GST on Housing Societies for rendering Services to its Members

GST on Housing Societies for rendering Services to its Members

First of All housing societies means unincorporated body or Non –Profit entity registered under any law for the time being in force whether it is cooperative society or society register under Societies Act.

“Simply put these are a collective body of persons, who stay in a residential society. As a collective body, they would be supplying certain services to its members, be it collecting statutory dues from its members and remitting to statutory authorities, maintenance of the building, security etc.”

A Society is akin to a club, which is composed of its members. So, can a service provided by a Housing Society to its members be treated as service provided by one person to another. The answer is yes. The following extracts of the GST law will make the position clear.

Section- 9 of the CGST Act says that GST is applicable on “supply of Goods and Services”.

Section -7 of the CGST Act  narrated  Supply as ;

“all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;”

Society is person as per section 2(84) of the CGST Act,2017.

Next question  arises here is whether activity of the society can be said to be in the course or furtherance of business .

Section -2(17) of the CGST Act is defined as under;

“business” includes––

(a) any trade, commerce, manufacture, profession, vocation, adventure, wager or any other similar activity, whether or not it is for a pecuniary benefit;

(b) any activity or transaction in connection with or incidental or ancillary to sub-clause (a);

(c) any activity or transaction in the nature of sub-clause (a),whether or not there is volume, frequency, continuity or regularity of such transaction;

(d) supply or acquisition of goods including capital goods and services in connection with commencement or closure of business;

(e) provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members;

(f) admission, for a consideration, of persons to any premises;

(g) services supplied by a person as the holder of an office which has been accepted by him in the course or furtherance of his trade, profession or vocation;

(h) services provided by a race club by way of totalisator or a licence to book maker in such club ; and

(i) any activity or transaction undertaken by the Central Government, a State Government or any local authority  in which they are engaged as public authorities.

Thus, as per section 2(17)(e) of the CGST Act, 2017 provision by a club, association, society, or any such body (for a subscription or any other consideration) of the facilities or benefits to its members is deemed to be a business. The activities of the housing society would thus attract the levy of GST and the housing society would be required to register and comply with the GST Law.

Hence herein above, it is proved that society need to pay GST on services provided to its members . But this is subject to Notification No. 12/2017 dated 28.06.2017  where S.N. 77 ( c ) provide the following exemption to  Service by an unincorporated body or a non- profit entity registered under any law for the time being in force, to its own members by way of reimbursement of charges or share of contribution –

(a) as a trade union;

(b) for the provision of carrying out any activity which is  exempt from the levy of Goods and service Tax; or

(c) up to an amount of five thousand rupees per month per member for sourcing of goods or services from a third person for the common use of its members in a housing society or a residential complex

Now from 25.01.2018 by Notification No. 2 the limit of Rs. 5,000 increase to Rs. 7,500.

Means thereby if the housing society charge Rs. 8500 per month for all services provided to its members , GST shall be charged on Rs. 1000 only. Therefore charges collected by the society on account of property tax, electricity charges shall be excluded while calculating the limit of Rs. 7500.

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What is the registration process of TDS deductor in GST?

What is the registration process of TDS deductor in GST?

TDS-Under-GST

TDS stands for Tax Deduction at Source (TDS).It facilitates sharing of responsibility of tax collection between the deductor and the tax administration. It also ensures regular inflow of cash resources to the Government. It acts as a powerful instrument to prevent tax evasion and expands the tax net, as it provides for the creation of an audit trail.

I have prepared all working steps with necessary explanation to get registration by deductor under provision of the GST law.

Persons liable to deduct tax under GST Law:

As per the Section 51 of the CGST Act, the following persons are mandatorily required to deduct TDS :-

(a) a department or establishment of the Central/ State Government; or

(b) local authority; or

(c) Governmental agencies; or

(d) such persons or category of persons as may be notified by the Government on the recommendations of the Council.

The following class of persons under clause (d) of section 51(1) of the CGST Act, 2017 has been notified vide notification No. 33/2017 – Central Tax dated 15.09.2017 :-

(a) an authority or a board or any other body,—

(i) set up by an Act of Parliament or a State Legislature; or

(ii) established by any Government, with fifty-one percent or more participation by way of equity or control, to carry out any function;

(b) society established by the Central/ State Government or a Local Authority under the Societies Registration Act,1860;

(c) public sector undertakings.

REGISTRATION OF DEDUCTOR OF TAX IN GST:

The existing deductors of STDS/TCS under VAT Act will not be automatically migrated to

Section 24(vi) of the CGST Act, 2017 provides for compulsory liability for registration for the deductors of

A deductor in GST will be required to get registered and obtain a GSTIN [Goods & Services Tax Identification Number] as a TDS deductor even if he is separately registered as a

A deductor has to get himself registered through the portal www.gst.gov.in by using their PAN/TAN. The entire process is online.

Process of registration of TDS Deductors in GST

The  process of registration of TDS Deductors in GST have been prepared in only five steps :

STEP – I : Entering User credentials for Registration Application

  1. Go to the GST Portal at www.gst.gov.in

  2. Click on the “Services” Tab →Click on “Registration” →Select

“New Registration”.

