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The Goods and Service Tax Network (GSTN) has provided the user guide on the process of enrolling the registered  Digital Signature Certificates (DSC) including the GST Portal. So to enroll the DSC at the GST portal designer utility requires it to be installed. The utility can be downloaded via the registrar GST DSC page. The registration is on the grounds of the PAN card and only class 2 and class 3 DSC are accepted on the GST portal.  DSC is important if the assessee is the public ltd company, Pvt ltd firm unlimited Unlimited Company, Foreign Company, Limited Liability Partnership (LLP), Foreign Limited Liability Partnership, and Public Sector Undertaking. So to enroll for DSC within the GST portal for the new registration Tap on the register link then choose the Temporary Reference Number (TRN) option, in the Temporary Reference Number (TRN) field, enter the TRN received, and Tap on the continue button.  Type the OTP in the mobile or email OTP field that you had recei...

In the concern to stop the pollution of the country the central minister of Road Transport and highways Nitin Gadkari has permitted the plan of Green  Tax on the older vehicles on 25 Jan 2021. The proposal is being shown for the consultation first prior to the notification.  A draft Voluntary Vehicle Fleet Modernisation Programme was launched by the union govt in 2016. The major goal of the program is to ban 28 million decade-old vehicles on the road.  The transport vehicles which are older than 8 years to be levied on 10 to 25% of road tax on the restoration time of fitness certificate.  Personal vehicles to be imposed on the duration of the restoration of the 'Registration Certification' after 15 years. The vehicles of the public transport like city buses to be imposed with less Green taxes.  A green tax of 50% of the road tax is to be imposed on the vehicles enrolled under the highly polluted cities. The green tax is being relied on for fuel like petrol, die...

On 42nd Meet ruled on 5th October 2020 concerning towards forging the business and trade implementation the GST official release a new GST return furnishing platform for the small assessee who has an average turnover of yearly Rs 5 cr in the previous fiscal year 2019-20 which has been imposed from 1/01/2021. This is used to incorporate the policy which is to reduce the monthly return filing burden upon the small assessee. The department suggests that the assessee who has the AATO up to Rs 5 cr is permitted to file the GSTR-3B quarterly through the monthly payment of GST liability from 1/01/2021. The council has provided several notifications to conduct the policy and circular to elaborate the policy in simple meaning and to make sure that it gets properly implemented. As per the discussion about the QRMP policy to provide effective clarity with respect to this policy and also it tried to provide the answer to all the questions of the assessee towards the policy. From the...

Mark your calendar if you are excited about the Budget 2021 because on this day Finance Minister Nirmala Sitharaman will present the Union Budget for the Financial Year 2021-22. It is expected that this budget will be focused on how the government plans to revive the contracted economy for the current fiscal year at 7.7 percent. Last year the Union Government introduced several schemes such as Atma Nirbhar Bharat Abhiyan and a production-linked incentive scheme for the manufacturing sector as a part of reviving the economy. However, to fund these schemes, the government has to invest a huge amount in them and even at a time when the revenue collection is really under pressure. In this hard time, research and advisory firm Taxman expect the government not to announce any new tax deduction in this budget. Taxmann said “Where on one hand the government has to incur a huge sum to finance these packages, on the other hand, it has suffered a loss of revenue as some industries have been impa...

GSTR-3B return: to the GST taxpayers the Central Board of Indirect Taxes & Customs has given an alert in context to those people whose average yearly turnover exceeds Rs 5 cr in the FY 2020-21. CBIC has questioned those assessees to furnish their taxes on time so as to avoid the penalty. A late fine will be imposed along with the interest if anyone is found filing a late GSTR-3B. The due date of filing the GSTR-3B return for January 2021 is 20th Fabruary.  The message was indeed retweeted by the finance ministry which was given by the Central Board of Indirect Taxes & Customs       The post is published on Twitter by the finance ministry which reminds the last date of furnishing the GSTR-3B return. " Attention GST Taxpayers whose Aggregate Annual Turnover is more than Rs. 5 crores during FY 2020-21! Remember to file your monthly GSTR-3B Return for January 2021 on or before February 20, 2021." For people who do not have furnished GSTR-3B return for Janua...

Generally in budget peoples keep their eyes on the amendment in the income tax rates as this is concerned to the pocket of common people. The government undertakes taxes from the companies and institutions as well as common people to meet their expenses. The majority of the revenue collected through the government is through taxes. The tax is a mandatory payment that every person furnishes to the government. There are 2 types of taxes such as direct tax and indirect tax . The earning of the government is done through these taxes.  What Do You Mean by Direct and Indirect Taxes? The tax which is charged directly from the people like income tax, corporate tax, tax on income from shares or other assets, property tax, corporate tax, and inheritance tax, etc. the tax which is charged on an individual or on the companies comes under the direct tax. While on the other side the taxes which are not levied from the common people but the burden imposed on the common people is known as indirect...

10th January 2021 is the last date for filing the ITR which reveals that there are only 5 days left for the same. It is better to collect all the documents and furnish ITR which prevents the stress and wrong filing at the last min. It is somewhere not possible to furnish the ITR if an employed person does not have Form-16 with him. As this form revealed the gross salary of the person and the TDS needed to be cut down.  In some situation, if the organizations will not able to hold the business for some cause or any due to some other reason you will not able to get some cause you left your old company by not completing the formalities then you will not receive Form 16 and in such cases, you can furnish the ITR through other credentials such as mentioned below: The Calculation of The Total Income: File income tax without Form 16 is important to determine the income from all the sources in the corresponding fiscal year to file the ITR and for that, it is mandatory to have all the sala...