How to change mobile number and Email ID of authorized signatory in GST

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Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf had used their own email and mobile number during the process. They are now not sharing the user credentials with the taxpayer on whose behalf they had done the registration in the first place and the taxpayer is at their mercy.
With a view to address this difficulty of the taxpayer, a functionality to update email and mobile number of the authorized signatory is available in the GST System. The email and mobile number can be updated by the concerned Jurisdictional tax authority of the taxpayer as per the following procedure provided in the press release dated 14th June 2018:
Steps to be followed:-
1. Taxpayer is required to approach the concerned jurisdictional Tax Officer to get the password for the GSTIN allotted to the business.. Allotted jurisdiction is displayed in red text>
2. Taxpayer would be required to provide valid documents to the tax officer as proof of his/her identity and to validate the business details related to his GSTIN.
3. Tax officer will check if the said person is added as a Stakeholder or Authorized Signatory for that GSTIN in the system.
4. Tax officer will upload necessary proof on the GST Portal in support to authenticate the activity.
5. Tax officer will enter the new email address and mobile phone number provided by the Taxpayer.
6. After upload of document, Tax officer will reset the password for the GSTIN in the system.
7. Username and Temporary password reset will be communicated to the email address as entered by the Tax Officer.
8. Taxpayer need to login on GST Portal https://www.gst.gov.in/ using the First time login link.
9. After first time login with the Username and Temporary password that was emailed to him, system would prompt the taxpayer to change username and password. The said username and password can now be used by the taxpayer.

Which application form to use for partnership deed ?

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Registration of Partnership Firm “Indian Partnership Act 1932” Application forms

• Form I: Registration Form for Incorporation of a Partnership Firm
• Form II: Changes in name and principal place of business of the firm.
• Form III: Change in other then principal place of business of the firm.
• Form IV: Change in name and permanent addresses of the partners
• Form V: Change in constitution of firm, addition or retirement of partners.
• Form VI: Dissolution of the firm
• Form VII: Minor partner attaining age of majority.

Why do you need to Invest your funds in Mutual funds ?

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Normally people will invest either in very safe Investment i.e FD with Bank or very Risky Investment i.e share market, chit funds etc. Mutual fund is one which gives a wide range of options to customers to choose between Reward Vs Risk. Mutual funds are managed by professional fund management company, wherein they invest both in Government bonds and equity.

Before you choose between own investment vs Mutual funds please read these para,
As an investor, you can either manage your finances yourself, or hire a professional firm. You opt for the latter when:
1. You do not know how to do the job best – many of us hire someone to file our income tax returns, or almost all of us get an architect to do our house.
2. You do not have enough time or inclination. It’s like hiring drivers even though we know how to drive.
3. When you are likely to save money by outsourcing the job instead of doing it yourself. Like going on a journey driving your own vehicle is far costlier than taking a train.
4. You can spend your time for other activities of your choice / liking
Professional fund management is one of the best benefits of Mutual Funds. The infographic on the left highlights all the others. Given these benefits, there is no reason why one should look at any other investment avenue.

Due date for Monthly GST Compliance

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Now due date for filing GST from April 2018 to June 2018 has been notified. From May 2018 sales data has to be uploaded first and then monthly returns has to be uploaded. As planned during implementation stage due dates are falling in place from May 2018.

GSTR-1 GSTR-3B
Description Sales upload Monthly return
Notification 18/2018 16/2018
Apr-18 31st May 20th May
May-18 10th June 20th June
Jun-18 10th July 20th July

How to cancel the E-way bill after 24 Hours ?

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In case you have already dispatched the goods and 24 hours is over, due to some reason same goods you want to sell it to the third party how to handle the E-way bill issue. No reason to get panic follow the simple steps,

Step-1 since 24 hours is over from your end  So ask your buyer to reject they have 72 hours to do so

Step -2  Pass credit note for the same value and generate a E-way bill for the as Inward|Sale returns

Step -3 Generate a fresh Invoice and Fresh E-way bill

Which ITR Form to use for AY 2018-19

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ITR-1 For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh

ITR-2 For Individuals and HUFs not having income from profits and gains of business or profession:

ITR-3 For individuals and HUFs having income from profits and gains of business or profession.

ITR-4 For Presumptive Income from Business or Profession

ITR-5 For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

ITR-6 For Companies other than companies claiming exemption under section 11:

ITR-7 For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) i.e Trust, Political parties

How to Extend the Validity Period of E-Way Bill ?

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Q-1 What has to be done, if the validity of the e-way bill expires?
If the validity of the e-way bill expires, the goods are not supposed to be moved. However, under the circumstance of ‘exceptional nature and trans-shipment’, the transporter may extend the validity period after updating reason for the extension and the details in PART-B of FORM GST EWB-01.

Q-2 Can I extend the validity of the e-way bill?
Yes, one can extend the validity of the e-way bill, if the consignment is not being reached the destination within the validity period due to exceptional circumstance like natural calamity, law and order issues, trans-shipment delay, accident of conveyance, etc. The transporter needs to explain this reason in details while extending the validity period.

Q-3 Who can extend the validity of the e-way bill?
The transporter, who is carrying the consignment as per the e-way bill system at the time of expiry of validity period, can extend the validity period.

Q-4 How to extend the validity period of e-way bill?
There is an option under e-way bill to extend the validity period. This option is available for extension of e-way bill before 4 hours and after 4 hours of expiry of the validity. Here, transporter will enter the e-way bill number and enter the reason for the requesting the extension, from place (current place), approximate distance to travel and Part-B details. It may be noted that he cannot change the details of Part-A. He will get the extended validity based on the remaining distance to travel.

Can you file TRAN-2 Manually now ?

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The last date for filing the TRAN-1 was 27th December 2017 many people could not file the returns due to GST Portal problem in the last four days (24th December 2017 to 27th December 2017). Due to which some people have submitted but could not file returns and many could not even submit the data. For those who have submitted but could not file the returns government has already brought circular 34/2017 which allowed them to complete the TRAN-1 Form. For those who could not submit the returns at all, Allahabad, Mumbai & Gujarat high courts instructed the GST council / Union Government to reopen the TRAN -1 filing facility since substantial customers couldn’t file it due to technical glitches at the GST portal. Many Industrial bodies trying to impress more on the GST Council to allow this facility but not done till date at the GST common portal. In the absence of E-filing facility, It is advisable to file the manual TRAN-1/TRAN-2 from at the concerned GST authorities in order to claim the relief of the high court judgement at a later stage.

Any queries please revert to nithesh@ncsco.in or Mob: 7760052539

Can you file 3 years IT Returns at once ?

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This is a very common question by many people to CA’s and tax consultants. Till 31st March 2018 there was an option to file 2 years IT returns at once. From April 2018 there is no option to file the earlier years returns. Presently we can file returns for FY 2017-18 (i.e AY 2018-19). However returns can be prepared manually and filed at Income tax office, but whether such returns will be processed/granting refund is left to the discretion of the officer. Normally bank will ask for 3 years returns in such case manual return also works. Exceptionally if there is a notice from Income tax department then returns can be filed online.