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Annapoorna

Assistant Manager - Content

I preach the words, “Learning never exhausts the mind.” An aspiring CA and a passionate content writer having 4+ years of hands-on experience in deciphering jargon in Indian GST, Income Tax, off late also into the much larger Indian finance ecosystem, I love curating content in various forms to the interest of tax professionals, and enterprises, both big and small. While not writing, you can catch me singing Shāstriya Sangeetha and tuning my violin ;)

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The latest articles by Annapoorna


GST Registration Online: Documents Required, Limit, Fees, Process, Penalty
Updated on Jul 24th, 2024 | 5 min read

Complete Online Document Submission & Application TrackingFiling of Application for GST RegistrationSecure GST Identification NumberDedicated manager to process your GST registration end to endCompletely Online – No need to visit officeCA Assisted GST Filing for all your GST needsWhat is GST RegistrationUnder Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration.For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it is an offence under GST and heavy penalties will apply.GST registration usually takes between 2-6 working days. Team Clear can help you obtain GST registration faster in 3 easy steps.Register NowWho should obtain the GST registration?Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may beCasual taxable person / Non-Resident taxable personAgents of a supplier & Input service distributorThose paying tax under the reverse charge mechanismA person who supplies via an e-commerce aggregatorEvery e-commerce aggregatorPerson supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable personRegister NowAll about the GST registration processGST registration can be obtained on the GST portal. One must apply for GST registration in Form REG-01 on the GST portal following steps outlined in our article “How to apply for GST registration?”.However, the GST registration services at ClearTax helps you to get your business GST registered and obtain your GSTIN.Clear GST experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.Register NowDocuments Required for GST RegistrationPAN of the ApplicantAadhaar cardProof of business registration or Incorporation certificateIdentity and Address proof of Promoters/Director with PhotographsAddress proof of the place of businessBank Account statement/Cancelled chequeDigital SignatureLetter of Authorization/Board Resolution for Authorized SignatoryGST Registration FeesGST Registration is a tedious 11 step process that involves the submission of many business details and scanned documents.


Form GSTR-9 Simplified: List of Changes Made As Per CBIC Notifications
Updated on Jul 24th, 2024 | 11 min read

The Ministry of Finance has finally relaxed the norms for filing annual GST return GSTR-9, and simplified several parts of the form after pressure from industry experts and business enterprises.Latest Updates10th July 2024In the 53rd GST Council meeting, the Council recommended to provide relaxation to taxpayers from filing GSTR-9/9A for FY 2023-24 where their aggregate annual turnover for the said financial year is below Rs.2 crore. This was notified via CGST notification 14/2024 dated 10th July 2024.4th August 2023In the 50th GST Council meeting held on 11th July 2023, the Council recommended that the relaxations provided in FY 2021-22 in respect of various tables of the Form GSTR-9 and 9C be continued for FY 2022-23. These relaxations were notified by the CBIC on 4th August 2023 vide Notification No.38/2023.31st July 2023    The CBIC has provided an exemption from filing the GSTR-9/9A for small taxpayers with an aggregate annual turnover up to Rs.2 crore for FY 2022-23.  Checklist to file an error-free GSTR-9Download this FREE whitepaper to get an in-depth understanding on how to file GSTR-9. Further, this is an ideal GSTR-9 filing guide explaining each task to file an accurate GSTR-9. Download Now Summarised Table of Changes Form GSTR-9(Changes applicable for FY 2017-18, FY 2018-19, FY 2019-20, FY 2020-21, FY 2021-22 and FY 2022-23)Table No.ParticularsChanges MadeTables 4 and 5: Details of Outward Supplies4B to 4EDetails of outward taxable suppliesTables can be filled net of cr./dr .notes and amendments, instead of separately reporting in tables 4I to 4L5A to 5FDetails of outward supplies on which tax is not payableTables can be filled net of cr./dr.


GSTR-1 Filing: Due Date, Format, Late Fees, Eligibility & Rules
Updated on Jul 24th, 2024 | 17 min read

