FIT Wealth Advisors LLP

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18/03/2017

ЁЯНО *GSTUpdate:*

The Goods and Services Tax (GST) Council, headed by Finance Minister Arun Jaitley, on Thursday, 16/03/2017 approved the remaining two crucial supplementary bills State GST (SGST) and Union Territory GST (UTGST) - moving the proposed July 1 implementation of the country's biggest tax reform closer to reality.

ЁЯСЙ "The Council has granted formal approval to all five legislations," said Finance Minister Arun Jaitley after the Council's 12th meeting on Monday.

ЁЯСЙ *Final drafts of the three other bills Integrated GST (IGST), Central GST (CGST) and Compensation bill had beencleared by the Council in its previous meetings.*

ЁЯСЙ With all five draft laws now being given the green signal by the Council, they will next be sent to the Cabinet for approval and subsequently to Parliament, which is currently in session, for the final nod.

ЁЯСЙConsent from both Lok Sabha and Rajya Sabha would conclude the legislative requirement for the rollout of the new indirect tax regime.
Once the laws are passed,Jaitley said, two important acts remain. The first pertains to formulation of rules - five of which have already been approved. He said the Council would get the final draft of the other four rules by next week and discuss them at the GST Council's next meeting on March 31.

ЁЯСЙ Jaitley said that the next step after that would be the fitment of various commodities into tax slabs. "After that [fitment], we will be ready for GST implementation," said the Finance Minister.

ЁЯСЙ The industry has been particularly looking as to how items would be categorised under various slabs as they need at least two-three months to prepare themselves to adjust to the shift in tax regime.
*The Council has agreed on a four-slab structure 5, 12, 18 and 28 percent along with a cess on luxury and "sin" goods such as to***co.* Jaitley said on Thursday that the *cess* has been capped at 15 percent for the four to five commodities including luxury cars and aerated drinks thatfall in this category.

ЁЯСЙ Under the GST, the states and the Centre will collect identical rates of taxes on goods and services.
ЁЯНН For instance, *if 18 percent is the GST rate on a product, both the states and the Centre will get 9 percent each called the CGST and SGST rates.*

ЁЯСЙ The Centre will also levy and collect the *IGST* on *all inter-state supply of goods and services*. The IGST mechanism has been designed to ensure seamless flow of *input tax credit from one state to another.*

ЁЯНУ Regards:
*Adv Nitin gupta*

18/03/2017

ЁЯНО Article on *FSSAI* тЬНЁЯСА
---------------------------------------------

ЁЯМ╜ *What is FSSAI?*ЁЯдФЁЯЩЗтАНтЩА

Food Safety and Standards Authority of India is established to exercise the powers granted to, and to perform the functions assigned to, it under the Food Safety and Standards Act. It is called as the Food Authority. ЁЯПв The Food Authority is a body corporate, having perpetual succession and a seal with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued. The Head office of FSSAI is located at Delhi and other regional offices are located in other states. We can consult in your Responsibilities, Liability, Food recall procedures with our years of experience. Register with us for FSSAI food license.ЁЯдЭ

FSSAI is under the control of Government of India and Ministry of Health and Family Affair. The FSSAI has been established under the *Food Safety and Security Act of 2006* that sets standards for food products based on science and regulates their production, storage, distribution, sales and imports to ensure they are safe for consumption.

ЁЯНС *Licensing and registration of food business.*ЁЯХ║ЁЯдФ

No person shall commence or carry on any food business except under a license with exception of a tiny food business operator; but they shall register themselves with food authority. Get your FSSAI Food License here.ЁЯШХЁЯШХ

ЁЯНН FSSAI license is basically a 14- Digit registration number which is printed on food packages.ЁЯТБЁЯП╗ЁЯН▒ЁЯШК

ЁЯНН Based on Annual Turnover a FBO has to either apply for simple registration in *FORM A*ЁЯУЭwith FSSAI or apply for a License given by FSSAI in *FORM B.*ЁЯФЦ

ЁЯНМ *Annual Turnover*

*Registration/License*

тЫ│ Below 12 LakhsЁЯдФЁЯдФ
ЁЯСЙ *Registration FORM A*

тЫ│ 12 тАУ 20 LakhsЁЯСАЁЯСАЁЯХ╡
ЁЯСЙ *State License FORM B*

тЫ│ *Above 20 Lakhs*ЁЯЩДЁЯЩНтАНтЩВ
ЁЯСЙ *Central License FORM B*

ЁЯНН Any FBO without FSSAI food license is liable to pay penalty for the offenses.ЁЯТ╕The Act has defined *OFFENSES AND PENALTIES* related to food.Register now to ensure you are not liable for any offense and penalty thereof.

ЁЯНН FSSAI gives the opportunity of applying for registration / License online all over India.Apply for FSSAI food License online.ЁЯСйЁЯП╗тАНЁЯТ╗ЁЯСиЁЯП╗тАНЁЯТ╗

ЁЯНН State Licensing & Registration is issued by the state authorities operating in each state. List of states accepting the application online is highlighted below linked to the respective state pages.

ЁЯНУ *Why you should get FSSAI License?*ЁЯд╖тАНтЩВЁЯд╖тАНтЩАЁЯдФ

ЁЯСЙThere is a high degree of consumer confidence in safety & quality of food.

ЁЯСЙIt helps to promote innovation in foods products.

ЁЯСЙIt helps in removal of multiple regulations.

ЁЯСЙIt facilitates trade without compromising consumer safety & a larger share.

*What is FSSAI all about?*

тЬНDecentralization of licensing for food products.

