Kabi Associates

06/12/2024

https://youtu.be/UA6YLbAeX8E?si=Pi2loxaayaUx-MzD

Recipient’s ITC cannot be denied in case supplier becomes non-existent or his registration cancelled retrospectivelyJune 22, 2023 ...

06/12/2024

https://youtu.be/GCwwu9KnLH8?si=mSpnflPItNVYC9cx

No Denial of GST Credit if Supplier is Non Existent or his registration cancelled || CA (Adv) Bimal Jain🔰 For Complete Judgement: https://www.a2ztaxcorp.com...

05/10/2022

03/10/2022

Happy Asthami at Kolkata, at Behala

31/08/2022

Shree Shree Ganeshji Maharaj ki
puja

31/08/2022

12/10/2017

GST council meeting update :

1. Persons having turnover below 1.5 crores will have to now file returns on quarterly basis as well as pay taxes on quarterly basis. It will apply from 3rd qtr

*Till Dec 17 Form 3B to be filled by all dealers.*

*Persons having more than 1.50 crore turnover , who have purchased from small dealer have to fill manually all those entry in form 2.*

2. Council agreed in principle that Rate for restaurants is to be decreased to 12%. Committee if ministers will deliberate on this and give its suggestions in the next meeting to held on 9-10 November- 2 suggestion are in the works -

A. Reduce the rate to 12% (without credits) for all restaurants
B. Reduce the rate to 12% for non AC restaurants only

3. E-way bills deferred to April 2018

4. Inter-state supply of services exempted up to 20 lacs

5. Works contract having large labour content - rate reduced to 5% but without credit overflow

6. Composition scheme limit increased from 75 lacs to 1 crore

7. Refunds to exporters will be processed manually starting Oct 10.

8. Pre GST benefits reinstated for exporters till march 18. some more reliefs to exporters have also been decided upon - details awaited

9. Rates of many goods have been reduced.

10. Reverse charge *(only unregistered purchase case I.e. sec 9(4))* mechanism deferred upto 31st March.

Next meeting of the council will take place in Gauhati on 9-10 November.

Regards,
CA Lalit Aggarwal,
Team connecting CAs

12/10/2017

*GST Alert*

*File your GSTR-1 today else Minimum Penalty could be Rs. 4,200/-.*

Extended last due date for GSTR-1 is today i.e. 10.10.2017. GSTR-1 cannot be filed from 11.10.17 to 31.10.2017 as window to file GSTR-2 will open. GSTR-3 filing will start from 01.11.2017 and therefore GSTR-1, if missed, can be filed from 01.11.2017.

Total delay would be of 21 days
Per day Penalty is Rs. 200/- per day (Rs. 100/- CGST & Rs. 100/- SGST)

Total Penalty would be Rs. 4,200/-.

12/10/2017

[06/10, 8:36 p.m.] Sriniwasn Rao Hyd, Advocate: * Exporters to get IGST relief for 6 months

* SMEs with annual turnover of Rs 1.5 crore will be allowed to file quarterly returns

GST Council Meeting LIVE:

* E-wallet gateway will be developed and introduced after six months

* In-principle decision to bring down the rate for AC restaurants to 12 percent

* PAN card will not be needed for jewellery purchases above Rs 50,000
[06/10, 8:36 p.m.] Sriniwasn Rao Hyd, Advocate: *GST MEETING LIVE*

* Exporters to get IGST relief for 6 months

* SMEs with annual turnover of Rs 1.5 crore will be allowed to file quarterly returns

* E-wallet gateway will be developed and introduced after six months

* In-principle decision to bring down the rate for AC restaurants to 12 percent

* PAN card will not be needed for jewellery purchases above Rs 50,000

23/09/2017

The major highlights of the *21st council meeting* are as under:

*Extension in GSTR filing dates*-

1. The last date for filing of sales return or *GSTR-1* has been extended by a month to *October 10* instead of September 10 earlier.

2. The deadline for *GSTR-3B*—a self-declaration form—have been extended by four months i.e. GSTR 3B need to be filed *till December* month for collecting Payments.

3. Last date for filing *GSTR 2* for July has been extended to *31st Oct*

4. Last date for filing *GSTR 3 for July* has been extended to *10th Nov*

5. *No Schedule* now for *GSTR 1, 2 & 3 for August* onwards. To be announced later.

6. Last date for filing *TRAN 1* extended upto *31st Oct 2017*. TRAN 1 filed earlier can be revised.

*Other Decisions*

1. *Handicraft artisans* with annual earnings of upto Rs 20 lakh will not require GST registration.

2. The governement decided to *form a 3-member inter-ministerial team* to look at the functioning of GSTN to address issues faced by users while uploading GST returns.

3. The Council discussed tax rates of *134 items, including unbranded food* products.

4. Businesses selling branded food are deregistering their brands to evade tax as unbranded food is not taxed. The fitment committee proposed to the GST Council to consider *May 15, 2017, as the cut-off date for considering a brand as registered for the purpose of levy of GST,* irrespective of whether or not the brand is subsequently deregistered.

Regards,

22/09/2017

dear friends...any query about the GST act, Rules, pls post your question. i will give the reply to all.