Nil DPT-3 & MSME is not required to be filed:Deputy director, MCA
E-form DPT-3 to be filed twice
- 1) DPT-3 HAS TO BE FILED TWICE :
- a) First DPT-3 for amounts which are NOT deposits (exempted deposits) outstanding as on 31.3.2019 AND received on or after 1.4.2014 by 29th June 2019 where Auditor's certificate is NOT mandatory.
- b) Second DPT-3 is for transaction during the year, which are deposits as well as transaction during the year, which are not deposits (exempted deposits) by 30 June 2019, where Auditor's Certificate is mandatory. This is to be filled every year.
- 2) Nil DPT-3 is not required to be filled, as explained by DD, MCA GNL-2 Issue:File ADT1 now
- 3) ADT-1 / GNL 2 issue: Companies which had filled Form no. ADT-1 through GNL-2 as an attachmcnt during the period from 01.04.2014 to 20.10.2014 may file e- form no. ADT- 1 for appointment of Auditor for the period upto 31.03.2019 without fee, till 15.06.2019. You can file ADT1 now. System will not take fees automatically, if GNL2 already filled.
- 4) E-FORM MSME-1 TO BE FILED TWICE
- a) Form MSME-1 also has to be filed twice:
- i) First MSME-1 for amounts outstanding as on 22.1.2019. This is a one time return.
- ii) Second MSME-1 for transaction during the half year. This is a half yearly return.
- b) MSME-1 is also NOT REQUIRED to be filed where there is NIL reporting/outstanding.
- c) Form MSME-1 is required to be filed only when the amount is outstanding beyond 45 days from date of acceptance of supplies.
- d) It is to be filed only when amount is due to MSME Enterprise and company should take steps to find out whether supplier is MSME or not.
- e) Both MSME returns are to be filed by 30th May 2019.
- f) Certification by professional is NOT required in MSME Form.
- g) These Forms are to be filed only by Companies
*GST- West Bengal AAAR- Input tax credit on lease rent-*
The Appellant is constructing the Eco Resort on his own account in course of furtherance of its business of providing hospitality service, for which one of the input service availed is lease rental service. Section 17(5)(d) of CGST Act, 2017 restricts the Appellant from availing input tax credit on lease rental paid. The appeal thus fails and dismissed.
*2019-VIL-43-AAAR*
*Cabinet approves creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT): (Press Release ID: 1561067)*
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT). The National Bench of the Appellate Tribunal shall be situated at New Delhi. GSTAT shall be presided over by the President and shall consist of one Technical Member (Centre) and one Technical Member (State).
Regards, CA BALVINDER SINGH OBEROI (Team AAC)
- Interim budget 2019 - Modi government.
- Direct benefit transfer to small farmer.
- Those farmer who have less than 2 hectares of land they will get 6000 per annum.
- Starting from 1st December 2018.
- For this the government gets a extra burden of 75,000 crore.
- Enough to win election.
- Record breaking collection.
- In the January 2019 the GST COLLECTION is 1,03,000 crores.
*”10 things to know ~ 32nd GST Council Meeting”*
In the 32nd GST Council meeting, held on January 10, 2019, the council proposed various relief for MSME sector such as widening the scope of composition scheme, simplification of compliances, free accounting-cum-billing software for small taxpayers, so on and so forth. All these proposals would be effective from the April 1, 2019.
- MSMEs engaged in supply of goods (not services) get relaxation from GST Registration. The existing threshold limit of Rs. 20 lakhs for obtaining the GST registration and levy of GST has been increased to Rs. 40 lakhs. The GST Council Meeting has given a choice to the States to choose the applicable threshold limit from Rs. 20 lakhs or Rs. 40 lakhs. The States have to take a decision on this within a week. No such relaxation has been given to supplier of services.
- The Govt. shall provide a free accounting-cum-billing software to small taxpayers.
- The limit of annual turnover, in the preceding financial year, for availing of the compositions scheme for goods has been increased from Rs. 1 Crore to Rs. 1.5 Crores. For Special category states, the Council has given the liberty to the States to decide independently about the threshold limit within one week.
- Currently, composition suppliers are required to file GSTR 4 on quarterly basis. The Council has proposed to simplify the compliance procedure for such suppliers. The suppliers shall now be required to file just one return on annual basis, while as the payment of tax shall continue to be on quarterly basis. It is not clear whether annual return to be filed by composition supplier in Form GSTR-9A shall continue or not.
- The option to avail of composition scheme has been extended to service providers who have the turnover of up to Rs. 50 lakhs during the previous financial year. Under this scheme, the service providers shall be liable to pay GST at the rate of 6% (3% CGST + 3% SGST). The said scheme shall be applicable to both service providers as well as suppliers of goods and services.
- A new cess at the rate of 1% shall be levied on intra-state supply of goods or services within the state of Kerala for a period of not exceeding 2 years for revenue mobilization for natural calamities.
- GST Council has asked the group of ministers to evaluate the proposal of extending the composition scheme to real estate sector so as to give a boost to residential housing segment.
- The Council has also asked the group of ministers to examine the GST rate structure on Lotteries.
- All the proposals made in 32nd GST Council Meeting shall be effective from April 1, 2019. The Council has clarified that the changes made by GST Amendment Act would be applicable from February 1, 2019.
- Last date for passing the examination for GST practitioners has been further extended till December 31, 2019.