  1. Find the box “I am a” which will capture your status as an applicant. Select “Tax Deductor” from the drop-down

  2. Look below for the options: I have a (a) PAN (b) TAN. Please select the option “TAN”.

  3. Enter the TAN in the box

  4. Now find the box “State” and select your State (e.g. West Bengal) from the drop-down Menu.

  5. Select the applicable district (e.g. Howrah) from the drop- down Menu in the “District” box.

  1. Find the box “Legal name of the Tax deductor”. Enter the name as mentioned in TAN.Please don’t deviate from such

  2. Enter your e-mail address and Mobile Number in the respective boxes. Please ensure that this e-mail and mobile are regularly accessed by you. OTP for registration will be sent to these contacts only.

  3. Enter the Captcha Code as displayed

  4. Click on the button “Proceed”.

  5. Automatically you will be guided to the next page.

13. The system will also send 2 different OTPs. One to the Mobile Number and another to the e-mail id as entered by you.

STEP – II : OTP Verification

1. Enter the individual OTPs sent to your e-mail id & the Mobile number in the respective boxes.

2. In case, you have not received the OTPs due to any reason, you may click on the link “Click here to resend the OTP”.

3. Click on the button “Proceed”.

4. A Temporary Reference Number (TRN) will be

Please note this TRN is for further course of action.

5. Now, you have to fill up the rest of the details in the Registration Application against this TRN only.

6. Click on the button “Proceed” to leave this

7. This TRN will be valid for 15 days. So you can always come back to the system for filling up the rest of the details at any time within such 15 days. In case this TRN expires beyond 15 days, you will have to follow the steps as detailed in STEP I and STEP II all a fresh.

 STEP – III : Filling up the registration Form : Entering TRN

  •  Go to the GST Portal at gst.gov.in
  • Click on the “Services” Tab →Click on “Registration” →Select“TRN”.
  • Enter the TRN as you have noted down
  • Enter the Captcha Code as displayed on
  • Click on the button “Proceed”.
  • You will be guided to the next

STEP – IV : Filling up the registration Form : OTP Verification

1. This time only 1 OTP will be sent to your e-mail id & the Mobile number.

2. Enter the OTP in the respective box.

3. In case, you have not received the OTPs due to any reason, you may click on the link “Click here to resend the OTP”.

4. Click on the button “Proceed”.

5. You will be guided to the “My saved Applications”

6. The link of your application for Registration as a Tax Deductor in Form GST REG 07 will be displayed on screen with the corresponding expiry date of 15

7. Click on the blue coloured box with an icon of Pen under the field “Action” to proceed.

8. Now you will be guided to the main application form for filling up the

9. This will have 5 different Please ensure that all the fields in the individual tabs are duly selected.

STEP – V : Filling up the registration Form :

  Tab 1 : Business Details

 1. As per the GST Law, Business includes all activities undertaken by a Govt. Dept. or a Local Authority. So, the Business details as mentioned in this Form will capture your Office

2. The Legal Name of Tax Deductor, e-mail address, Mobile No., TAN and Status as a Tax Deductor will be displayed on screen automatically as all these have already been entered by you.

3. Ignore the box “Trade Name”.

4. Select your Office type e.g. Govt. Dept./ Local Authority etc. from the drop down menu of the box “Constitution of Business”.

5. Select “Type of Government” as State or Central (as applicable) if you have entered your constitution as Govt. Dept.

6. Date of liability will be auto-populated. You need not worry even it shows as the current date because you will be liable to deduct TDS only from the day, Section 51 of the CGST/SGST Acts, 2017 is notified i.e. with effect from 01.10.2018. If you apply for registration after this date, you will be liable from the date of application for registration.

7. Enter the State Jurisdiction details by selecting the applicable “District” and “Sector/Circle/Charge/Unit” from the drop-down menu.

8. Enter the Center Jurisdiction accordingly. To know the Central Jurisdiction, you may click on the designated link given therein and find the appropriate data.

9. Click on “Save and Continue” to proceed to the next

10. Once all the required data are filled up, you will find that the Tab:

Business Details will be displayed with a tick (√) mark.

 Tab 2 : DDO Details

1. Enter the Personal details of the DDO in the first part of this

2. Here you will have to enter: (a) name of DDO, (b) Father’s name of DDO, (c) Date of Birth, (d) Mobile Number, (e) e- mail address, (f) Gender, (g) Telephone (landline) with STD Code.

3. Enter the Identity Information of the DDO in the second part of this page.

4. Here you will have to enter: (a) Designation of DDO, (b) PAN of DDO, (c) Aadhar Number (not mandatory)

5. Enter the Residential details of the DDO in the third part of this

6. Here you will have to enter: (a) Residential address of the DDO.

7. Now, upload a photograph of the DDO in JPEG format (file size max. 100kb)

8. Select the button “Also authorized signatory” as Yes.

9. Click on “Save and Continue” to proceed to the next

10. Once all the required data is filled up, you will find that the Tab: DDO

Details will be displayed with a tick (√) mark.

