Please click the link below for the request slip for exchange of Rs.500 & Rs.1000 denomination notes

https://drive.google.com/open?id=0BwfaVqFwg9yDX0lMNWM1emZTbkE

The Government of India had withdrawn the currency notes of denomination of Rs.500 & Rs.1000/- from 09th November, 2016.

To know more about it please go through the Notification issued in this regard by Ministry of Finance on 08th November, 2016.

https://drive.google.com/open?id=0BwfaVqFwg9yDT21XLUF0akRQcFE

 

Jaitley, state FMs to meet on Nov 20 for political solution

Source: Centre, states divided on who will control GST

The Goods & Services Tax (GST) Council has finalized a four-rate tax structure – 5, 12, 18 and 28 percent, Finance Minister Arun Jaitley today announced at a press conference.

The Finance Minister also explained the following the press conference:

1. 50% of the products in the consumer bracket as Zero Rated.

2. Items of mass consumption will be under 5% slab

3. White goods category, which is presently taxed at 30-31 percent level, will be under the 28 percent category.Car will be under 28% category, while luxury cars will be taxed more.
4.The GST panel has also approved cess on tobacco, luxury products and sin items. This cess will not be additional and won’t add to states or consumers burden.

5.Taxation on gold will be decided upon the revenue flexibility

6. Cost empowerment issue will be taken up tomorrow.

7. The council will decide on flexibility of the compensation pool after 5 years. Cess, on the other hand, will be reviewed every year.

8. Centre is required to pay Rs 50,000 crore as compensation in the first year of GST.

KNOW YOUR DUE DATES
Nov-16
DATE	COMPLIANCE REQUIRED	FORM NO. / CHALLAN NO.
06-11-16	EXCISE: E-PAYMENT OF EXCISE DUTY FOR OCTOBER 2016	GAR 7
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR OCTOBER 2016 BY CORPORATES
07-11-16	INCOME TAX: DEPOSIT OF TDS/TCS COLLECTED DURING OCTOBER 2016	281
	INCOME TAX: DUE DATE FOR FURNISHING OF CHALLAN-CUM-STATEMENT IN RESPECT OF TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF OCTOBER 2016	26QB
10-11-16	EXCISE: MONTHLY RETURNS FOR PRODUCTION AND REMOVAL OF GOODS AND CENVAT CREDIT FOR OCTOBER 2016	ER 1
	EXCISE: MONTHLY RETURNS OF EXCISABLE GOODS MANUFACTURED & RECEIPT OF INPUTS & CAPITAL GOODS BY UNITS IN EOU, STP, HTP FOR OCTOBER 2016	ER 2
	EXCISE: MONTHLY RETURNS OF INFORMATION’S RELATING TO PRINCIPAL INPUTS FOR OCTOBER 2016 BY MANUFACTURER OF SPECIFIED GOODS WHO PAID DUTY>=RS. 1 CRORE DURING FY 2015-16 BY PLA/CENVAT/BOTH	ER 6
15-11-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS RS.10 LAKHS & ABOVE FOR THE MONTH OF OCTOBER 2016	10, 10B, 10C, 10D, 10E, 10F
	INCOME TAX: QUARTERLY TDS CERTIFICATE IN RESPECT OF TAX DEDUCTED  FOR PAYMENTS OTHER THAN SALARY BY ANY PERSON FOR THE QUARTER ENDED 30TH SEPTEMBER 2016	16
	EPF: PAYMENT OF EPF CONTRIBUTION FOR OCTOBER 2016	27EQ
	EPF: CONSOLIDATED STATEMENTS OF DUES AND REMITTANCES UNDER EPF AND EDLI FOR OCTOBER 2016	12A
	EPF: MONTHLY RETURNS OF EMPLOYEES WHO JOINED/LEFT THE ORGANISATION IN OCTOBER 2016	5/10
