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On 27 December, the CBIC has notified the circular No. 75/49/2018 ' Seva Bhoj Yojna ' scheme. Under this scheme, IGST and CGST has been paid for the purchase and donate charitable/religious institutions on the free food serving by the public. The charitable/religious institutions are included Gurudwara, Temples, Dharmik Ashram, Mosques, Dargah, Church, Math, etc. The govt has released FORM SBY-01 to SBY-06 for all the charitable/religious institutions organizations offering under the Seva Bhoj Yojna. Read also: Latest GST Circulars and Orders By CBIC FORM SBY-01 - Application for SBY-UIN FORM SBY-02 - Unique Identification Number FORM SBY-03 - Application for Reimbursement of Tax Under the SBY FORM SBY-04 - Acknowledgment FORM SBY-05 - Order Sanctioning/rejecting Claim of Reimbursement FORM SBY-06 - Payment Advice

The Central Board of Direct Taxes (CBDT) today has notified five new changes in PAN card provisions . The new changes will become valid from 5th December 2018. According to new notification issued by CBDT, all the entities, which made financial transaction of Rs 2.5 lakh or more in a financial year will be eligible for the PAN card and has to mandatory apply for a PAN card on or before 31st May of the next financial year. Download Free Demo Gen Income Tax Software for R eturn Filing

The new modifications are done in the E- Way Bill generation form and is being released on 16th of November 2018. In this form there will be some latest improvement introduced such as duplicate e-way bills, CKD/SKD delivery challan along with original tax Invoice or bill of entry copy, shipping and dispatching address in case of import and export supply, etc. 1. Checking of duplicate generation of e-way bills based on same invoice number: In case a transporter or consignee has generated one e-way bill on the consignor’s invoice, then any other party. 2. CKD/SKD/Lots for movement of Export/Import consignment: Availability of Delivery Challan’ along with original ‘Tax Invoice’ or ‘Bill of Entry' 3. Shipping address in case of export supply type:  Bill To’ Party will be URP or GSTIN of SEZ Unit with the state as ‘Other Country’ 4. Dispatching address in case of import supply type:  Bill From’ Party will be URP or GSTIN of SEZ Unit with the state as ‘Other Country’ ...

In New Delhi, the Finance minister, Arun Jaitley, relieves taxpayers by announcing there is no late payment fee for filing the form late after 26 August for July month but the interest on late tax payment of the GST is eligible. The taxpayer is liable to pay the late fee in case he missed out on the GSTR filing but for the July month, they are exempted from it. The above announcement is made by the government in an issued circular by CBEC. (Link Circular Order) The finance minister further says, there is a curriculum of 100 Rs. per day for late filing the GSTR for CGST and SGST taxes . Now, the interest will be charged from the taxpayers who have not paid any tax yet, and no late fee penalty for this month. The GST Council had already mentioned in a provision that in case of late tax payment after the due date there will be 18% interest on the taxable amount and a late fee payment which is 100 Rs. per day is applied for filing late the GST forms from the due dates . For July mo...

CST stands for Central Sales Tax and it has been introduced in the Constitution of India by the Sixth amendment. The Central Sales Tax (CST) is an indirect tax, which levy on sales of goods on inter-state trade or commerce. According to the Indian constitution, no State can impose sales tax on any sales or purchase of goods that takes place within the state or on import and export of sales. The consumer of the purchased product is responsible for the payment of Central State Tax (CST). The tax is collected by the central government on the taxable total of inter-state sales presented by the registered dealer. The central sale tax rules 1957, prescribed various types of Form for transactions of goods interstate, transfer of goods from one branch to another branch in differ states and many more. The CST avails various forms as C Form , E Form and F Form etc. to avail the exemptions or concessions on the transaction of goods. C-Form C-Form is a Form defined under section 8...

Prime Minister Narendra Modi had invited Congress president Sonia Gandhi and former Prime Minister Manmohan Singh for tea. This meeting over tea was held at Modi’s official residence in New Delhi. During the meeting, both the parties discussed on the Goods and Services Tax Bill. According to the resources, the two demands of the three put forward by the congress party on the GST during the meeting. Source stated that the Government has indicated that it may agree to the 18% limit on Goods & Services Tax . The government is also likely to waive off 1% levy for manufacturing states. Read Also: Centre Claims, 30 Parties Favor To Pass GST Bill Finance Minister Arun Jaitley, who was present at the meeting along with Parliamentary Affairs Minister M Venkaiah Naidu, said "both sides put forward their positions on GST and there is the possibility of more meetings in the future. The leaders also discussed the smooth functioning of Parliament in the Winter Session during the m...

Before developing a CA/CA firm website, you need to follow the guidelines of ICAI (Institute of Chartered Accountants of India). The Institute of Chartered Accountants of India (ICAI) prohibits the members from promoting their work by advertising, circular, personal communication and by other medium. The ICAI, under the Chartered Accountant Act, 1949 has laid down its guidelines to post their particulars on the website. Recently, the council has made some changes to the sub-Clauses (8) or (20) of the existing guidelines. In the updated guidelines, the sub-clause (8) will permit for the display of passport size photograph and sub-clause (20) will provide the links of the Canadian Institute of Chartered Accountants (CICA), The Institute of Chartered Accountants of England and Wales and American Institute of Certified Public Accountants (AICPA). The revised guidelines with complete description are available in the PDF format for the Chartered Accountants/Firms of Chartered Account...