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vjmglobal · 2 years

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Procedure of E-Invoice Generation under GST | Brief User Manual

Electronic invoicing (e-invoicing) is a newly introduced system under GST wherein all B2B invoices are authenticated electronically by Goods and Service Tax Network (“GSTN”). E-invoicing is not about generation of invoices on the GST portal. This is a myth. Every dealer is required to generate invoices in his regular accounting software.

Rather, e-invoicing is a process of uploading details of an already generated invoice on the GST portal and generating an Invoice Reference Number (“IRN”) for such invoice. Idea behind e-invoicing is one time registration of invoices on GST portal so that it can be used for multiple purposes.

Click here to Know all about e-invoice under GST.

A. Applicability and turnover for e-invoices various registered persons

E-Invoicing under GST has been made mandatory by CBIC (Central Board of Indirect and Customs) vide Notification No. 73/2020 – Central Tax with effect from 1st October 2020 for the businesses with aggregate turnover exceeding INR 500 Crore during preceding financial years.

CBIC further extended e-invoicing in the following dates:

From 1st January 2021- taxpayers with aggregate turnover exceeding INR 100 Crores in any preceding financial year from 2017-18.

From 1st April 2021- taxpayers with aggregate turnover exceeding INR 50 Crores in any preceding financial year from 2017-18.

B. Non applicability of e-invoices of certain class of registered persons

E-invoicing is not applicable to the following registered person:

An insurer or a banking company or a financial institution, including an NBFC.

A registered person supplying passenger transportation services.

A Goods Transport Agency (GTA)

A registered person supplying services by way of admission to the exhibition of cinematographic films in multiplex services

An SEZ unit (excluded via CBIC Notification No. 61/2020 – Central Tax)

C. Procedure of generation of e-invoice

All registered persons are required to generate a tax invoice for every sales transaction in his regular sales invoices format. However, as per Rule 48(4) of CGST Rules, 2017, information about such invoice shall be uploaded on GST portal through Form GST INV-01 for generation of Invoice Reference Number (IRN).

In this article a comprehensive procedure is provided about generation of Invoice Reference Number under e-invoicing and solution to various practical issues faced by registered persons while generating IRN.

1. E-invoice generation portal

For the purpose of e-invoice generation, GSTN has created a new portal https://einvoice1.gst.gov.in/. However, for the purpose of providing guidance to persons, a dummy/trial website is also created by the name of https://einvoice1-trial.nic.in/. Trial website looks exactly like the main website and contains all features but information entered on this portal does not get migrated to the main portal. Therefore, registered persons should use only the main portal for IRN generation.

2. Registration on e-invoice portal

All new persons getting covered under e-invoicing are required to get themself registered first on e-invoice portal. Registration can be carried out by clicking on “Registration>Portal Login” tab on e-invoicing website.

System will pop up the window to enter the GSTIN of the registered person and captcha.

Upon entering the same, the system will auto-populate the basic details of the taxpayer in the following manner and will ask the taxpayer to generate OTP.

OTP will be sent to a registered mobile number and upon verification of OTP, the system will ask the user to enter username and password.

Created username and password will be used for generating e-invoices.

The facilities like forget username or password is also available and the person can access username or can change password by entering his registered mobile no. and GSTN.

Please note:

Person who is already registered on e-waybill portal (https://ewaybillgst.gov.in/) need not to register themself again on e-invoicing portal. Same login credentials can be used for login at e-invoicing portal.

Registration on an e-invoicing portal is a one time exercise.

3. Voluntary E-invoice enablement where turnover is less than 50 cr

Above discussed feature of registration can be used directly for registered persons having aggregate turnover of above INR 50 crores. If any registered person with aggregate turnover of less INR 50 crores tries to register on e-invoice portal then system will display following error:

If such a taxpayer still wants to generate e-invoice then to register, you are first required to enable e-invoicing for corresponding GSTIN by clicking on “Registration>e-invoice enablement” tab available on the homepage.

Upon entering GSTIN, system will auto-populate following basic information about the GSTIN and will ask the assessee to declare that aggregate turnover is more then INR 50 Crores.

Upon submission of the same with OTP, the taxpayer will be able to register his GSTIN on e-invoicing portal.

4. Generation of e-invoice

Once a username and password is available, a registered person can login at the e-invoice portal by clicking on the “Login” tab available on the homepage of the website.

On login, the system will display various tabs and the very first option is “e-invoice”.

Under “e-invoice”, following additional tabs are available:

Generate New

Bulk upload

Cancel

Print IRN

Bulk IRN cancel

Let’s discuss the very first method of e-invoice generation, i.e., generating e-invoice for a single invoice at a time.

a. Generation of E-invoice for a single invoice

If a supplier wants to generate a single e-invoice, then he can do so by clicking on Generate New tax invoice. This option is useful for the person who has few invoices. However, in case of multiple invoices, a person should opt for the “Bulk Upload” option because bulk upload saves time and increases accuracy in case of large numbers of invoices.

After moving to the Generate new tab a person can enter the details of the invoice for which e-invoice is required to be generated.

b. Generation of e-Invoice for bulk invoices

For the high number of invoices or even small number of invoices, a person can use bulk upload option for generating IRN (Invoice Reference Number) also known as hash for all the invoices at one go.

For the purpose of generating multiple IRNs at one go, a user is required to upload a JSON file on an e-invoicing portal. For generation of JSON file, a user is available with following options:

Bulk Generation Tool (provided by GSTIN)

JSON generated using other customised software

API Integration

4.1. Generation of einvoicing by using Bulk Generation Tool

In this article, we will discuss in detail about “Bulk Generation Tool”. Following are the steps to follow for bulk upload:

Firstly, a person needs to download the EINV bulk converter for bulk upload, which works for converting multiple invoices excel files into a single JSON file. User can download it from tab Help > Tools > Bulk Generation Tools.

Under bulk Generation Tool, GSTIN has shared following two types of tools:

GePP Tool (GST e-invoice preparing & printing tool)

Bulk IRN Generation Tool

A. GePP Tool

GePP tool is an excel based utility prepared for the persons not having any ERP System. Utility is directly connected with an e-invoice portal and allows registered persons to enter invoice wise information and will generate the GSTIN .

GePP tool allows adding one by one invoice and person to enter data one by one and is useful for taxpayers having few invoices and not available with any ERP system.

