FINANZAMANAGEMENT 592282e3a958ff0a889431c4 False 104 1
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PAN UPDATE Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees Posted On: 14 APR 2018 10:44AM by PIB Delhi In case of a company, an application for incorporation, allotment of Permanent Account Number (PAN) and allotment of Tax Deduction and Collection Account Number (TAN) may be made through a Common Application Form submitted to the Ministry of Corporate Affairs (MCA). In these cases, the Certificate of Incorporation (COI) issued by MCA contains a mention of both PAN and TAN. Finance Act, 2018 amended section 139A of the Income-tax Act, 1961 removed the requirement of issuing PAN in the form of a laminated card. Hence, it is clarified that PAN and TAN mentioned in the COI issued by MCA shall also be treated as sufficient proof of PAN and TAN for the said company assessees.
GST UPDATE Validity of E-way bill The E-way bill once generated from the GSTN portal for the movement of goods has a time limit for which it will be valid. The validity of an E-way is discussed as follows: If the distance is less than 100km- 1 Day If the distance is 100 km or more but less than 300km- 3 Days If the distance is 300 km or more but less than 500km- 5 Days If the distance is 500 km or more but less than 1000km- 10 Days If the distance is 1000 km or more- 15 Days
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GST UPDATE A Reset Button has been enabled for Form GSTR 3B, which were in submit status as on 20th February 2018. Taxpayers can now click on the reset button, which opens up Form GSTR-3B in edit mode. After filling the details, taxpayers can offset their tax liability and file Form GSTR-3B
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*Submit fresh LUT for exports w.e.f. 01.04.2018* As per the Circular No. 8/8/2017-GST dated 04.10.2017, the LUT shall be valid for the whole Financial Year in which it is tendered. Thus, the LUT obtained during FY 2017-18 shall be valid till 31st March, 2018. Exporters who intend to export under LUT are advised to submit fresh LUT for exports w.e.f. 01.04.2018. For more information Finanza Management Services LLp
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*E-way bill system to be implemented from 1st April, 2018*. Concerned stakeholders to register themselves on #Ewaybill portal