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*COVID-19 Update*: *PM address to the Nation on COVID-19*

_PM congratulated the country on fight against Corona Virus_

PM informed regarding various initiative taken by the government to fight against the virus spread. PM informed that in comparison to other developed nations in the world, India is in strong position and the spread is still under control.

*Lock-down Extention*:
Social distancing and lock-down has helped India a lot, althought the lock-down has costed India economically dearly but it has no value in front of life of Indian citizens. Basis discussion, *PM has extended lock-down till 3 May 2020*.

*Relaxations & Restrictions:*
No information has been given by PM regarding any relaxation. Hence it can be concluded that no relaxations has been extended and lock-down shall be extended in "As-Is" form.
In next 7 days, if it is found that any area is green zone with no cases, few relaxations may be extented. But if any lapses were observed, the relaxations will be removed. *Detailed guideline to be released by tomorrow.*

*PM shared "7 baaton mey bharat varsh ka sath" with the nation:*
1. Take special care of elderly
2. Follow Lockdown & social distancing
3. Use Home Made Mask & Increase Immunity
4. Download Arogya Setu Mobile App
5. Help Poor to the extent possible
6. Have empathy towards people working in your business
7. Salute "CORONA WARRIORS" of India.

Summary of the meeting of November 10, 2017

*Composition scheme expanded*
Threshold for Composition scheme to be increased to Rs. 1.5 Crores. Uniform tax rate of 1% applicable for both traders and manufacturers. Composition suppliers allowed services upto Rs. 5 lakh per annum for eligibility. Exempted supply not to be taxed at 1%.

*Returns*

Filing of Form GSTR 2 and GSTR 3 has been suspended for the current financial year. Only GSTR 1 is to be filed as per the below schedule.

For suppliers having turnvover below 1.5 crores,
For the period of July to Sept - 31st Dec 2017
For the period of Oct to Dec - 15th Feb 2018
For the period of Jan - Mar - 30th Apr 2018

For suppliers having turnvover more than 1.5 crores,
For the period of Jul to Oct - 31st Dec 2017
For the month of Nov - 10th Jan 2018
For the month of Dec - 10th Feb 2018
For the month of Jan - 10th Mar 2018
For the month of Feb - 10th Apr 2018
For the month of Mar - 10th May 2018

Filing of return in Form 3B to be continued till March. For small taxpayers, return to be simplified. It is not clear whether small suppliers will have to file monthly or quarterly (as proposed in the last meeting).

A committee to simplify details of GSTR 2 and GSTR 3 will be setup.

*TRAN-1 date extended *
The due date of TRAN-1 has been extended to December 31, 2017.

*Penalties reduced*
Rate of penalty for delay in filing of returns will be reduced from Rs. 200 per day to Rs. 20 per day for suppliers with nil returns. For others, penalty to be reduced to Rs. 50 per day.

*GSTR-4 extended*

Due date for return of suppliers covered in composition scheme in Form GSTR-4 has been extended to 24th December 2017.

*Changes in Rates*

1. 5% Tax on all Restaurants other than 5-Star *without ITC*

2. Rates reduced for 178 items from 28% to 18% effective Nov 15, 2017.
- Washing Machines
- Air Conditioners
- Make up
- Sanitary Items
- Marble/flooring
- Toiletries

3. Rates reduced from 28% to 12%
- Wet grinders
- Armoured fighting vehicles

4. Rates reduced from 18% to 12% for 13 items, from 5% to 0% for 6 items, from 12% to 5% - 8 items.

CS NIKHIL RASTOGI LLB
9548888558

Audit extention.....

https://youtu.be/4mmRxCoo1ok

Penalties and late fees under GST Penalties up to 25000/- & last fee 100/- per day up to 5000/- and 0.25% of turnover as case may be.

