February 2019 - TaxOnline24


Complete solution at a single window


Post Top Ad

Wednesday, 20 February 2019

Recent Changes In GST Portal

Wednesday, February 20, 2019 0

Recent Changes In GST Portal

1. Monthly Refund applications by Quarterly GSTR-1 filers

There was restriction for applying refund on quarterly basis for quarterly GSTR 1 filers.
This restriction has been removed now. 

Change - The tax payer can now file refund application on monthly basis, if GSTR 1 for the quarter is filed

2. Auto approval of Appeals filed by Taxpayer or Tax Department

Application for appeal has to be submitted by the Appellant (Tax payer or Tax Department) to the First Appellate Authority. The Appellant also needs to submit certified copies within 7 days from the date of application or within the time limit allowed. The Appellate Authority may either admit the appeal by issuing the final acknowledgement or reject the application.

Change - If Appellate Authority fails to issue final acknowledgement to the appellant within the stipulated time, then a system generated final acknowledgement will be issued to the appellant with a remark “subject to validation of certified copies”

3. List of Preferred Banks list while making Payment 

When a taxpayer will make payment of GST using a bank, it will be updated in the Preferred Banks list for that taxpayer.

Up to 6 Preferred Banks will be shown to a taxpayer while making e-Payment on GST Portal.

When a Taxpayer already having 6 banks in its preferred bank’s list, makes a payment with 7th bank, then that 7th bank will be added in the preferred banks and the least used bank will be removed from the list. 

The taxpayer can delete any of the preferred banks at any point in time.

4. Release of API related to Assessment and adjudication

Following API released
  1. Assessment of non-filers of Returns
  2. Summary Assessment
  3. Rectification of mistake

5. Removal of validation of 2% in Form GSTR-7

At the time of filing of Form GSTR-7, generally it is being checked automatically whether total amount deducted is 2% of the taxable value or not.

Change – Now this auto checking has been removed. TDS Deductor will be free to report any value under CGST, SGST or IGST columns.. Same is implemented in offline utility also.

6. Population of data from EWB system into Form GSTR-1  

At the time of generating E-way bill for outward supply, taxpayers enter the details of outward supplies such as invoice number, date, quantity, value, Tax, HSN code and Consignee GSTIN etc.

Change – Taxpayers can now easily import these details of outward supply invoices, as indicated in the eway bill, at the time of preparation of Form GSTR-1, by clicking the “import EWB Data” button, on the GST portal

On the GST portal, the “Import EWB Data” button has been added in the following titles of the Form GSTR-1 page
  1. 4A, 4B, 4C, 6B, 6C – B2B invoices
  2. A, 5B – B2C (Large) invoices
  3. 12 – HSN wise summary of outward supplies
Read More

Tuesday, 19 February 2019


Tuesday, February 19, 2019 0


Pan-Aadhaar linkage mandatory for filing income tax returns from AY 2019- 20: Union of India & others vs. Shreya Sen & others (SC)

CASE NO.-34292/2018 DATE -4.02.2019

Fact of the case

  1. Shreya Sen, a taxpayer is the assessee in the present case who submitted I.T Reurn for the assessment year 2018-19 without linking Aadhaar & PAN No.
  2. The revenue department appealed to the high court regarding the aforesaid problem.
  3. The High Court had permitted the respondents, Shreya Sen to file the Income Tax Return for the Assessment Year 2018-19 without linkage of their Aadhar and PAN numbers and it was also directed that the Income Tax Department would not insist on production of their number of Aadhar enrollment.
  4. The revenue department again appealed to the Supreme Court against the order passed by High Court.
Pan-Aadhaar Linkage Mandatory

Decision of the Case

The Supreme Court observed the following:-
  1. The High Court passed the order the when the aforesaid matter was pending consideration in the Supreme Court.
  2. Thereafter the Supreme Court passed the order to linkage PAN with Aadhaar mandatory.
  3. The respondents had already submitted I.T Return without linking Aadhaar as per direction of High Court and the assessment has also been completed. So it need not be implemented for the assessment year 2018-19.
  4. As per section 139AA inserted in the financial act 2017 to the Income Tax Act mandating quoting of Aadhaar or enrollment of ID of Aadhaar application form for filling of I.T Return.
  5. Two judges Bench of Supreme Court upheld the constitutional validity of the said provision & reversed the order of High Court allowing the tax payer to file I. T return without linking PAN with Aadhaar

pan Aadhar link online    Link Aadhaar


Source:- Tax Bulletin 34 of ICMAI

Section 139AA of Income Tax Act' 1961

Quoting of Aadhaar number.—
(1) Every person who is eligible to obtain Aadhaar number shall, on or after the 1st day of July, 2017, quote Aadhaar number—
          (i) in the application form for allotment of permanent account number;
          (ii) in the return of income:
Provided that where the person does not possess the Aadhaar Number, the Enrolment ID of Aadhaar application form issued to him at the time of enrolment shall be quoted in the application for permanent account number or, as the case may be, in the return of income furnished by him.

(2) Every person who has been allotted permanent account number as on the 1st day of July, 2017, and who is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to such authority in such form and manner as may be prescribed, on or before a date to be notified by the Central Government in the Official Gazette:

Provided that in case of failure to intimate the Aadhaar number, the permanent account number allotted to the person shall be deemed to be invalid and the other provisions of this Act shall apply, as if the person had not applied for allotment of permanent account number.

(3) The provisions of this section shall not apply to such person or class or classes of persons or any State or part of any State, as may be notified by the Central Government in this behalf, in the Official Gazette.

Explanation.—For the purposes of this section, the expressions—
        (i)"Aadhaar number", "Enrolment" and "resident" shall have the same meanings respectively assigned to them in clauses (a), (m) and (v) of section 2 of the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016 (18 of 2016);
         (ii)"Enrolment ID" means a 28 digit Enrolment Identification Number issued to a resident at the time of enrolment.'.