Tab 3 : Authorised Signatory Details

Tab 4 : Office Address Details

1. Enter the DDO’s Office Address details in the first part of this page.

2. Enter the Office Contact details in the second part of this page.

3. Select the nature of possession of premises from drop-down menu.

4. Now, select from the drop-down menu, a type of document you want to upload as an address proof.

5. Now upload such document accordingly either in PDF or JPEG format (file size max. 2mb)

6. Click on “Save and Continue” to proceed to the next tab.

7. Once all the required data is filled up, you will find that the Tab: Office Address Details will be displayed with a tick (√) mark.

Tab 5 : Verification

1. Select the Verification Check Box.

2. Select the DDO’s name (with TAN) from the drop-down menu of “Name of Authorised Signatory”.

3. Enter Place.

4. You can sign the application either with your DSC or with EVC

5. Select the appropriate option and proceed accordingly.

6. In case you face any glitch regarding attaching your DSC, a designated link for solution is provided in the page itself.

7. If you have entered all the details and have successfully submitted your properly signed application, the page will now display a success message and accordingly an Acknowledgement will be sent to you.

Now, the proper officer will process your application and your 15 digit GSTIN as a Tax Deductor will be generated.

For further clarification and professional assistance, feel free to contact at www.dptaxexperts.com

10 FAQs on ‘Anti-profiteering’ activity under GST

10 FAQs on ‘Anti-profiteering’ activity under GST

Processing of GST refund applications filed by Canteen Stores Department (CSD)

1. What is an ‘Anti-profiteering’ activity?

The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said benefits to the recipient amounts to “profiteering”.

2. How is the anti-profiteering mechanism under CGST act?

CGST Act, 2017 mandates a 3-tier structure for the investigation and adjudication of the complaints regarding profiteering.

  1. National Anti-profiteering Authority
  2. Directorate General of Anti-profiteering
  3. State-level Screening Committees and Standing Committee

4. How does the screening committee and Standing committee work?

GST council may constitute a standing committee, having members from both state and central governments.

Every state shall constitute one state-level screening committee. It will have one member from state government and one-member from central government as nominated by respective appropriate authority.

State screening committee shall forward an application relating to supplies of goods or services of a local nature to the Standing Committee if it is prima facie satisfied that Section 171 of the Act has been contravened. [Rule 128 (2) of CGST Rules, 2017]

If the standing committee satisfies that supplier has contravened the section 171 of CGST act, the case shall be transferred to DG Anti-profiteering for further investigation. [Rule 129 (1) of CGST Rules, 2017]

The committees shall complete the investigation within a Period of two-months from the date of the receipt of the application.

4. What is the role of DG Anti-profiteering in the Anti-profiteering mechanism?

DG Anti-profiteering is the investigating-arm in the anti-profiteering mechanism. It can summon the interested parties or make inquiry or call for the relevant documents for the investigation. It can take help from technical expert in the due course of investigation. [Rule 132 of CGST Rules, 2017]

DG Anti-profiteering shall complete the investigation within a period of three-months from the date of receipt of the report from the standing committee. The period can be extended for another three months. [Rules 129 (6) of CGST Rules, 2017].

5. Who can file the complaint against profiteering?

Any consumer or organisation experiencing the non-reduction in the price of the goods or service despite reduction in the rate of GST can file the complaint with proper evidences.

Any supplier, trader, wholesaler or retailer, who could not get benefit of input tax credit on account of reduction in the rate of GST, can file the complaint with proper evidences.

6. How can I file complaint against profiteering?

There are multiple ways through which aggrieved consumers or suppliers of goods and services can register their complaints against profiteering:

i. Online complaint facility:

Complainant can register an online complaint at http://www.naa.gov.in/complaint.php

Click here to see the Guideline to register online-complaint http://www.naa.gov.in/page.php?id=guidelines-for-consumers

ii. Via Mail:

User can mail the complaint at

Agencies Mail-Id Nature of the complaint
National Anti-profiteering Authority secretary.naa@gov.in Grievance-redressal
Standing Committee sc.antiprofiteering@gov.in Complaints of the nature of national-level
State-Screening Committees State-wise Mail-Ids:http://www.naa.gov.in/docs/SCREENING%20COMMITTEES_UPDATED.xlsx Complaints of the nature of state-level or local

iii. By Post:

Agencies Postal-Addresses
National Anti-profiteering Authority National Anti-profiteering AuthorityDept. of Revenue, Ministry of Finance

6th Floor, Tower One

Jeevan Bharati

Connaught Place

New Delhi-110 001.

Directorate General of Anti-Profiteering Directorate General of Anti-profiteering,Dept. of Revenue, Ministry of Finance

2nd floor,

Bhai Veer singh sahitya sadan,

Bhai Veer singh marg,

Gole market, New Delhi -110 001.

Standing Committee Directorate General of Anti-profiteering,Dept. of Revenue, Ministry of Finance

2nd floor,

Bhai Veer singh sahitya sadan,

Bhai Veer singh marg,

Gole market, New Delhi -110 001.