тЬНSimple and easy issue of license with time frame of *1 month.*

тЬНThere is no license for small FBOтАЩs, only registration is mandatory.

тЬНThis act assures safety of consumer and ensures full compensation to victim in case of injury or death.

ЁЯХ╣ *Important Instructions*ЁЯУо

Food Business Operator must be registered.┬о

If Food Business Operator is operating in more than 1 state, one additional Central License for Head Office is necessary.ЁЯМРЁЯШК

Importers are allowed to take one single central license at their Import Export Code address.ЁЯФЦ

Food Business Operator must obey the rules and conditions of registration.

*Importance of FSSAI License*

A food license by which is issued by the FSSAI is regarded as a permit which is required to operate a food related business and also in order to ensure good quality of food in your business and for the benefits one from government actions on non-compliances.But, some of the entrepreneurs oversee the importance of FSSAI license as to how this license can be used as an effective marketing tool in order to boost your business. As, any sound food business operator, you would want your business to be helped by any of the tool that could help to promote sales. You can use an FSSAI license for the same, in the following ways:

1. *Consumer awareness* In this age of information, the consumers have become more alert and informative about the quality of food which they eat. With the number of diets and increasing of the healthy eating food options, people are required to know as to what they are consuming is not just safe but is of really good quality. More so after the recent controversy with Maggi, are provingthe consumers have started to take the food safety standard seriously. Thus, foodare proving that they have the FSSAI license, which can give you an added advantage of a solid and an increase in the customer base.

2. *Legal Advantage*Most of the businesses identify getting an FSSAI license as an expensive, time consuming and an inconvenient process of documentation, thus they try to avoid getting the license. But, in reality, the process is not so cumbersome and there are a lot of consultancies that can help you get the license with ease. The actual cost which is required in order to achieve the license is less than what you will have to pay for in as the penalties if you are caught. It is thus advisable for any businessman to firstly 4 the license before you can even officially open your business.

3. *Using the FSSAI Logo* Once you have the license, you can skillfully use the FSSAI logo in your menu cards and also in the pamphlets in order to publicise your foodтАЩs superior quality over others. This however gives you an edge over the many food operators who are not having the license. All the packaged food are thus required to have an FSSAI number. The logo is seen as a mark of validity and also for assurance by the consumers. In fact, the selective customers is to consume food products specifically who are having the license. It helps you in developing a brand name.

4. *Business Expansion* When the time comes for your business to expand in other areas or outlets, you can easily do so with the use of your FSSAI license. The license will help you to establish your reputation and also qualification to grow your business in a new direction with ease. Moreover, the license can also make it easier for you to get bank loans and for funding which is required for expansion.

It is believed that there are more than 5 crore food businesses in the country while only 33 lakhs of them are registered with FSSAI. The importance of the quality standard is ever growing and it is beneficial in the short as well as in the long run for your business in order to have an FSSAI license.

Thank you for Reading ЁЯЩП

18/03/2017

тАЬProfession *FIRST*тАЭ Updates:

# *GST*: With the approval of State & Union Territory GST (SGST & UT-GST) Bills, Council approved all the 5 GST bills. GST rollout from Jul-1 looks certain.

# *GST*: council fixes ceiling on cess @ 15% on pan masala, chewing to***co & ci******es, luxury cars, aerated drinks & mineral water, and coal & lignite.

# *Enemy Property Bill* passed by the Parliament to bring windfall of Rs 1 Lac crores for the govt.

# *IT*: Assessee did not give any explanation on commercial expediency in advancing the money borrowed on interest, to sister concerns, u/s 36 (1) (iii) - AO to re-adjudicate the facts and details тАУ DCIT, Cir-3(1)(2),Mum Vs Global World Power Projects Pvt. Ltd. (2017 (3) TMI 666 - ITAT Mum)

# *ST*: CENVAT Credit - lighting equipments, gloves and Tissues imported for providing taxable services fall within the definition of parts and accessories of capital goods - credit allowed - CCE, C & ST, Hyd-II Vs Prasad Film Laboratories Pvt. Ltd. (2017 (3) TMI 659 - CESTAT Hyd)

10/11/2016

рдЦрд╝рдмрд░ рд╡рд┐рд╕реНрддрд╛рд░ рд╕реЗ ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ЁЯСЗЁЯП╗ рдЬрд╛рдирд┐рдП рдЕрдкрдиреЗ рдорди рдореЗрдВ рдЙрда рд░рд╣реЗ рд╕рд╡рд╛рд▓реЛрдВ рдХреЗ рдЬрд╡рд╛рдм
рджрд┐рд▓реНрд▓реА-
рдкреНрд░рд╢реНрди рдФрд░ рдЙрддреНрддрд░ рдХреЗ рдЬрд░рд┐рдП рдЬрд╛рдиреЗрдВ рдХреНрдпрд╛ рд╣реИ рдпреЗ рдлреИрд╕рд▓рд╛ рдФрд░ рдХреИрд╕реЗ рдмрджрд▓ рд╕рдХреЗрдВрдЧреЗ рдиреЛрдЯ.

рдкреНрд░рд╢реНрди 1 - рдХреНрдпрд╛ рдлреИрд╕рд▓рд╛ рд╣реБрдЖ?

рдЙрддреНрддрд░- 500-1000 рдХреЗ рдиреЛрдЯ рдмрдВрдж рдХрд┐рдП рдЧрдПред

рдкреНрд░рд╢реНрди 2- рдХрдм рд╕реЗ рдмрдВрдж рд╣реЛ рд░рд╣реЗ рд╣реИрдВ рдпреЗ рдиреЛрдЯ?