B. Bulk IRN Generation tool

Bulk IRN Generation tool is an excel based utility which is useful for people having ERP systems. Details of invoices can be extracted in Excel from the ERP system and same be imported in Bulk IRN generation tool for generating JSON File.

In the case of Bulk IRN generation tool, following four types of formats are provided for different type of users:

Format A: In this format all details related to invoice can be entered in a single worksheet. This format is usable for businesses having 1 or 2 items in an invoice and business mainly having B2B transactions.

Format B: .In this format, two worksheets are provided one for invoice wise details and second for item wise details. As details of items are to be provided in a separate sheet therefore, every line item should contain document number, document date and document type. This format is useful for businesses having multiple line items.

Format C: In this format, Five Worksheets are provided for Invoice wise details, item wise details, payment details, reference details and additional details. As separate sheet is provided for all information, therefore, every line item should contain document number, document date and document type.

Format D: In this format, one Worksheet is provided for Invoice wise details, item wise details, payment details, reference details and additional details.

After entering details in the bulk generation tool, the user can create a JSON file and upload the same on the e-invoice portal for generation of e-invoices. Data can be uploaded post login at Dashboard>Invoices>Bulk Upload option to the following window.

It is to be noted that the file to be uploaded should not be more than 2 MB.

After uploading the JSON file in the above window, the system processes it and generates the IRN (Invoice Reference Number) for each request as shown in the below shown window.

It is to be noted that JSON files must comply with the e-invoice schema (a structured format/ template) that is published and has the mandatory parameters. If IRN is not generated it will show relevant errors to which a person can look upto and upload after full compliance.

Please note that:

A person can export the final e-invoices in excel or in JSON format.

IRN will be generated for each invoice which is the unique identity of each invoice for the whole financial year for a Taxpayer.

System will automatically update the details on the E-way bill portal wherever applicable. E-way bill system updates one part of it further only the vehicle number is to be attached in e-way bill.

Utility once downloaded can be used repeatedly. However, updated version should be downloaded in case of any update in format.

Click on this link to be continued: click here

#best ca firm in india

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prismitsolutions12 · 3 years

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How Can Tally Prime Be Beneficial | PrismIT

Tally prime provides new features which can help businesses grow and make the right decisions by helping with the right insights. Tally prime features like “Go-To” and “customizable reports”, you can explore and have a look at reports, slicing and dicing them the way you want.

Multiple companies can be managed and incrementally add features such as multiple go-downs, multi-currency, order process, cost centers, etc. The leverage of it helps to focus on other aspects of business like growth and scalability.

Benefits Of Tally Prime

Invoicing & Accounting

Invoices are recorded making it easier and simple. Multiple billing, Optimized invoice components, host of configurations makes Tallyprime molding to your business. The wide variety of features in Tally prime makes it a simple and easier accounting system.

Inventory Management

Tally’s prime features make it one of the most flexible systems for optimal inventory management.

Features like godown management, multiple stock valuation, manufacturing, batch, and expiry date, job costing, etc, and inventory reports make inventory management feasible.

Insightful Business Reports

Tally prime has an amazing feature that helps generate more than 400 business reports, allowing businesses to make informed decisions accordingly.

Let’s check out Accounting Reports

Ledger Reports

Cash Reports

Bills Receivables

Bills Payables

Receipts and Payments

Daybook

Enhanced Security Management

To help your data be safe and secure, tally prime has an amazing feature called Tally Vault, which helps maintain the confidentiality of information by encrypting the data. You can create multiple security levels, define user-level rights and assign specific access to employees as per their roles and responsibilities. You can create multiple users and simultaneously assign security levels based on the role, assign passwords, and deactivate the users easily. You can set a password policy as a good password policy will not only enhance data security and allow only authorized users to view financial data which ultimately helps to define the password strength, password expiry, password history, allowing the user to change password, etc.

Taxation

Tally prime helps you to file your GST. The built-in capability of error detection and correction ensures that you file your GST returns correctly. E-invoices can be generated easily with no changes to invoicing process that you follow. Automatically you can print IRN & QR codes on the invoices without manual intervention. Tallyprime also supports the bulk generation of e-invoices and offline generation e-invoice files. Using TallyPrime’s online connected e-way bill solution, you can instantly generate an e-way bill for a single invoice in the flow of recording invoices or multiple invoices from a report. All you need to do is just record an invoice and TallyPrime will automatically generate an e-way bill and capture the e-way bill number on the invoice. This comes with an option to extend, cancel and update e-way bill details online within TallyPrime.In TallyPrime, TDS and TCS requirements for your business in an accurate and simplified manner can be managed easily.

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swedna · 4 years

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Goods and services tax (GST) collection fell below the Rs 1-trillion mark in March after a gap of four months, even as disruptions caused by the coronavirus-induced lockdown will get captured only in the coming months.

The numbers pertain to GST paid in February but collected in March, suggesting that collections might turn grimmer going forward.

The GST mop-up in March stood at Rs 97,597 crore, down 8.4 per cent on a year-on-year basis, the data released by the Ministry of Finance showed on Wednesday. The government had targeted a collection of Rs 1.25 trillion in March. GST collection grew by a meagre 3.7 per cent in the full fiscal year 2019-20.

The dismal collection in March is despite the stringent anti-evasion measures introduced by the government, including the blockage of e-way bill and restricting input tax credit to 10 per cent in the case of failure of invoice uploads by suppliers.

Already hit by an economic slowdown, the country went into a 21-day lockdown from March 24 to prevent the spread of Covid-19. All industries that were struggling have become non-operational, which will reflect in the April GST collection figures.

Kerala Finance Minister Thomas Isaac told Business Standard that the April numbers, which would essentially be transactions in March would only be about 15-20 per cent of the March figures.

Pratik Jain, partner, PwC India, said, “It seems that many businesses may not have been able to pay GST because of liquidity issues being faced after the lockdown. As the second half of March 2020 has been significantly impacted due to the Covid-19 outbreak, collections in April are likely to be substantially lower.”

In a major relief for businesses facing lockdown due to coronavirus, the last date for GST return filing for March, April and May 2020 has been extended to June 30, with no interest, late fee and penalty, for companies with up to Rs 5 crore turnover and subsidised interest of 9 per cent, and no penalty or late fees for bigger companies.

M S Mani, partner, Deloitte India, said it was necessary for businesses to conserve cash in order to enable resumption of operations once the lockdown ends. Hence, any deferral of the GST payment timelines by a few months would significantly assist them in this process, Mani said.