The complaints can be sent to standing committee at,

E-mail ids: sc.antiprofiteering@gov.in

7. How can I know the status of my complaint against profiteering?

The complainant can track the online-complaint through http://www.naa.gov.in/track-complaint.php

Complainant can also contact at :

Directorate General of Anti-profiteering,

of Revenue, Ministry of Finance, 2nd floor,

Bhai Veer singh sahitya sadan,

Bhai Veer singh marg,

Gole market, New Delhi -110 001.

Contact no.: 011- 2374 1544,

011- 2374 1542,

Email-id: anti-profiteering@gov.in

8. Will I be eligible to recover the amount on account of my complaint against profiteering?

Under Rule 127 of CGST Rules, 2017, National Anti-profiteering Authority can compel the defaulter to return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest at the rate of 18% from the date of collection of higher amount till the date of return of such amount. Only the recipient is the eligible to receive the amount.

9. Will NAA provide opportunity of personal hearing to whom complaint is been made?

An opportunity of hearing shall be granted to the interested parties by the Authority if the request is received in writing from such interested parties [Under Rule 133 (2) of CGST Rules, 2017].

10. What is the consumer welfare fund?

A separate fund has been created by the central government under to section 57 and 58 of the CGST act, 2017 which would be utilised for the welfare of the consumers in the country. When the recovery of the amount including interest not returned in case the eligible person does not claim return of the amount or the recipient is not identifiable, in such conditions, the recovered amount is deposited in the consumer welfare fund.

How “Dp Accounting & Taxation Services” will help you in GST Compliance?

DP Accounting & Taxation Service will always touch with you for filing monthly GST Return in Ahmadabad, Gujarat. We will review your data & submit file on GST Portal. Our Tax Expert Team will contact you regular basis for GST Compliance. Our fees will be starting from Rs.999/- onwards.

Exchange/Refund of mutilated notes. RBI (Note Refund) Amendment Rules, 2018

Exchange/Refund of mutilated notes. RBI (Note Refund) Amendment Rules, 2018

Annual Return form released.

RESERVE BANK OF INDIA
NOTIFICATION

Mumbai, the 5th September, 2018

RBI/DCM (NE) No. 631/08.01.01/2018-19.—In exercise of the powers conferred by the proviso to section 28 read with sub-section (1) and clause (q) of sub-section (2) of section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board of the Reserve Bank of India with the previous sanction of the Central Government hereby makes the following rules to amend the Reserve Bank of India (Note Refund) Rules, 2009, namely:

  1. Short title and commencements:-

(1) These rules may be called the Reserve Bank of India (Note Refund) Amendment Rules, 2018.

(2) They shall come into force on the date of their publication in the Official Gazette.

  1. In the Reserve Bank of India (Note Refund) Rules, 2009, in rule 8, –

(a) in sub-rule (1),

(i) for the words “one rupee, two rupee, five rupee, ten rupee and twenty”, the words “less than fifty rupees”, shall be substituted;

(ii) for the “Explanation” and “Table 1”, the following shall be substituted, namely: –

“Explanation : For the purposes of this sub-rule, it is hereby clarified that the value of a mutilated note of less than rupees fifty denomination may be refunded in full if the undivided area of the single largest piece of the note is as specified in column (5) of the Table 1 below.

(b) in sub-rule (2), –

(i) in clause (i), for the figures “65”, the figures “80” shall be substituted;

(ii) in clause (ii), for the figures “65”, the figures “80” shall be substituted;

(iii) for clause (iv), the following clause shall be substituted: –

“if the claim of mutilated notes of rupees fifty and above denominations consist of a note composed of two pieces of the same note and the two pieces, individually have an area equal to or more than 40 percent of the total area of the note in that denomination, then the claim may be refunded for full value of the note.”;

(iv) for the “Explanation” and “Table-2”, the following shall be substituted namely: –

“Explanation : For the purposes of this sub-rule, it is hereby clarified that the value of a mutilated note of equal to or more than rupees fifty denomination may be refunded in full or half, as the case may be, if the minimum undivided area of the single largest piece of the note is as specified in column (5) or (6) of the Table 2 below.

How “Dp Accounting & Taxation Services” will help you in GST Compliance?

DP Accounting & Taxation Service will always touch with you for filing monthly GST Return in Ahmadabad, Gujarat. We will review your data & submit file on GST Portal. Our Tax Expert Team will contact you regular basis for GST Compliance. Our fees will be starting from Rs.999/- onwards.

Register / Track PAN Card Related Complain / Status

Register and Track your PAN Card Related Complain online and Track Status  – Income Tax Department has started a website namely Sparsh India to help Assessee to Register their complain related to PAN Card applied  through NSDL or UTIISL and they can also  check the status of their grievance  online.  Nature of Complain may be any of the following:-

Nature of Complaint

  • Neither PAN Number nor PAN Card Received
  • PAN Card Not Received (PAN Number Received)
  • Returned Undelivered (RUD)
  • Name Mismatch
  • Photo Mismatch
  • Father’s Name Mismatch
  • Others

How to check the status of PAN Grievance

Income-tax department has an electronic portal for lodging PAN Grievances through Aayakar Sampark Kendra (ASK). By using this portal one can submit his grievance pertaining to an application for PAN submitted to either UTITSL or NSDL and can also know status of grievance relating to your application for PAN to M/s UTITSL or M/s NSDL.

