1) of the Goods and Service Tax Act,

8 GST REG-08

Order of Cancellation of Application for Registration as Tax Deductor or Tax Collector at Source under Section 21 of the Goods and Service Tax Act

9 GST REG-09

Application for Allotment of Unique ID to UN Bodies/Embassies /any other person under Section 19(6) of the Goods and Service Tax Act,

10 GST REG-10

Application for Registration for Non Resident Taxable Person.

11 GST REG-11

Application for Amendment in Particulars subsequent to Registration

12 GST REG-12

Order of Amendment of existing Registration

13 GST REG-13

Order of Allotment of Temporary Registration/ Suo Moto Registration

14 GST REG-14

Application for Cancellation of Registration under Goods and Services Tax Act

15 GST REG-15

Show Cause Notice for Cancellation of Registration

16 GST REG-16

Order for Cancellation of Registration

17 GST REG-17

Application for Revocation of Cancelled Registration under Goods and Services Act

18 GST REG-18

Order for Approval of Application for Revocation of C

11/11/2017

GST 23RD MEETING DECISION
Applicable of tax rate From 15th November , 2017

1.Filing of return for 3B will be continued till March. All tax payers will continue to file 3B till March 2018

2.Penalty on late filing. If there is a NIL report to be filed, then the fine for late filing will be reduced from Rs 200 per day to Rs 20 per day. And for other tax filers, the reduction will be from Rs 200 to Rs 50 per day.

3.Decides rate for traders & manufacturing under composition at 1%; No inter-state taxes & input tax credit for composition dealers

4 .Decides to raise composition scheme threshold to 2 crores

5. The finance minister confirms that all restaurants will come under the 5% tax bracket, irrespective of whether they are AC or non-AC. The restaurants, however, will not get benefit of Input Tax Credit. The decision has been taken because it was found that restaurants were not passing on benefits of ITC to customers. They were charging GST on previous rates and the burden was on the customer.

6. The only exception to the 5% tax rate would be restaurants in starred hotels that have room tariff of over Rs 7,500 per night. They would be taxed at 18%, like earlier. Outdoor catering will also be taxed at the old rate of 18%,

7.ALL TAX PAYER NEED TO FILE ONLY GSTR-1 FOR THE CURRRENT YEAR
Invoices for Nov, 2017 to be filed by Jan 10, 2018 Invoices for Dec, 2017 to be filed by Feb 10, 2018 Invoices for Jan 2018 to be filed by March 10, 2018

8.178 items have been moved from the 28% slab to the 18% slab. The new rate will be applicable from November 15. Construction related items like marble, flooring, etc. have also been put in the 185 tax slab. Only 50 goods will stay in the highest slab of 25%

30/10/2017

To facilitate trade, last date for filing GSTR-2 & GSTR-3 for July 2017 extended to 30th Nov & 11th Dec 2017 respectivel

07/10/2017

*Press Release Dated 06-10-2017 regarding 22nd GST Council Meeting Key Points*

1. *Composition Dealer*- Threshold Limit Increased to 1Cr from 75 Lac, and in notified state to 75Lac from 50Lac
2. *Composition Dealer Can Now Provide Exempt Services*- It has been decided that such persons who are otherwise eligible for availing the composition scheme and are providing any exempt service, shall be eligible for the composition scheme.
3. *Unregistered Service Provider having turnover upto 20 Lac* can now provide interstate taxable supplies of services
4. *Person having Turnover upto 1.5cr to file Quarterly Return and Pay Tax Quarterly*- starting from the Third Quarter of this Financial Year i.e. October-December, 2017.
5. *Reverse charge mechanism* under Section 9(4) of the CGST Act, 2017 and Section 5(4) of the IGST Act, 2017 shall be suspended till 31.03.2018.
6. *Tax on Advance Received*- Taxpayers having Turnover upto 1.5cr not required to pay tax on advance received for supply of Goods.
7. *GTA Service*-services provided by a GTA to an unregistered person shall be exempted from GST.
8. *Registration under TDS/TCS* and its operation is postponed till 31.03.2018.
9. *E-way bill system* shall be now operational from 01.04.2018
10. *Last date for filing the return in FORM GSTR-4 by Composition Dealer* for the quarter July-September, 2017 extended to 15.11.2017.
11. *Last date for filing the return in FORM GSTR-6 by Input Service Distributor* for the months of July, August and September, 2017 shall be extended to 15.11.2017.
12. *Invoice Rules* are being modified to provide relief to certain classes of registered persons.

18/09/2017

*Guidelines For Changing Email And Mobile Number Of Primary Authorized Signatories Mentioned At The Time Of Enrolment Or New Registration*

The steps which need to be followed by the user taxpayer for changing of email and mobile number: –

Step-1: Login to GST portal with your user id and password.

Step-2: Click on the registration bar and select the non-core amendment.

Step-3: Click on the authorized signatory tab.

Step-4: Add new authorized signatory whose email and mobile number user wants to use.

Step-5: Go to verification tab and submit the application.

Step-6: After submission of application please wait for some time ( 15 minutes).

Step-7: Login again with user id and password.

Step-8: Go to the authorized signatory tab – deselect the primary authorized signatory check box.

Step-9: Select the newly added authorized signatory as primary authorized signatory (Important: Older mobile and email id will be prefetched by the system. Please ensure to change the mobile and email id to which you want to add.)

Step-10: Go to the verification tab and submit,

[Note: For Company/LLP DSC will be allowed. For EVC submission, OTP will come on newly added email/mobile number]

Please follow the procure it might help to change mobile number and email I'd

13/09/2017

Penalty for not issuing taxable invoice

13/09/2017

Notice for not issuing taxable invoice

10/09/2017