Central GST collection for FY20 at Rs 4.95 trillion fell Rs 18,188 crore short of revised estimates for the fiscal year. The finance ministry, in Union Budget 2020-21, had lowered the CGST collection target for FY20 to Rs 5.13 trillion from Rs 5.26 trillion estimated in July.

Of the Rs 97,597-crore revenue in March, the central GST collection stood at Rs 19,183 crore, state GST at Rs 25,601 crore and integrated GST at Rs 44,508 crore, which included Rs 18,056 crore collected on imports, the finance ministry said in a statement.

chart GST collection on domestic transactions witnessed an 8 per cent decline, while GST collection on imports posted a negative growth of (-)23 per cent, indicating the beginning of Covid-related supply and demand disruption.

In order to plug revenue leakages, the Council allowed blocking of input tax credit in the case of fraudulent invoices and blocking of e-way bills in the case of non-filing of returns for three straight months.

The Council in its meeting on March 14 deferred the new simplified returns and e-invoicing till October, which was to be launched from April 1. Meanwhile, in order to improve collections, the government is aiming to correct inverted duty structure. It raised the GST on mobile phones to 18 per cent from 12 per cent, bringing the rate on a par with the inputs.

Lower-than-expected revenues are also putting pressure on the Centre to compensate states for the revenue shortfall. The compensation cess collection stood at Rs 8,306 crore during the month, much smaller than the approximately Rs 14,000-15,000 crore compensation required by states on a monthly basis. States are up in arms with the Centre over a delay in payment of compensation dues and are planning to drag Centre to the Supreme Court.

#GST

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vidyasunilandassociates · 4 years

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*39th GST Council Meeting Updates* 1. Hiked the rate on mobile phones to 18 percent from 12 percent 2. Gave relief to domestic maintenance, repair and overhaul (MRO) service providers. It has decided to bring parity with allowing 5 percent GST with full input tax credit (ITC) 3. GSTR-9 and 9C due date pushed to 30th June 2020 for FY 2018-19 from 31 March 2020; Increases the turnover limit from Rs 2 cr to Rs 5 cr for the mandatory annual return filing 4. The GST Council will continue with GSTR-1, GSTR-2A and GSTR-3B till September 2020 and defer the new GST return system till such time. 5. To curb fake invoicing and fraudulent passing of ITC, restrictions to be imposed on passing of the ITC in case of new GST registrations, before physical verification of premises and Financial KYC of the registered person. 6. Certain class of registered persons (insurance company, banking company, financial institution, non-banking financial institution, GTA, passenger transportation service etc.) to be exempted from issuing e-invoices or capturing dynamic QR code; and 7. The dates for implementation of e-invoicing and QR Code to be extended to 01.10.2020. 8. Interest for delay in payment of GST to be charged on the net cash tax liability w.e.f. 01.07.2017 (Law to be amended retrospectively). 9. Where registrations have been cancelled till 14.03.2020, application for revocation of cancellation of registration can be filled up to 30.06.2020 (extension of period of application as one-time measure to facilitate those who want to conduct business). 10. Relaxation to MSMEs from furnishing of Reconciliation Statement in FORM GSTR-9C, for the financial year 2018-19, for taxpayers having aggregate turnover below Rs. 5 crores; 11. Late fees not to be levied for delayed filing of the Annual return and the Reconciliation Statement for financial year 2017-18 and 2018-19 for taxpayers with aggregate turnover less than Rs. 2 crores. Advice for Connect : VidyaSunil and Associates Web: www.vidyasunilassociates.com https://www.instagram.com/p/B96rGTrlYhM/?igshid=k6i6asi8hr52

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sminstituteblog · 4 years

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REMEMBER 10 THINGS IF YOU HAVE GST CERTIFICATE

REMEMBER 10 THINGS IF YOU HAVE GST CERTIFICATE .

E-invoice : New E-invoicing system is going to be implemented in GST which is mandatory from 1st April 2020 for taxpayers having an annual turnover exceeding Rs. 100 crore and then gradually to all B2B suppliers in the future. A mechanism for the continuous upload of revenue invoices on a real-time basis. This is the most remarkable change coming in Indian Book Keeping.New IRP in GST: Invoice Registration Portal would be introduced this new year. IRP shall make an e-invoice of the invoices uploaded by the supplier. IRP shall send the e-invoice to the supplier and recipient. IRP shall send e-invoices data to GSTN portalNew Return: New simplified auto-mated GST returns would be implemented from 1st April 2020 for all taxpayers. This new returns system will increase compliance and reduce tax evasion to a larger extent.Annexure 1 and Annexure 2: Anx-1 of Outward Supplies and Anx-2 of Inward Supplies will be the future base for filing of all GST Returns, thus these 2 reports will be the key for future reports of GST which will replace GSTR 1 and GSTR-2A.Restriction on claim of ITC: With effect from 01/01/2020, ITC in respect of invoices or debit notes that are not reflected in taxpayer’s FORM GSTR-2A shall be restricted to 10 percent of the eligible ITC reflected in his FORM GSTR-2A. Earlier the restriction was 20%. A major change in ITC availment.E-way Bill and GSTR-1: From 11th January, 2020 non-filing of GSTR-1 for two consecutive periods would block generation of E-way Bill. Thus, regular filing of GSTR-1 and GSTR-3B in year 2020 should go hand in hand.Waiver of late fees for Non-filing of GSTR-1: If the taxpayer has failed to file GSTR-1 from July 2017 to November 2019, then the taxpayers can file such returns till 10 January, 2020 and the late fees for the same has been waived of. This will also affect GSTR-2A of the recipient to claim ITC.GST Audit and Annual Return: The due date for filing GST Annual Return and Audit Report for F.Y. 2017-18 has been further extended to 31st January, 2020.The due date for filing GST Annual Return and Audit Report for F.Y 2018-19 has been extended to 31st March, 2020. For F.Y 2019-20 new format may be brought in because of inherent limitations in current forms.DIN notices and E-scrutiny: Due to decline in collection of revenue from GST, large scale e-scrutiny and e-assessment notices with DIN for the returns from July 2017 may be taken up. It would be done in order to check significant deviations in returns.GSTN Network is proposed to be reengineered for more taxpayer-centric services like reminder of return filing, status of refund, ITC matches and mismatches, etc.MONEY MANTRA Read the full article

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alankitlimited-blog · 4 years

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Commenting on the outcomes of 35th Mtg of GST Council, Chandrajit Banerjee, Director General, CII, said, “By chairing the GST Council Meeting within a month of assuming charge, Finance Minister Nirmala Sitharaman has reassured industry that GST remains top priority for the Government. We warmly welcome her strong commitment to ensuring a smooth GST regime,” he noted. He commented that the GST Council’s approval of e-invoice system and integration with e-way bill system shall greatly add to ease in logistics and reduce transaction cost. “The GST Council’s decision to introduce e-invoices shall increase efficiency in paying taxes and further boost the formal economy,” he stated.