Owning or using more than one PAN is against law. You may furnish information on multiple PANs inadvertently allotted to you and surrender the duplicate PAN through this portal.

Procedure for submitting PAN Grievances

Step 1  – Visit  https://incometax.intelenetglobal.com/pan/PAN.asp?id=1

Step 2- Fill out the requisite details like Nature of Complaint, Receipt Number etc.

Step 3-  Click on submit button in order to Submit the Grievance

To get Daily updates Likes our facebook Page:-

https://www.facebook.com/DpAccountingTaxationServices/

Notifications issued exempting payment of GST under reverse charge till 30 September 2018

Notifications issued exempting payment of GST under reverse charge till 30 September 2018

13/2018- Integrated Tax (Rate), Dated: June 29, 2018

In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 32/2017- Integrated Tax (Rate), dated the 13th October, 2017,
http://dptaxexperts.com/gst-registration.html published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1263 (E), dated the 13th October, 2017, and last amended vide notification No. 11/2018-Integrated Tax (Rate), dated the 23rd March, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 270 (E), dated the 23rd March, 2018, namely:-

Notifications issued exempting payment of GST under reverse charge till 30 September 2018

In the said notification, in paragraph 2, for the figures, letters and words “30th day of June, 2018”, the figures, letters and words “30th day of September, 2018” shall be substituted.

[F. No.349/58/2017-GST (Pt.)]

(Dr. Sreeparvathy S L)
Under Secretary to the Government of India
http://dptaxexperts.com/gst-registration.html

Note: – The principal notification No. 32/2017- Integrated Tax (Rate), dated the 13th October, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1263 (E), dated the 13th October, 2017 and last amended vide notification No. 11/2018-Integrated Tax (Rate), dated the 23rd March, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 270 (E), dated the 23rd March, 2018.
Notifications issued exempting payment of GST under reverse charge till 30 September 2018

company registration in Ahmedabad

company registration in Ahmedabad

company registration in Ahmedabad

What is Company registration process & minimum documents requirement ?

All About Section 8 Company Registration: Documents: Registration Process, Members

Private limited company registration in Ahmedabad.

As one of the largest markets in the world, India has a vast trade and commercial domain. However making profits through trade and commerce is not the only factor which is prominent in the Indian market. India as a huge country lacks behind in sectors like education, employment, health care, food, and safety, etc.

Our government is under a lot of pressure to ameliorate the conditions within the national legislation. However, due to many factors, the central government cannot address each and every issue simultaneously and this creates a space for specific organizations which assist the government working for the well-being of society. Such organizations are known as non profit organizations or non- government organizations.

Widely known as Section-8 companies, these organizations are registered under the Section-8 of Companies Act 2013. These companies intend to promote art, commerce, sports, safety, science, research, healthcare, social welfare, religion, protection of the environment, etc. The main object of these companies ensure the promotion of above-mentioned fields, provided the profit is used for promoting only objects of the company (Sec 8(1)(b)). Sec 8 (1) (c) states the prohibition of payment of any dividend to its members. Ministry of Corporate Affairs (mca), administers and maintains the rules and regulations through Roc in all of the states of India. The procedure for Section 8 Company’s formation is as follows:

Digital Signature Certificate (DSC) and Director Identification Number (DIN): Digital Signature is a requisite when it comes to sign the documents while filing e-forms on MCA portal by the authorized person. It is also said that Digital Signature is the secure and authentic way of submission of a document electronically. It is obtained by making an application to certifying authority with a self-attested proof of address and identity. DIN is obtained by filing an application in Form NO. DIR-3 on MCA portal, along with self-attested copy of PAN, Identity and Address proof, one recent passport sized color photograph of the Applicant. The approval and procession of DIN application is regulated through the office of Regional Director, MCA. The above mentioned required document must be attested by a practicing professional (Company Secretary, Cost, and Management Accountant, or Chartered Accountant).

 

                   company registration in Ahmedabad

Name Approval:This has to be obtained from ROC through an application submission in Form No.-INC 1. At most six names can be proposed in order of their preferences. Once approved by the authority, the name is valid for a span of sixty days. Usually, name approval takes 1-2 business days. The promoter or subscriber of the Memorandum of Articles and Association applies for the approval of name.

