Professional Updates

Online filing of application (Form GST EWB 05) by the taxpayer for un-blocking of E-Way Bill (EWB) generation facility In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is to be blocked, in case the taxpayer fails to file their returns in Form GSTR-3B or Statement in Form CMP-08, for two or more consecutive tax periods. For unblocking of this facility, taxpayer need to apply to jurisdictional Tax Official in Form GST EWB 05. A facility has now been provided to the taxpayers on the GST Portal, from 28th November, 2020 onwards, to file an application online for unblocking of their EWB generation facility (in Form EWB-05), in case their EWB generation facility has been blocked on the EWB Portal. Note: So far taxpayers were applying to tax officials vide manual application, for unblocking of their EWB generation facility and tax officials were issuing orders online on GST Portal, in Form GST EWB 06. Now this facility is being

CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports. The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019 , had made generation of UDIN from ICAI website https://udin.icai.org/ mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was introduced to curb fake certifications by non-CAs misrepresenting themselves as Chartered Accountants. In line with the ongoing initiatives of the Income Tax Department for integrating with other Government agencies and bodies, Income-tax e-filing portal has completed its integration with the Institute of Chartered Accountants of India (ICAI) portal for validation of Unique Document Identification Number (UDIN) generated from ICAI portal by the Chartered Accountants for documents certified/attested by them. It may be noted that, in consonance with t

E-invoice under GST applicability turnover w.e.f. 01/04/2021 Update  on 08/03/2021 : E-invoice under GST applicability turnover CBIC issued Notification No. 05/2021–Central Tax, dated 08th March, 2021, revising turnover threshold for applicability of E-invoice. As per the notification w.e.f. 01/04/2021 , e-invoicing shall be applicable to the registered person having aggregate turnover exceeding Rs. 50 crores in a financial year. Turnover limit up to 31/03/2021 for e-invoice The CBIC vide Notification No. 88/2020–Central Tax dt 10th November 2020 has amended Notification no 13/2020 dt 21st March 2020,  and revised turnover limit for applicability of e-invoicing. As per the notification e-invoicing shall be applicable in case of registered person having aggregate turnover exceeding Rs 100 crores in a financial year, with effect from 1st January 2021. Earlier turnover limit prescribed vide Notification No. 61/2020–Central Tax dt 30th July 2020 was Rs. 500 crore in a financial year.  E-i