*ARE YOU READY TO FILE GST RETURN FOR JULY MONTH* ( क्या आप जुलाई माह की GST Return फाइल करने के लिए तैयार है)

जुलाई महीने की GST Return *20th August* तक Form 3B मे फाइल करनी है चूंकी GST की मासिक (monthly) detailed Returns को September मे Postpone कर दिया है।

क्या जरूरी है GST 3B फाइल करने के लिए??
1) Outward Taxable Supply
A) Unregistered persons
B) Composition Taxable persons
C) Others
2) Outward zero rated Supply
3) Outward Nil rated/Exempted Supply
4) Inward Supply (under reverse Charge)
5) Non GST Supply
6) Input Tax Credit (ITC) Available
7) ITC reversed
8) Inward supply
A) from Composition Dealer
B)Nil rated/ Exempt inward Supply
C)Non GST inward supply
9) Payment of Tax
A) Integrated
B) State
C) Central

*First Return of GST*

*Note: If you have no outward supply ( sale) still you have to file return as NiL*

*Income Tax Returns Update*

CBDT has started accepting the ITR without Linking of PAN & Aadhaar. Due to many issues in Linking of Aadhaar with PAN because of Name, D.O.B., Gender etc. Mismatch; people are facing issue to Link Aadhar & PAN. Considering the Last days to file ITR for non-Tax Audit Returns; Now Income Tax Department is Accepting those Returns where Aadhaar Number is not Linked However you have to Mentioned Aadhaar Number.

Please share This News Maximum so that Everyone Can take benefit of this news.

*JULY 1 WILL CHANGE YOUR WORLD: BE PREPARED FOR CHANGES OTHER THAN GST*

Economic times | Jun 28, 2017, 03.30 PM IST

NEW DELHI: July 1 is set to enter into history books, and not just for the Goods and Services Tax (GST). A number of other major changes will happen from this date.

Here is a list of changes that are coming into effect on July 1:

1=> *No filing of I-T return without Aadhaar*:
The government has made it compulsory to mention Aadhaar for filing of income tax return. Without Aadhaar, you won't be able to file your return after July 1.

2=> *Linking of Aadhaar with PAN becomes mandatory*:
The government has also made it compulsory to link Aadhaar with PAN to stop people using multiple PANs to evade taxes. If a person does not link PAN and Aadhaar as mandated by Section 139AA of the Income Tax Act, his PAN could become invalid.

3=> *No PAN card without Aadhaar*:
Aadhaar becomes must for getting new PAN. You won't be able to get a PAN card after Saturday without your Aadhaar card.

4=> *No passport without Aadhaar card*:
Ministry of External Affairs has listed Aadhaar card as one of the mandatory documents for applying for a passport. So you won't be able to get your passport without Aadhaar from July 1.

5=> *Aadhaar-PAN linking made mandatory from July 1*:
Here's all you need to know
Aadhaar-PAN linking made mandatory from July 1.

6=> *Linking PF account with Aadhaar*:
Employees' Provident Fund Organisation (EPFO) has made it compulsory to link PF account with Aadhaar by June 30. Pensioners are also asked to furnish Aadhaar details. According to EPFO, Aadhaar linking is expected to make the withdrawal and settlement process time much shorter, from existing 20 days to 10 days.

7=> *No concession on railway tickets*:
To plug misuse and leakages, Indian Railways have made it mandatory to quote Aadhaar from July 1 to avail concessions on railway tickets.

8=> *Scholarships for schools and colleges*:
HRD ministry has also issued a notification that school and college students, who want to get government scholarship or are already getting it, should furnish Aadhaar details by June 30. After that, scholarships would not be given to any student who doesn't have Aadhaar.

9=> *No PDS benefit without Aadhaar*:
Public distribution benefits have been linked to Aadhaar. Individuals will have to link Aadhaar with ration cards before July 1 to get all the PDS subsidy benefits.

10=> *No departure form for flyers from July 1*:
Indians flying abroad will not be required to fill departure cards from July 1. The move is aimed at ensuring hassle-free movement and reducing the time required to complete immigration formalities.

11=> *Expat tax in Saudi Arabia from July 1*:
Saudi Arabia is introducing a monthly expatriate levy on the dependents of expatriates from July 1. The fee will be 100 riyals (around Rs 1,721) per dependent this year. It will be doubled to 200 riyals per dependent from July next year, tripled to 300 riyals in 2019 and quadrupled to 400 riyals from July 2020.

12=> *New curriculum for CA*:
Prime Minister Narendra Modi will launch on July 1 a new syllabus for those studying to become chartered accountants. The new syllabus is in accordance with International education standards of the International Federation of Accountants and also includes new taxation system, the GST.