In place of multiple documents required presently, introducing GST registration with Aadhar number shall add to ease of doing business. The extension of due date for filing of annual return is widely appreciated as industry found it cumbersome to file the first return having multiple registrations. "Initial delay in tax refunds on export goods has been significantly addressed through special clearance drives. Doing away with multiple authorities and ensuring single point refund disbursement to tax payers shall address the issue of delays, said Banerjee. "With the related institutional systems now in place, the time is right for the GST Council to consider further improvement in GST such as coverage of all sectors and convergence of tax slabs", Banerjee added.

Waman Parkhi, Partner, Indirect Tax, KPMG in India

Proposal for reduction in GST rate on electric vehicles will be sent to the Rate Fitment Committee for recommendations. This is a welcome move, as electric vehicles are definitely the technology for the future and will reduce consumption of fossil fuels and therefore should be incentivized. However, certain other categories of vehicles like auto rickshaws, trucks also need to be incentivized considering their impact on the common man Extending the tenure of the Anti-profiteering body by two more years was a necessity considering pending cases. However, demand by industry for clarity on methodology for anti-profiteering, has still not been addressed by the Government. Moreover after two years of GST , market forces would have already equalized prices making pricing investigations superfluous now.

Abhishek Jain, Tax Partner, EY India

The extension of two months for annual return and audit were much sought for by the industry and its approval comes for as a big relief to businesses; especially in light of the recent clarifications issued. Other in principle approvals of e-ticketing and electronic invoicing, where enforced well, should also help posing checks in tax evasion; but businesses would be keen to understand the precise mechanism of its implementation.

Sachin Menon, Partner and Head, Indirect Tax, KPMG in India

Extension of due date for filing of the first-ever GST annual returns, shall provide a much-needed relief and support to the stakeholders, considering that the returns require to undertake various reconciliations. The two-year extension to the anti-profiteering authority primarily aims to ensure that the benefits of change in rate of tax and benefit of ITC are passed on to the recipient. It would have been more apt if appropriate methodology was also prescribed for determining the profiteering amount.

Mekhla Anand, Partner, Cyril Amarchand Mangaldas

The extension of the NAA’s tenure was logical given the rate reductions that have been announced over the past few months as well as the Government’s intention of rationalising the tax slabs and rates. However the fundamental premise for its existence and operation does continues to be a debatable issue. It is interesting note that the decision on rate reduction for electric motor vehicles has been referred to a fitment committee. This shows a methodical approach to the issue.

Pratik Jain, Partner & Leader, Indirect Tax, PwC India

It is good to see that the decision of the GST council has been taken again with consensus which augment the future of GST in the country. Decision to use aadhar for the purpose of registration is a significant step and could lead to similar linkages with income tax as well in times to come. Decision to implement e-invoicing model means that technology will continue to play a critical role in tax administration. While this system could initially be implemented for B2B segment only, but with e-ticketing for multi-screen cinema halls a similar mechanism is also proposed for B2C segment. If this experiment turns out to be successful, one could see this mechanism getting extended to other B2C segments as well. The decision to extend timelines for filing annual return and audit report for FY 2017-18 is a welcome move as the industry was not prepared for the current deadline of 30 June. While the extension of term of National Anti-profiteering Authority (NAA) by two years was expected, one would hope that the government would come up with detailed guidelines and seek to restrict the same only in case of consumer complaints. There is now a need for GST Council to draw a long-term agenda as to what kind of GST does India need in the coming years.

Santosh Dalvi, Partner and Deputy Head, Indirect Tax, KPMG in India Reference to the fitment committee by the GST council on the issues concerning various facets of electrical vehicles, Solar Power and wind turbines will promote use of non- conventional energy segment. The road map for transition to the new simplified return system will provide sufficient time to the taxpayer to get accustomed to and adopt the new system of compliance.

Ankit Agarwal, Managing Director, Alankit Ltd

The decisions made in the GST’s Council Meeting are a welcome move. In particular, the extension of the due date for filing of the Annual Returns and Reconciliation statement which has been extended to 31 August 2019 is seen as a positive outcome. Many taxpayers in the SME segment who have not done matching of the Input Tax Credit with the GSTR-2A are forced to reverse the ITC, which is a huge loss to the trade and industry. This again proves that GST is not a tax reform but a business process reform. The introduction of e-invoicing is also a major reform which has been proposed to evade tax evasion and it has been implemented globally, and trade has reaped benefits out of it.

Reference News: https://www.firstpost.com/business/gst-council-meet-industry-experts-hail-move-to-extend-tenure-of-anti-profiteering-body-approval-of-e-invoice-system6863141-6863141.html

#alankit #alankitnews #alankitupdate

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abizaprime-blog · 5 years

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Major Highlights of 35th GST Council Meeting

1. GST Annual return filing Due date For the F.Y. 2017-18, extended till August 31, 2019

The due date for filing Annual return of GSTR-9, GSTR-9A, and GSTR-9C for the FY 2017-18 has been extended till 31 August, 2019.

2. Aadhaar-enabled GST Registration introduced:

In order to ease the current process of GST registration and reduce the paperwork involved, GST Council has given a go-ahead to a new system for verification of taxpayers registering themselves under GST. Aadhaar number shall be linked to the GSTIN while generation.

3. 10% penalty to apply for any delay in depositing profiteered amount

GST Council has approved imposing a penalty of up to 10% penalty for delay in depositing the profiteered amount by more than 30 days. This is a fair measure that would encourage timely compliance by the taxpayer.

4. E-invoicing to start from January 2020

The new system for raising all the tax invoices on the GST portal has received in-principle approval for implementation from 1 January 2020. This applies to only B2B invoicing. By this system, no separate e-way bill will be required in case of e-invoice. Returns to be framed from these e-invoices. A phased implementation is being worked out.

