ICAI releases E publication on E way bill under GST

ICAI releases E publication on E way bill under GST



In GST regime, a nationwide E-way Bill portal namely www.ewaybillgst.gov.in has been implemented w.e.f. 01.04.2018 for inter-State movement of goods across the country and intra state movement of goods would be monitored through the same portal but not later than June 1, 2018.

The common e-way bill system will help taxpayers in doing compliances in easy way where movement of inter state goods in more than two States involved and simultaneously will provide Government a mechanism for tracking & capturing of data and holding guilty to errant suppliers.

Realizing the importance of e-way bill and the procedure involved, the Indirect Taxes Committee of ICAI has come out with its “E- publication on E-way Bill under GST”.

This publication has been specifically designed to provide in-depth knowledge of provisions pertaining to E-way bill under GST in a simplified manner along with PPT and FAQs.


Click here to download the E-publication released by Institute of Chartered Accountants of India


Glimpse of New requirements in ITR forms for AY 2018-19

Glimpse of New requirements in ITR forms for AY 2018-19


This list is not detailed one and for guidance only. Please go through the ITRs as and when required.

1. Additional disclosure requirements for Ind AS Compliant Companies.
[Applicable for ITR 6]

2. Fees for late filing of return [Section 234F].
[Applicable for ITR 1 to 7]

3. Require more details of salary and house property income.
[Applicable for ITR 1 and 4]

4. Additional details to be furnished by taxpayers opting for presumptive scheme such as amount of secured/unsecured loans, advances, fixed assets, capital account etc.
Further, new ITR 4 seeks GSTR no. of the assessee and turnover as per GST return filed by him.
[Applicable for ITR 4]

5. Transfer of TDS Credit to Other Person.
[Applicable for ITR 2 to 7]

6. Capital Gains in case of transfer of unquoted shares.
[Applicable for ITR 2, 3, 5, 6 and 7]

7. Reporting of sum taxable as Gift.
[Applicable for ITR 2, 3, 5, 6 and 7]

8. Now Partners cannot use ITR 2.

9. Revised Depreciation Schedule i.e. the highest rate of depreciation for any block of asset is restricted to 40%
[Applicable for ITR 3, 5 and 6]

10. Details of business transactions with registered and unregistered suppliers under GST.
[Applicable for ITR 6]

11. Assessee claiming DTAA relief is required to report more details.
[Applicable for ITR 2, 3, 5 and 6]

12. Info relating to capital gains exemption to be furnished in detail.
[Applicable for ITR 2, 3, 5 and 6]

13. Disallowance of expenses in case of TDS default (for residuary income).
[Applicable for ITR 2, 3, 5, 6 and 7]

14. Taxability on remission of trading liability in case of ‘Income from other source’.
[Applicable for ITR 2, 3, 5, 6 and 7]

15. Income from transfer of Carbon Credits.
[Applicable for ITR 2, 3, 5, 6, 7]

16. Impact on profit or loss due to ICDS deviation.
[Applicable for ITR 3, 5 and 6]

17. Details of GST paid and refunded.
[Applicable for ITR 3, 5, and 6]

18. Removal of ‘Gender’ from personal information.
[Applicable for ITR 2, 3 and 4]

19. Details of foreign bank account of non-residents.
[Applicable for ITR 2, 3, 4, 5, 6 and 7]

20. Reporting of CSR appropriations.
[Applicable for ITR 6]

21. Break-up of payments/receipts in foreign currency.
[Applicable for ITR 6]

22. Ownership information in case of unlisted company.
[Applicable for ITR 6]

23. Trusts to disclose more information in ITR.
[Applicable for ITR 7]

24. Details of fresh registration upon change of objects [Section 12A].
[Applicable for ITR 7]

25. Taxability of Dividend in excess of Rs. 10 lakhs.[Section 115BBDA]
[Applicable for ITR 7]

26. No deduction for corpus donations made to other institutions [Section 11].
[Applicable for ITR 7]

27. Political Parties to confirm if cash donations are received [Section 13A].
[Applicable for ITR 7]






As per Latest Circular No. 40/14/2018-GST dt. 06.04.2018, Exporters to file LUT in FORM GST RFD-11 on the portal only. LUT will be deemed to be accepted as soon as ARN is generated. No document needs to be physically submitted to the jurisdictional office.


Download Circular Here



Clarification regarding Circulation of Draft Form 9-C of GST Audit on Social Media

Clarification regarding Circulation of Draft Form 9-C of GST Audit on Social Media


This is to inform that ICAI is drafting a format for GST audit (Form 9C) for submission to the Government for their consideration. The same is proposed to be submitted by April, 2018 and what is moving on what’s up or Social Media is not the proposed one.

Download Notification here