рдЙрддреНрддрд░- 08 рдирд╡рдВрдмрд░ рд░рд╛рдд 12:00 рдмрдЬреЗ рд╕реЗред

рдкреНрд░рд╢реНрди 3- рдРрд╕рд╛ рдХреНрдпреЛрдВ рдХрд┐рдпрд╛ рдЧрдпрд╛?

рдЙрддреНрддрд░- рднреНрд░рд╖реНрдЯрд╛рдЪрд╛рд░, рд╣рд╡рд╛рд▓рд╛ рдХрд╛рд░реЛрдмрд╛рд░, рдЖрддрдВрдХрд╡рд╛рдж рдХреА рдлрдВрдбрд┐рдВрдЧ рдФрд░ рдЬрд╛рд▓реА рдиреЛрдЯ рд░реЛрдХрдиреЗ рдХреЗ рд▓рд┐рдПред рдФрд░ рдмреЗрдИрдорд╛рдиреЛрдВ рдХрд╛ рдХрд╛рд▓рд╛рдзрди рд╕рд╛рдордиреЗ рд▓рд╛рдиреЗ рдХреЗ рд▓рд┐рдПред

рдкреНрд░рд╢реНрди 4- рдЕрдм рдХреНрдпрд╛ рд╣реЛрдЧрд╛?

рдЙрддреНрддрд░- 500-1000 рдХреЗ рдкреБрд░рд╛рдиреЗ рдиреЛрдЯ рдЖрдк рдмреИрдВрдХ рдпрд╛ рдкреЛрд╕реНрдЯ рдСрдлрд┐рд╕ рдореЗрдВ рдЖрдИрдбреЗрдВрдЯрд┐рдЯреА рдХрд╛рд░реНрдб рдЬреИрд╕реЗ рдЖрдзрд╛рд░ рдХрд╛рд░реНрдб, рдорддрджрд╛рддрд╛ рдкрддреНрд░, рд░рд╛рд╢рди рдХрд╛рд░реНрдб, рдкрд╛рд╕рдкреЛрд░реНрдЯ, рдкреИрди рдХрд╛рд░реНрдб рджрд┐рдЦрд╛рдХрд░ рдмрджрд▓ рд╕рдХреЗрдВрдЧреЗред рдЖрд░рдмреАрдЖрдИ рдиреЗ 500 рдФрд░ 2000 рд░реБрдкрдП рдХреЗ рдирдП рдиреЛрдЯ рдирд┐рдХрд╛рд▓реЗ рд╣реИрдВред рдпреЗ 10 рдирд╡рдВрдмрд░ рд╕реЗ рдЬрд╛рд░реА рд╣реЛрдВрдЧреЗред

рдкреНрд░рд╢реНрди 5- рдкреБрд░рд╛рдиреЗ рдиреЛрдЯ рдмрджрд▓рдиреЗ рдХреА рдХреНрдпрд╛ рдЗрд╕рдХреА рдХреЛрдИ рдЖрдЦрд┐рд░реА рддрд╛рд░реАрдЦ рддрдп рд╣реИ?

рдЙрддреНрддрд░- 30 рджрд┐рд╕рдВрдмрд░ рддрдХ рдпреЗ рдиреЛрдЯ рдЬрдорд╛ рдХрд░рд╛рдП рдЬрд╛ рд╕рдХреЗрдВрдЧреЗред

рдкреНрд░рд╢реНрди- 6 рдХреНрдпрд╛ рдЗрд╕рдХреЗ рдмрд╛рдж рднреА рдХреНрдпрд╛ рдмрджрд▓реЗ рдЬрд╛ рд╕рдХрддреЗ рд╣реИрдВ?

рдЙрддреНрддрд░- рд╣рд╛рдВ, рдпреЗ рдиреЛрдЯ 31 рдорд╛рд░реНрдЪ 2017 рддрдХ рдШреЛрд╖рдгрд╛ рдкрддреНрд░ (рдбрд┐рдХреНрд▓рд░реЗрд╢рди рдлреЙрд░реНрдо) рдХреЗ рд╕рд╛рде рд╕реАрдзреЗ рдЖрд░рдмреАрдЖрдИ рдореЗрдВ рдЬрдорд╛ рдХрд░рд╛рдП рдЬрд╛ рд╕рдХреЗрдВрдЧреЗред

рдкреНрд░рд╢реНрди 7- рдПрдХ рдмрд╛рд░ рдореЗрдВ 500-1000 рдХреЗ рдХрд┐рддрдиреЗ рдиреЛрдЯ рдЬрдорд╛ рдХрд┐рдП рдЬрд╛ рд╕рдХреЗрдВрдЧреЗ?

рдЙрддреНрддрд░-10 рд╕реЗ 24 рдирд╡рдВрдмрд░ рддрдХ рдПрдХ рджрд┐рди рдореЗрдВ 4000 рд░реБрдкрдП рдореВрд▓реНрдп рдХреЗ рдиреЛрдЯ рд╣реА рдЬрдорд╛ рдХрд░ рд╕рдХреЗрдВрдЧреЗред

рдкреНрд░рд╢реНрди 8 - рдХреНрдпрд╛ рдмреИрдВрдХ рдореЗрдВ 9 рдирд╡рдВрдмрд░ рд╕реЗ рд╣реА 500-1000 рдХреЗ рдиреЛрдЯ рдЬрдорд╛ рд╣реЛрдВрдЧреЗ?

