Tax Alert TDS of Oct , deposit during Diwali days

Monthly Archives: October 2021

Tax Alert TDS of Oct , deposit during Diwali days

Tax ALERT

Dear all
Next month first week will be largely Holidays, Due to Diwali , Bhai Duj, Vishwakarma Puja, Chat Puja and other festivals across the Country.


And last date of TDS and TCS deposit remains 7th of next month. And the interest and penalty for non payment also remains the same.

So, do plan in advance.


Question is how you will estimate the TDS when staff will be on leave… and bills will not be passed ?


Taking an estimate based on past averages can be a good solution

This can be a method ( as per excel file attached)…that. you might try…


Do remember, the TDS return goes for October-Nov-December together in Jan 2022,

so, if you find a variation, that little bit can be deposited later also
but you are saved on other larger risk of non payment and its complications


Format for calculation

Estimated TDS -format

Format of Letter to be issued to Customers for GST 2A queries

Format of Letter to be issued to Customers for GST 2A queries


 


We all know that GSTR2A reconciliation is very important.

And if the vendor’s Invoice does not reflect properly in Customer’s GSTR2A, then, the customer will not be able to get the GST ITC Credit on the same.

Now, How to protect yourself in this situation ?

How to make the customer aware ? and How to “stop loss” from future claims ?



Recommended Format of the Letter

Format of Letter to be issued to Customers for GST 2A queries


Dear Customer,
As per provision to section 37 (3) of CGST Act, 2017, no rectification of error or omission in respect of details furnished in GSTR-1 shall be allowed after furnishing of the return for the month of September following the end of FY to which such details pertain or furnishing of the Annual Return whichever is earlier.
Given this, any amendment or rectification is required in respect of Outward Supply Invoice issued in FY 2020-21 or Credit Note/ Debit Notes corresponding to Invoices issued in FY 2020-21 amended or rectified before filing of GSTR-1 for the month of September, 2021.
We request you to kindly let us know that any amendment or correction is required by you in relation to on any invoices or credit note/Debit note raised by us. The request for such correction or amendment is taken up till 07th October 2021. Any request received after the 07th October 2021 will not be entertained. We assure you to address your request which are within permitted time under the GST Act.
In case you need any clarification, please feel free to contact us alongwith the copy of invoice.
Please ignore if you do not have any concern about it
Regards
____ ( your company name, address, person name, contact details )

 

 

GST Rate Change for Corrugated Box, Mono Cartons, Calendars,

GST Rate Change for Corrugated Box, Mono Cartons, Calendars, Commercial Printed material


Notification No 8/2021 – Central Tax (Rate) Released to Public on 30-9-2021

Effective from 1-October-2021

GST on most of the Packaging Products Changed to 18%

Finsys ERP is one of the best selling ERP Softwares for Corrugated Box(Packaging)
Finsys ERP is one of the best selling ERP Softwares for Corrugated Box(Packaging)

GST Rate change is applicable from today – 1-Oct-2021

Carton Manufacturers

duplex box folded cartons ERP software
duplex box folded cartons ERP software

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

Notification No. 8/2021-Central Tax (Rate)

New Delhi, the 30th September, 2021


G.S.R. ……(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E)., dated the 28th June, 2017, namely:-

In the said notification, –

(c)        in Schedule III – 9%, –
            (iii)      for S. No. 153A and the entries relating thereto, the following S. No. and the entries shall be substituted, namely: –
“153A.
4819
Cartons, boxes, cases, bags and other packing containers, of paper, paperboard, cellulose wadding or webs of cellulose fibres; box files, letter trays, and similar articles, of paper or paperboard of a kind used in offices, shops or the like.”;

 


and also change to 18% for the following items connected with the Printing and Packaging Industry
157D.
4909
Printed or illustrated postcards; printed cards bearing personal greetings, messages or announcements, whether or not illustrated, with or without envelopes or trimmings.
157E.
4910
Calendars of any kind, printed, including calendar blocks.
157F.
4911
Other printed matter, including printed pictures and photographs; such as Trade advertising material, Commercial catalogues and the like, printed Posters, Commercial catalogues, Printed inlay cards, Pictures, designs and photographs, Plan and drawings for architectural engineering, industrial, commercial, topographical or similar purposes reproduced with the aid of computer or any other devices.”;

 

 


Action required

Change the GST Rate on your Sale Invoices in your ERP Software



and also change in case of Debit Notes or Credit Notes you make for past Price Increases or Decreases

Purchase Side

for all manufacturers…if you buy any of the above mentioned items, you also have to be aware of this, and Purchase Orders, MRR, and Purchase Voucher passing will change accordingly

 


Click the button below to download the original notification by the Government.

GST notfctn-08-2021-cgst-rate — Cartons , boxes


 

Once again, Remember to Change the GST Rate on both sides,

if you sell Corrugated boxes and cartons, or you purchase the Corrugated Boxes and Cartons



“Do it yourself” 1 step manual in the youtube above

 

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