Dear Members,

I am pleased to note that the Committee for Capacity Building of Members in Practice (CCBMP), ICAI is coming up with the next edition of the e-Newsletter ‘Practiquer’ for the benefit of the members of ICAI with the aim of enhancing the knowledge base of the CA Practitioners and enriching them with latest updates on various emerging areas of the profession. Read more...

Dear professional colleauges

I am glad to note that the Committee for Capacity Building of Members in Practice (CCBMP) to bring out the next issue of the e-Newsletter which will be circulated free of cost to the Chartered Accountants. Read more...

Dear Readers,

I am happy to note the initiative of the Committee for Capacity Building of Members in Practice (CCBMP), ICAI to bring out the next issue of the e-Newsletter for the Chartered Accountants for their easy reference on matters of the profession. Read more...

Dear Members,

I am delighted to note that the Committee for Capacity Building of Members in the Practice (CCBMP) of the Institute of Chartered Accountants of India (ICAI) is coming up with the next issue of its quarterly e-Newsletter ‘Practiquer’ for the benefit of the members of ICAI. Read more...

MESSAGES

CA. Naveen N D Gupta President, ICAI

The Institute of Chartered Accountants of India

(Set up by an Act of Parliament)

CA. Prafulla Chhajed Vice President, ICAI

CA. Kemisha Soni Chairperson, CCBMP,

ICAI

CA. Nihar N Jambusaria Vice Chairman, CCBMP,

ICAI

A Quarterly e-Newsletter for the CA Professionals Published By: Committee for Capacity Building of Members in Practice (CCBMP), ICAI

Disclaimer : “Material in this e-publication may not be reproduced, whether in part or in whole, without the consent of the ICAI”

VOL-III, 2018

Committee for Capacity Building of Members in Practice (CCBMP), ICAI

GST(I) Notification No. 13/2018 - Central Tax dated 7th March, 2018

The late fee for delayed filling of return GSTR-5A as per Notification 6/2018 – Central tax was:

Particulars Late fee amountOther than nil Return Rs. 50( Rs. 25 under CGST +

Rs. 25 under SGST)Nil Return Rs. 20( Rs. 10 under CGST +

Rs. 10 under SGST)

But now the late fee for delayed filing of GSTR-5A is Rs. 200 (Rs. 100 under CGST + Rs.100under SGST)

GSTR-5A is a Return to be furnished by Online Information and Database Access or Retrieval (OIDAR) services provider to un-registered person or customers, on the GST Portal for the services provided from a place outside India to a person in India, other than a registered person.

(II) Notification No. 15/2018 – Central Tax dated 7th March, 2018

The Central government appoints 1st April, 2018 as the date on which the E-way bill provisions come into effect, which means if there is inter-state movement of goods of consignment value > Rs. 50,000 on or after 1-08-2018, then it is mandatory for registered person causing the movement of goods to raise on E-Way bill.

In case of intra state movement of goods, respective states have the time to notify the E-way bill provisions before 1-06-2018.

(III) Notification No. 16/2018, 17/2018, 18/2018, 19/2018 - Central Tax dated 28th March, 2018

DUE DATES FOR GSTR3B FOR THE MONTHS FROM APRIL TO JUNE 2018

GSTR-3B is the monthly return to be filled by all

registered persons except Composition dealers furnishing their sales and input tax credit details.

MONTH LAST DATE FOR FILING GSTR3B

GSTR-3B for the month of April 2018 20th May 2018GSTR-3B for the month of May 2018 20th June 2018GSTR-3B for the month of June 2018 20th July 2018GSTR-01 for the quarter April to June, 2018 31st July 2018GSTR-01 for the month of April 2018 31st May 2018GSTR-01 for the month of May 2018 10th June 2018GSTR-01 for the month of June 2018 10th July 2018GSTR -06 for the period July’17 to April’18 31st May 2018

(IV) Notification No. 20/2018 - Central Tax dated 28th March, 2018

Under GST law, specialised agency of the United Nations Organisation or any Multilateral Financial Institution and Organisation notified under the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947), Consulate or Embassy of foreign countries are entitled to claim a refund of taxes paid on the notified supplies of goods or services or both received by them.

They had to file the refund application before the expiry of 6 months from the last day of the quarter in which such supply was received;

Vide the notification, the refund application can be filed before the expiry of 18 months from the last day of the quarter in which such supply was received.

(V) Notification No. 10/2018 - Central Tax (Rate)

In case a registered person has any inward supplies form an unregistered person, and the value of such supplies in a day exceeds Rs. 5000 then the registered person had to pay tax on such supplies on reverse charge basis. But the same has been suspended till 30th June,2018.

VOL-III, 2018

Source: http://www.cbec.gov.in

Committee for Capacity Building of Members in Practice (CCBMP), ICAI

(VI) Order No. 1/2018 – Central Tax

The last date for submitting TRAN-02 has been extended till 30th June,2018. TRAN-02 is a return filed by the registered person to claim Excise duty/ VAT paid on closing stock as on 30th June, 2017 for which he doesn’t have any document which evidences payment of excise duty or VAT the pre-GST regime.