Memorandum of Association (MOA) and Articles of Association (AOA): Also known as Constitutional Documents of the proposed Company, they are filed as a draft with ROC with necessary documents in Form INC 12 which issues the company its license under Section-8. MOA and AOA of the company are drafted and filed with following necessary documents:

  1. Subscription pages of MOA and AOA- Each subscriber to the memorandum signs the MOA and AOA by mentioning his name, address, description, and occupation, in the presence of a witness (if any). A foreign subscriber should have all of the required documents attested by the Consulate of Indian embassy in the respective country or foreign public notary. Other documents include Affidavits, Consent Letters, and Certificate of Compliance from a practicing professional in Form No. INC-8, etc.
  2. Forms for Issuance of License Under Section-8: Required documents are to be filed with ROC;
    1. E-Form INC 12 is accompanied by MOA and AOA. It’s a declaration confirming the application by a Company Secretary on the Non- Judicial stamp paper of prescribed Value.
    2. Names, descriptions, addresses and occupation of promoters and board members of the company.
    3. Statement of details of assets and liabilities of the company on the date of application.
    4. Estimate of future annual income and expenditure of statement of a brief description of work.
    5. A brief statement on the grounds on which the application is made.
    6. A letter of authority
    7. Payment of prescribed fee
  3. Incorporation forms on MCA portals: These are to be filed with ROC after issuance of company’s license:
    1. Form No. INC-7
    2. Form No. INC-22
    3. Form No. DIR-12
    4. A power of attorney to be executed by directors and subscribers of the proposed company.
                          company registration in Ahmedabad

Minimum Requirements Under Section-8 Company:

  1. At least two shareholders
  2. Minimum two directors Shareholders and Directors could be same
  3. At least one Director should be Indian resident
  4. Income tax PAN (mandatory)
  5. There is no minimum capital required.
  6. Proof of residence (Electricity/ Telephone/ Mobile Bill or Bank Statement)
  7. Identity Proof (Voter ID/ AAdhar Card, etc)
  8. Passport (mandatory)
  9. Registered Office Address Proof (Rent agreement if the premises is not owned by the company)
  10. Documents claiming the ownership such as Sale Deed or House Tax receipt along with an NOCprivate limted company registration in ahmedabad.

How “Dp Accounting & Taxation Services” will Help you for New Company Registration?

DP Accounting & Taxation Services help you to get company registration as early as possible so that you can run your business proper way. Our team will support & guidelines on regular basis. DP Accounting & Taxation Services will touch with you for giving recent update by Govt…

Company Registration is very nominal & easy Process if you are hiring DP Accounting & Taxation Services. After getting incorporation certificate from Govt., New company Registration charges will be starting from Rs.4,999/- onwards.thereafter DP Accounting & Taxation Services will provide our service in Ahmedabad,Gujarat at our best level.

company registration in Ahmedabad

Income Tax Department warning Taxpayers not to do these transactions

income-taxIncome Tax Department warning Taxpayers not to do these transactions

In a bid to implement the government’s mission to make India a cashless or less cash country and weed out corruption, the Income Tax Department has again warned people to refrain from large cash transactions, contravention of which may result in the levy of penalty or dis allowance of tax deductions.

Following are the five transactions that Income Tax Department doesn’t want you to do.

1) Simple Don’t accept cash of Rs 2,00,000 or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion. Instead of cash, you are advised to use best an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account for such transactions. However, the said restriction shall not apply to government, any banking company, post office savings bank, co-operative bank or a person notified by the Central Government. Section 271DA of the Income Tax Act provides for levy of penalty on a person who receives a sum in contravention of the provisions of section 269ST. The penalty shall be equal to the amount of such receipt. However, the penalty shall not be levied if the person proves that there were good and sufficient reasons for such contravention.

2) Don’t receive or repay specified sum exceeding Rs 20,000 or more in cash for transfer of immovable property and use account payee cheque or account payee demand draft or use of electricity clearing system through a bank account. “Specified sum” means any sum of money receivable, whether as advance or otherwise, in relation to transfer of an immovable property, whether or not the transfer takes place. Contravention of the provisions of section 269SS will attract penalty under section 271D. Penalty under section 271D shall be levied of an amount equal to loan or deposit taken or accepted.

3)Don’t pay more than Rs 10,000 in cash relating to expenditure of business/profession. If such expenses exceeding Rs 10,000 are made in any mode, other than by an account payee cheque drawn on a bank, or account payee bank draft, or use of electronic clearing system through a bank account, no deduction shall be allowed in respect of such expenditure in the profit and loss account.

4)Don’t donate in excess of Rs 2,000 in cash to a registered trust or political party. Not only you won’t be able to claim deductions under section 80G of the Income Tax Act for such donations, but appropriate actions would be initiated against the trust or political party for encouraging money laundering.

5) Don’t pay health insurance premiums in cash. If you make any payment in cash on account of premium on health insurance facilities, you won’t get deductions under Section 80D of the Income Tax Act.
So, it is advisable for your own good not to violate the above rules, as the Income Tax Department is seeking information regarding such violations, black money or benami transactions

http://www.dptaxexperts.com

 

 

Most Important Point starting new Financial year 2019-2020

Most Important Point starting new Financial year 2019-2020

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Below are the key points in relation to Goods and Services Tax (‘GST’) in view of the end of Financial Year 2018-19 and finalization of accounts

Turnover of previous financial year to be reported in Form GSTR-1 return for April 2019
Turnover for the Financial Year 2018-19 to be reported in Form GSTR-1 for the Financial Year 2019-20.
As per return instruction, the said turnover should be auto-populated on the GST portal (based on GST returns filed during the Financial Year 2018-19). In such a scenario, it would be prudent to verify the auto-populated turnover.
Where GST portal does not auto-populate turnover for the Financial Year 2018-19, then the same should be manually entered in the Form GSTR-1 for April 2019.
It is recommended that the said turnover should be computed and kept ready well in advance for the purpose of verifying/ reporting turnover in Form GSTR-1 for the month of April 2019.