GSTR-1 is a monthly/quarterly return that summarises all sales (outward supplies) of a taxpayer. You must make sure that a valid GSTIN is filled while entering sales invoice details. Latest Updates10th July 2024-A new optional facility in Form GSTR-1A is notified for taxpayers to add/amend details filed in the GSTR-1 (or IFF) for a tax period before filing their GSTR-3B for the same tax period. -CGST Rule 59(4) has been amended to replace the invoice reporting limit of Rs.2.5 lakhs with Rs.1 lakh for inter-state supplies to unregistered persons. Accordingly, the GSTR-1 and GSTR-5 formats are amended to reflect the revised limit, which will apply from 1 August 2024. What is GSTR-1?GSTR-1 is a monthly or quarterly return that should be filed by every registered GST taxpayer, except a few as given in further sections. It contains details of all outward supplies i.e sales. The return has a total of 13 sections, listed down as follows:Tables 1, 2 & 3: GSTIN, legal and trade names, and aggregate turnover in the previous yearTable 4: Taxable outward supplies to registered persons (including UIN-holders) excluding zero-rated supplies and deemed exportsTable 5: Taxable outward inter-state supplies to unregistered persons where the invoice value is more than Rs.2.5 lakhTable 6: Zero-rated supplies as well as deemed exportsTable 7: Taxable supplies to unregistered persons other than the supplies covered in table 5 (net of debit notes and credit notes)Table 8: Outward supplies that are nil rated, exempted and non-GST in natureTable 9: Amendments to outward supplies that are taxable and reported in table 4,5 & 6 of the earlier tax periods’ GSTR-1 return (including debit notes, credit notes, refund vouchers issued during the current period)Table 10: Debit note and credit note issued to unregistered personTable 11: Details of advances received or adjusted in the current tax period or amendments of the information reported in the earlier tax period.Table 12: Outward supplies summary based on HSN codesTable 13: Documents issued during the period.Table 14: For suppliers - Reporting ECO operators' GSTIN-wise sales through e-commerce operators on which e-commerce operators are liable to collect TCS u/s 52 or liable to pay tax u/s 9(5) of the CGST ActTable 14A: For suppliers - Amendments to Table 14Table 15: For e-commerce operators - Reporting both B2B and B2C, suppliers' GSTIN-wise sales through e-commerce operators on which e-commerce operator must deposit TCS u/s 9(5) of the CGST ActTable 15A: For e-commerce operators -Table 15A I - Amendments to Table 15 for sales to GST registered persons (B2B)Table 15A II - Amendments to Table 15 for sales to unregistered persons (B2C)GSTR-1 due dateThe due dates for GSTR-1 are based on your aggregate turnover. Businesses with sales of up to Rs.5 crore have an option to file quarterly returns under the QRMP scheme and are due by the 13th of the month following the relevant quarter.Whereas, those taxpayers who do not opt for the QRMP scheme or have a total turnover above Rs.5 crore must file the return every month on or before the 11th of the next month.For businesses with turnoverMonth/QuarterDue DateMore than Rs.5 crore Jan 202411th Feb 2024 Feb 202411th Mar 2024 Mar 202412th Apr 2024 (earlier 11th Apr 2024)* Apr 202411th May 2024 May 202411th Jun 2024 Jun 202411th Jul 2024 Jul 202411th Aug 2024 Aug 202411th Sept 2024 Sept 202411th Oct 2024 Oct 202411th Nov 2024 Nov 202411th Dec 2024 Dec 202411th Jan 2025 Jan 202511th Feb 2025 Feb 202511th Mar 2025 Mar 202511th Apr 2025Turnover up to Rs.5 crore (QRMP Scheme)Oct-Dec 202313th Jan 2024 Jan-Mar 202413th Apr 2024 Apr-Jun 202413th Jul 2024 Jul-Sept 202413th Oct 2024 Oct-Dec 202413th Jan 2025 Jan-Mar 202513th Apr 2025* Note: As per CGST Notification no.


Biometric Aadhaar Authentication for GST Registration in Andhra Pradesh
Updated on Jul 22nd, 2024 | 4 min read

Central Board of Indirect Taxes and Customs (CBIC) has notified the enforcement of biometric Aadhar authentication for GST registration Andhra Pradesh from 4th December 2023. This significant move came after a similar direction was given for Gujarat and Puducherry. In this article, we will explore what biometric-based Aadhar authentication and document verification means and look at the eligibility and process for AP GST registration.About biometric-based Aadhaar AuthenticationBiometric Aadhaar authentication is a secure procedure where individuals submit their Aadhaar numbers and accompanying demographic or biometric data to UIDAI's Central Identities Data Repository (CIDR) for verification. This method, now integral to GST registration Andhra Pradesh, enhances the overall security of the registration process. Requiring Aadhaar certification and biometric verification at designated GST Suvidha Kendras (GSKs) aims to bolster security measures, minimise fraudulent registrations, and foster a more accountable business environment in the state.As per the CGST notification no. 13/2024 dated 10th July 2024, the biometric-based Aadhaar authentication for GST registration that was earlier notified and implemented on a pilot basis in Gujarat and Puducherry has now been extended to the whole of India by cancelling the earlier notification.Eligibility for AP GST registrationThe criteria for AP GST registration for businesses in Andhra Pradesh are in line with those applicable in other regions.


