Mar 132018

The GST Council has made the following announcements as per the recommendations made during the 26th GST council meeting held on 10th March 2018:-


i) The e-way bill system will come into force with effect from 1st April 2018 in respect of INTER-STATE TRANSACTIONS (From one State to another State)


ii) In respect of Intra-state (Within state) transactions, the e way bill will be applicable in a phased manner, the dates of which will be announced soon. However, such date cannot be later than 1st June 2018. That means before 31st of May 2018, it will be made applicable to intra-state supplies in all states.


iii) For the purpose of eway bill generation, value of exempted goods need not be taken into account.


iv) Transporting of goods through public conveyance is also covered now. The responsibility to create the E way bill is on the consignor (or) the consignee.


v) Railways has been exempted from generation and carrying of e-way bill. But the condition for the same is that the recipient will not be able to take delivery of the goods from the railways unless he produces a eway bill for the same. But the railways is required to carry Invoice (or) Delivery Challan etc.,


vi) The time limit for acceptance/rejection of the consignment would be the validity period of the concerned e way bill or 72 hours whichever is earlier.


vii) In case of movement of goods for Job-work, the registered job-worker can create an E way bill now.


viii) Now the consignor can authorise the transporter, courier agency and e-commerce operator to fill/generate Part A of the E way bill on his behalf.


ix) Previously movement of goods from consignor to transporter was allowed upto 10 kms without filling Part B of the e way bill. Now the distance has been increased to 50 Kms. Now the goods can be sent to the transporter without filling Part B , upto 50 kms. In any case, Part A of the E way bill has to be filled and e way bill to be generated.


x) Extra validity period has been provided for Over Dimensional Cargo (ODC)


xi) Due to exceptional circumstances, if the goods are not transported within the stipulated time, the transporter can now extend the validity of the e way bill.


xii) Validity of one day will expire at midnight of the day immediately following the date of generation of e way bill


x) Once a conveyance is verified by any tax officer, the same cannot be verified in any other state or Union Territory , except in special cases.


xi) In case of movement of goods in respect of “Bill to – Ship to ” transactions, despatch details shall be captured in Part A of the E way bill.

Mar 022018

As you are aware, the GST is administered both by the State Governments & Central Governments. As per the decision taken in the GST Council, the Taxpayers will be allocated either to State Government (or) Central Government.

The Tamilnadu Government vide its Order No 1/2018 dtd 28/02/2018 has published the complete details of the allocation of GST taxpayers allocated to Centre and State Government (Tamilnadu)

The notification link is provided below. You can download the respective documents and search for your GSTN to know where your case has been allocated.

Click here for list of Taxpayers allocated to State Government (Tamilnadu) – (This document is 30 MB size maynot display correctly in mobiles, suggest to view in Desktop)

Click here for list of taxpayers allocated to Central Government

Source :-

Jan 042018

As per proviso to Section 16 (2) of the CGST Act, where the recipient fails to pay the supplier of goods or services or both, the amount due towards the value of supply along with tax payable there on, within a period of 180 days from the date of issue of invoice by the supplier,

– an amount equal to the Input Tax Credit (ITC) availed by the recipient shall be added to his output tax liability, along with interest there on.

This aspect shall be taken care while filing GST returns for the month of December as the Invoices issued before 4th July 2017 should have been cleared by now.

Hence before filing your GST returns for the month of December 2017, you have to thoroughly go through your bill wise outstanding details of your supplier’s accounts.

If any invoice as above is still outstanding, while calculating the Eligible Input Tax Credit for the month of Dec 2017 , you have to reverse the Input tax credit in respect of the invoices that are outstanding for 180 days or more.

Apart from the above, Interest @ 18% p.a. has to be paid on such input tax credit reversed from the date of availing the ITC till the date of reversal.

Also note that the ITC is reversible even though the payment is made partly.

Jan 042018

Step by Step guide for filing Form GST TRAN 2 form
Prequisite:TRAN 2 can be filed only if TRAN-1 and GSTR 3B of the relevant tax period is filed.

Step1.Navigate to the TRAN 2 page of the desired tax period after logging in , Select the < Financial Year> and < Month>

Step2.Table 4 of TRAN 2 would be enabled if records were declared in Table-7(a) (7B) of TRAN 1 and Table 5 would be enabled if records were declared in Table-7(d) of TRAN 1.