20-11-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS MORE THAT RS.2 LAKHS AND LESS THAN RS.10 LAKHS FOR THE MONTH OF OCTOBER 2016	10, 10B, 10C, 10D, 10E, 10F
	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING OCTOBER 2016  IF THE MODE OF PAYMENT OF VAT AND CST IS BY CASH/CHEQUE/DD	FORM 1 / FORM I
21-11-16	ESI: DEPOSIT OF ESI CONTRIBUTIONS AND COLLECTIONS FOR OCTOBER 2016
22-11-16	INCOME TAX : DUE DATE FOR ISSUE OF TDS CERTIFICATE FOR TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF OCTOBER 2016	16B
25-11-16	KERALA VAT: MONTHLY RETURN OF  EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS LESS THAN RS.2 LAKHS FOR THE MONTH OF OCTOBER 2016	10, 10B, 10C, 10D, 10E, 10F
29-11-16	COMPANIES ACT: LAST DATE FOR FILING ANNUAL RETURN AND FINANCIAL STATEMENTS UNDER COMPANIES ACT	AOC-4/MGT-7
30-11-16	KERALA VAT: LAST DATE FOR PRESUMPTIVE TAX AMNESTY SCHEME FOR PRESUMPTIVE TAX PAYERS U/S 25E OF KVAT ACT & ONE TIME SETTLEMENT FOR ARREARS DUE UNDER KGST/CST ACT
	INCOME TAX: DUE DATE FOR DEPOSIT OF TAX DEDUCTED AT SOURCE UNDER SECTION 194-IA FOR THE MONTH OF OCTOBER 2016	26QB
	INCOME TAX: STATEMENT OF INCOME DISTRIBUTION BY VENTURE CAPITAL COMPANY OR VENTURE CAPITAL FUNDS IN RESPECT OF INCOME DISTRIBUTED DURING 2015-16
	INCOME TAX: REPORT PERTAINING TO INTERNATIONAL OR SPECIFIED DOMESTIC TRANSACTIONS	3CEB
	INCOME TAX: AUDIT REPORT U/S 44AB FOR THE AY 2016-17 IN THE CASE OF AN ASSESSE WHO IS ALSO REQUIRED TO SUBMIT A REPORT PERTAINING TO INTERNATIONAL OF SPECIFIED DOMESTIC TRANSACTION U/S 92E
	INCOME TAX: ANNUAL RETURN OF INCOME FOR THE AY 2016-17 IN THE CASE OF ASSESSEE IF HE/IT IS REQUIRED TO SUBMIT A REPORT U/S 92E PERTAINING TO INTERNATIONAL OR SPECIFIED DOMESTIC TRANSACTIONS
	INCOME TAX: SUBMIT COPY OF AUDIT OF ACCOUNTS TO THE SECRETARY, DEPARTMENT OF SCIENTIFIC AND INDUSTRIAL RESEARCH IN CASE COMPANY IS ELIGIBLE FOR WEIGHTED DEDUCTION U/S 35(2AB) IF COMPANY HAS ANY INTERNATIONAL/SPECIFIED DOMESTIC TRANSACTIONS
	INCOME TAX: APPLICATION FOR EXERCISING THE OPTION AVAILABLE UNDER EXPLANATION TO SECTION 11(1) TO APPLY INCOME OF PREVIOUS YEAR IN THE NEXT YEAR OR FUTURE IF THE ASSESSEE IS REQUIRED TO SUBMIT INCOME TAX RETURN BY 30TH NOVEMBER	9A
	INCOME TAX: STATEMENT IN  TO BE FURNISHED TO ACCUMULATE INCOME FOR FUTURE APPLICATION U/S 10(21) OR 11(2) IF THE ASSESSEE IS REQUIRED TO SUBMIT RETURN OF INCOME ON NOVEMBER 30, 2016	10
	INCOME TAX: STATEMENT TO BE FURNISHED BY ALTERNATIVE INVESTMENT FUND (AIF) TO PRINCIPAL CIT OR CIT IN RESPECT OF INCOME DISTRIBUTED TO ITS UNIT HOLDER IN FY 2015-16	64D
	INCOME TAX: DUE DATE TO EXERCISE OPTION OF SAFE HARBOUR RULES FOR INTERNATIONAL TRANSACTIONS AND SPECIFIED DOMESTIC TRANSACTIONS	3CEFA/3CEFB
	INCOME TAX: DUE DATE FOR FILING OF ELECTRONIC STATEMENT OF INCOME DISTRIBUTED BY BUSINESS TRUST TO UNIT HOLDERS DURING THE FINANCIAL YEAR 2015-16	64A
	INCOME TAX:DUE DATE FOR E-FILING OF REPORT BY AN ELIGIBLE INVESTMENT FUND IN RESPECT OF ARM’S LENGTH PRICE OF THE REMUNERATION PAID TO THE FUND MANAGER	3CEJ

