Month: April 2019

GST: No E-way Bill if buyer/seller don’t file returns for two consecutive tax period/months

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Restrictions in generating E-way bill in case of non-filing of GST Returns

CBIC had notified that Government of India appoints the 21st day of June, 2019, as the date from which the provisions of the Rule 138E of Central Goods and Service Tax, Rule (Inserted by Central Goods and Services Tax (Fourteenth) Amendment Rules, 2018 rule 12 of [notification No. 74/2018–Central Tax, dated the 31st December, 2018]), which restricts generation of Part A of E-way bill in case on non-filing of returns for two consecutive months by a normal registered person and in case of composition dealers under section 10 of CGST Act, non-filing of returns for two tax periods.

The extract of the rule 138E is given below:

“138E. Restriction on furnishing of information in PART A of FORM GST EWB-01.- Notwithstanding anything contained in sub-rule (1) of rule 138, no person (including a consignor, consignee, transporter, an e-commerce operator or a courier agency) shall be allowed to furnish the information in PART A of FORM GST EWB-01 in respect of a registered person, whether as a supplier or a recipient, who,—

(a) being a person paying tax under section 10, has not furnished the returns for two consecutive tax periods; or

(b) being a person other than a person specified in clause (a), has not furnished the returns for a consecutive period of two months

Provided that the Commissioner may, on sufficient cause being shown and for reasons to be recorded in writing, by order, allow furnishing of the said information in PART A of FORM GST EWB 01, subject to such conditions and restrictions as may be specified by him;

Provided further that no order rejecting the request of such person to furnish the information in PART A of FORM GST EWB 01 under the first proviso shall be passed without affording the said person a reasonable opportunity of being heard;

Provided also that the permission granted or rejected by the Commissioner of State tax or Commissioner of Union territory tax shall be deemed to be granted or, as the case may be, rejected by the Commissioner.

Explanation:– For the purposes of this rule, the expression ―Commissioner‖ shall mean the jurisdictional Commissioner in respect of the persons specified in clauses (a) and (b).”

As per the rule, a registered person can’t fill PART- A of FORM GST EWB-01 in case of another registered person, who had defaulted in filing retun for two months or two tax periods. For Example, M/s.ABC is selling goods to M/s.XYZ, for a value exceeding the limits prescribed for E-way bill, M/s.ABC is not allowed to submit/furnish information in relation such supply, when M/s.XYZ had defaulted in filing return. In this case M/s.XYZ, is also not permitted to furnish PART- A of FORM GST EWB-01. So non-filing of returns for two months of two tax periods will result in not getting goods and there by affect your business operations.

So registered persons especially those dealing in goods or require goods in providing the services, should ensure that all the backlogs in filing GST returns were cleared on or before 21st June, 2019 and ensure that the monthly returns are filed in time. This is an additional restriction, that is going to be imposed in addition of late fee for filing return and Interest on delayed payment of tax.

GST: No E-way Bill if buyer/seller don’t file returns for two consecutive tax period/months

INC-22A – Form Active – Due date for filing extended till 15th June, 2019

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The government has extended the deadline for uploading photos of business premises to June 15, giving corporates more time to comply with a provision aimed at spotting shell companies.

“It has been decided to extend the date to June 15,” confirmed a corporate affairs ministry official. The same is reported in Economic Times.

This new electronic form INC 22A, which is also known as e-Form ACTIVE (Active Company Tagging Identities and Verification), was notified as part of the Companies (Incorporation) Amendment Rules, 2019 in February. If the form is filed within the due date, there is no fee, while late filing will attract a fine of Rs 10,000.

Ministry of Corporate Affairs, issued notifications regarding extension of due date for filing Form Active (INC-22A) and also changing the date of filing without any payment of fees and till 15-06-2019 and with payment of Rs.10,000/- for filing on or after 16-06-2019, by amending Companies (Incorporation) Rules, 2014 and Companies (Registration offices and Fees) Rules, 2014. Both the notification were issued on 25th April, 2019.

Source: https://economictimes.indiatimes.com & http://www.mca.gov.in

INC-22A – Form Active – Due date for filing extended till 15th June, 2019

GST: Returns by 6% Composition Scheme

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CBIC vide notification number 21/2019 Central Tax dated 23rd April, 2019, notified the returns/statements that needs to be filed by a Service Provider opted for 6% composition Scheme, as notified by Notification 2/2019 Central Tax issued on 07-03-2019. The following Statements/returns needs to be submitted by such person:

Quarterly Return – FORM GSTR – CMP -08: The registered persons opted for the scheme shall furnish a statement, every quarter or, as the case may be, part thereof containing the details of payment of self-assessed tax in FORM GST CMP-08 of the Central Goods and Services Tax Rules, 2017, till the 18th day of the month succeeding such quarter.

Annual Return – FORM GSTR – 4: The registered persons opted for the scheme shall furnish a return for every financial year or, as the case may be, part thereof in FORM GSTR-4 of the Central Goods and Services Tax Rules, 2017, on or before the 30th day of April following the end of such financial year.