13=> *Online visitor visa for Indians flying to Australia*:
The Australian government has announced that Indian visitors can apply for a visitor's visa online starting July 1. The online visa facility is expected to fasten the approval process.

Ministry of Corporate Affairs vide notification dated June 22, 2017 has made an amendment to the Companies (Audit and Auditors) Rules, 2014 whereby a relaxation has been provided to the Private Companies with regard to the appointment of Statutory Auditor.

Prior to this amendment, all private limited companies having paid up share capital of rupees twenty crore or more were not allowed to appoint an individual as auditor for more than one term of five consecutive years or an audit firm as auditor for more than two terms of five consecutive years.

Pursuant to the aforesaid notification, the limit of paid up share capital of rupees ‘twenty crore or more’ has been revised to ‘rupees fifty crore or more’ subsequent to which the private companies having paid up share capital of less than rupees fifty crore (Rs.50 crore) shall not be required to comply with the provisions of Section 139(2) regarding rotation of auditors.

https://youtu.be/QkPAn-6pdsg

Relief for industry: GST Council gives 2 months relaxation for filing of GST returns.....

GST Council gives relaxation of 2 months for filing of GST returns “The official implementation of GST will take place on the midnight of June 30th in an official ceremony to be held on the same day,” FM Arun Jaitley said.

Gst Council meeting Updates

●Composition Scheme limit increased to 75 Lakh from 50 Lakhs for all the 3 categories Traders, Mag . And Restaurants.
●Agarbatthi @5% from 12%
●Insulin @5% from 12%
●Kaju @5% from 12%
●School bag @18% from 28%
Tractor Componants@ 18% from 28
●Below Rs. 100 movie tickets @18% others 28%
Cuttlery 12% from 18%
Achar, Murrabaa 12% from 18
Note Book 12%from 18%
New Rules - antiprofiteering in Making.
Next meeting will be on 18 June 2017 Next Sunday

Aadhaar Card Is Mandatory For Filing Returns Of Income: CBDT Interprets Supreme Court’s Verdict On S. 139AA Linkage Of Aadhaar Card With PAN

The CBDT has issued a press release dated 10th June 2017 in which it has explained the implications of the Supreme Court’s verdict in Binoy Visam vs. UOI dealing with the constitutional validity of section 139AA of the Income-tax Act which makes the linkage of Aadhaar Card with the PAN. The CBDT has inter alia taken the view that from July 1, 2017 onwards, every person eligible to obtain Aadhaar must quote their Aadhaar number or their Aadhaar Enrolment ID number for filing of Income Tax Returns as well as for applications for PAN.

Transition Rules simplified....

1. Persons entitled to take transition credit will have to submit a declaration within 90 days (upto 30th Sept) specifying the credit he wants to take on stocks lying with him on 30th June.

2. Declaration will have to be submitted in from GST Tran-1

3. Commissioner can extend this timeline by another 90 days

4. In case of capital goods whose part credit was availed in current period and part credit is to be availed under GST, he will have to submit the declaration specifying:
a. Amount of credit already availed in the current law
b. Amount of credit yet to be availed under the existing law and which he intends to avail under GST period

5. Persons having excise invoices for stocks lying as on 30th June will be entitled to take full credit of excise mentioned in the invoices

6. Deemed Credit:
Persons who do not have excise invoice, will be eligible to take credit in the following manner:
a. For goods taxable @ 18% or above - Credit shall be allowed at the rate of 60% of CGST payable on that goods – so if the rate is 18% then credit will be available @ 5.4% (60% of 9% CGST)
b. For goods other than above - Credit shall be allowed at the rate of 40% of CGST payable on that goods – so if the rate is 12% then credit will be available @ 2.4% (40% of 6% CGST)

7. Credit in the above Deemed Credit scheme will be available only once the said goods are sold and GST is paid. It’s like a cash back scheme.

8. To take the credit in this scheme following conditions will have to be fulfilled:
a. such goods were not unconditionally exempt from excise
b. the document for procurement of such goods is available
c. the stock of goods on which the credit is availed is so stored that it can be easily identified by the registered person.

9. Deemed credit scheme will go on for 6 months from GST date, so stocks lying as on 30th June have to be sold maximum upto 31st December, 2017. No credit will be available if these goods are sold after December 2017.

