Ewaybill system for Intra-state movement of goods would be rolled out from 25.04.2018 in some states

Ewaybill system for Intra-state movement of goods would be rolled out from 25.04.2018 in some states

E-way-Bill

As per the decision of the GST Council, e-Way Bill system for ​I​nter-State movement of goods has been rolled​-​out from 01st April, 2018. As on 20th April, 2018, e-Way Bill system for ​Intra-State movement of goods has been rolled-out in the States of Andhra Pradesh, Bihar, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Telangana, Tripura, Uttarakhand and Uttar Pradesh.  E-Way Bills are getting generated successfully and till 22ndApril, 2018 more than one crore eighty four lakh e-Way Bills have been successfully generated which includes more than twenty two lakh e-Way Bills for ​Intra-State movement of G​oods.

It is hereby informed that e-Way Bill system for ​I​ntra-State movement of goods would be implemented from 25th April, 2018 in the following States/ Union Territory:-

 

(i)            Arunachal Pradesh

(ii)          Madhya Pradesh

(iii)         Meghalaya

(iv)         Sikkim

(v)          Puducherry

 

With the roll-out of e-Way Bill system in these States / Union Territory, it is expected that trade and industry will be further facilitated insofar as the transport of goods is concerned, thereby eventually paving the way for a nation-wide single e-Way Bill system. Trade and industry and transporters located in these States/Union Territory may obtain registration /enrollment on e-Way Bill portal namely https://www.ewaybillgst.gov.in at the earliest without waiting for the last date.

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Six more States to roll out Intra-State E-Way Bills from April 20

Six more States to roll out Intra-State E-Way Bills from April 20

E-Way-Bill

As per the decision of the GST Council, e-Way Bill system for all inter-State movement of goods has been rolled out from 01st April, 2018. As on 15th April, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Gujarat, Karnataka, Kerala, Telangana and Uttar Pradesh.  E-Way Bills are getting generated successfully and till 17thApril, 2018 more than one crore thirty three lakh e-Way Bills have been successfully generated which includes more than six lakh e-Way Bills which have been generated for intra-State movement of goods from 15th to 17th of April, 2018.

A statement released by the Finance Ministry informed that e-Way Bill system for intra-State movement of goods would be implemented from 20th April, 2018 in the States of Bihar, Jharkhand, Haryana, Himachal Pradesh, Tripura and Uttarakhand.

With the roll-out of e-Way Bill system in these States, it is expected that trade and industry will be further facilitated insofar as the transport of goods is concerned, thereby eventually paving the way for a nation-wide single e-Way Bill system. Trade and industry and transporters located in these States may obtain registration/enrolment on e-Way Bill portal namely https://www.ewaybillgst.gov.in  at the earliest without waiting for the last date.

GoM finalizes New Simplified GST Return Form

GoM finalizes New Simplified GST Return Form

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The Group of Ministers (GoM), last day finalized a new simplified model for GST return under the Goods and Services Tax ( GST ). As per the new model, credit could be given on a provisional basis once the supplier uploads the sales invoice.

As it looks to finalise a single-page return form for businesses under GST, the panel today met about 40 industry representatives and 15 tax tax experts to discuss simplification of return filing process.

A “fusion” model of return filing after incorporating stakeholder suggestion has been worked out, which will be placed before the GST Council for approval, Modi said while addressing the media.

“Till the simplified return filing process is finalised, GSTR-3B will continue,” Bihar Deputy Chief Minister Modi said.

The GST Council, headed by Finance Minister Arun Jaitley has decided to continue with the existing system. One of the models presented before the council was provisional credit should not be granted unless the taxpayers file returns and pay taxes.

The second model stated that provisional credit could be granted to a taxpayer, but returns have to be filed within 3-4 months and taxes have to be paid or else the credit amount would be reversed.

After consulting the stakeholders today, the GoM today worked out a third model for return filing as per which credit could be extended once the invoice uploaded by the supplier is verified by the purchaser on the GSTN portal.

Explaining the contours of the “fusion” model, an official said that the Central Board of Indirect Taxes and Customs (CBIC) is now working on mechanism to deal with instances of non payment of taxes even after availing credit.

The official said the model, being drafted by the tax officers, would be to sent notices to taxpayer in case he fails to pay the due taxes seeking explanation, following which the credit could be reversed.