Input Tax Credit (‘ITC’) reversal to be recomputed for the Financial Year 2018-19

Rule 42(2) of the CGST Rules, 2017 provides for recalculation of ITC reversal basis the turnover ratio (exempt turnover vs total turnover) for the Financial Year 2018-19.
Any shortfall in ITC reversal (vis-à-vis ITC reversed previously on a monthly basis) should be added in output tax liability computed for the subsequent months, not later than September 2019. Interest, as applicable should also be discharged on such shortfall from 1 April 2019 till the date of actual payment. Hence, it would be prudent to determine such shortfall in reversal and discharge the same at the earliest in order to minimise the interest implication.
Any excess ITC reversal (vis-à-vis ITC reversed previously on a monthly basis) should be availed in Form GSTR-3B filed for the subsequent months, not later than the month of September 2019.

ITC in respect of input invoices issued during Financial Year 2017-18
Proviso to Section 16(4) of the CGST Act, 2017 inserted vide Order No 02/2018-Central Tax provides an extension for availment of ITC on invoices pertaining to the Financial Year 2017-18 up to due date for filing Form GSTR-3B for the month of March 2019.
Vendor invoices pertaining to the Financial Year 2017-18 should be identified and corresponding ITC (subject to eligibility) should be availed before the aforesaid due date, otherwise ITC would lapse.
ITC on debit notes in relation to invoices issued during Financial Year 2017-18 (irrespective of whether such debit notes are issued in Financial Year 2017-18 or 2018-19) should be availed before the aforesaid due date (ie 20 April 2019).
Accordingly, it may be prudent to co-ordinate with vendors to ensure that all debit notes pertaining to invoices issued in Financial Year 2017-18 are issued and received for timely availment of ITC.

ITC in respect of input invoices issued during Financial Year 2018-19
Section 16(4) of the CGST Act, 2017 states that ITC on any invoice/ debit note (in respect of invoice issued during Financial Year 2018-19) would not be available after the due date for filing return for September 2019 or furnishing Form GSTR-9 for the Financial Year 2018-19; whichever is earlier.
Vendor invoices/ debit notes pertaining to the Financial Year 2018-19 should be identified and corresponding ITC (subject to eligibility) should be availed before the aforesaid due date ie 20 October 2019, otherwise ITC would lapse.
Accordingly, it may be prudent to co-ordinate with vendors to ensure that all debit notes pertaining to invoices issued in Financial Year 2018-19 are issued and received for timely availment of ITC.

Credit notes in respect of invoices raised during Financial Year 2018-19
Section 34(2) of the CGST Act, 2017 prescribes that credit notes issued against invoices pertaining to Financial Year 2018-19 cannot be adjusted in the Form GSTR-1 for the period post after filing the Form GSTR-1 for September 2019 or Form GSTR-9 for the Financial Year 2018-19, whichever is earlier.
Hence, credit notes, if any, pertaining to invoices of Financial Year 2018-19 should be raised and reported in the GST returns before the above prescribed dates.

Rectification of error/ omission in respect of details already furnished in Form GSTR-1 for the Financial Year 2017-18
Proviso to Section 37(3) of the CGST Act, 2017 read with Order No 02/ 2018 – Central Tax provides an extension for rectification of any errors/ omissions in the details furnished in Form GSTR-1 filed for the Financial Year 2017-18 till March 2019
Accordingly, any errors/ omissions in details reported in Form GSTR-1 should be identified and rectified before the aforesaid due date.

Rectification of error/ omission in respect of details already furnished in Form GSTR-1 for the Financial Year 2018-19
The GST Legislation permits rectification of any errors/ omissions in the details furnished in Form GSTR-1 for the Financial Year 2018-19 in the returns to be filed for the subsequent months.
The said rectification is however restricted till furnishing Form GSTR-1 for the month of September 2019 or Form GSTR-9 for Financial Year 2018-19, whichever is earlier.
Accordingly, any errors/ omissions in details reported in Form GSTR-1 should be identified and rectified before the aforesaid due date.

Annual Return (Financial Year 2017-18) and Reconciliation between GST returns and financial statements
Due date for filing annual return for the Financial Year 2017-18 under Form GSTR-9 and Form GSTR-9C has been extended to 30 June 2019 vide Order No 03/2018-Central Tax.
Accordingly, it is prudent to initiate preparation for filing Form GSTR-9 and Form GSTR-9C ie annual return and reconciliation statement.
Details reported in GST returns for Financial Year 2017-18 should be reconciled with the financial statements/ General Ledgers/ Trial balance for the financial year on a GSTIN level – in order to identify discrepancies (if any) in filing of GST returns.
Any shortfall in payment/ excess payment of GST, if any, to be identified and appropriately adjusted in Form DRC–03.

