AMA TAX UPDATES HOME

20
Sep, 2023
GST UPDATES

#GST Advisory: #Geocoding Functionality for the Additional Place of Business

  1. The geocoding functionality for the “Additional Place of Business” address is now active across all States and Union Territories. This builds upon the geocoding functionality earlier implemented for the principal place of business, operational since February 2023.
  2. To date, over 2.05 crore addresses have been geocoded for both principal and additional places of business by GSTN. Moreover, since March 2022, all new addresses are geocoded at the point of registration, ensuring consistent accuracy and standardisation from the beginning.
  3. Here is a brief guide on how to utilize this feature:

Access: Login using your GST Credentials –Navigate to Services>>Registration>>Geocoding Business Addresses tab on the FO portal to find this functionality.

Usage: The system will display a system-generated geocoded address. You have the option to accept this or modify it as needed. If a system-generated address is not available, you can input the geocoded address directly.

Viewing: Saved geocoded address details can be found under the “Geocoded Places of Business” tab. After logging in, go to My Profile >> Geocoded Places of Business.

One-time Submission: This is a one-time activity, and post-submission, address revisions are not permitted. Taxpayers who have already geocoded their addresses through new registration or core amendment would not be required to do this as on the GST portal their address will be shown as geocoded. Remember, changes to the address on your registration certificate can only be made through the core amendment process. This geocoding feature will not affect previously saved addresses.

Eligibility: This feature is accessible to normal, composition, SEZ units, SEZ developers, ISD and casual taxpayers whether they are active, canceled, or suspended.

 

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15
Sep, 2023

#INCOMETAX Digital Signature Certificate (DSC) related issues and solutions.

Taxpayers are advised to check DSC for its expiry date, registration on e-filing portal & installation of latest emBridge application to avoid last minute issues in e-verification.

 In case, you are facing any problem in e-verification through DSC, please refer to the following FAQs.

Q1: During e-verification using DSC, I am getting “Something went wrong” error message, what should I do?

Ans: If you are facing issue (Something Went Wrong) in DSC, please follow below mentioned steps.

1. First uninstall the existing emBridge application and then download the latest application (Version 5.9.0.6 released on 20th Mar 2023)

2. To download: Visit to https://embridge.emudhra.com/

3. Install the new version.

4. Follow the guideline provided in the emBridge installer for the basic troubleshooting.

5. Please Delete existing certificate and import it again in Epasstoken Tool and re-try.

Q2: My DSC registered with e-filing portal has expired, what should I do?

Ans: Taxpayer needs to register a new valid DSC with e-filing portal. Please follow below mentioned steps:

1. Procure a new digital signature certificate from DSC provider.

2. Login to e-filing portal and navigate to “Register DSC” functionality.

3. Register the new DSC on e-filing portal.

Q3:  My DSC registered with e-filing portal has expired. I am trying to register a new DSC, but getting error message “Customer already exists”, what should be done?

Ans: To register a new DSC, kindly de-register the old DSC registered on e-filing portal against your PAN. Please follow below mentioned steps:

1. Procure a new digital signature certificate from DSC provider.

2. Raise a grievance on e-filing portal to de-register the old DSC. Also, attach screen shot of error message to grievance raised.

3. Mention the reason for registering the new DSC.

4. Once your old DSC is de-registered, you will get an email communication, post that you can register a new DSC by following the DSC registration steps:

Q4: The key person associated with the corporate has left and the new key person has registered DSC against his PAN but during e-verification using DSC, still the PAN of earlier key person is reflected, kindly guide?

Ans: In case the key person associated has changed, you need to update the details of new key person in profile and appoint as Principal Contact. Please follow below mentioned steps:

1. Login to e-filing portal using corporate PAN.

2. Navigate to My Profile-> Key Person details-> Add the details on the new key person-> Appoint as Principal Contact

3. Ask the Principal Contact to login to e-filing portal with its and navigate to My Profile->Register DSC.

4. Follow the DSC registration steps.

5. Once DSC is registered successfully, same can be used for verification of ITRs/Forms/other requests for corporate PAN.

Q5: While verifying using DSC, I am getting “Certificate mismatch” error?

Ans: In case of non-individual (Companies, Firms, Trusts, LLPs etc.) PANs: Kindly make sure that DSC used for verification should be linked with PAN of the Principal Contact and DSC should be registered on e-filing portal from Login of Principal

 

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14
Sep, 2023

Got your Income tax Refund, if not follow these procedures issued by Income tax department

Check Bank A/c validation Status For Refund.

Has your bank merged with another bank?

Has your bank branch changed?

Has your bank account number changed?

Has Your name in Bank Account changed?

Has your bank account closed or become inactive?

Has IFSC Code of your bank account changed?

IF YES….

You need to Update/ Revalidate your Bank A/c details on e-filing portal.

To update/revalidate your bank account details, login to: https://eportal.incometax.gov.in > Profile > My bank Accounts > Click on three vertical dots > Choose Revalidate>make required changes in data for updating details > Click on Validate button.

For adding a new bank account, login to https://eportal.incometax.gov.in > Profile > My bank Accounts > Add bank account > fill the required details > Click on Validate button.

After some time, you can check the status of bank account Validation.

Once the Status of Bank account changes to Validated, don’t forget to nominate it for refund by enabling the ‘Nominate for Refund’ button.