10. Separate return under for GST TRAN-2 will have to be filed.

11. Every person to whom the provision of section 142 (11) (c) applies, shall submit a declaration within 90 days of GST date in form GST TRAN-1 furnishing the proportion of supply on which VAT or service tax has been paid before the GST day but the supply is made after the GST day, and the ITC admissible thereon.

12. Every person to whom the provisions of section 141 (Jobworker) apply shall, within 90 days of the GST day, submit a declaration electronically in form GST TRAN-1, specifying therein, the stock held by him on the appointed day.

13. Every person having sent goods on approval under the existing law and to whom section 142 (12) applies shall, within 90 days of the appointed day, submit details of
such goods sent on approval in form GST TRAN-1.

https://youtu.be/lRLsQdd1PXc

...
0% GST Rates Items – गेहूं, चावल, दूसरे अनाज, आटा, मैदा, बेसन, चूड़ा, मूड़ी (मुरमुरे), खोई, ब्रेड, गुड़, दूध, दही, लस्सी, खुला पनीर, अंडे, मीट-मछली, शहद, ताजी फल-सब्जियां, प्रसाद, नमक, सेंधा/काला नमक, कुमकुम, बिंदी, सिंदूर, चूड़ियां, पान के पत्ते, गर्भनिरोधक, स्टांप पेपर, कोर्ट के कागजात, डाक विभाग के पोस्टकार्ड/लिफाफे, किताबें, स्लेट-पेंसिल, चॉक, समाचार पत्र-पत्रिकाएं, मैप, एटलस, ग्लोब, हैंडलूम, मिट्टी के बर्तन, खेती में इस्तेमाल होने वाले औजार, बीज, बिना ब्रांड के ऑर्गेनिक खाद, सभी तरह के गर्भनिरोधक, ब्लड, सुनने की मशीन।

5% GST Rates Items – ब्रांडेड अनाज, ब्रांडेड आटा, ब्रांडेड शहद, चीनी, चाय, कॉफी, मिठाइयां, खाद्य तेल, स्किम्ड मिल्क पाउडर, बच्चों के मिल्क फूड, रस्क, पिज्जा ब्रेड, टोस्ट ब्रेड, पेस्ट्री मिक्स, प्रोसेस्ड/फ्रोजन फल-सब्जियां, पैकिंग वाला पनीर, ड्राई फिश, न्यूजप्रिंट, ब्रोशर, लीफलेट, राशन का केरोसिन, रसोई गैस, झाडू, क्रीम, मसाले, जूस, साबूदाना, जड़ी-बूटी, लौंग, दालचीनी, जायफल, जीवन रक्षक दवाएं, स्टेंट, ब्लड वैक्सीन, हेपेटाइटिस डायग्नोसिस किट, ड्रग फॉर्मूलेशन, क्रच, व्हीलचेयर, ट्रायसाइकिल, लाइफबोट, हैंडपंप और उसके पार्ट्स, सोलर वाटर हीटर, रिन्यूएबल एनर्जी डिवाइस, ईंट, मिट्टी के टाइल्स, साइकिल-रिक्शा के टायर, कोयला, लिग्नाइट, कोक, कोल गैस, सभी ओर (अयस्क) और कंसेंट्रेट, राशन का केरोसिन, रसोई गैस।

12% GST Rates Items – नमकीन, भुजिया, बटर ऑयल, घी, मोबाइल फोन, ड्राई फ्रूट, फ्रूट और वेजिटेबल जूस, सोया मिल्क जूस और दूध युक्त ड्रिंक्स, प्रोसेस्ड/फ्रोजन मीट-मछली, अगरबत्ती, कैंडल, आयुर्वेदिक-यूनानी-सिद्धा-होम्यो दवाएं, गॉज, बैंडेज, प्लास्टर, ऑर्थोपेडिक उपकरण, टूथ पाउडर, सिलाई मशीन और इसकी सुई, बायो गैस, एक्सरसाइज बुक, क्राफ्ट पेपर, पेपर बॉक्स, बच्चों की ड्रॉइंग और कलर बुक, प्रिंटेड कार्ड, चश्मे का लेंस, पेंसिल शार्पनर, छुरी, कॉयर मैट्रेस, एलईडी लाइट, किचन और टॉयलेट के सेरेमिक आइटम, स्टील, तांबे और एल्यूमीनियम के बर्तन, इलेक्ट्रिक वाहन, साइकिल और पार्ट्स, खेल के सामान, खिलौने वाली साइकिल, कार और स्कूटर, आर्ट वर्क, मार्बल/ग्रेनाइट ब्लॉक, छाता, वाकिंग स्टिक, फ्लाईएश की ईंटें, कंघी, पेंसिल, क्रेयॉन।