Reconciliation between GST returns and financial statements (Financial Year 2018-19)
Details reported in GST returns for Financial Year 2018-19 should be reconciled with the financial statements/ General Ledgers/ Trial balance for the financial year on a GSTIN level – in order to identify discrepancies (if any) in filing of GST returns.
Any shortfall in payment/ excess payment of GST, if any, to be identified and appropriately adjusted in GST returns to be filed for the subsequent months.

Distribution of credit by ISD registration
Credit is required to be distributed by ISD registration based on the turnover of previous financial year/ previous quarter – as the case maybe.
For distributing the credit availed by ISD registration from April 2019 onwards, the turnover for distribution of credit (of previous financial year or the previous quarter) should be recomputed.

Invoice Series
In accordance with Rule 46 of the CGST Rules, 2017 a unique document series should be introduced for invoices/debit notes/ credit notes to be issued in Financial Year 2019-20.

Letter of Undertaking (LUT)
For continuous availment of benefit of export with payment of IGST post 31 March 2019, it is required to file LUT for Financial Year 2019-20 at the earliest on the GST portal.

what is procedure for applying Trademark/logo/Brand?

What is procedure for applying Trademark/logo/Brand?

 

Quick​ ​and​ ​Easy​ ​Trademark​ ​Registration

 

A trademark is a unique and characteristic brand representation tool that is displayed on products manufactured by a company that upon a glance indicates to the consumers that a certain product has been produced by this company. It can be displayed in the form of a slogan, a logo, a sign, graphic, a particular colour or word; or a combination of these- the best examples of the combination being Coca Cola and BMW who have embedded their logo within the brand name.

It is necessary to have a trademark that sympathies with your brand value and the product that you’re trying to sell. If you wish to make your brand a household name, the best way to go about it is get a trademark for it- in whatever way that complies best with the advertised product.

When we say unique it also means that you need to get your trademark registered as soon as possible because it cannot be predicted as to when exactly someone else is going to have the same idea and get it registered before you do. we are providing service from ahmedabad,Gujarat india.

 

What is Benefits of Trade Mark Registration ?

Provides​ ​a​ ​Separate​ ​Identity​

A trademark takes over as your brand’s prime identity in the market. Customers upon noticing the trademark, either based on previous impressionable experiences or advertisements where the trademark forms a major visual cue, tend to favour the products they recognise and have an idea about.

 

Safeguarding​ ​the​ ​brand

Registering a trademark secures the brand and protects its authenticity. The owners of the trademarks can easily establish their right over them in case of disputes. Furthermore new companies that arrive in the market shall not be able to use similar names for their brand which ensures that the customers don’t get confused.

 

Exclusive​ ​Rights

The owner of Registered Trademark enjoys exclusive right over his trademark. The owner can use the same trademark for all his products. Also, the owner can enjoy the sole ownership of the Trademark and can stop others from the unauthorized use of his Trademark under the same class where it is registered.

 

Builds​ ​Trust​ ​and​ ​Goodwill

The established quality of your product and services are known by everyone through the trademark and which establishes trust and goodwill among the customers in market. It helps in creating permanent customers who are loyal and always opt for the same brand.

 

Differentiates​ ​Product

It makes easy for customers to find your products. It makes your product and identity of products different from that of the existing and foreseen competitors and acts as efficient commercial tool. The logo can communicate your vision, quality or unique characteristic of your company and any organisation.

 

Recognition​ ​to​ ​product’s​ ​Quality

It gives recognition to the quality of the product. Customers attach the product’s quality with the brand name and this image is created in the market about the quality of a particular brand which helps in attracting new customers as they can differentiate the quality of a product by the logo/brand name.

 

Use​ ​of​ ​®​ ​symbol

Once the trademark is registered you can use the ® symbol on your logo stating that it is a registered trademark and no one can use the same trademark. It is exclusive of all types of usages as well as rights. If someone else use the trademark then you can also sue the party if the trademark is registered.

 

Which are Necessary​ ​Basic Documents​ ​for Trade Mark registration?

Soft Copy

Soft copy of Trademark/Logo (image, sound or shape)

Proof

Name and address of Trademark Applicant

Class

Classification or Trademark Class

Description

Description of the goods and services.

 

MCA Update : Forms to be filled for this year:

MCA Update :

company_registrationForms to be filled for this year:

Initial MSME 1 : within 30 days from date of availability of form on MCA portal

One time DPT 3 : within 90days from date of notifications i.e 20th April 2019

E form Active ( INC 22A) : on or before 25the April 2019

DIN 3KYC : on or before 30th April 2019

MSME 1 (1st half) : on or before 30th April 2019

Annual DPT 3 : on or before 30th June 2019

Annual Filling AOC 4: on or before 30th October 2019

MSME 1 (2nd half) : on or before 30th October 2019

Annal Return MGT 9: on or before 29th November 2019

CA Nitin Patil