Guide to file GSTR-9 on GST portal
Updated on Jul 22nd, 2024 | 14 min read

The GST portal provides facility to the registered taxpayers to file GSTR-9. This article details out the steps to file GSTR-9 on GST portal. For a seamless and hassle-free filing experience, use Clear GST Software. Click here to explore more about Clear GSTR-9 solution.Latest Updates10th July 2024GSTR-9 filing for FY 2023-24 is exempt for registered taxpayers wherever their turnover is up to Rs.2 crores vide CGST notification no. 14/2024 dated 10th July 2024.31st March 2023(1) GST amnesty scheme for GSTR-9 delayed filing: The CBIC has notified vide 07/2023 dated 31st March 2023 to waive off late fee in excess of Rs.20,000 (i.e., 10,000 each under CGST and SGST laws) for delayed filing of GSTR-9 for years 2017-18 up to 2021-22.


Tax Collected At Source ( TCS ) Under Goods and Services Tax
Updated on Jul 22nd, 2024 | 8 min read

Every e-commerce operator started collecting TCS barring a few exceptions from 1st October 2018. This article will give you information about what is TCS and how it works under GST.What is TCS under GSTTax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the supplier of goods, or services who makes supplies through the operator’s online platform. TCS will be charged as a percentage on the net taxable supplies.The provision of TCS under GST is dealt under Section 52 of the CGST Act.Who is liable to collect TCS under GSTCertain operators who own, operate and manage e-commerce platforms are liable to collect TCS. TCS applies only if the operators collect the consideration from the customers on behalf of vendors or suppliers. In other words, when the e-commerce operators pay the consideration collected to the vendors they have to deduct an amount as TCS and pay the net amount. Here are few exceptions to the TCS provisions for the services provided by an e-commerce platform: Hotel accommodation/clubs (unregistered suppliers) Transportation of passengers – radio taxi, motor cab or motorcycle Housekeeping services like plumbing, carpentry etc.


Sunset Clause in India: Meaning, Types, Example, Purpose, and Benefits
Updated on Jul 11th, 2024 | 7 min read

Sunset Clause is a global practice in the public policymaking domain with various historical precedents.  Why do policymakers adopt this clause? This article explains the meaning of the sunset clause, its origin, purposes, and other essential details. Stay with us.What is a sunset clause in law? A sunset clause is a provision that can be included in any legislation to delimit the validity, applicability, or enforceability of a law on a time scale. This legislative and policy-making practice got its name because we consider sunset as a universally accepted time-keeping phenomena.The underlying principle behind the sunset clause can be traced back to a Roman law rule that meant What is applicable for a specified period would cease to be applicable automatically beyond that time.Purpose of sunset clauses The sunset clause serves several purposes. The benefits of the sunset clause are: It helps to specify the time-bound nature of laws, statutes, or rules. Without a similar clause in any legislation or policy, it will be difficult to measure or determine how long the law or rule can remain valid or enforceable. A sunset clause establishes and reiterates a basic principle of good jurisprudence regarding the periodic evaluation of legislation.


Rule 88B of the CGST Act: Calculating Interest for Late GST Payments
Updated on Jul 8th, 2024 | 10 min read

Rule 88B of the CGST rules provides the manner in which interest should be calculated on delayed GST payments. The 53rd GST Council meeting held on 22nd June 2024 recommended benchmark changes to Rule 88B and the interest calculation thereof. In this blog, we discuss interest under Rule 88B of GST in light of the recent changes.What is Rule 88B of the CGST Act?As per the CGST Act, if a taxpayer fails to follow the rules notified for implementing GST, interest and penalty are charged on such delays and defaults. While Section 50 of the CGST Act specifies the interest rates, Rule 88B of the CGST rules gives the basis on which interest is chargeable if a taxpayer:Doesn’t file the GST return before the due date (other than the cases where the return is filed after the proceedings have started u/s 73* or 74**)*Section 73 covers short or non-payment of tax or wrongly claimed ITC excluding cases of fraud or misrepresentation.**Section 74 covers short or non-payment of tax or wrongly claimed ITC with the intention of fraud or willful misstatement.Doesn’t pay the GST amount on timeClaims and utilises excess Input Tax CreditWhen is Rule 88B of CGST Rule Applicable?Here are the scenarios where Rule 88B of GST rules prescribes the charging of interest:Scenario 1: Late filing of GST Return (Amendment recommended at the 53rd GST Council meeting)All registered persons must file GST returns every month before the due dates specified as per Section 39 of the CGST Act. Rule 88B of GST states that interest should be charged, in case a return is not filed before the due date, on the entire amount debited from the Electronic Cash Ledger for tax payment (The GST Council has recommended not to charge interest on the amount available and debited in the ledger on the due date). The formula for interest calculation is:Before Amendment: Interest Amount=Debit to Electronic Cash LedgerInterest RateNo.