18% GST Rates Items – हेयर ऑयल, साबुन, टूथपेस्ट, कॉर्न फ्लेक्स, पेस्ट्री, केक, जैम-जेली, आइसक्रीम, इंस्टैंट फूड, शुगर कन्फेक्शनरी, फूड मिक्स, सॉफ्ट ड्रिंक्स कंसेंट्रेट, डायबेटिक फूड, निकोटिन गम, मिनरल वॉटर, हेयर ऑयल, साबुन, टूथपेस्ट, कॉयर मैट्रेस, कॉटन पिलो, रजिस्टर, अकाउंट बुक, नोटबुक, इरेजर, फाउंटेन पेन, नैपकिन, टिश्यू पेपर, टॉयलेट पेपर, कैमरा, स्पीकर, प्लास्टिक प्रोडक्ट, हेलमेट, कैन, पाइप, शीट, कीटनाशक, रिफ्रैक्टरी सीमेंट, बायोडीजल, प्लास्टिक के ट्यूब, पाइप और घरेलू सामान, सेरेमिक-पोर्सिलेन-चाइना से बनी घरेलू चीजें, कांच की बोतल-जार-बर्तन, स्टील के ट-बार-एंगल-ट्यूब-पाइप-नट-बोल्ट, एलपीजी स्टोव, इलेक्ट्रिक मोटर और जेनरेटर, ऑप्टिकल फाइबर, चश्मे का फ्रेम, गॉगल्स, विकलांगों की कार।

28% GST Rates Items – कस्टर्ड पाउडर, इंस्टैंट कॉफी, चॉकलेट, परफ्यूम, शैंपू, ब्यूटी या मेकअप के सामान, डियोड्रेंट, हेयर डाइ/क्रीम, पाउडर, स्किन केयर प्रोडक्ट, सनस्क्रीन लोशन, मैनिक्योर/पैडीक्योर प्रोडक्ट, शेविंग क्रीम, रेजर, आफ्टरशेव, लिक्विड सोप, डिटरजेंट, एल्युमीनियम फ्वायल, टीवी, फ्रिज, वाशिंग मशीन, वैक्यूम क्लीनर, डिश वाशर, इलेक्ट्रिक हीटर, इलेक्ट्रिक हॉट प्लेट, प्रिंटर, फोटो कॉपी और फैक्स मशीन, लेदर प्रोडक्ट, विग, घड़ियां, वीडियो गेम कंसोल, सीमेंट, पेंट-वार्निश, पुट्टी, प्लाई बोर्ड, मार्बल/ग्रेनाइट (ब्लॉक नहीं), प्लास्टर, माइका, स्टील पाइप, टाइल्स और सेरामिक्स प्रोडक्ट, प्लास्टिक की फ्लोर कवरिंग और बाथ फिटिंग्स, कार-बस-ट्रक के ट्यूब-टायर, लैंप, लाइट फिटिंग्स, एल्युमिनियम के डोर-विंडो फ्रेम, इनसुलेटेड वायर-केबल।

Brief Summary of GST Rate Schedule for Goods*

👉 *Nil Rate:*
- Milk
- Curd
- Butter milk
- Live trees & other plants
- Cut flowers
- Fresh fruits & vegetables
- Cereals, flour, atta, besan & maida (without brand name)
- Bread, pappad, puffed or beaten rice
- Common salt
- Contraceptives
- Kumkum, bindi & sindoor
- Plastic bangles
- Stamps & judicial papers
- Newspapers, periodicals & journals
- Printed books

