GST Provisions for Goods sent to Job Worker

The Goods and Services Tax (GST) framework permits a registered principal (manufacturer or supplier) to send inputs and capital goods to a job worker without immediate payment of tax. The concept of “job work” enables outsourcing of processes such as treatment, processing, assembly, or any other activity on goods belonging to the principal. To ensure smooth tax compliance and avoid revenue leakage, GST law prescribes conditions, timelines, documentation, and reporting obligations related to such transactions.

Display of registration certificate and GSTIN on the name board

The display of the Registration Certificate and GSTIN (Goods and Services Tax Identification Number) on the name board of a business is a regulatory requirement under the GST law in India. Here’s a breakdown of the rule and what needs to be done:

Form GST PMT-04

• Form GST PMT-04 is a grievance redressal tool available to taxpayers if there’s a discrepancy in the Electronic Credit Ledger/ Cash Ledger/ Liability ledger. If a registered person finds any mistake in their electronic liability ledger, they must inform the concerned officer by submitting FORM GST PMT-04 through the GST portal. [As per Rules 85(7), 86(6) & 87(12) of the Central Goods & Service Tax Rules, 2017 (CGST)]

GST REG 26

Every person granted provisional GST registration must apply for final GST registration within 90 days (3 months) from the date of provisional registration

GST REG 21

A taxable person may request revocation of the cancellation by submitting Form GST REG-21 if they feel wronged by the termination of their GST registration

GST REG 18

Form GST REG-18 is filed by the taxpayer in response to a notice issued in Form GST REG-17 by the GST officer. The taxpayer can submit a reply to show-cause notice if they believe the cancellation of GST registration is unfair or invalid.

GST REG 14

The registered person shall, within a period of 15 days of change, submit an application in Form GST REG-14 via electronic mode.

Extension of Timelines for filing of Income Tax Returns for AY 2024-25 by Certain Assesses

Income Tax Returns required to be filed by assesses referred to in clause (a) of Explanation 2 to subsection (1) of Section 139 has been extended from 31st October 2024 to 15th November 2024.

Tax Deduction and Collection Account Number (TAN)

Tax Deduction or Collection Account Number or TAN is a 10-digit alphanumeric number required to be obtained by all persons who are eligible for deducting or collecting tax

Permanent Account Number (PAN)

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.