рдЙрддреНрддрд░- рдирд╣реАрдВред рдирдИ рд╡реНрдпрд╡рд╕реНрдерд╛ рд▓рд╛рдЧреВ рдХрд░рдиреЗ рдХреЗ рд▓рд┐рдП рдмреИрдВрдХ 9 рдирд╡рдВрдмрд░ рдХреЛ рдмреИрдВрдХ рдмрдВрдж рд░рд╣реЗрдВрдЧреЗред 10 рдирд╡рдВрдмрд░ рд╕реЗ рдЦреБрд▓реЗрдВрдЧреЗред

рдкреНрд░рд╢реНрди 9- рдПрдЯреАрдПрдо рд╕реЗ рдЕрдЧрд░ 500-1000 рдХреЗ рдиреЛрдЯ рдирд┐рдХрд▓реЗ рддреЛ рдХреНрдпрд╛ рдХрд░реЗрдВ?

рдЙрддреНрддрд░- рдПрдЯреАрдПрдо рд╕реЗ 500-1000 рдХреЗ рдиреЛрдЯ рд╣рдЯрд╛рдиреЗ рдХреЗ рд▓рд┐рдП рдЗрдиреНрд╣реЗрдВ рдмреБрдзрд╡рд╛рд░-рдЧреБрд░реБрд╡рд╛рд░ рдХреЛ рдмрдВрдж рд░рдЦрд╛ рдЬрд╛рдПрдЧрд╛ред

рдкреНрд░рд╢реНрди10- 10 рдирд╡рдВрдмрд░ рдХреЗ рдмрд╛рдж рдХреНрдпрд╛ рдПрдЯреАрдПрдо рд╕реЗ рд░рдХрдо рдирд┐рдХрд╛рд▓ рд╕рдХрддреЗ рд╣реИрдБ?

рдЙрддреНрддрд░- 10 рдирд╡рдВрдмрд░ рдХреЗ рдмрд╛рдж рдПрдЯреАрдПрдо рд╕реЗ рдПрдХ рджрд┐рди рдореЗрдВ рд╕рд┐рд░реНрдл 2000 рд░реБрдкрдП рдирд┐рдХрд╛рд▓рдиреЗ рдХреА рд▓рд┐рдорд┐рдЯ рддрдп рдХреА рдЧрдИ рд╣реИред

рдкреНрд░рд╢реНрди 11- рдХреНрдпрд╛ рдХрд╛рд░реНрдб рдФрд░ рдЪреЗрдХ рд╕реЗ рд▓реЗрдирджреЗрди рдкрд░ рдХреЛрдИ рдЕрд╕рд░ рд╣реЛрдЧрд╛?

рдЙрддреНрддрд░- рдирд╣реАрдВред рдХрд╛рд░реНрдб рдФрд░ рдЪреЗрдХ рд╕реЗ рд▓реЗрдирджреЗрди рдкрд╣рд▓реЗ рдХреА рддрд░рд╣ рд╣реЛрддрд╛ рд░рд╣реЗрдЧрд╛ред

рдкреНрд░рд╢реНрди12- рдХреНрдпрд╛ рд╕рд░рдХрд╛рд░ рдиреЗ рдХреЛрдИ рдФрд░ рд░рд┐рдпрд╛рдпрдд рджреА рд╣реИ?

рдЙрддреНрддрд░- рд╣реЙрд╕реНрдкрд┐рдЯрд▓, рдПрдпрд░рдкреЛрд░реНрдЯ, рдмрд╕ рд╕реНрдЯреЗрд╢рди, рдкреЗрдЯреНрд░реЛрд▓ рдкрдВрдк рдкрд░ 11 рдирд╡рдВрдмрд░ рд░рд╛рдд 12 рдмрдЬреЗ рддрдХ 500-1000 рдХреЗ рдиреЛрдЯ рд▓рд┐рдП рдЬрд╛рдПрдВрдЧреЗред

рдкреНрд░рд╢реНрди13- рдХреНрдпрд╛ рдирдП рдиреЛрдЯ рдирд┐рдХрд╛рд▓реЗрдЧреА рд╕рд░рдХрд╛рд░?

рдЙрддреНрддрд░- рд╣рд╛рдВ, рд╕рд░рдХрд╛рд░ 500 рдФрд░ 2000 рдХреЗ рдирдП рдиреЛрдЯ рдирд┐рдХрд╛рд▓реЗрдЧреАред

рдкреНрд░рд╢реНрди 14- рдЗрди рдиреЛрдЯреЛрдВ рдореЗрдВ рдХреНрдпрд╛ рд╣реЛрдЧрд╛?

рдЙрддреНрддрд░- 500 рдХреЗ рдиреЛрдЯ рдкрд░ рд▓рд╛рд▓ рдХрд┐рд▓рд╛ рдФрд░ 2000 рдХреЗ рдиреЛрдЯ рдкрд░ рдордВрдЧрд▓рдпрд╛рди рдХреЗ рдЪрд┐рддреНрд░ рд╣реЛрдВрдЧреЗред

рдкреНрд░рд╢реНрди- 15- рдЖрдк рдХреНрдпрд╛ рдХрд░реЗрдВ рдФрд░ рдХреНрдпрд╛ рдирд╛ рдХрд░реЗрдВ?