Step3.Enter details of opening stock in Table 4 and Table 5 as declared in TRAN 1. Please ensure that all the HSN/goods are declared in TRAN 2, in the opening balance in the month of July, 2017, irrespective of the fact that these have been sold or not in the first i.e. July, 2017 tax period.

Step4.Declare the details of sold goods from such stock in the first tax period and the Central/State and integrated tax paid on those goods and compute the ITC allowed and state this value in the applicable tables. ITC allowed should be less than or equal to (=) 60% of Central Tax or 30% of Integrated Tax.

Step5.While filing Tran 2 of subsequent tax periods, the tax payer has to only declare the details of goods supplied/sold and the tax paid and ITC allowed. The opening stock gets auto-populated from the earlier tax period closing stock. And the closing sock is auto computed from the opening stock and the supplied quantity in the tax period.

Step6.Save after entering each record in tables of TRAN 2.

Step7.After entering all the records click “Preview” to download the pdf with draft summary values of TRAN 2. Verify the correctness of the entered data. If satisfied click “Submit” to freeze your declaration. Please verify thoroughly before submitting.

Step8.Download the summary of your submitted TRAN 2 for your record by clicking on “Preview” again.

Step9.Click on file with DSC or EVC and select the authorized signatory to file TRAN 2 for the tax period.

Step10.After successful filing the message and email with the ARN number will be sent to the taxpayer.

Step11.The claimed ITC of central and state tax would be reflected in the ITC ledger of the taxpayer after filing of TRAN 2. It has to be noted that the ledger entries get posted after filing of TRAN 2 and not “Submit” (as is/was the case in TRAN 1).

Source :-


Dec 292017

The Central Government vide its Notification No 74/2017 Central Tax) dtd 29th Dec 2017 has notified the effective date from which the e-way bill will come into force. As per the notification, the e way bill will come into force from 1st Feb 2018

The relevant notification is provided below

Download (PDF, Unknown)

Dec 292017

The Central Government vide its Notification No 73/2017 Central Tax) dtd 29th Dec 2017 has waived the late fees partially, in respect of Filing of GSTR 4 belatedly. The complete details are as under :-

                                                                Late fees

For NIL Returns                                 Rs. 10 Per day (CGST)

For Other returns                            Rs. 25 per day (CGST)

The relevant notification is provided below

Download (PDF, Unknown)

Dec 292017

The due dates for filinng GSTR 1 has been extended as under :-

For Quarterly Returns :- (Notification No 71/2017 Central Tax)

Quarter                                                Extended Time limit

Jul-Sep 2017                                       10th Jan 2018

Oct-Dec 2017                                     15th Feb 2018

Jan- Mar 2018                                    30th April 2018


For Monthly Returns :- (Notification No 72/2017 Central Tax)

Months                                                                Extended Time limit

Jul,Aug,Sep,Oct,Nov 2017            10th Jan 2018

Dec 2017                                              10th Feb 2018

Jan 2018                                               10th Mar 2018

Feb 2018                                              10th Apr 2018

Mar 2018                                             10th May 2018

The relevant notifications are provided below :-

Download (PDF, Unknown)

Download (PDF, Unknown)

Dec 152017

As per the provisions of the GST Act, for claiming the deemed credit of tax in respect of Stocks held by the GST tax payers as on 30th June 2017, filing of Tran – 1 is mandatory.

After filing the Tran  – 1, the tax credit in respect of Stocks for which duty paid invoices were available , was given immediately and the tax credit in respect of goods for which duty paid invoices were not available has to be claimed by filing Form Tran – 2.

The Tran -2 filing has to be done on a monthly basis providing the details of the sale of stocks on a monthly basis for the months from Jul 2017 to Dec 2017.

The said filing of Tran – 2 was not enabled in the GST portal till now. From today, the filing of Tran-2 has been enabled.

In view of the above, the deemed credit in respect of stocks without duty paid invoices can be claimed now by filing Tran – 2 in the GST portal.