Modi said there was unanimity in the GoM that businesses would have to file only one return every month, instead of GSTR-1, 2 and 3 as was conceived earlier.

TDS RATES CHART FOR FY 2018-19 AY 2019-20

TDS RATES CHART FOR FY 2018-19 AY 2019-20

TDS-TCS-Due-Dates-for-F.Y-2017-18-A.Y-2018-19

 

TDS RATE CHART
(FY: 2018-19 II AY: 2019-20)

SECTION NATURE OF PAYMENT Payment in Excess of ** TDS Rate for
Individual (%)
192 Salary As per the slab rates applicable to Assessee (30% if no valid PAN)
192A Payment of accumulated balance due to an employee under Employees Provident Fund Scheme,1952. (w.e.f 01-06-15) Rs. 50,000/- 10% (30% if no valid PAN)
193 Interest on securities

a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;

b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder;

c) any security of the Central or State Government;

d) interest on any other security

In case of security,at the time of payment  or credit , whichever is earlier, when the amount exceeds Rs. 10,000/-

In case of debentures ,at the time of payment  or credit , whichever is earlier, when the amount exceeds Rs. 5,000/-

10% (20% if no valid PAN)
194 Dividend other than the dividend as referred to in Section 115O Before making payment to’ shareholder, other than dividend declared U/s. 115O, when amount exceeds Rs. 2,500 10% (20% if no valid PAN)
194A Interest other than Interest on Securities Rs. 10,000/-p.a. (in case of Banks)

Rs. 5000/- p.a. (in case of others)

Rs. 50000/- p.a. (in case of Senior Citizen)
{Applicable from 01.04.18}

10% (20% if no valid PAN)
194B Winning from Lotteries ,Crossword Puzzles, card games & other games  of any sort Rs. 10,000/- p.a. 30% (30% if no valid PAN)
194BB Winnings from horse races Rs. 10,000/- p.a. 30% (30% if no valid PAN)
194C Payment to Contractors & sub contractors 30,000 (per payment) or 1,00,000 p.a. For individuals /HUF 1% – (20% if no Valid PAN)

For Others- 2% – (20% if no Valid PAN)

194D Insurance Commission Rs. 15,000/- 5% (20% if no valid PAN)
194DA Payment under life insurance policy (including bonus) Rs.1,00,000/- p.a. 1% (20% if no valid PAN)
194E Payment to Non-Resident Sportsmen or Sports Association Any Amount 20% (20% if no valid PAN)
194EE Payment in respect of deposit under National Savings scheme (NSS) Rs. 2,500/- 10% (20% if no valid PAN)
194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India Any Amount 20% (20% if no valid PAN)
194G Commission on sale of lottery tickets Rs. 1,000/- 5% (20% if no valid PAN)

10% in case of company

194H Payment of commission brokerage Rs. 15,000/-p.a. 5% (20% if no valid PAN)
194I Rent – Plant & Machinery or Equipments Rs. 1,80,000/-p.a. 2% (20% if no valid PAN)
194I Rent – Land & Building Rs. 1,80,000/-p.a. 10% (20% if no valid PAN)
194IA Payment on transfer of certain immovable property other than agriculture land. Rs. 50 lacs 1% (20% if no valid PAN)
194IB Rent payable by an individual or HUF not covered u/s. 194I (W.E.F. from 01.06.2017) Threshold limit Rs. 50,000/- per month.

Tax shall be deducted on such income at the time of credit of rent, for the last month of the previous year or the last month of tenancy if the property is vacated during the year, as the case may be, to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier.

5%
194J Any sum paid by way of

a) professional fees

b) technical fees

c) royalty

d) remuneration /fees / commission to a director

e)For not carrying out any activity in relation to any business

f) For not sharing any know-how, patent, copyright etc.

Rs. 30,000/- p.a. For call center operator (only business) –  2%
For others 10 %(20%if no valid PAN) Wef 01.06.2017

 

194LA Payment on transfer of certain immovable property other than agricultural land Rs. 2,50,000 p.a. 10% (Concessional rate of TDS is only available on interest payment for borrowings made before the 1st July, 2020. (20% if no valid PAN)
195 Payment made to Non-Residents As per rates prescribed under income tax or DTAA

-By ACA SOURAV BAGARIA

**Surcharge, education cess and secondary and higher education cess will be added to the above tax rate, as applicable.

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