Earlier, the government had fixed Rs 50 crore as the limit for the applicability of e-invoicing.

5. E-ticketing made mandatory for multiplexes

Among other major decisions, the GST Council approved the electronic ticketing system, for multiplexes, having multi-screens. This will help curb cases of tax evasion and the use of black tickets that have been prevalent.

5. Rate cut decision on electric vehicles, chargers & leasing thereof deferred; Committee to submit its report

The decision to cut GST rates for electric vehicles and electric chargers have been postponed to the next Council meeting. The matter has been referred to the Fitment Committee for checking the feasibility of the rate cut. At present, the GST rates for electric vehicles and electric chargers are 12% and 28% respectively.

6. GSTAT to be GST Appellate Tribunal.

The GST council also definitively stated the Goods and Service Tax Appellate Tribunal will be the appellate authority and will adjudicate on appeals arising from central and state tax authorities’ in-house dispute resolution system. The states will decide the number of GSTAT required by them as a result of which there can be two tribunals in a single state.

7. For non-filing of GST returns, E-way bills to be blocked

The law stated that where the GST returns in GSTR-3B/ GSTR-4 is not filed for two consecutive tax periods, e-way bill generation for such taxpayers would be disabled. This will be brought into effect from 21 August 2019, instead of the earlier notified date of June 21, 2019.

visit https://www.abiza.in/ for any query

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taxjankari-blog · 5 years

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what is (ई – वे बिल) e way bill in hindi under gst – GST लागू होने के बाद से GST Act में आये दिन अलग – अलग तरह के बदलाव किये जा रहे है जिससे हर वर्ग के लोग चाहे वो व्यापारी (businessman) हो या आम आदमी या कोई एक्सपर्ट हो सभी को परेशानी का सामना करना पड़ रहा है। 1 अप्रैल 2018 से भारत में ई वे बिल (e way bill) सिस्टम (GST E WAY BILL ) लागू किया जा चुका है।

what is (ई – वे बिल) e way bill in hindi under gst

E way bill एक इलेक्ट्रॉनिक way बिल (Bill) है जो कि 50,000 से अधिक के गुड्स की सप्लाई करने पर e way bill portal पर generate करना पड़ेगा। यानि कि अगर कोई भी सप्लायर एक स्थान से दूसरे स्थान पर goods की supply कर रहा है और गुड्स (goods) की value 50,000 से अधिक है, तो उसे गुड्स (goods) की सप्लाई supply करने से पहले e way bill generate करना पड़ेगा।

एक supplier अगर चाहे तो 50,000 से कम गुड्स की सप्लाई (goods की supply) करने पर भी e way bill generate करने का option ले सकता है।

जब भी (ई – वे बिल) e way bill generate किया जायेगा तो एक यूनिक (UNIQUE) e way bill नंबर ( EBN ) दिया जायेगा, जिसकी detail सप्लायर, प्राप्तकर्ता और ट्रांसपोर्टर को प्राप्त होगी।

e way bill को दो पार्ट्स (two part) में डिवाइड किया गया है – PART A & PART B.

गुड्स की मूवमेंट से पहले फॉर्म (Firm) gst ewb – 01 के PART A की डिटेल ऑनलाइन भरी जायेगी। PART A की डिटेल भरने के बाद एक यूनिक नंबर दिया जाता है जो कि 72 hours तक वैलिड रहता है। यानि कि part a की डिटेल भरने के बाद 72 hours तक फॉर्म gst ewb – 01 के PART B की डिटेल update की जा सकती है।

इन Parts में गुड्स (goods) प्राप्तकर्ता के जीएसटी GST नंबर, goods की डिलीवरी का स्थान, invoice नंबर, इनवॉइस की Date, गुड्स की वैल्यू , HSN कोड, transport किया जाने का कारण ( सेल, ब्रांच ट्रांसफर,एक्सपोर्ट या इम्पोर्ट, सेल रिटर्न आदि ), ट्रांसपोर्ट डॉक्यूमेंट नंबर और जिस गाड़ी में गुड्स ट्रांसपोर्ट किये जा रहे है उसके नंबर क्या है, के बारे में जानकारी भरी जाएगी।

यह जरुरी नहीं है कि e way bill गुड्स (Goods) को बेचने के लिए ट्रांसपोर्ट transport किये जाने पर ही generate किये जाये। e way बिल गुड्स (goods) की सप्लाई पर generate किया जायेगा जिसमे सेल, एक्सचेंज/बार्टर, sales return, (सेल) ब्रांच ट्रांसफर आदि को शामिल (add) किया जायेगा।

Who can issue e way bill –

E way bill रजिस्टर्ड पर्सन, Unregistered पर्सन या Transporter किसी के भी द्वारा जारी (issue) किया जा सकता है।

यदि एक सप्लायर (supplier) गुड्स (Goods) ट्रांसपोर्ट कर रहा है चाहे अपने वाहन में या किसी अन्य के वाहन में तो उसे गुड्स ट्रांसपोर्ट

(goods transport) करने से पहले ई वे बिल generate करना पड़ेगा।

अगर सप्लायर (supplier) किसी अन्य के वाहन में गुड्स ट्रांसपोर्ट (goods transport) कर रहा है और सप्लायर (supplier) के द्वारा ई वे बिल generate नहीं किया जाता है तो e way bill जारी (issue) करने की जिम्मेदारी ट्रांसपोर्टर (transport) की हो जाती है।

ट्रांसपोर्टर गुड्स को Air, रोड. या रेल किसी भी तरह से ट्रांसपोर्ट (transport) कर सकता है। यदि ट्रांसपोर्टर (transport) द्वारा एक से अधिक consignment ले जाये जा रहे है तो उसको एक consolidate e way bill जारी (issue) करना पड़ेगा जिसमे उसके द्वारा ले जाये जा रहे सभी e way bill (ई वे बिल) के नंबर भरे जायेंगे।

अगर गुड्स (Goods) किसी Unregistered पर्सन के द्वारा किसी रजिस्टर्ड पर्सन को ट्रांसपोर्ट(transport) किये जा रहे है तो उस Unregistered पर्सन को भी ई वे बिल जारी करना जरुरी है।

इसके अलावा रजिस्टर्ड (registered) पर्सन ( रिसीवर ) को भी उन सभी compliance के बारे में सुनिश्चित रहना होगा जो कि एक रजिस्टर्ड (registered) पर्सन के द्वारा गुड्स ट्रांसपोर्ट (Goods transport) किये जाने पर जरुरी होते।