GST Notifications Summary
Updated on Jul 8th, 2024 | 209 min read

GST notifications are issued by the department from time to time to keep the concerned people updated regarding changes made by the department with regard to various compliance procedures, tax rates, and similar matters.We have for you here, an updated summary of all such notifications issued in a summarised form. If you want to refer to any GST circular or order or removal of difficulties order, visit our page on “GST Circulars and Orders”. Central Tax NotificationsABCDNotification NumberDateSubjectDescription14/2023   13/202324/05/2023Seeks to extend the due date for filing GSTR-7 for April 2023The due date to file GSTR-7 for GST filers from Manipur is extended up to 31st May 2023, effective from 10th May.12/202324/05/2023Seeks to extend the due date for filing GSTR-3B for April 2023The due date to file GSTR-3B for GST filers from Manipur is extended up to 31st May 2023, effective from 20th May.11/202324/05/2023Seeks to extend the due date for filing GSTR-1 for April 2023The due date to file GSTR-1 for GST filers from Manipur is extended up to 31st May 2023, effective  from 11th May.10/202310/05/2023Seeks to implement e-invoicing for more taxpayersThe e-Invoicing system will get extended to those annual aggregate turnover ranging from Rs.5 crore up to Rs.10 crore starting from 1st August 2023.09/202331/03/2023Extension of limitation under Section 168A of CGST ActThe extension of limitation period to issue orders under Section 79 is as follows-For FY 2017-18 - up to 31st December 2023For FY 2018-19 - up to 31st March 2024For FY 2019-20 - up to 30th June 2024 08/202331/03/2023Amnesty to GSTR-10 non-filersRelief has been given to many taxpayers who did not file GSTR-10 yet but will file between 1st April 2023 to 30th June 2023. The late fee over Rs.1,000 per return (Rs.500 each under CGST and SGST) is waived.07/202331/03/2023Rationalisation of late fee for GSTR-9 and Amnesty to GSTR-9 non-filers(1) GST amnesty scheme for GSTR-9 delayed filing- The authority has waived off late fee in excess of Rs.20,000 (Rs.10,000 each under CGST and SGST) for delayed filing of GSTR-9 for years 2017-18 up to 2021-22 if filed between 1st April 2023 to 30th June 2023.(2) Rationalisation of late fee for delaying the filing of GSTR-9 FY 2022-23 onwards - Registered persons with Turnover up to Rs.5 crore is fixed at Rs. 50 per day (Rs.25 each under CGST and SGST) subject to max cap 0.04% of turnover in state/UT (0.02% each under CGST and SGST).Registered persons with turnover more than Rs.5 crore to 20 crore is fixed at Rs 100 per day (Rs.50 each under CGST and SGST) subject to max cap 0.04% of turnover in state/UT (0.02% each under CGST and SGST)06/202331/03/202Amnesty scheme for deemed withdrawal of assessment orders issued under Section 62Best judgement assessment shall be withdrawn where if the non-filer of returns has submitted returns on or before 30th June 2023 with applicable interest and late fee irrespective of appeal against the assessment order issued on or before 28th February 2023.05/202331/03/2023Seeks to amend Notification No. 27/2022 dated 26th December 2022The proviso to CGST Rule 8(4A) will apply to only GST registration applicants in Gujarat.


What is Account Aggregator: How It Works, Example & List of Account Aggregators in India
Updated on Jul 8th, 2024 | 16 min read

In today’s digital age, managing finances efficiently is more crucial than ever. As more and more industries develop their operations around digital integration, financial institutions also need to transform. One of the latest innovations aiding this process is the account aggregator. This technology acts as a bridge between financial institutions and their customers to reduce the burden of completing manual paperwork. If you’re unfamiliar with the term, don’t worry! In this blog, we will cover everything you need to know about account aggregators in India, their functioning, and their benefits.What is an Account Aggregator?In the financial landscape, an individual or a company in India can use diverse financial services. These can include:Bank AccountsInvestment PortfoliosInsurance PoliciesLoansNow suppose, you avail these services from different financial institutions. In such a scenario, wouldn’t it be complicated to manage these accounts? It is almost impossible to get a complete picture of your financial exposure.Here comes the concept of account aggregators (AA).


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