Corporate Law

A. Condonation of Delay Scheme for the purpose of completion of pending annual filing has been extended from original due date of 31st March, 2018 to 30th April, 2018.

B. Filing of Forms AOC – 4 XBRL using IND AS has been extended from original due date of 31st March, 2018 to 30th April, 2018.

Important Due Dates for Filing of Returns and Payment of Taxes Under Various Central Statute During the Month of May, 2018.

Due Dates Due Date Relates to Applicable ActMondayMay 07,2018

Due date for Payment of TDS/TCS in the month of April-2018 Income Tax

Thursday, May 10, 2018

GSTR-1 for the month of March-2018 (registered person with aggregate turnover exceeding Rs.1.50 Cr.) GST

Tuesday, May 15, 2018

TCS Return for the Quarter ended March -2018

Issue of TDS certificate for tax deducted in the month of March-2018a) u/s 194IA (TDS on Immoveable property)b) u/s 194IB (TDS on Certain Rent payment)

Furnishing of Form 24G (TDS) by an office of the Government where TDS for the month of April -2018 has been paid without the production of Challan.

PF for April-2018 ESIC for April-2018

Income Tax

PF/ES

Sunday,May 20, 2018

GSTR-3B for the month of April -2018

GSTR-5 for the month of April-2018 for Non Resident Taxable Person

GSTR-5A for the month of April-2018 by Non Resident Foreign Taxpayers who have come for a short period to make supplies in India

GST

Friday,May 25, 2018 Provident fund, Employees Deposit linked Insurance Scheme (EDLI) Return for the Month of April 2018 PF/ESI

Wednesday, May 30, 2018

Thursday, May 31, 2018

Challan cum Statement with regard to TDS u/s 194IA (TDS on Immoveable property) for April -2018

Challan cum Statement with regard to TDS u/s 194IB (TDS on Certain Rent payment) for April-2018

Submission of a statement in Form No.49C by Non-Resident having liaison office in India.

Issue of TCS certificate for the quarter ended March 2018

TDS Return for the Quarter ended on March 2018Return of Tax deduction from contributions paid by the trustees of an approved superannuation fund

Statement of Financial Transactions (SFT) to be furnished by person specified in rule 114E in Form No. 61A in respect of Financial Year 2017-18

Statement of reportable account to be furnished by reporting financial institution referred in rule 114G in Form No. 61B in respect of Financial Year 2017-18

GSTR-6 for the Month of April 2018 for ISD

GSTR-1for April-2018 for registered person with aggregate turnover exceeding Rs.1.50 Cr.

E-Way Bill is deferred for Intra-state transaction for goods movement of an amount exceeding Rs. 50,000/- till 31st May, 2018

Income Tax

Income Tax

GST

Composition of the Committee for Capacity Build

VOL-III, 2018

Source : www.mca.gov.in, www.incometaxindia.gov.in, www.cbec.gov.in

Committee for Capacity Building of Members in Practice (CCBMP), ICAI

Composition of the Committee for Capacity Building of Meers in Practice (CCBMP), ICAI 2018-19

Live Webcast on Capacity Building Measures of Practitioners with special reference to the Documentation in the Bank Audit at Indore

For the initiatives of the Committee please visit at https://www.icai.org/new_post.html?post_id=933&c_id=41For more information please contact us at sambit.ccbmp@icai.in TeL: 0120-3045994

E-Newsletter Editorial BoardCA. Kemisha Soni CA. Nihar N. Jambusaria Dr. Sambit Kumar MishraChairperson, CCBMP, ICAI Vice Chairman, CCBMP, ICAI Secretary, CCBMP, ICAI

VOL-III, 2018

• CA. Kemisha Soni, Chairperson• CA. Naveen N D Gupta, President (Ex-officio)• CA. Anil Satyanarayan Bhandari• CA. Tarun Jamnadas Ghia• CA. Dhiraj Kumar Khandelwal• CA. Mangesh Pandurang Kinare• CA. Madhukar Narayan Hiregange• CA. Rajesh Sharma• CA. G Sekar• CA. (Dr.)Debashis Mitra

• CA. Nihar Niranjan Jambusaria, Vice-Chairman• CA. Prafulla Premsukh Chhajed, Vice-President

(Ex-officio)• CA. Shyam Lal Agarwal• CA. Manu Agrawal• CA. Mukesh Singh Kushwah• CA. Atul Kumar Gupta• CA. Ranjeet Kumar Agarwal• CA. Sanjay Vasudeva• Shri Chandra Wadhwa• Dr. Ravi Gupta

• CA. Yashwant Jaywant Kasar• CA. Sangeeta Bordia• CA. Suhas Premasukh Bora

• CA. Mukesh Kumar Gupta• CA. Harshal Agrawal• CA. M.Kandasami

Members

Co-opted Members

Secretary, CCBMP, ICAI: Dr. Sambit Kumar Mishra