👉 *5% Rate:*
- Cream
- Skimmed milk powder & milk food for babies
- Products of animal origin
- Frozen fruits & vegetables
- Coffee & tea
- Spices
- Cereals, flour, atta, besan & maida (with brand name)
- Natural gums & resins
- Vegetable fats & oils
- Cocoa beans, paste & shells
- Pizza bread
- Rusks & toasted breads
- Ores & concentrates
- Coal, coke, kerosene & LPG
- Brochures & leaflets
- Building bricks
- Renewable energy devices
- Railway locomotives

👉 *12% Rate:*
- Butter & cheese
- Dry fruits
- Fruit & vegetable juices
- Namkeens, bhujia, mixture, etc.
- Marble & granite blocks
- Bio-gas
- Ayurvedic medicines
- Tooth powder
- Agarbatti
- Candles
- Umbrellas
- Copper or aluminium utensils
- Bicycles & other cycles (not motorised)
- Hand propelled & animal drawn vehicles
- Spectacle & contact lenses
- LED lights or fixtures
- Pen & pencils
- Sanitary towels, napkins, tampons & diapers
- Works of art, collectors' piece & antiques
- Cellphones

👉 *18% Rate:*
- Refined sugar
- Sugar confectionery
- Pasta
- Corn flakes
- Pastries & cakes
- Jams & fruit jellies
- Preserved vegetables
- Sauces
- Soups & broths
- Ice creams
- Instant food mixes,
- Sharbat
- Supari
- Mineral water
- Vinegar
- Hair Oil
- Soap
- Matches
- Toilet or facial tissue
- Cigarette paper
- Registers, account books & note books
- Refractory bricks
- Ceramic tableware & kitchenware

👉 *28% Rate:*
- Chewing gum & bubble gum
- Cocoa powder, butter, fat and oil
- Chocolates & other food preparations containing cocoa
- Pan masala
- Aerated water
- Paints & varnishes
- Perfumes
- Sunscreen
- Beauty or make-up preparations
- Shampoos, hair cream or hair dyes
- Dental floss
- Shaving related products
- Deodorants
- Fireworks
- Signalling flares
- Articles of leather
- Plywood & vineered panels
- Wall papers
- Air-conditioning machines
- Refrigerators
- Washing machines
- Printers & photo copiers
- Vacuum Cleaners
- Speakers
- Monitors & projectors
- Motorcars, motor vehicles & motorcycles
- Camera
- Wrist-watches
- Musical instruments, its parts & accessories
- Mattress supports
- Lamps & lighting fittings
- Video game consoles & machines

GST Council fixes rates for services.
GST Council announces 4 rates for services - 5%, 12%, 18% and 28%;
1. Transpostation-
Transportation Service-5%, Air Travel- Eco-5%, Buses 12%, App based Cab-5%
2. Hotels & Restaurant
Tariff's Below 1000 - No GST
1000-2500 - 12 %
2500-5000 - 18 %
Above 5000 - 28 %
3.Healthcare & Education shall continue to be exempt;
4.Gambling and Cinema services to fall under 28% slab, as entertainment tax merged with service tax under GST; ​
5. Works contract taxable at 12% with full Input Tax Credit;
6. Telecom--18%
7. Insurance- 18%

Good morning, have a nice day

✍
*"मंनुष्य कितना भी गोरा क्यों ना हो*
*परंतु*
*उसकी परछाई सदैव काली होती है...!!*
*"मैं श्रेष्ठ हूँ" यह आत्मविश्वास है*
*लेकिन*
*"सिर्फ मैं ही श्रेष्ठ हूँ" यह अहंकार है..."*
*"इच्छा पूरी नहीं होती तो क्रोध बढ़ता है, और इच्छा पूरी होती है तो लोभ बढ़ता है। इसलिये जीवन की हर स्थिति में धैर्य बनाये रखना ही श्रेष्ठता है |*
*🌴 ❤❤🌴
. 🌺🍂💐🌻
*भाग्यशाली*
*वे नही होते जिन्हें*
*सब कुछ अच्छा*
*मिलता है*
*बल्कि वे होते हैं*
*जिन्हें जो मिलता है,*
*उसे वो अच्छा*
*बना लेते हैं |*
😊😊😊

*आपका दिन शुभ हो*
. *Very Sweet*
🙏🏻Good Morning🙏🏻

Nikhil Rastogi & CO updated their business hours.