рдЙрддреНрддрд░- рдХреЛрдИ 500 рдпрд╛ 1000 рдХреЗ рдиреЛрдЯ рджреЗрдХрд░ рдЗрдиреНрд╣реЗрдВ рдмрджрд▓рдиреЗ рдХреЗ рд▓рд┐рдП рдХрд╣реЗ рддреЛ рдмреИрдВрдХ рди рдЬрд╛рдПрдВред рд╕рд┐рд░реНрдл рдЕрдкрдиреЗ рдиреЛрдЯ рдмрджрд▓реЗрдВред рдХреНрдпреЛрдВрдХрд┐ рдиреЛрдЯ рдмрджрд▓рдиреЗ рдХреЗ рд▓рд┐рдП рдЖрдИрдбреЗрдВрдЯрд┐рдЯреА рдХрд╛рд░реНрдб рдЬрд░реВрд░реА рд╣реЛрдЧрд╛ред рдЗрдирдХрд╛ рдкреБрдЦреНрддрд╛ рд░рд┐рдХреЙрд░реНрдб рд░рдЦрд╛ рдЬрд╛рдПрдЧрд╛ред рд╡реАрдбрд┐рдпреЛ рд░рд┐рдХреЙрд░реНрдбрд┐рдВрдЧ рдХреА рдЬрд╛рдПрдЧреАред рд╣рд╛рд▓рд╛рдВрдХрд┐, рдЖрдк рдЕрдЧрд░ рдЕрдкрдиреЗ рдиреЛрдЯ рдмрджрд▓рдиреЗ рдЬрд╛ рд░рд╣реЗ рд╣реИрдВ рдФрд░ рдпреЗ рдХрд╛рд▓рд╛ рдзрди рдирд╣реАрдВ рд╣реИ рддреЛ рдЪрд┐рдВрддрд╛ рдХрд░рдиреЗ рдХреА рдХреЛрдИ рдмрд╛рдд рдирд╣реАрдВред рдЖрдк рдЖрд░рд╛рдо рд╕реЗ рдиреЛрдЯ рдмрджрд▓ рд╕рдХреЗрдВрдЧреЗред

рдкреНрд░рд╢реНрди16- рдЗрд╕ рдлреИрд╕рд▓реЗ рдХрд╛ рдХрд╣рд╛рдВ рд╣реЛрдЧрд╛ рдЕрд╕рд░? рдХреМрди рд╣реЛрдЧрд╛ рдЬреНрдпрд╛рджрд╛ рдкреНрд░рднрд╛рд╡рд┐рдд?

рдЙрддреНрддрд░- рдкреЗрдЯреНрд░реЛрд▓ рдкрдВрдк, рдореЗрдбрд┐рдХрд▓ рд╕реНрдЯреЛрд░, рдЫреЛрдЯреА рдХрд┐рд░рд╛рдирд╛ рджреБрдХрд╛рдиреЗрдВ, рд╣реЙрд╕реНрдкрд┐рдЯрд▓, рдЯреЛрд▓ рдкреНрд▓рд╛рдЬрд╛, рд╕реНрдЯреНрд░реАрдЯ рдлреВрдб, рдкрд░реНрдпрдЯрди рд╕реНрдерд▓ рдЬреИрд╕реА рдЬрдЧрд╣реЛрдВ рдкрд░ рдХреИрд╢ рдХрд╛ рд╕рдмрд╕реЗ рдЬреНрдпрд╛рджрд╛ рдЗрд╕реНрддреЗрдорд╛рд▓ рд╣реЛрддрд╛ рд╣реИред рдпрд╣рд╛рдВ рд╢реБрд░реБрдЖрддреА рдХреБрдЫ рджрд┐рдиреЛрдВ рдореЗрдВ рд▓реЛрдЧреЛрдВ рдХреЛ рдкрд░реЗрд╢рд╛рдиреА рд╣реЛ рд╕рдХрддреА рд╣реИред

рдХреИрд╕реЗ рджрд┐рдЦреЗрдВрдЧреЗ рдирдП рдиреЛрдЯ

500 рд░реБрдкрдП рдХрд╛ рдирдпрд╛ рдиреЛрдЯ500 рд░реБрдкрдП рдХреЗ рдкреБрд░рд╛рдиреЗ рдиреЛрдЯ рдХреЗ рдмрджрд▓реЗ рд╕рд░рдХрд╛рд░ рдЧреНрд░реАрди рдХрд▓рд░ рдХрд╛ 500 рд░реБрдкрдП рдХрд╛ рдиреЛрдЯ рдЬрд╛рд░реА рдХрд░реЗрдЧреАред500 рд░реБрдкрдП рдХреЗ рдирдП рдиреЛрдЯ рдорд╣рд╛рддреНрдорд╛ рдЧрд╛рдВрдзреА рдиреНрдпреВ рд╕реАрд░реАрдЬ рдСрдл рдиреЛрдЯреНрд╕ рдХрд╣рд▓рд╛рдПрдВрдЧреЗред рд╕рд╛рдЗрдЬ рдореЗрдВ рдкрд╣рд▓реЗ рд╕реЗ рдЫреЛрдЯрд╛ рд╣реЛрдЧрд╛ред рдкреАрдЫреЗ рдХреА рддрд░рдл рд▓рд╛рд▓ рдХрд┐рд▓реЗ рдХреА рддрд╕реНрд╡реАрд░ рд╣реЛрдЧреАред

2000 рд░реБрдкрдП рдХрд╛ рдирдпрд╛ рдиреЛрдЯ

2000 рд░реБрдкрдП рдХрд╛ рдирдпрд╛ рдиреЛрдЯ рдкрд┐рдВрдХ рдпрд╛рдиреА рдЧреБрд▓рд╛рдмреА рдХрд▓рд░ рдХрд╛ рд╣реЛрдЧрд╛редрдкреАрдЫреЗ рдХреА рддрд░рдл рдордВрдЧрд▓рдпрд╛рди рдХреА рддрд╕реНрд╡реАрд░ рд╣реЛрдЧреАред рдпрд╣ рджреЗрд╢ рдХреЗ рд╕рд╛рдЗрдВрдЯрд┐рдлрд┐рдХ рдЕрдЪреАрд╡рдореЗрдВрдЯ рдХреЛ рдмрдпрд╛рдВ рдХрд░реЗрдЧреАредрдЗрд╕рдХрд╛ рд╕рд╛рдЗрдЬ рднреА рдЫреЛрдЯрд╛ рд╣реЛрдЧрд╛ред рд╕реНрд╡рдЪреНрдЫ рднрд╛рд░рдд рдЕрднрд┐рдпрд╛рди рдХрд╛ рд╕рдВрджреЗрд╢ рд╣реЛрдЧрд╛ред

рдХреНрдпрд╛ рдХрд╣рд╛ рдЖрд░рдмреАрдЖрдИ рдиреЗ?

