Gupta & Malhotra, Chartered Accountants

03/10/2018

सब घबरा रहे हैं कि क्या सरकार ने अब GST में TDS रूपी नया compliance तो कहीं उन पर थोप तो नहीं दिया।

रोज़ बहुत सारे फ़ोन आने शुरू हो चुके हैं।

दोस्तों घबराएं मत, GST में TDS के प्रावधान सबके लिए नहीं हैं।

ये केवल कुछ लोगों पर एप्लीकेबल हैं। सरल आम लोगों के शब्दों में यह कह सकते हैं कि ये सरकारी या उसके जैसी संस्था पर ही लागू होगी।

Section 51 के अनुसार कुछ entity 2% GST TDS काट कर पेमेंट करेगी अगर टोटल basic contract amount 250000 से ज़्यादा है तो।

आओ GST में TDS के प्रावधानों के 10 सवालों का पोस्टमार्टम करें।

1. TDS किसको काटना है :
---------------------------

(a) a department or establishment of the Central Government 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 Government on the recommendations of the Council

अभी तक निम्न persons को नोटिफाई किया गया है:

Persons notified vide Notification No. 33/2017 – Central Tax
(a) an authority or a board or any other body, –
(i) set up by an Act of Parliament or a State Legislature; or
(ii) established by any Government,
with fifty-one percent or more participation by way of equity or control, to carry out any function;
(b) society established by the Central Government or the State Government or a Local Authority under the Societies Registration Act, 1860 (21 of 1860);
(c) public sector undertakings

इसका मतलब ये है कि अगर आप उपरोक्त में से किसी में fall करते हो तो ही आपको TDS काटना है।

शब्दों में अगर आप उपरोक्त में से किसी को गुड्स या सर्विसेज की सप्लाई करते हो तो ही वह आपका TDS काटेगा, अन्यथा नहीं।

2. किस लिमिट से ऊपर TDS?:
----------------------------------
जब कॉन्ट्रैक्ट की total basic value 250000 से ज्यादा होगी, तभी TDS काटने की liability आएगी

3. किस Value पर TDS:
--------------------------

Basic value (SGST/CGST/IGST से पहले) पर ही TDS कटेगा।

4. TDS किस रेट से कटेगा?
----------------------------

लोकल सप्लाई के लिए SGST 1% औऱ CGST 1% तथा inter state सप्लाई पर 2%

5. TDS कब काटना है:
-------------------------------

बिल की पेमेंट के टाइम पर

6. TDS काट कर कब तक जमा करना है?:
-------------------------------------------------------

जिस महीने TDS काटा है, उस से अगले महीने की 10 तारीख तक।

अगर 10 तक जमा नहीं करवाया तो 18% p. a. के हिसाब से ब्याज देना पड़ेगा।

7. GST में TDS की Return:
----------------------------------------
GST में TDS की monthly return अगले माह की 10 तारीख तक GSTR 7 form में भरनी होगी।

8. TDS certificate issue करने का दायित्व:
----------------------------------------------------
TDS जमा करने के 5 दिनों के अंदर GSTR-7A के रूप में TDS certificate issue करने हैं। अगर नहीं किये तो 100 रुपये प्रति दिन (maximum 5000 रुपये की) की penalty लगेगी।

9. क्या इसका कोई अलग रजिस्ट्रेशन होगा?:
-------------------------------------------------------

हाँ बिल्कुल ऊपर लिखित persons को इसका अलग रजिस्ट्रेशन लेना होगा। इस रजिस्ट्रेशन के लिए इनकम टैक्स के TAN जरूरी होगा।

10. Supplier क्या करेगा अगर उसका TDS कटा?:
----------------------------------------------------------

TDS return फ़ाइल होने के बाद टैक्स का पैसा सप्लायर के Electronic cash ledger में रिफ्लेक्ट हो जाएगा और सप्लायर इसका इस्तेमाल अपनी अन्य GST पेमेंट को ऑफ सेट करने के लिए कर पायेगा।

