Jadhav & Associates

Dear Sir,
We are glad to announce
We are started TIN-FC center
We have accept new pan card, change of pan, tan, TDS, TCS return

please call us at any time for above.

Jadhav & Associates
CMA Sandip Jadhav
Cell 99602 64442
WhatsApp 94042 57460
Office 0240-2552442
[email protected]

GST on services:

Restaurants: Non-Ac Rest-12%, AC Rest-18%, & 5 star restaurant- 28%.
Hotel Rooms- upto rs.1000 - NIL, 1000 to 2500_ 12%, 2500 to 5000 - 18% and above 5000 - 28%.
1.Transport services_5%
2.AC Train services_5%
3.Economy class air travel _5%
4. Business class air travel_12%
5. Financial services_18%
6. Telecom services_18%
7. CAs_ 18%
8. Cinima/gambling/betting_ 28%
9. Works contact_ 12%
10. Cab Aggregators such as ola, uber_5%
Exempted Services:
1. Health care
2. Education
3. Non- Ac Train travel

GST online return form details

👉As the GST Bill is about to come into action by the next year, the government of India is taking necessary steps to make sure that the GST regime works fine. The Government will introduce eight forms namely GSTR-1 to GSTR-8 that will be required to file the GST Tax returns in India. These forms will be collectively used to take the assesses details and offer multiple options to file online return.

👉As per department issue some draft form for return purpose. These are as below:

🌴GSTR-1 (Sales Register)
•This is a sales register of goods and services, here we can enter the details data of of sales . If a persons sells his goods and services to a register person within the state in that case he is liable to charge CGST and SGST on the transaction. At the same point of time if the person sells his goods and services to other state he is liable for IGST charge on him.
•Here of each transaction it is important to classify the goods or services with his SAC or HSN code because these codes will identify the nature of the transaction.
•Again for avoidance of the black money or hawala transaction in GST returns, there is a need to identify some important transaction like inter state transaction worth Rs. 250000/- or more.
•See the preview of GSTR-1 Return Filing Form

🌴GSTR- 2 (Purchase Register)
•This is a comprehensive purchase register. Here we can enter the data of both purchase of service and goods.
•In GSTR-2 the data of the goods purchase from register dealer including debit/credit note will automatically populated as the respective dealers upload there sales register on due date. Due to this we can match our purchases against the sales register and the impact of this in current scenario where tax credit mismatch is hard to match and a time taking process, in GST there we will check our data as per seller return so mismatch issue resolve will solve easily
•As well as here we will amend our purchase bill too as we received in earlier periods
•Here a separate details information will be required for input service distributors
•Due date of filling the return is 15th of the next month. But we can upload our data on daily, fortnight, weekly too. Soon the last date of return filing the workload should be lesser than before
•See the preview of GSTR-2 Return Filing Form

🌴GSTR-3 (Monthly Return Form)
•Now the time taking process of return filling is over now. In GST return maximum data of this return is auto populated from purchase and sales registers. Only adjustment entries and challan information will enter after these entries
•Here cash ledger (tax deposit in cash and TDS/ TCS) will made separately for CGST , SGST and IGST
•See the preview of GSTR-3 Return Filing Form

🌴GSTR-4 (Quarterly return for compounding dealers)
•This return is a quarterly return filled by the compounding dealer (as per draft GST law the assesses whose turnover is less than Rs. 50 lacs and there is no interstate transaction ) is liable to file return on and before 18th of the month after the quarter
•In this return, data will be automatically populated after filing of GSTR-1
•See the preview of GSTR-4 Return Filing Form

🌴GSTR-5 (Return file by the Non-Resident)
•This will be a monthly return filed by the non –resident within 18th day after end of the month and within the 7 days after expiry of registration
•In this return HSN/SAC code should be mention because these are classify the transaction as a sales and purchase of goods and services
•See the preview of GSTR-5 Return Filing Form

🌴GSTR-6 (Return for Input Service Distributor)
•This return will be filed by the Input Service Distributors within 15 days after end of the month
•In this return form input service distribution ledger will be maintained. In this ledger credit of CGST, SGST, IGST will maintain separately of each tax amount
•See the preview of GSTR-6 Return Filing Form

🌴GSTR-7 (TDS Return)
•Tax deductor will be liable to file this TDS return within the 10 days after end of the month
•This return form is almost similar to TDS return of income tax (26Q/24Q etc) as in this return deductee information and transaction information is mention with the related challan in which the TDS amount is paid to department
•See the preview of GSTR-7 Return Filing Form

🌴GSTR-8 (Annual Return)
•This return form will be filed on or before 31st December of the next financial year
•In this return the total annual returns information will be matched by the department with the monthly /quarterly return filled by the assesse
•In this return auditors information will submitted
•In this return all the transaction will bifurcated within goods and services. This bifurcation should be match with the HSN/SAC code given by the assessee in his monthly/ quarterly return
•See the preview of GSTR-8 Return Filing Form

The 122ND Constitutional Amendment Bill for the introduction of Goods and Services Tax (GST) in the Indian Constitution has been passed by the Rajya Sabha. The Bill has already passed by the Lower House (Lok Sabha) on 6th May 2015. Further, the Empowered Committee of the State Finance Ministers has released Model GST Law in June 2016. In order to have GST as the indirect Taxation Structure in force following steps needs to be followed:

Steps to convert GST a reality

122nd Constitutional Amendment Bill to be ratified by at least 50% of the State Legislatures under Article 368 of the Constitution.

