Penalty under GST law for non filing and related offences

The GST laws has clearly put out the rules and regulations that the taxpayer should follow, failing which he would have to pay the penalties. To avoid any sort of confusion the government has categorized the offences and Penalty under GST law to be laid on it. What are the major offences In total the government has come out with 21 offences related to the GST and penalty against it. However, the major ones are as follows: - No registration under GST Issuing the invoices using the GSTIN of another bona fide taxpayer. Uploading fake…
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How to change GST Username and Password ?

GST registered users have often complained that they are facing issues in changing their username and password. In several cases, the intermediaries who were hired by these taxpayers to complete the process of registration used their own email and mobile number which has made it difficult for them to take the full control of their account. Keeping this in perspective the Finance Ministry has now come up with the option of changing GST username and password. The concerned ministry has  laid down the steps which are required to be fulfilled by the…

Advance Tax Payment - How to pay it online

Advance Tax Payment can go incredibly in the favor of a taxpayer by relieving him of the last minute hustle such as missing the proper documents and so on.  Since June 15, the last day of paying the advance tax is on the verge, taxpayers who have planned for the advance payment should hurry up and take the benefit. Here are few important things that one should know before proceeding with the Advance Tax Payment. Coming to the eligibility, advance tax can be paid by the businessman as well as salaried professionals. It can be done by anyone irrespective…

How foreigners can apply and get the NRI GST registration?

India is a very lucrative market for the businesses at home and abroad alike and therefore recently number of Non resident Indians have been looking for the opportunity to invest in various businesses in the country. However, just like an Indian resident, the foreigner businessman would also need NRI GST registration in order to pay taxes in the country as well as claim the rebate. Documents required PAN of the applicant Business Incorporation Certificate Identity and address proof of the promoters with photographers Address proof…

Voluntary payment option is now available on GST portal

Individuals can now find the Form GST DRC-03 on the GST Portal for making voluntary payments for the taxpayer. Through the form, a taxpayer can make the voluntary payments before getting the show cause notice under section 73 or 74 of the CGST Act, 2017. The Voluntary payment can also be made within the 30 days of the issue of show cause notice. Both the facilities are not available on the GST Portal. Pre-requisites for making voluntary payment There are certain conditions mentioned for the taxpayers who want to make the voluntary payment. These…

Pan Card is now mandatory for availing benefits under LRS

Pan Card is now mandatory for sending the money abroad under the revised norms. The government has decided to make the Liberalized Remittance Scheme stricter wherein an Individual who is availing the benefit of the scheme should be furnish the Pan card as and when required. Earlier, if the beneficiary of the scheme is ceiling the transmit to $25,000 there was no requirement of the Pan Card. However, under the new norm, this ceiling has been removed. What is Liberalized Remittance Scheme? The window was offered in the form of LRS by the…

GST notice from the authorities - How to respond?

A registered dealer needs to file the GST return in time but sometimes he could receive the notice even after filing the returns. The authorities can send the GST notice to the taxpayer for various reasons. Some of these reasons are: Mismatch in filing the return Late filing of GST return Verification of Pre-GST claims A typical  GST notice from the authorities to the tax payers would look like this:- To: REG_NAME:  -----    GSTIN:  ----- TRADE_NAME: ----- Address :  ---- Contact No: ---- Tax period : Oct-17 to Dec-17 Notice…
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Filing GSTR after due date - GST late fees to be given

A registered dealer should file the GST returns in time, else it could attract the GST late fees and penalty. For instance, earlier a registered dealer should have filed the GSTR-1 return due for months of July to Nov 2017 and July to September 2017 by 10th Jan 2018. In case the details are missing, he would now be liable to pay late fees for Rs 200 (has changed after the CBEC notification about the same as on March 7th 2018) on the daily basis for the number of days that have passed after the due date until the day of finally filing the return. Further,…

New fuctionality update in GST Portal

New update in GST Portal: Given below are updates on functionalities which were made available on GST Portal recently: (A) Registrations: (i)  Facility to apply for Revocation of cancellation of Registration has been enabled on GST Portal. This form will enable Tax payers whose registration has been cancelled via Suo-moto Cancellation process, to apply for revocation of cancellation of registration. (ii) Facility to apply for grant of Unique Identity Number to UN Bodies/Embassies/Other Notified Person has been enabled on GST Portal (refer Rule…