Read More

Friday, 15 February 2019

GST Audit

Friday, February 15, 2019

Type of GST Audit

GST Audit
GST Audit 

Types of Audit :-

1) Mandatory Audit :-
2) Audit by Tax Authorities :-
3) Special Audit :-

1) Mandatory Audit :-

In terms of Section 35(5) " Every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of the audited annual accounts, the reconciliation statement under sub section (2) of section 44 and such other documents in such form and manner as may be prescribed".

In terms of Rule 80(3) of the CGST Rules “every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in GSTR 9C, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner”.

2) Audit by Tax Authorities :-

Conduct of Audit :-
As per section 65 read with Rule 101 of CGST Rules, 2017 , commissioner or any officer authorised by him may conduct audit of any registered person for a financial year or multiples thereof.

Prior Notice :-
The registered person shall be informed by way of a notice not less than 15 working days prior to the conduct of audit in such manner as may be prescribed.

Time period for concluding audit :-
The audit shall be completed within a period of 3 months from the date of commencement of the audit.

However in case where commissioner is satisfied that audit can not be completed within 3 months then he may for the reasons to be recorded in writing, extend the period by a further period not exceeding 6 months.

" Commencement of audit " shall mean -
the date on which the records and other documents, called by the tax authorities are made available by the registered person, or the actual institution of audit at the place of business, whichever is later.

3) Special Audit :-

Conduct of Audit :-
As per section 66, any officer not below the rank of Assistant Commissioner with the prior approval of the Commissioner direct such registered person by a communication in writing to get his records including books of accounts examined.

Audit can be ordered if such officer at any stage of scrutiny, inquiry, investigation or any other proceedings before him having regard to the nature and complexity of the case and the interest of revenue, is of the opinion that the registered person has -

(i)  not correctly declared the value, or
(ii) availed credit which is not within the normal limits.

Audit to be conducted by a conducted by a Chartered Accountant or a Cost Accountant as may be nominated by the Commissioner.

Time period of Audit :-
The Chartered Accountant or a Cost Accountant so nominated shall within the period of 90 days submit a report of such audit signed and certified by him to the said Assistant Commissioner mentioning therein such other particulars as may be specified.

However the Assistant Commissioner may on an application made to him in this behalf by the registered person or the Chartered Accountant or a Cost Accountant for any material and sufficient reason, extend the said period by a further period of 90 days.

Accounts to be audited even already audited :-
The provisions of this section shall have effect notwithstanding that the accounts of the registered person have been audited under any other provisions of this act or any other law for the time being in force.

Read More

Tuesday, 5 February 2019

Important Due date Compliance Calendar for February 2019

Tuesday, February 05, 2019

Important Due date Compliance Calendar for February 2019

Important Due date Compliance Calendar for February 2019

Income tax Act, 1961
  • Due date for deposit of tax deducted /collected at source for the month of  January 2019.
  • All sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan.
  • Form or Challan : Form 24G

  • Due date for filing GSTR-7 (to be filed by the persons who is required to deduct TDS under GST for the for the month of  January 2019.
  • Due date for filing GSTR-8 (to be filed by the by the e-commerce operators required to deduct TDS under GST for the for the month of  January 2019.

  • Due date for filing GSTR-1 for the month of  January 2019. 
  • Applicable for those taxpayers whose annual aggregate turnover above Rs. 1.50/- Crore or who opted to file monthly Return only. Notification No. 44/2018 – Central Tax.

  • Due date for filing GSTR-6 (to be filed by the Input Service Distributor for for the month of January 2019.

Income tax Act, 1961
  • Due date for issue of TDS Certificate for tax deducted under section 194-IA (TDS on Immovable property) in the month of December 2018.
  • Form or Challan : Form 26QB
  • Due date for issue of TDS Certificate for tax deducted under section 194-IB (TDS on Certain Rent payment) in the month of December 2018.
  • Form or Challan : Form 26QC

Income tax Act, 1961
15 -02-2019
  • Due date for furnishing of Form 24G by an office of the Government where TDS for the month of January 2019 has been paid without the production of a challan.
  • Form or Challan : Form 24G
  • Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for quarter ending December 31, 2018
  • Form or Challan : Form 26Q

  • PF Payment for the month of January 2019.

  • ESIC Payment for the month of January 2019.
  • Due date for filing GSTR-5 & 5A (to be filed by the Non-Resident taxable person & OIDAR for the month of January 2019.
  • GSTR-3B for the month of January 2019. Pay due Tax till this date.
  • RFD-10:- Eighteen months after end of the quarter for which refund is to be claimed

MSME Development Act 2006

  • PF Return filling for the month of January 2019 (including pension & Insurance scheme forms)

Read More 

Note:- All dates are may be subject to change as per respective notification 
Read More

Friday, 1 February 2019

Checklist for GST Audit

Friday, February 01, 2019 0

Checklist for GST Audit in word format

Every registered person having turnover of more than Rs. 2 Crore has to file the reconciliation statement along with certificate by an Auditor as prescribed in Form GSTR 9C.

For proper execution of work a detailed checklist should be devised which clearly states the various details to be checked, manner of checking and the extent of checking. This ensures that important issues are not overlooked.

Link to download Checklist for GST Audit In Word Format:-
Server 1:- Click here
Server 2:- Click here
Server 3:- Click here
Server 4:- Click here
Server 5:- Click here
Server 6:- Click here
Server 7:- Click here
Server 8:- Click here

(Reference :- Technical Guide on Annual Return & GST Audit issued by The Institute of Chartered Accountants of India )
Read More

Post Top Ad