उम्मीद है आपको अब TDS से संबंधित बेसिक प्रावधानों का ज्ञान हो गया होगा।

24/09/2018

CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to15th Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018,after considering representations from stakeholders. Liability to pay interest u/s234A of ITAct will remain

20/08/2018

Error while filing Gstr 3b

The issue got resolved
If you refresh the pages 5-6 times, the saving happens and then the filings
Thank you so much for your help!😊

01/08/2018

*Important Interpretation of Sec 234F :*

*Penalty for late filing of ITR - Rs.1000/5000/10000/-*

1. Even if u r claiming refund in ur income tax return, u need to pay the penalty fees in cash & there is no provision for setting off this with ur TDS credit...

2. One can't escape from this penalty by filing *Nil Return...*

So, kindly file ur ITRs before 31.07.2018..

Also, note that *CBDT has already clarified that there will not be any extension in the above due dates as per their Circular No. 4/2018 dt. 21.07.2018..*

26/07/2018

26/07/2018

*KYC of Directors*

Dear Sir/Madam,

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through the new eform viz. DIR-3 KYC. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in 'Approved' status, would be mandatorily required to file form DIR-3 KYC on or before 31st August, 2018. While filing the form, the Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password (OTP). The form should be filed by every Director using his own DSC(Class 2) and should be duly certified by a practicing professional (CA/CS/CMA). Filing of DIR-3 KYC would be mandatory for disqualified Directors also.

After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as 'Deactivated' with reason as 'Non-filing of DIR-3 KYC'. After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken.

Regards,Ministry Of Corporate Affairs

25/07/2018

*Delhi HC directs IT Dept to enable Online Filing of Returns without Aadhaar* [Read Order]

Read more at:

The Delhi High Court last day directed the income tax department to enable filing of IT returns electronically without linking with Aadhaar. The bench comp

24/07/2018

*Tax Audit 3CD Revised!*

_*6 Amendments + 9 Insertions = Total 15 Changes*_

*Summary of Amendments:*

1. *4* - GSTIN to be mentioned.

2. *19* - Allowance under Section 32AD is to be reported.

3. *24* - Deemed gains under Section 32AD to be reported.

4. *26* - Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) is to be reported.

5. *31* - *Cash receipts more than INR 2,00,000 under Section 269ST is to be reported now.*

6. *34* - *Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be mentioned.*

*Summary of Insertions:*

1. *29A* - *Advance received on capital asset forfeited to be reported here {Section 56(2)(ix)}.*

2. *29B* - Income of gifts exceeding INR 50,000 to be reported here {Section 56(2)(x)}.

3. *30A* - Details about "Primary Adjustments" in transfer pricing to be reported here as per Section 92CE.

4. *30B* - Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.

5. *30C* - Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.

6. *36A* - *Dividend received under Section 2(22)(e) is required to be reported here.*

7. *42* - Details w.r.t. Form 61 (details of no PAN Form 60 received), Form 61A (SFT) and Form 61B (SRA) is to be provided here.

8. *43* - *Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.*

9. *44* - *BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.*

*Notification 33/2018 dated 20.07.2018 (effective from 20.08.2018).*

23/07/2018

CBDT amended Tax Audit Report in Form 3CD from 20-8-2018. Important clauses are as follows

1. Secondary adjustments u/s 92CE

2. Interest reduction u/s 94B

3. GAAR

4. Section 56(2)(x)

5. Deemed dividend u/s 2(22)(e)

6. Compliance under section 269ST

7. Compliance of FORM 61 or 61A or 61B

8. *Total expenses of entities registered or not under GST*

23/07/2018

CBDT releases revised Form 3CD..
https://studycafe.in/2018/07/cbdt-releases-revised-form-3cd.html

Amendment to Form 3CD announced . Item 44 on gst reconciliation is devastating.
Changes effective from 20/8/2018. So complete filing.

CBDT releases revised Form 3CD for FY 17-18 | AY 18-19, Below is the notification amending Tax Audit form of Income Tax, Form 3 CD