рдЖрд░рдмреАрдЖрдИ рдЧрд╡рд░реНрдирд░ рдЙрд░реНрдЬрд┐рдд рдкрдЯреЗрд▓ рдиреЗ рдХрд╣рд╛, тАЬрдЬрд▓реНрджреА рд╣реА рдирдП рдиреЛрдЯ рдорд╛рд░реНрдХреЗрдЯ рдореЗрдВ рд▓рд╛рдиреЗ рдХреЗ рд▓рд┐рдП рдкреНрд░реЛрдбрдХреНрд╢рди рдмреЭрд╛рдПрдВрдЧреЗредтАЭтАЬрдЖрд░рдмреАрдЖрдИ рдФрд░ рдбрд┐рдкрд╛рд░реНрдЯрдореЗрдВрдЯ рдСрдл рдЗрдХреЛрдиреЙрдорд┐рдХ рдЕрдлреЗрдпрд░реНрд╕ рдореЗрдВ рдХрдВрдЯреНрд░реЛрд▓ рд░реВрдо рдмрдирд╛ рд░рд╣реЗ рд╣реИрдВредтАЭрдлрд╛рдЗрдиреЗрдВрд╕ рд╕реЗрдХреНрд░реЗрдЯрд░реА рд╢рд╢рд┐рдХрд╛рдВрдд рджрд╛рд╕ рдиреЗ рдмрддрд╛рдпрд╛- рд╕рд░рдХрд╛рд░ рдПрдХ рдмреЬрд╛ рдлреИрд╕рд▓рд╛ рд╣реИред рдирдП рдиреЛрдЯ 10 рдирд╡рдВрдмрд░ рдХреЗ рдмрд╛рдж рдорд┐рд▓рдиреЗ рд╢реБрд░реВ рд╣реЛ рдЬрд╛рдПрдВрдЧреЗредтАЭ

рд╕рд░рдХрд╛рд░ рдиреЗ 500 рдФрд░ 1000 рд░реБрдкрдП рдХреЗ рдиреЛрдЯ рдмрдВрдж рдХреНрдпреЛрдВ рдХрд┐рдП?

рд╕рд░рдХрд╛рд░ рдХрд░рдкреНрд╢рди рдФрд░ рдмреНрд▓реИрдХрдордиреА рдкрд░ рдЕрдВрдХреБрд╢ рд▓рдЧрд╛рдирд╛ рдЪрд╛рд╣рддреА рд╣реИред рдХреНрдпреЛрдВрдХрд┐ рдЗрд╕рдХрд╛ рдЗрд╕реНрддреЗрдорд╛рд▓ рдЖрддрдВрдХрд╡рд╛рдж рдХреЗ рд▓рд┐рдП рдХрд┐рдпрд╛ рдЬрд╛ рд░рд╣рд╛ рдерд╛редрдЬрд╛рд▓реА рдиреЛрдЯ рдХреА рдЦрдкрдд рдХреЛ рд░реЛрдХрд╛ рдЬрд╛ рд╕рдХреЗрдЧрд╛ред

рдХрд╣рд╛рдВ рдмрджрд▓ рд╕рдХрддреЗ рд╣реИрдВ рдиреЛрдЯ?

500 рдФрд░ 1000 рдХреЗ рдиреЛрдЯ рдЖрдк рдмреИрдВрдХ рдФрд░ рдкреЛрд╕реНрдЯ рдСрдлрд┐рд╕ рдореЗрдВ рдмрджрд▓ рд╕рдХрддреЗ рд╣реИрдВред

рдХрдм рддрдХ рдмрджрд▓ рд╕рдХрддреЗ рд╣реИрдВ?

10 рдирдВрд╡рдмрд░ рд╕реЗ 30 рджрд┐рд╕рдВрдмрд░ рддрдХред рд▓реЗрдХрд┐рди рд╕рд╛рде рдореЗрдВ рдкрд╣рдЪрд╛рди рдкрддреНрд░ рд▓рд╛рдирд╛ рд╣реЛрдЧрд╛ред

рдЗрд╕рдХреЗ рдмрд╛рдж рднреА рдХреНрдпрд╛ рдмрджрд▓реЗ рдЬрд╛ рд╕рдХрддреЗ рд╣реИрдВ?

рдШреЛрд╖рдгрд╛ рдкрддреНрд░ рдХреЗ рд╕рд╛рде рдпреЗ рдиреЛрдЯ 31 рдорд╛рд░реНрдЪ 2017 рддрдХ рдЬрдорд╛ рдЖрд░рдмреАрдЖрдИ рдореЗрдВ рдЬрдорд╛ рдХрд░рд╛ рд╕рдХрддреЗ рд╣реИрдВред

рдПрдХ рдмрд╛рд░ рдореЗрдВ 500-1000 рдХреЗ рдХрд┐рддрдиреЗ рдиреЛрдЯ рдЬрдорд╛ рдХрд┐рдП рдЬрд╛ рд╕рдХреЗрдВрдЧреЗ?

