KSPN & Associates

Kindly ping !

Dear All

We, at *KSPN & ASSOCIATES* Chartered Accountants, are looking out to hire for the following positions :

- Accountants -4 Nos
B.com or Semi Qualified
drop out with one year
experience. Salary as per
knowledge

- 5 Article Staff as per the provisions of ICAI.

Stipend Rate: Rs 5000/- , 6000/-, 7000/-

Note:
1. People in and around Pitampura and Rohini, and Gurgaon or those who are ready to relocate, would be preferred

If you or anyone in your network is looking for a job and fits the above criteria, then please send across the CV to
[email protected]

Feel free to forward this post to your network or groups.

Watch our new video on GSTR9

GSTR 9 Basic Watch this video to know about the practical approach to GSTR 9.

Summary of GST Notifications and circulars:

Notification 20/2019: Amended rules.
- Qtly tax paid statement (CMP08) and one annual GSTR-4 for composition dealer and service provider opting 02/2019
- Format of CMP08

Notification 21/2019: Provision of CMP 08 and annual GSTR 4 in law (for composition dealers and for those availing notification 02/2019 i.e. service providers upto 50 lakhs)

Notification 22/2019: Amendment to Reg07 (registration form for TCS dealers) to be applicable from 21 june 2019.

Circular 98: Clarification regarding utilization of IGST credit.
-First utilize IGST input completely against igst liability
-balance igst input can be utilized against csgt or sgst liability in any order.

-till new rule is implemented on portal, set off can be made using previous rule.

Regards
CA Rishabh Saboo

GST Update:

Notification 15/2019: Extension of time of ITC-04 to 30.06.2019.

Circular 94: Clarifications regarding refund procedures

Circular 95: If registration is cancelled by officer, then apply for revocation instead of taking new registration as govt has advised officers to consider earlier cancellations before granting new registrations.

Circular 96: Detailed Procedure to transfer ITC in case of death of proprietor. ITC 02 needs to be filed by "transferee" before cancellation of earlier registration.

*ICAI UPDATE*

ICAI-UDIN- NOT APPLICABLE to following assignments:

1. Auditor's Opinion/Reports issued by the Practicing Chartered Accountant under any Statute w.r.t. any entity or any person (e.g.: Tax Audit, Transfer Price Audit, VAT Audit, GST Audit, Company Audit, Trust Audit, Society Audit, etc.,

2. Valuation Reports

3. Quarterly Review Reports,

4. Limited Review Report

5. Information System Audit,

6. Forensic Audit,

7. Revenue / Credit / Stock Audit,

8. Borrower Monitoring Assignments,

9. Concurrent / Internal Audit and the like,

10. Any report of what so ever nature issued including Transfer Price Study Report, Viability Study Report, Diligence Report, Due Diligence Report, Management Report, etc.

*Key Points To Understand Place Of Supply of Goods*
1) *Place of Supply is very important to determine* whether a transaction is a intra-state sale or inter-state sale. And accordingly SGST, CGST & IGST will be determined.
2) Situation for determining Place Of Supply of Good-
A) *Where the supply involves movement of goods*- Place of Supply is the Place where movement of Goods Terminates.
😎 *Where goods are delivered by the Supplier to a recipient or any other person on the direction of a third person* by way of transfer of documents of title of goods - Principal place of business of third person (the place which is mentioned in the registration certificate).
C) *Where the supply involves no movement of goods*- Place of Supply shall be the location of such goods at the time of the delivery to the recipient. *For Example* - This will mainly cover over the counter sale. Like when you go to mall and purchase and take delivery there itself.
D) *Where goods involve Installation / assembly at site*- Place of Supply shall be the Place of such installation or assembly
E) *Where the goods are supplied on board a conveyance*, such as a vessel, an aircraft, a train or a motor vehicle- Place of supply shall be Location at which such goods are taken on board. *For example* Goods sold in Aircraft, Cruise, etc
F) *Where supply involves export & import of goods*.- Goods Imported or exported are always Treated Inter state supply and IGST will be Charged.

S. 2(22)(e): Inter-corporate deposits (“ICDs”) are not “loans and advances” and are not assessable to tax as “deemed dividend”

GST Update: Notification 66/2018: Extension of due date of filing of TDS return for the month of OCT TO DEC till 31.01.2019

GST Update:

Circular 64/2018 dated 14.09.2018 directs GST officers not to initiate penalty proceedings under section 129 (for E way bill) in case of following mistakes in documents:

1.Spelling mistakes in the name of the consignor/Consignee
2.Error in pincode (but address is correct and such pincode is not being used to increase validity of E Way bill)
3.Error in address (but locality is correct)
4.Error in 1 or 2 digits of document number mentioned in E Way bill
5.Error in 4/6 digit HSN (but first 2 digit are correct)
6.Error in 1 or 2 digits of vehicle number.

Penalty to the tune of Rs 1000 will be leviable in this case.

CA Rishabh Saboo
CA Sameer Singla

GST Update:

Notification no 60/2018 dated 30.10.2018:

1. Prescribed rules for examination for GST practitioner (like two times in a year, multiple choice, 200 marks, to be passed within 2 years from enrollment)
2. Change in composition return instructions (GSTR 4) to not to furnish purchases from registered persons (other than reverse charge).

CA Rishabh Saboo
CA Sameer Singla