Ankit N Gupta & Assoc.

01/01/2019

Wish you all a very happy
NEW YEAR 2019

07/11/2018

27/07/2018

Namaste
*Tax Updates*

GST: Central Tax (Rate) Notification Nos. 18, 19, 20 & 21 issued dated 26th July 2018 to give the effect of changes wef 27.07.2018 made in council meeting held on July 21.

CBDT has extended the due date for filing of Income Tax Returns to August 31, 2018, for categories of taxpayers who were to file their returns by July 31.

Due Date 31 July 2018 - Quarterly statement of TDS deposited for the quarter ending June 30, 2018

Regards
*CA Ankit Gupta*

04/07/2018

Namaste🙏

*July Month Due Dates Alert*

-3B (Jun 2018)-Jul 20th, 2018

-5 (Jun 2018)-Jul 20th, 2018

-6 (Jul'17 - Jun'18)- Jul 31st, 2018

-4 (Apr-Jun, 2018)-Jul 18th, 2018

-5A (Jun 2018)-Jul 20th, 2018

return for registered persons with aggregate turnover up to Rs.1.50 Crores- GSTR-1 (Apr-Jun, 2018)-Jul 31st, 2018

exceeding Rs.1.5 Crores or opted to file monthly Return GSTR-1 (Jun 2018) - Jul 10th, 2018

Regards
*CA Ankit Gupta*

16/06/2018

Namaste🙏
GST Update

* Now E-way bill is in Delhi too*

Commissioner State GST, Delhi has come out with Notification No. 3 dt. 15.06.2018 to compulsorily fill e-way Bill inside Delhi for all B2B transactions above Rs. 1 lakh only.

Further, B2C transactions to end customers of any value do not require e-way bill for but requires to carry invoice, challan etc.

Notification applicable w.e.f. 16.06.2018.

Regards
CA Ankit Gupta

16/06/2018

Namaste🙏
*Tax Updates*

*Late fee on delay in filing income tax return for the year ended *31st March, 2018 (Asst.Yr: 2018-19)* under sec. 234F:

1. If Return filed during 01/04/2018 – 31/07/2018 : Late Fee *NIL*

2. If Return filed during 01/08/2018 – 31/12/2018 : Late Fee Rs. *5000*

3. If Return filed during 01/01/2019 – 31/03/2019 : Late Fee Rs. *10000*

Note: If total income does not exceed Rs.5 Lakhs then this Late Fee will be restricted to Rs. *1000* only.

Regards
*CA Ankit Gupta*

04/06/2018

*IMPORTANT DUE DATES FOR THE MONTH OF JUNE 2018*

*A. Due dates for Compliances under GST*

10-06-2018- Due date for filing GSTR -1 for the month of May 2018. Applicable for taxpayers with Annual Aggregate turnover More than 1.50 Crore.

20-06-2018- GSTR-3B for the m/o May 2018.

30-06-2018- Extended due date to file form GST TRAN-2.

*B. Due dates for Compliance under Income tax*

07-06-2018- Due date for deposit of TDS/TCS for the month of May 2018

14-06-2018- Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB in the month of April 2018

15-06-2018- Due date for issue of TDS Certificate(other than salary) for quarter ending March, 2018

15-06-2018- Due date for issue of TDS Certificate for salary paid during FY 2017-18

15-06-2018- Due date of deposit of First instalment of advance tax for the assessment year 2019-20

30-06-2018 – Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA, 194-IB in m/o May 2018.

*C. Due dates for Compliances under ESI, PF Acts*

15-06-2018- PF Payment for m/o May 2018.

15-06-2018- ESIC Payment for m/o May 2018

Regards
*CA Ankit Gupta*

28/05/2018

Namaste
*Tax Updates*

*Important due date May 31, 2018*

# Quarterly statement of TDS deposited for the march quarter ending.

-1 for April for the assess having turnover 1.5 cr or more.

has to file form 11 (Annual Return) for the FY 2017-18 on or before 30th may, 2018.Otherwise Additional fees of Rs. 100/- per day in case of delay in filing of Form 11

Regards
*CA Ankit Gupta*

21/05/2018

Namaste 🙏🏼🙏🏼
Tax Updates:

GST: GSTR-3B extended due date for April 2018 is 22.05.2018

The Composition Dealers can now view auto-drafted Form GSTR 4A related to B2B inward supplies and Debit/Credit Notes received by them in their Return Dashboard. This will be an auto-drafted and read-only form, based on data uploaded from the saved/submitted details by supplier taxpayers in their Form GSTR-1/5.

GST: E-way bill within state of Punjab to commence from 01.06.2018

Daman and Diu UT, Dadra and Nagar Haveli UT and Chandigarh UT to roll out intra-state e-way bill WEF 25th May 2018

Case Study: Delhi HC sets out Principles for launching prosecution U/s. 279 for late deposit of TDS - Indo Arya Central Transport Limited Vs. CIT (Delhi High Court)

Regards
*CA Ankit Gupta*