10 рд╕реЗ 24 рдирд╡рдВрдмрд░ рддрдХ рдПрдХ рджрд┐рди рдореЗрдВ 4000 рд░реБрдкрдП рдореВрд▓реНрдп рдХреЗ рдиреЛрдЯ рд╣реА рдЬрдорд╛ рдХрд░ рд╕рдХреЗрдВрдЧреЗред

рдмреИрдВрдХ рдХрдм рдмрдВрдж рд░рд╣реЗрдВрдЧреЗ? рдПрдЯреАрдПрдо рдХрдм рдмрдВрдж рд░рд╣реЗрдВрдЧреЗ?

9 рдирд╡рдВрдмрд░ рдХреЛ рдмреИрдВрдХ рддрдерд╛ 9 рдФрд░ 10 рдирд╡рдВрдмрд░ рдХреЛ рдПрдЯреАрдПрдо рдмрдВрдж рд░рд╣реЗрдВрдЧреЗред

рдирд╡рдВрдмрд░ рдХреЗ рдмрд╛рдж рдХреНрдпрд╛ рдПрдЯреАрдПрдо рд╕реЗ рд░рдХрдо рдирд┐рдХрд╛рд▓ рд╕рдХрддреЗ рд╣реИрдБ?

10 рдирд╡рдВрдмрд░ рдХреЗ рдмрд╛рдж рдПрдЯреАрдПрдо рд╕реЗ рдПрдХ рджрд┐рди рдореЗрдВ рд╕рд┐рд░реНрдл 2000 рд░реБрдкрдП рдирд┐рдХрд╛рд▓рдиреЗ рдХреА рд▓рд┐рдорд┐рдЯ рддрдп рдХреА рдЧрдИ рд╣реИред

рдХреНрдпрд╛ рдХрд╛рд░реНрдб рдФрд░ рдЪреЗрдХ рд╕реЗ рд▓реЗрдирджреЗрди рдкрд░ рдХреЛрдИ рдЕрд╕рд░ рд╣реЛрдЧрд╛?

рдирд╣реАрдВред рдХрд╛рд░реНрдб рдФрд░ рдЪреЗрдХ рд╕реЗ рд▓реЗрдирджреЗрди рдкрд╣рд▓реЗ рдХреА рддрд░рд╣ рд╣реЛрддрд╛ рд░рд╣реЗрдЧрд╛ред

рдХреНрдпрд╛ рд╕рд░рдХрд╛рд░ рдиреЗ рдХреЛрдИ рдФрд░ рд░рд┐рдпрд╛рдпрдд рджреА рд╣реИ?

рд╣реЙрд╕реНрдкрд┐рдЯрд▓, рдПрдпрд░рдкреЛрд░реНрдЯ, рдмрд╕ рд╕реНрдЯреЗрд╢рди, рдкреИрдЯреНрд░реЛрд▓ рдкрдВрдк рдкрд░ 11 рдирд╡рдВрдмрд░ рд░рд╛рдд 12 рдмрдЬреЗ рддрдХ 500-1000 рдХреЗ рдиреЛрдЯ рд▓рд┐рдП рдЬрд╛рдПрдВрдЧреЗред

09/11/2016

ЁЯНО *Summary of the important announcement :*

ЁЯСЙ 1. Black money issue, 500 rupees and 1000 rupees banned from Midnight.

ЁЯСЙ 2. ATM's wouldn't wouldn't work on 9th and 10th November. Rather the withdrawal limit is Rs. 2000 only.

ЁЯСЙ 3. All Residents have option till 30th December 2016, to deposit their existing cash balance of 500 and 1000 rupees in their bank accounts.

ЁЯСЙ 4. ATM withdrawal is limited post 11th Nov to 10000 per day, but initial few days it would be 2000 Rs. Only.

ЁЯСЙ 5. Emergency periods like hospitals and chemist, train ticket booking and airline ticket booking, petrol pumps may accept the old notes to 11th November.

ЁЯСЙ 6. No changes in online, card, cheque or any other plastic money transactions.

ЁЯСЙ 7. 9th November, banks wouldn't be available for public banking services.

ЁЯСЙ 8. New notes of 500 rupees and 2000 rupees would bring in circulation, mostly from 31st March 2017.

ЁЯСЙ 9. Old notes can be exchanged with rbi till 31st March 2017 after 30th December.

15/10/2016
14/10/2016

How to Pat tax under GST regime....

1- Calculate tax payable in cash

2- Generate CPIN number in GST PMT-4 on portal by putting all the detail of Tax under CGST, IGST & SGST along with Interest, fees, and Penalty (Sb) etc .
Challan will have 14 digit CPIN number (Common portal identification Number)
Challan will be valid for 15 days) Once
generated challan may not be modified.

3- Make payment with above challan (CPIN) by (RTGS/NEFT etc) sb or as specified by Govt.

4- After payment of Tax, Challan Identification Number тАУ 17 digit ( 14CPIN and 3 digit Bank Code)(Sudhir) will be generated, will be proof of Tax payment.

14/10/2016

ЁЯНО *How Tax will be Paid Under GST* ЁЯНУ

*Step-1*: Calculate tax payable in cash

*Step-2*: Generate CPIN number in FORM GST PMT-4 on common portal by entering the detail of amount of Tax (CGST, IGST & SGST), Interest, fees, and Penalty etc payable.
Generated challan shall have 14 digit CPIN number (Common portal identification Number)
This challan shall be valid for 15 days from the date of generation)
Taxpayer can partially fill in the challan form and temporarily тАЬsaveтАЭ the challan for completion at a later stage. A saved challan can be тАЬeditedтАЭ before finalisation
Challan generated online may not be modified after submission

*Step-3*: Now make payment with reference to above challan (CPIN) by (Net-banking/Card/RTGS/NEFT) or any other mode as specified by Govt.