Assent by President of India to the 122nd Constitutional Amendment Bill will require.

After Constitutional amendment GST Council (GSTC) to be constituted within 60 days under Section 279A of the amended Constitution.

GSTC to recommend GST Law and procedure. IGST and CGST bill for Parliament/Centre and Model SGST bill for State Legislature.

CGST and IGST Laws to be introduced in Parliament and will require be passed by simple majority.

SGST Laws to be passed by concerned state legislatures.

Once Approval from Parliament and States, GSTN (GST network a Section 8 Company will launch the IT Platform for implementation of GST).

Goods and Services Tax (GST), explained

The Constitution (122nd) Amendment Bill comes up in RS, on the back of a broad political consensus and boosted by the ‘good wishes’ of the Congress, which holds the crucial cards on its passage. Here’s how GST differs from the current regimes, how it will work, and what will happen if Parliament clears the Bill.

The Goods and Services Tax (GST), the biggest reform in India’s indirect tax structure since the economy began to be opened up 25 years ago, at last looks set to become reality. The Constitution (122nd) Amendment Bill comes up in Rajya Sabha today, on the back of a broad political consensus and boosted by the ‘good wishes’ of the Congress, which holds the crucial cards on its passage. Here’s how GST differs from the current regimes, how it will work, and what will happen if Parliament clears the Bill.


Stage 1

Imagine a manufacturer of, say, shirts. He buys raw material or inputs — cloth, thread, buttons, tailoring equipment — worth Rs 100, a sum that includes a tax of Rs 10. With these raw materials, he manufactures a shirt.
In the process of creating the shirt, the manufacturer adds value to the materials he started out with. Let us take this value added by him to be Rs 30. The gross value of his good would, then, be Rs 100 + 30, or Rs 130.
At a tax rate of 10%, the tax on output (this shirt) will then be Rs 13. But under GST, he can set off this tax (Rs 13) against the tax he has already paid on raw material/inputs (Rs 10). Therefore, the effective GST incidence on the manufacturer is only Rs 3 (13 – 10).

Stage 2

The next stage is that of the good passing from the manufacturer to the wholesaler. The wholesaler purchases it for Rs 130, and adds on value (which is basically his ‘margin’) of, say, Rs 20. The gross value of the good he sells would then be Rs 130 + 20 — or a total of Rs 150.
A 10% tax on this amount will be Rs 15. But again, under GST, he can set off the tax on his output (Rs 15) against the tax on his purchased good from the manufacturer (Rs 13). Thus, the effective GST incidence on the wholesaler is only Rs 2 (15 – 13).

Stage 3

In the final stage, a retailer buys the shirt from the wholesaler. To his purchase price of Rs 150, he adds value, or margin, of, say, Rs 10. The gross value of what he sells, therefore, goes up to Rs 150 + 10, or Rs 160. The tax on this, at 10%, will be Rs 16. But by setting off this tax (Rs 16) against the tax on his purchase from the wholesaler (Rs 15), the retailer brings down the effective GST incidence on himself to Re 1 (16 –15).
Thus, the total GST on the entire value chain from the raw material/input suppliers (who can claim no tax credit since they haven’t purchased anything themselves) through the manufacturer, wholesaler and retailer is, Rs 10 + 3 +2 + 1, or Rs 16.

How it would be in a non-GST regime?

In a full non-GST system, there is a cascading burden of “tax on tax”, as there are no set-offs for taxes paid on inputs or on previous purchases.

Thus, if we consider the same example as above, the manufacturer buys raw materials/inputs at Rs 100 after paying tax of Rs 10. The gross value of the shirt (good) he manufacturers would be Rs 130, on which he pays a tax of Rs 13. But since there is no set-off against the Rs 10 he has already paid as tax on raw materials/inputs, the good is sold to the wholesaler at Rs 143 (130 + 13).

With the wholesaler adding value of Rs 20, the gross value of the good sold by him is, then, Rs 163. On this, the tax of Rs 16.30 (at 10%) takes the sale value of the good to Rs 179.30. The wholesaler, again, cannot set off the tax on the sale of his good against the tax paid on his purchase from the manufacturer.

The retailer, thus, buys the good at Rs 179.30, and sells it at a gross value of Rs 208.23, which includes his value addition of Rs 10 and a tax of Rs 18.93 (at 10% of Rs 179.30). Again, there is no mechanism for setting off the tax on the retailer’s sale against the tax paid on his previous purchase.

The total tax on the chain from the raw material/input suppliers to the final retailer in this full no-GST regime will, thus, work out to Rs 10 + 13 + 16.30 + 18.93 = Rs 58.23. For the final consumer, the price of the good would then be Rs 150 + 58.23 = Rs 208.23.

Compare this Rs 208.23 — with a tax of Rs 58.23 — to the final price of Rs 166, which includes a total tax of Rs 16, under GST.