यदि किसी e way bill को generate करते समय उसमे कुछ गलती हो जाती है, तो इसे वापस से edit करके इसमें सुधार नहीं किया जा सकता। इसको सही करने के लिए आपको इसे कैंसिल करना होगा और दुबारा generate करना होगा।

ई वे बिल (E way bill) कब जारी (issue) नहीं किया जायेगा ? E way bill (ई वे बिल) not required to issue –

ई वे बिल (E way bill) जारी (issue) नहीं किया जायेगा –

1. यदि गुड्स (goods) बिना मोटर के वाहन में ट्रांसपोर्ट (transport) किये जा रहे हो।

2. यदि Goods कस्टम द्वारा port, एयरपोर्ट, एयर कार्गो complex या land कस्टम स्टेशन से inland container depot (ICD ) या container freight station (CFS ) के clearance के लिए ट्रांसपोर्ट (transport) किये जा रहे हो।

3. Specified goods का ट्रांसपोर्ट (transport) किया जा रहा हो।

4. गुड्स (Goods) रेल द्वारा ट्रासंपोर्ट (transport) किये जा रहे हो और उनको ट्रांसपोर्ट (transport) सेंट्रल गवर्नमेंट, स्टेट गवर्नमेंट या लोकल अथॉरिटी द्वारा किया जा रहा हो।

documents required for e way bill

E way Bill (ई वे बिल) ऑनलाइन (online) generate करने के अलावा sms और एंड्राइड एप्प के द्वारा भी generate किया जा सकता है।

इसे generate करना बहुत ही आसान है। ई वे बिल किसी के भी द्वारा जारी किया जा रहा हो इसे generate करने के लिए आपके पास आवश्यक दस्तावेज होने आवश्यक है जिनकी लिस्ट नीचे दी गयी है –

1. ट्रांसपोर्ट (transport) किये जा रहे गुड्स के सम्बन्ध में इनवॉइस/बिल ऑफ़ सप्लाई/चालान,

2. जिस पर्सन के द्वारा ई वे बिल generate किया जा रहा है उसके रजिस्टर्ड मोबाइल नंबर, और

3. गुड्स, रिसीवर और ट्रांसपोर्टर की डिटेल आपके पास में E way Bill generate करने के समय होनी चाहिए।

ई वे बिल (e way bill) जारी (issue) करने के कितने समय तक Validity रहता है ?–

ई वे बिल की वैलिडिटी –

• 100 किलोमीटर (KM) से कम दूरी होने पर – एक दिन के लिए

• 100 किलोमीटर (KM) से ज्यादा दुरी होने पर – प्रत्येक अतिरिक्त 100 किलोमीटर (KM) या उसके पार्ट के लिए एक अतिरिक्त दिन बढ़ा दिया जायेगा।

ई -वे Bill की वैलिडिटी उसको generate किये जाने की Date और टाइम से कैलकुलेट की जाती है। किसी specified गुड्स के सम्बन्ध में नोटिफिकेशन आने पर उसके सम्बन्ध में generate किये गए e way bill की वैलिडिटी validity कमीशनर द्वारा बढ़ायी जा सकती है।

यदि गुड्स (Goods) निर्धारित की गयी समय सीमा तक ट्रांसपोर्ट (transport) नहीं किये जाते है तो वह ई वे बिल कैंसिल हो जाता है और उसके बाद एक नया E way Bill generate करना पड़ता है।

ई वे बिल (E way Bill) की वैलिडिटी को कब बढ़ाया जा सकता है ? When to extend e way bill validity?

यदि कन्साइनमेंट निर्धारित समय (fix time) में गंतव्य (destination ) तक नहीं पहुँच पाता है, तो जनरेटर या transporter ई वे बिल (E way Bill) की वैलिडिटी को extend कर सकता है।

लेकिन validity तब ही extend की जा सकती है जब कन्साइनमेंट समय (time) पर नहीं पहुँचने का कारण निम्न में से कोई हो, –

• वाहन के ख़राब होने के कारण,

• natural कारण,

• वाहन के रास्ते में होने पर जारी किये गये Law या order की वजह से,

• वाहन का accident ��ोने पर, या

• Trans- shipment में देरी होने के कारण।

अगर ऊपर बताये गए किसी कारण से कन्साइनमेंट समय से नहीं पहुँच पाता है, तो generator या transporter बिल के expiry time के समाप्त होने से 8 घंटे (Hour) के भीतर या time समाप्त होने के 8 के भीतर e way bill (ई वे बिल) validity को extend कर सकते है।

क्या e way bill (ई वे बिल) के नहीं होने पर पेनल्टी (penalty) लगायी जा सकती है ?

यदि ई वे बिल को generate नहीं किया जाता तो यह माना जायेगा कि करदाता ने जीएसटी के नियमो की पालना नहीं की। तो इस केस में उस पर्सन पर पेनल्टी लगायी जायेगी। पेनल्टी 2 तरह की लगायी जा सकती है (1 ) monetary penalty (2 ) NON monetary penalty

(1 ) Monetary penalty – यदि कोई पर्सन invoice और e way bill के गुड्स को ट्रांसपोर्ट करता है, तो उस पर पेनल्टी लगायी जायेगी, जो कि इन दोनों में जो भी higher होगा –

• rs 10000 या

• 100 % of tax

इसका मतलब ��ह है कि ई वे बिल नहीं होने पर कम से कम 10000 तक की पेनल्टी तो लगायी ही जायेगी।

(2 ) NON monetary penalty (detention or seizure ) – यदि गुड्स बिना e way बिल के ट्रांसपोर्ट किये जा रहे है, तो जिस वाहन में उन्हें ले जाया जा रहा है, उस वाहन को भी जब्त किया जा सकता है। और उस वाहन को तब ही release किया जायेगा जब उस पर टैक्स और पेनल्टी का पेमेंट किया जायेगा।

Source :- https://taxjankari.com

#E Way Bill in Hindi

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untitled74444-blog · 5 years

Link

In its first meeting under new Finance Minister Nirmala Sitharaman, the GST Council has extended the deadline for filing annual returns by two months. The all-powerful council decided to extend the deadline to file forms GSTR-9, GSTR-9A and GSTR-9C till August 30, 2019. The earlier deadline to file these returns was June 30, 2019.

