Magni Profs

29/11/2021

ADMISSION FOR CMA INTERMEDIATE FOUNDATION ---- Institute in Patel Nagar - Near Shadipur metro station

25/07/2021

07/05/2020

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14/03/2020

Key takeaways on today’s GST Council Meeting –
1. *Interest* to be charged on *Net Cash Liability* (retrospective amendment from 01.07.2017)
2. Existing filing of GSTR-3B and GSTR-1 to be continued to *30.09.2020.*
3. *Relaxation for filing of GSTR-9C (Reconciliation Statement)* for the *FY 2018-19* upto aggregate turnover of *Rs. 5 crores.*
4. Due date for filing the *GSTR-9 and GSTR-9C for FY 2018-19* to be extended to *30.06.2020.*
5. *Late fees* to be waived for delayed filing of *GSTR-9 and GSTR-9C *for *FY 2017-18 and 2018-19* for taxpayers with* aggregate turnover less than Rs. 2 crores.*
6. *One time measure* proposed for filing of application for *revocation of cancellation of registration* up to *30.06.2020* (applicable to cancelled registration till 14.03.2020).
7. For FY 2019-20, *requirement of filing of GSTR-1 to be waived off* for the persons who could not opt for *special composition scheme* under notification No. 2/2019-CT (Rate) (in form CMP-02).
8. Approval given for “Know your Supplier” scheme.
9. Dates for implementation of *e-invoicing and QR Code* to be extended to *01.10.2020.*
10. Extension of the time to finalize *e-Wallet scheme* up to *31.03.2021.*
11. Extension of the present exemptions from IGST and Cess on the imports made under the AA/EPCG/EOU schemes up to 31.03.2021.
12. Allow for refund to be sanctioned in both cash and credit in case of excess payment of tax.

10/10/2019

[11:30 AM, 10/10/2019] Ca Chintan Patel: GST: Notifications issued by CBIC dated 9th October 2019.

Please find below the summary:

44/2019-Central Tax
FORM GSTR-3B has been specified as Return with due date for furnishing of return in for the months of October, 2019 to March, 2020 as 20th of the month succeeding such month.

45/2019-Central Tax
The due date for furnishing FORM GSTR-1 for registered persons having aggregate turnover of up to 1.5 crore rupees for the quarters from October, 2019 to March, 2020 has been prescribed:
October 2019 to December 2019 : 31st January, 2020
January 2020 to March 2020 : 30th April, 2020

46/2019-Central Tax
The due date for furnishing of return in FORM GSTR-1 for registered persons having aggregate turnover more than 1.5 crore rupees for the months of October, 2019 to March, 2020 has been prescribed as 11th of the month succeeding such month.

47/2019-Central Tax
Series of Notifications are issued by CBIC dated 9th October 2019. Please find below the summary:

48/2019-Central Tax
Amend notification No. 41/2019 – Central Tax, dated the 31st August, 2019 with regard to filing by registered persons in State of Jammu & Kashmir.

49/2019-Central Tax
Input tax credit to be matched with 2A:
Total unmatched credit shall not exceed 20 per cent. of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers.
[11:44 AM, 10/10/2019] Ca Chintan Patel: *47/2019-Central Tax
The filing of annual return under section 44 (1) of CGST Act for F.Y. 2017-18 and 2018-19 is made optional for small taxpayers whose aggregate turnover is less than Rs 2 crores and who have not filed the said return before the due date

23/08/2019

11/06/2019

June 2019 CMA inter account question paper