*Step-4*: After successfully payment of Tax, a CIN (Challan Identification Number тАУ 17 digit тАФ 14CPIN and 3 digit Bank Code) shall be generated, which is actual proof of Tax payment.

07/10/2016

States have started scouting for tax consultants to advise them on technical aspects of the goods and services tax (GST), which is planned to be rolled out from April next year.
With the Centre moving on to the fast track to meet the April 2017 deadline, the Punjab government has initiated the process of appointing consultant to help it successfully implement the new tax regime, which will subsume various state levies like octroi and sales tax.
Other states may also go in for consultants to assist the administration in the preparatory work for GST.
While the Punjab government is looking to appoint a consultant for two years, sources said other states too would be looking at a similar timeline as the hurdles in implementation of GST are expected to come down in 1-2 years.
Among other things, the consultants will be required to suggest organisation structure of the department in the GST regime, strategy for transition period and ways to mitigate risks and checklist of tasks that need to be completed before introduction of GST.
Also, the consultant will be required to frame a communication strategy for administration vis-a-vis stakeholders such as industry and traders.
Also, the consultant will be imparting training on provisions of the GST Act/Rules and processes to officers of the department.
Besides, the entity will calculate the impact of GST implementation on state revenues keeping in view the present rate of tax in the state and the proposed rate of tax under GST.

Touted as the biggest tax reform since Independence, the GST will subsume excise, service tax, cess, VAT and other local levies and create a uniform market for seamless transfer of goods and services.

The GST draft rules on payment, returns and refund have been finalised and the all-powerful GST Council will decide on the tax rate by October 20.

29/09/2016

ЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУб
ЁЯСЙЁЯП┐ *From next month, the Goods and Services Tax Network (GSTN) will start migrating over 80 lakh exixting VAT TIN RC / taxpayers onto its system.*
~~~~~~~~~~~~~~~~~
````Taxation & MSTD Corner```
~~~~~~~~~~~~~~~~~~
ЁЯЦеBeginning next month, the Goods and Services Tax Network (GSTN) will start migrating over *80 lakh taxpayers onto its system.*
ЁЯЦеThis will facilitate the smooth implementation of the GST regime. *тАЬThe first part of our software will be ready by end October.*
ЁЯЦеExisting taxpayers of value added tax, service tax and central excise will be migrated to GSTN,тАЭ said *Navin Kumar, Chairman, GSTN.*
~~~~~~~~~~~~~~~~~
````Taxation & MSTD Corner```
~~~~~~~~~~~~~~~~~~
ЁЯСЙЁЯП┐ *RC to be issued*
ЁЯЦеThe GSTN will begin issuing GST RC numbers (TIN) and generating *passwords* for these taxpayers.
ЁЯЦетАЬThey can log on to our system, familiarise themselves [with it] as well as provide us relevant information,тАЭ he said.
ЁЯЦеThe GSTN, which will provide the IT infrastructure for the new indirect tax levy, has already received a list of all the taxpayers, their Permanent Account Numbers (PAN), names of the business entities, and their constitution or form from the state vat tax authorities.
ЁЯСЙЁЯП┐ *Requirements*
ЁЯЦеOn receiving their ID and passwords, taxpayers will be expected to log on to the GSTN and provide three additional inputs тАФ *place and address of business, name(s) of directors or proprietors, and details of bank accounts* тАФ which will become part of the GST records.
ЁЯЦетАЬThough the taxpayers will have time up to *six months* after the roll out of GST to provide this information, ( as provided in MGL) but we thought we will give them an opportunity to come on the system now itself and familiarise themselves,тАЭ said Kumar, *adding that annually about four lakh new taxpayers are estimated to enrol on the IT network.*
ЁЯЦеHe also expressed confidence that the GSTN will be ready to meet the roll-out target of the indirect tax levy from April 1, 2017.
ЁЯЦе _тАЬWe will have a beta run from the end of February to end March and will go live from April 1тАЭ_
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````Taxation & MSTD Corner```
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ЁЯСЙЁЯП┐ *Union FM meets Infosys CEO..*
ЁЯЦеFinance Minister Arun Jaitley on yesterday held a meeting where *Infosys CEO Vishal Sikka* made a presentation on the GSTN and its roadmap.
ЁЯЦе *Infosys is the technology partner for GSTN and is developing the system.*
ЁЯЦеOn Wednesday, Prime Minister Narendra Modi held a review meeting on the matter with Jaitley and Finance Ministry officials.
ЁЯЦеApart from the Centre, the GSTN is also building the *back-end IT infrastructure and software for 19 States and five Union Territories. Kumar said about 10 States such as Maharashtra, Gujarat and Tamil Nadu are building their own systems.*
ЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУбЁЯЦеЁЯУб

29/09/2016

ЁЯНО *GST Exemption Threshold Limit Fixed* ЁЯНУ

"For GST, the exemption threshold is fixed at *Rs 20 lakh.* So those with a turnover of below Rs 20 lakh annually will be exempted from GST. With the *north-east states*, the exemption threshold is *Rs 10 lakh,"* Finance Minister Arun Jaitley said today.

"Those who have an annual turnover of less than *Rs 1.5 crore* will be assessed by the state authorities," the Finance Minister said. Base Year to determine Threshold will by FY 2016-17

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