For filing the Tran – 2 in GST  portal ,

Login to

Go to Service Tab-> Returns -> Transition Forms -> Select the Tran 2 Tab

Source :-

Nov 302017

The following are the statutory obligations for the month of December 2017

Due Date
GSTR 3B Return filing for the month of November 201720-12-2017
GSTR 1(Jul-Sep) filing for Taxpayers with Less than 1.5 Crores turnover31-12-2017
GSTR 1 (For Jul,Aug & Sep 17) filing for taxpayers with more than 1.5 Crores Turnover31-12-2017
GSTR 4 (Jul-Sep 17) Return for compounding dealers24-12-2017
Tran - 1 form for claiming the Transition Credit27-12-2017
Income-taxDeposit of TDS deducted during the month of November 2017
Click Here for Payment
Income-taxAdvance Tax 3rd InstalmentClick here for payment 15-12-2017
TNVATSubmission of Form WW TNVAT Audit Report for the year 2016-1731-12-2017
ESIESI Payment for the month of November 201715-12-2017
PFPF Payment for the month of November 201715-12-2017

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Nov 272017

The Introduction of GST has reduced the compliance burden of the assessees who had registered with Excise/VAT/Service tax and the record maintenance requirement for these statutes were different. After introduction of GST, the requirement of maintenance of Accounts and records have been notified by the Act making it simpler for the tax payers to comply with the same. In this article we have tried to summarise the various requirements under GST with regard to Accounts and Records.

Who are required to maintain Accounts and records in GST?

As per Section 35 of the CGST Act, every registered person shall keep and maintain Accounts and records.

Where should the Accounts and records be maintained?

A true and correct account shall be maintained at the principal place of business, as mentioned in the certificate of registration.

What if there are more than one place in the Registration Certificate ?

In case, more than one place of business is mentioned in the Certificate of Registration, the accounts of each of the place of businesses shall be maintained at such places of business.

In what form the accounts be maintained?

The tax payer can maintain accounts and records either in Manual form or electronic form. However each volume of books of account maintained manually by the registered person shall be serially numbered

What are the accounts and records to be maintained ?

Every registered person shall maintain the following accounts and records :-

(a) accounts of stock in respect of goods received and supplied; and such account shall contain particulars of the opening balance, receipt, supply, goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples and balance of stock including raw materials, finished goods, scrap and wastage thereof

(b) a separate account of advances received, paid and adjustments made thereto

(c) an account containing the details of tax payable, tax collected and paid, input tax, input tax credit claimed together with a register of tax invoice, credit note, debit note, delivery challan issued or received during any tax period

(d) names and complete addresses of suppliers from whom goods or services chargeable to tax under the Act, have been received

(e) names and complete addresses of the persons to whom supplies have been made

(f) the complete addresses of the premises where the goods are stored including goods stored during transit along with the particulars of the stock stored therein

(g) monthly production accounts showing the quantitative details of raw materials or services used in the manufacture and quantitative details of the goods so manufactured including the waste and by products thereof

(h) accounts showing the quantitative details of goods used in the provision of services, details of input services utilised and the services supplied

(i) separate accounts for works contract showing –

• the names and addresses of the persons on whose behalf the works contract is executed

• description, value and quantity (wherever applicable) of goods or services received for the execution of works contract

• description, value and quantity (wherever applicable) of goods or services utilized in the execution of works contract

• the details of payment received in respect of each works contract and

• the names and addresses of suppliers from whom he has received goods or services


Any entry in registers, accounts and documents shall not be erased, effaced or overwritten and all incorrect entries, other than those of clerical nature, shall be scored out under attestation and thereafter the correct entry shall be recorded


where the registers and other documents are maintained electronically, a log of every entry edited or deleted shall be maintained.


All accounts maintained together with all invoices, bills of supply, credit and debit notes, and delivery challans relating to stocks, deliveries, inward supply and outward supply shall be preserved for seventy two months (six years) from the due date of furnishing of annual return for the year pertaining to such accounts and records and shall be kept at every related place of business mentioned in the certificate of registration.


The following requirements have been prescribed for maintenance of records in electronic form.

• Proper electronic back-up of records

• Produce, on demand, the relevant records or documents, duly authenticated, in hard copy or in any electronically readable format

Click here to send your enquiries (or) use the form below to send your enquiries.


B S Sridhar & Co., Contact us @ 91-44-45540180 / 91-90804 33131. 

For Quick Response email :-

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