Last date for filing Financial Statements and Annual returns under the Companies Act, 2013 using e-forms AOC-4/AOC-4(XBRL)/AOC-4 CFS or MGT 7 as the case maybe without paying additional fees whereever applicable has been extended till 29th November, 2016.

KNOW YOUR DUE DATES
Oct-16
DATE	COMPLIANCE REQUIRED	FORM NO. / CHALLAN NO.
06-10-16	EXCISE: E-PAYMENT OF EXCISE DUTY FOR SEPTEMBER 2016	GAR 7
	EXCISE: E-PAYMENT OF EXCISE DUTY FOR THE QUARTER ENDING 30TH SEPTEMBER 2016 BY SSI’s
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR QUARTER ENDING 30TH SEPTEMBER 2016 BY NON CORPORATES
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR SEPTEMBER 2016 BY CORPORATES
07-10-16	INCOME TAX: DEPOSIT OF TDS/TCS COLLECTED DURING SEPTEMBER 2016	281
	INCOME TAX: DUE DATE FOR FURNISHING OF CHALLAN-CUM-STATEMENT IN RESPECT OF TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF SEPTEMBER 2016	26QB
10-10-16	EXCISE: MONTHLY RETURNS FOR PRODUCTION AND REMOVAL OF GOODS AND CENVAT CREDIT FOR SEPTEMBER 2016	ER 1
	EXCISE: MONTHLY RETURNS OF EXCISABLE GOODS MANUFACTURED & RECEIPT OF INPUTS & CAPITAL GOODS BY UNITS IN EOU, STP, HTP FOR SEPTEMBER 2016	ER 2
	EXCISE: MONTHLY RETURNS OF INFORMATIONS RELATING TO PRINCIPAL INPUTS FOR SEPTEMBER 2016 BY MANUFACTURER OF SPECIFIED GOODS WHO PAID DUTY>=RS. 1 CRORE DURING FY 2015-16 BY PLA/CENVAT/BOTH	ER 6
15-10-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS RS.10 LAKHS & ABOVE FOR THE MONTH OF SEPTEMBER 2016	10, 10B, 10C, 10D, 10E, 10F
	INCOME TAX: QUARTERLY STATEMENT IN RESPECT OF FOREIGN REMITTANCES BY AUTHORISED DEALERS FOR QUARTER ENDING SEPTEMBER 2016	16
	INCOME TAX: QUARTERLY STATEMENT OF TCS FOR QUARTER ENDING SEPTEMBER 2016	15CC
	EPF: PAYMENT OF EPF CONTRIBUTION FOR SEPTEMBER 2016	27EQ
	EPF: CONSOLIDATED STATEMENTS OF DUES AND REMITTANCES UNDER EPF AND EDLI FOR SEPTEMBER 2016	12A
	EPF: MONTHLY RETURNS OF EMPLOYEES WHO JOINED/LEFT THE ORGANISATION IN SEPTEMBER 2016	5/10
17-10-16	INCOME TAX: LAST DATE FOR RETURN OF INCOME FOR THE PY.2015-16 IN CASE OF AN ASSESSEE (WHOSE BOOKS OF ACCOUNTS ARE REQUIRED TO BE AUDITED) AND WORKING PARTNER OF A FIRM WHOSE ACCOUNTS ARE REQUIRED TO BE AUDITED	ITR 3/4/5/6/7/8
	INCOME TAX: AUDIT REPORT U/S 44AB FOR THE AY 2016-17 IN THE CASE OF A CORPORATE ASSESSEE OR NON-CORPORATE ASSESSEE	3CA/3CB/3CD
20-10-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS MORE THAT RS.2 LAKHS AND LESS THAN RS.10 LAKHS FOR THE MONTH OF SEPTEMBER 2016	10, 10B, 10C, 10D, 10E, 10F
	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING SEPTEMBER 2016  IF THE MODE OF PAYMENT OF VAT AND CST IS BY CASH/CHEQUE/DD	FORM 1 / FORM I
21-10-16	ESI: DEPOSIT OF ESI CONTRIBUTIONS AND COLLECTIONS FOR SEPTEMBER 2016
22-10-16	INCOME TAX : DUE DATE FOR ISSUE OF TDS CERTIFICATE FOR TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF SEPTEMBER 2016	16B
25-10-16	SERVICE TAX: HALF YEARLY RETURN FOR HALF YEAR ENDING 30TH SEPTEMBER 2016	ST-3/ST-3A
	KERALA VAT: MONTHLY RETURN OF  EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS LESS THAN RS.2 LAKHS FOR THE MONTH OF SEPTEMBER 2016	10, 10B, 10C, 10D, 10E, 10F
30-10-16	INCOME TAX: DUE DATE FOR DEPOSIT OF TAX DEDUCTED AT SOURCE UNDER SECTION 194-IA FOR THE MONTH OF SEPTEMBER 2016	26QB
	INCOME TAX: QUARTERLY TCS CERTIFICATE FOR THE QUARTER ENDING SEPTEMBER 30,2016	27D
31-10-16	INCOME TAX: QUARTERLY STATEMENT OF TDS  FOR QUARTER ENDING SEPTEMBER 2016	24Q/26Q
	INCOME TAX: DUE DATE FOR FURNISING OF ANNUAL AUDITED ACCOUNTS FOR EACH APPROVED PROGRAMMES UNDER SECTION 35(2AA)	10
	INCOME TAX: QUARTERLY RETURN ON NON-DEDUCTION OF TAX AT SOURCE BY A BANKING COMPANY FROM INTEREST ON TIME DEPOSITS IN RESPECT OF THE QUARTER ENDING 30TH SEPTEMBER 2016	26QAA
	INCOME TAX:DUE DATE FOR E-FILING STATEMENT CONTAINING PARETICULARS OF FORM NO. 60 RECEIVED DURING THE PERIOD JANUARY 1 2016 TO SEPTEMBER 30,2016	61

 

GST Council sets the threshold limit has been set at Rs.20 Lakhs. The Finance Minister Mr.Arun Jaitley informed media after the Council Meet.

The threshold limit for North Eastern States is set at Rs.10 Lakhs.

If a trader’s turnover is less than the threshold limit, they will not be covered under the GST.

It is also decided that the State Government authorities will have jurisdiction over assessees having turnover less than Rs. 1.50 Crores. Those with turnover above Rs.1.50 crores there will be cross examination by either Central or State Government authorities in order to avoid dual control. However the power to assess the 11 lakh service tax assessees who are assessed by centre, will remain with it.

The draft rules of exemption will be decided in the next meeting scheduled on September 30th, 2016. The rates and the tax slabs will be decided at the three day meeting of the council to be held from 17th October, 2016.