"We had received several representations from trades and businesses that they need some more time because this is the first time they will be filing the (annual) returns. So, considering their difficulties, the GST Council has extended the date by two more months. Now the annual returns will be filed by August 30, 2019,"

The annual returns in Form GSTR-9 and the reconciliation statement in Form GSTR-9C are filed by normal taxpayers, where composition taxpayers file their returns via Form GSTR-9A. The proposal presented before the GST Council called for extending the deadline in a staggered manner for different classifications of taxpayers, but the council agreed to a single date for all of them.

During its meeting, the GST Council also decided to introduce a new return system with a single return form for every month. To this end, the Form GSTR-3B will be discontinued in a phased manner. The council has decided to introduce forms GST ANX-1 and GST ANX-2 along with GST RET-01 and GST PMT-08 to help with the transition. The new single GST return form will be implemented for all by January 1, 2020.

The GST Council also gave its in-principle approval to develop an e-invoicing portal to upload invoices and e-way bills under the GST system

The GST Council also decided to extend the deadline to furnish the declaration in Form GST ITC-04, relating to job work till August 31, 2019, in order "to provide sufficient time to the trade and industry".

The Council also decided to block e-way bills of taxpayers who have failed to file their tax returns for two consecutive tax periods. The decision will be brought to effect from August 21, 2019 under Rule 138E of the CGST rules.

For best accounting and taxation classes in nagpur visit www.aiatindia.com

#taxation course in nagpur accounting course in nagpur taxation training in nagpur accounting training in nagpur tally erp 9 training practi

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lawcrux321-blog · 5 years

Text

Highlights of CGST Amendment Act,2018 to 1 February,2019

GST Highlights 31st Jan. 2019

Patanjali dealer fined for not passing on GST rate cut to consumers The dealer further argued that he had only charged 5 per cent commission which he had been doing since before GST came to force, adding that he did not profiteer. A dealer of Patanjali Ayurveda has been held by the National Anti-profiteering Authority (NAA) for not passing on the benefits of duty reduction to his customers. The GST profiteering watchdog has asked the dealer to deposit the undue profit made with the Consumer Welfare Fund. The dealer has been asked to deposit Rs 6.06 lakh along with an interest of 18 per cent liable from the date this amount was realised by him from his customers till the date he deposits it in the Consumer Welfare Fund.

Highlights of CGST Amendment Act, 2018 Changes will be effective from 1st Feb 2019.[/caption]

Proposal to encourage taxmen to file GST profiteering complaints on anvil The GST officials are working out mechanism to prompt taxmen to initiate profiteering complaints, which could be taken up for further investigation by the Directorate General Anti-Profiteering. Currently, only consumers file complaints against businesses for not passing on the benefits of reduction of the rates of Goods and Services Tax (GST) on various products.

Kerala budget , Finance Minister Thomas Isaac says floods, GST have hit fiscal health A day before he presents the all-important state budget for the 2019-20 fiscal year, Kerala finance minister TM Thomas Isaac underlined that the economic impact of the devastating floods last year coupled with poor implementation of the Goods and Services Tax (GST) and internal leakages in the collection of VAT has affected the state’s fiscal health.

Case Law

Sai Shipping Services

Versus

Commissioner of Central Excise, Jaipur

Summary of Case: *

Valuation, Incentives, Customs House Agent - The appellant got Incentives from the ICD through which cargo were shipped. The department has brought this amount under service tax liability. Incentive was already known to the appellant. The payment is not ad hoc, it was pre-fixed on the basis of the quantum of containers handled by the appellant. When the incentives for promotion of the business of the ICD is paid and it was pre-decided then the same is chargeable to service tax. Appeals dismissed (Para 4)

for details click here

Impacts of GST Amendment Act, 2018 which will be effective from 1st Feb, 2019

1. Section 7:- The activity must first be covered in definition of supply then it is to be classified as goods or services as per Schedule II .

2. Section 9:- Section 9(4) substituted as follows:- Govt. may specified goods or services supplied by unregistered person under reverse charge u/s 9(4). Thus, Section 9(4) to be applicable only for specified class of registered persons in case of specified goods or services to be notified later.

3. Section 10 :- Maximum limit for composition levy that can be extended by the Govt has been increased upto 1.5 Crore from 1 crore. However till now threshold limit for composition levy is still Rs 1 crore.

Further, by adding proviso a person under Composition levy (other than restaurant services provider specified in para 6(b) of schedule II) can also supply service but not exceeding 10% of turnover in previous financial year or Rs 5 lakh (which ever higher)

4. Section 16 :- where the services are provided by the supplier to any person on the direction of and on account of such registered person then it shall be deemed that the registered person has received the service.

5. After amendment in Section 17(5) , (i) the ITC in relation to motor vehicle having seating capacity more than 13 persons is allowed. (ii) It is specifically provided that ITC on repair , Insurance and other expenditures relating to ineligible motor vehicle u/s 17(5) are also not allowed. whereas ITC in respect of said services are available to the manufacturer of such motor vehicle and the person providing General Insurance of services in respect of such motor vehicle. (iii) ITC on leasing & renting , hiring of motor vehicle is not allowed except on which ITC is allowed.

6. Section 22 :- (i) Govt. may increase the limit for registration in special states from 10 lakh to upto 20 lakh. (ii) After excluding 6 states from special category states now it includes only Manipur, Mizoram, Nagaland, Tripura.

7. Section 25 :- A person having unit in SEZ is required to take separate registration for another unit even if it is located in same state o/s SEZ. Person having multiple places of business in a state/UT may obtain separate registration for each such place of business subject to certain condition as specified in Rule 11.

8. Section 29:- During pendency of the proceedings relating to cancellation of registration, the proper officer may suspend the registration for such period and in such manner as may be prescribed. Further as clarified in Rule 21A inserted vide Notification No. 03/2019 – Central Tax dt. 29.01.2019 during suspension and pendency of proceedings regarding cancellation of registration the person is not required to make any taxable supply or furnish any return during that period.

9. Section 34:- Now you can issue one or more Credit note/Debit note for one or more invoice for a financial year. Thus, periodic debit/credit notes can now be issued for multiple invoices.

Further in Rule 53 vide Notification No. 03/2019 – Central Tax dt. 29.01.2019 separate list for contents for credit note and debit note is inserted to give impact of issue of one credit note and debit note for multiple invoices.