GST: Returns by 6% Composition Scheme

Income tax TDS rates – FY 2019-20

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TAX DEDUCTED AT SOURCE – RATES FOR ASSESSMENT YEAR 2019-20
Sl. No.Nature of PaymentSectionBasic Cut-off (Rs.) p.a.TDS Rate: Individual/HUFTDS Rate:Other than Individual/ HUFTDS Rate: No PAN/ Invalid PAN
1Payment of Salaries by Employers192Slab rateSlab rateNot applicable30%
2Premature payment by PF Organization from EPF A/c (i.e. before 5 Years).192A50,000.0010%Not applicable20%
3Payment of Interest on Securities by company.19310,000.0010%10%20%
4Payment of Dividend other than dividend as referred to Section 1150 by company (i.e. Dividend on which Dividend Distribution Tax is notpaid)1942,500.0010%10%20%
5Payment of Interest by bank194A40,000.00 (Non Sr. Citizen) 50,000.00 (Sr. Citizen)10%10%20%
6Payment of Interest by others194A5,000.0010%10%20%
7Payment of prize from Wining from Lotteries by any person.194B10,000.0030%30%30%
8Payment of prize from Wining from Horse Race by any person.194B10,000.0030%30%30%
9Payment to Contractors by any person194C30000(Single nill) or 1 Lakh aggregate bills during the year.1%2%20%
10Payment to Transporter Covered u/s. 44E and submit declaration in prescribed format. (i.e. owning less than 10 goods carriages)194C–0020%
11Payment to Transporter not covered U/s.44E (i.e., owning more than 10 goods carriages)194C30000 (single bill) or 75000 aggregate bills during the year1%2%20%
12Payment of Insurance Commission to agents by Insurance Company.194D15,000.005%10%20%
13Payment in respect of maturity of Life Insurance Policy by life insurance Company194DA1 Lakh1%1%20%
14Payment to NRI sportsman or association by any person.194E–20%20%20%
15Payment out of deposit under National Saving Scheme (NSS)194EE2,500.0010%10%20%
16Payment with respect to repurchase of units by Mutual FundCompanies.194F–20%20%20%
17Payment of Lottery Commission194G15,000.005%5%20%
18Payment of commission or Brokerage194H15,000.005%5%20%
19Payment of rent on land, building, furniture and fittings.1941240,000.0010%10%20%
20Payment of rent on plant, machinery or equipments.1941240,000.002%2%20%
21Payment made on account of transfer of immovable property other than agricultural land194IA50 Lakh1%1%20%
22Rent payable by individual not covered u/s. 194I for land, building, F&F1941B50,000.00 PM5%5%20%
23Payment of Professional fees other than call centers194J30,000.0010%10%20%
24Payment of Professional fees to call centers194J30,000.002%2%20%
25Compensation on transfer of certain immovable property other than Agricultural Land194LA250,000.0010%10%20%
Income tax TDS rates – FY 2019-20

Form DPT-3 – Data on Deposits should be filed upto 31-03-2019

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Ministry of Corporate Affairs, vide General Circular 05/2019 dated 12-04-2019, stated that data on deposits should be filed upto 31st March, 2019 (as opposed to 22nd January, 2019 which was originally indicated in the said Rule). Rule change is being issued separately.

It is also stated that the additional fee, as provided under the Companies (Registration Offices and Fees) Rules, 2014, shall be levied after 30 days from the date of deployment of the DPT- 3 form on MCA 21 portal.

As per the original amendment to Rule 16A(3) of the Companies (Acceptance of deposit) Rules, 2014 “every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of the notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with the fee as provided in the Companies (Registration Offices and Fees) Rules, 2014″.

As per the original notification, the date is 22nd January, 2019, and the same is now changed to 31st March, 2019, and also the additional fees shall be levied after 30 days from the date of deployment of the DPT- 3 form on MCA 21 portal.

Form DPT-3 – Data on Deposits should be filed upto 31-03-2019

DIR-3 KYC – Directors Annual KYC filing – Clarification by Ministry of Corporate Affairs

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Ministry of Corporate Affairs had made a clarification post (not by way of Notification or Circular) in their website http://www.mca.gov.in regarding the annual filing of DIR-3 KYC for those Directors who had already filed the form and for those DIN allotted post 31-03-2018.

The clarification states that the DIR-3 KYC e-form presently available on the portal does not cater for the following:

(i) Filing on annual basis, and

(ii) Filing in respect of DINs allotted post 31 March 2018. It presently caters only to those individuals who were allotted DINs as on 31st March 2018 and whose DINs have been marked as ‘Deactivated due to non-filing of DIR-3 KYC’.

It is also clarified that, the form is presently being modified to enable pre-filling of data & information so that annual filings can be done by DIN holders in a simple and user friendly manner. The revised form, which will be shortly deployed, can be filed without any fee within a period of 30 days from the date of deployment.

Source: http://www.mca.gov.in

DIR-3 KYC – Directors Annual KYC filing – Clarification by Ministry of Corporate Affairs