If the bank account validation has failed, you can remove that bank account by clicking on the three vertical dots on “My bank accounts” screen.

Please ensure that only those bank accounts, which are linked with PAN should be validated and nominated for refund. Refund cannot be credited to Bank A/c not linked with PAN.

For more info: Watch the video ‘How to pre-validate your bank account’ –https://youtu.be/2ie86mHNeyc

For Any further assistance you may reach Income tax helpdesk contact numbers: 18001030025 180041940025 (Toll free) & +91-80-46122000 +91-80-61464700

 

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12
Sep, 2023
GST UPDATES

#EINVOICE Rules from 01.11.2023 for Reporting of Invoices & 2-Factor Authentication on the IRP Portal

Time limit of 30 days for reporting of invoices from date of invoice is imposed on e-invoice portals and is applicable for taxpayers with AATO greater than or equal to 100 crores from 1st November 2023.

It is to update you that it has been decided by the GST Authority to impose a time limit of 30 days for reporting of invoices from date of invoice, on e-invoice portals. This time limit is applicable for taxpayers with AATO greater than or equal to 100 crores. Hence, the taxpayers in this category will not be allowed to report invoices older than 30 days on the date of reporting.

Please note that this restriction will apply to the all-document types for which IRNs are to be generated. Thus, the Credit / Debit note will also have to be reported within 30 days of issue from date of issue. For example, if an invoice has a date of Nov. 1, 2023, it cannot be reported after Nov. 30, 2023.

This validation will come into effect from 1st Nov, 2023.

 

2-Factor Authentication for all taxpayers with AATO above Rs 20 Cr is mandatory from 1st November 2023.

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6
Sep, 2023
GST UPDATES

Compulsory 6 digit HSN code in the #eInvoices and #eWaybills and other tax payers shall use atleast 4 digit HSN code in E-Invoices and E-Way Bills from 01.10.2023

As per the Notification No. 78/2020 dated 15th Oct 2020, the taxpayers, having Aggregate Annual Turn Over (AATO) above Rs 5 Crore, shall use atleast 6-digit HSN code in the e-Invoices and e-Waybills and other taxpayers shall use atleast 4-digit HSN code in E-Invoices and E-Way Bills.

Most of the taxpayers are already following this, other taxpayers are requested to adapt to the change and comply by the due date. This will be made Mandatory from 1st October 2023 in e-Waybill and e-Invoice Systems.

For official Notification: – 

https://docs.ewaybillgst.gov.in/Documents/notfctn-78.pdf

 

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30
Aug, 2023

When Tds returns quarter 1 (April 2023 to June 2023 can be filed ? When will Updated RPU/FVU versions will be available?

 

As per Circular No. 9/2023 issued by Central Board of Direct Taxes (CBDT) dated June 28, 2023, due date for submission of Form 26Q, 27Q & 27EQ for Q1 of the financial year 2023-24 was extended till 30.09.2023.

Please file the form once the new updated utility is made available for filing.

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29
Aug, 2023

#Incometax E-filing of Form 10B for A.Y. 2023-24 is enabled through offline mode

E-filing of Form 10B  for A.Y. 2023-24 is enabled through offline mode.

Taxpayers can download Offline Utility by going to https://www.incometax.gov.in/iec/foportal/ through “Downloads” Menu option ->Click on Form 10B->Form utility (From A.Y. 23-24 onwards).

Please note Vide notification no.07/2023 dated Feb 21, 2023, the form is re-notified from A.Y. 23-24 onwards. Please use latest utility available for A.Y. 23-24 onwards for current assessment year filing.

WHAT IS FORM 10B???

1. Overview

Form 10B is to be furnished by a charitable or religious  trust or institution that has been registered u/s 12A or who has submitted an application for registration by filing Form 10A. Form 10B is an audit report which is provided by a CA upon nomination by the taxpayer. Form 10B can be accessed and submitted in the online mode only and it is to be filed on or before the specified date referred to in Section 44AB, i.e., a month prior to the due date for furnishing the Return of Income under sub-section (1) of Section 139.

2. Prerequisites for availing this service
 

  • Taxpayer and CA are registered users of the e-Filing portal
  • Status of PAN of taxpayer and CA is Active
  • Taxpayer has added CA for Form 10B through My CA service
  • Valid, registered and active Digital Signature Certificate (DSC) of the CA
  • Taxpayer must have applied for registration or already obtained registration as charitable or religious trust / institution under section 12A by filing Form 10A and accordingly Form 10B is made available under the login of the taxpayer

3. About the Form

3.1 Purpose

Audit Report u/s 12A(1)(b) has to be filed by a charitable or religious trust or institution who has been granted registration under Section 12A or which has submitted an application for registration by filing Form 10A.The Audit Report is required to be filed if the total income of the entity for the relevant previous year has exceeded the maximum amount which is not chargeable to tax, to claim exemption under Sections 11 and 12 of the Act. 

The accounts of such trust or institution must have been audited by an accountant as defined in the Section 288(2) of the Act. The report of such audit at present is required to be furnished before the specified date referred to in Section 44AB, i.e., a month prior to the due date for furnishing the Return of Income under sub-section (1) of Section 139. 

Form 10B is accessed and submitted by a registered CA upon nomination by a taxpayer.

3.2 Who can use it?

CA who has been added by the taxpayer and assigned the said form under the My CA service can access and submit Form 10B.

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