10. Section 49 :- The credit balance of SGST and UGST can be utilized for payment of IGST only if the balance is not available in CGST.

11. Section 107:- For filing an appeal to Appellate Authority the appellant is required to pay an amount @ 10% of disputed amount of tax or 25 crores whichever is less.

12. Section 112:- For filing an appeal to Appellate Tribunal the appellant is required to pay an amount @ 20% of disputed amount of tax or 50 crores whichever is less.

13. Section 129:- Tax and penalty shall be paid within 14 days of detention or seizure of conveyance u/s 129(1).

14. Section 140:- Only CENVAT credit of eligible duty in the earlier return can be carried forward in GST. Further for removal of doubts, it is hereby clarified that the expression “eligible duties and taxes” excludes any cess which has not been specified in Explanation 1 or Explanation 2 and any cess which is collected as additional duty of customs under sub-section (1) of section 3 of the Customs Tariff Act, 1975 w.e.f. from 1st july, 2017.

15. Section 143:- Period of received back of goods from job worker i.e. 1/3 years may be extended by the Commissioner for 1 /2 years respectively on sufficient cause.

16. Schedule I :- Now import of service by any person from related person o/s India for the purpose of business is considered as supply.

17. Following supplies are included in Schedule III:- 1. Export & import o/s India 2. High seas sale 3. Supply of warehousing goods to any person before clearance for home consumption.

IGST Amendment ACT, 2018

1. In section 12(8) of IGST act :- By insertion of proviso Place of Supply relating to transportation of goods to a place outside India has changed from location of recipient to destination of goods.

FTP

Trade Notice No.43/2018-19 dt. 30.01.2019

Sub:-Application in ANF -2D submitted for seeking policy-procedure relaxation in teams of para 2.58 of the FTP.

for details click here

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monicasharmalove · 4 years

Text

GST collection slips below Rs 1 trillion in March after four months

The numbers pertain to GST paid in February but collected in March, suggesting that collections might turn grimmer going forward.

Kerala Finance Minister Thomas Isaac told Business Standard that the April numbers, which would essentially be transactions in March would only be about 15-20 per cent of the March figures.

#Goods and services tax gst collection economic slowdown indian economy Coronavirus

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swedna · 5 years

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Plugging tax evasion and consumer welfare took centre stage in the first meeting of the Goods and Services Tax (GST) Council under the chairmanship of Finance Minister Nirmala Sitharaman on Friday.

The Council, during the half-day meeting, imposed stiff penalties on companies not passing on the rate cut benefits to consumers, besides giving a two-year extension to the National Anti-Profiteering Authority (NAA), whose term would have expired in November.

However, experts said the council should come up with a methodology of calculating the profiteered amount. Without this, there is arbitrariness.

To plug tax evasion, measures like using Aadhaar for registration, voluntary electronic invoicing and mandatory electronic ticketing for movie theatres were approved.

“The decision to use Aadhaar for registration is a significant step and could lead to similar linkages with income tax,” said Pratik Jain, partner, PwC India.

As for reduction in rates on electric vehicles from 12 per cent to 5 per cent and for chargers from 18 per cent to 12 per cent, the matter was referred to the fitment committee. “The view was that protocol was not followed as the matter was not discussed by the fitment committee,” said a government official. The contentious issue of a uniform GST rate on lotteries has been referred to the attorney general (AG) of India. Kerala FM Thomas Isaac in his speech in the Council threatened to press for voting in case the matter was pushed forward. “So far all decisions in the Council have been taken by consensus. I hope this tradition is maintained. In case the agenda is pushed forward, I will be failing in my duty if I don’t demand a division,” Isaac said.

Sitharaman said the issue of lotteries had been referred to the AG in the context of the ruling by the Calcutta high court and Article 304 of the Constitution.

The high court had rejected a plea that the council cannot impose GST on lotteries.

Article 304 allows a state to impose the same tax rate on imported goods and goods produced in the state. Punjab raised the matter related to Article 304.

“The issue relates to consumption. If the consumers of both the lotteries, private and state, are the same, then how can there be two rates,” asked a government official.

Regarding the decision on anti-profiteering, at present, Rs 25,000 is imposed as penalty on the company which has profiteered the amount if the amount is not deposited.

Now, the company has to deposit 10 per cent of the profiteered amount if the money is not deposited within thirty days of passing the order. This is to ensure that rate cuts are passed on to the consumers, said Revenue Secretary Ajay Bhushan Pandey.

At the meeting on Friday, in-principle approval was given to the proposal of e-invoicing. The Council has re-proposed the system. The GST Council was working on various models for electronic invoicing.

Pandey said e-invoices could be generated on portal and that invoice could itself act like a e-way bill. Because it is on portal, collection of invoice can become return.

“That is the system which we will work on. The GST Council has given in-principle approval for electronic invoicing system,” Pandey said.

It also approved e-ticketing for multi-screen cinema halls mandatory. This will be convenient for consumers and will also ensure that the state government and Centre get proper revenues.

Even as the GST collections crossed Rs 1 trillion for a third straight month in May, revenue collections are still a challenge.

The NAA had earlier told the Council that about 354 cases are currently under its investigation.

“While the extension of term of the National Anti-Profiteering Authority (NAA) by two years was expected, one would hope that the government would come up with detailed guidelines and seek to restrict the same only in case of consumer complaints,” said Jain.

Abhishek Rastogi, partner at Khaitan & Co, said, "With this extension, it becomes all the more important to have the complete methodology to compute quantum of profiteering."

The council also approved the new timelines of simplified returns that will replace the current forms. The new forms would replace the current ones fully by January 2020.

It also extended last date of filing of annual returns by two months till August 2019.

Archit Gupta, founder and chief executive officer, ClearTax, said “businesses were struggling with GSTR-9 filing, now there is sufficient time to focus on this important return and finish compliance in time. ... It is good to see that there is continued focus on simplification of GST Returns, ITC credit will move to the new system in a phased manner. It should not be held up in transition, we are expecting ITC mechanism to be clearly laid out for the transition phase”.

It also incorporated into GST laws various decisions taken by the Council in its earlier meetings such as increasing threshold of registration.

Meanwhile, the council passed a resolution acknowledging the role played by former union finance minister Arun Jaitley and expressed its gratitude and appreciation for the contribution made by him in making the GST Council a shining example of co-operative federalism that it has become today.

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