Form GSTR-9C notified
GST REGISTRATION In Delhi/NCR, The Central Government vide Notification No. 49 /2018 –CT dated 13th September, 2018 has notified Part A- FORM GSTR-9C – Reconciliation Statement and Part B-Certificate” to be certified by the Chartered Accountants, which is applicable in case of taxable person whose aggregate turnover during a financial year exceeds Rs. 2 crore.
It is required to be submitted on or before 31st Dec 2018.
TDS/TCS provisions effective from 1st October 2018
GST CONSULTANT in Delhi/NCR, The Central Government vide Notification No. 50 /2018 –CT dated 13th September 2018 has notified 1st October 2018, as the date on which the provisions of section 51 (Tax deducted at source) will be effective with respect to a department of central/State Government, local authority, governmental agencies and notified persons as specified below:
An authority or a board or any other body, –
Set up by an Act of Parliament or a State Legislature; or
Established by any Government, with fifty-one percent or more participation by way of equity or control, to carry out any function;
The society established by the Central Government or the State Government or a Local Authority under the Societies Registration Act, 1860 (21 of 1860);
Public sector undertakings.
Therefore, w.e.f 1st Oct 2018, above notified persons are required to deduct TDS @1% each in case of intrastate and 2% in case of interstate supply for a total value of supply exceeding Rs. 2.5 Lacs under a contract and the amount so collected shall be paid to the Government by the deductor within 10 days after the end of the month in which such deduction is made. GST RETURN in Delhi/NCR
Comments: TDS deposited will flow from Electronic Cash Ledger of Deductor to the Electronic Cash Ledger of the deductee by the process of GSTR-7 returns. Deductor will not need to be registered in every State but will be able to pass the amount deducted as CGST-SGST or as IGST into any State where the deductee is supplying from. The working of this form of the flow of amount in GSTN will be very interesting to note.
GST AUDIT services in Delhi/NCR, Also, the Central Government vide Notification No.51/2018 –CT dated 13th September 2018; Notification No. 52/2018 – CT dated 20th September, 2018 has notified that w.e.f 1st Oct, 2018 an e-commerce operator is required to collect TCS @ ½% each (CGST /SGST) of the net value of intra-State taxable supplies and 1% GST of the net value of interstate taxable supplies, made through it by other suppliers where the consideration with respect to such supplies is to be collected by the said operator and the amount so collected shall be paid to the Government by the operator within 10 days after the end of the month in which such collection is made. GST REFUND services in Delhi/NCR
Comments: TCS will not apply to ‘own website’ sales. There are websites that are mere ‘information portals’ and which do no handle the consideration flowing from Customer to Supplier. Registration is mandatory to those eCommerce Operators to whom TCS applies. But, it is not another kind of registration for TCS purposes, in case they are already registered for other purposes. The only requirement is that the benefit of a threshold cannot be availed by eCommerce Operators and Suppliers supplying through such eCommerce Operators.
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