D-VAT - ONLINE REGISTRATION - FORMS TO BE FILED ONLINE

DVAT - E Filing of Forms for registration with Trade and Taxes Dept. Delhi

In pursuance of the earlier notification dated 18.06.2013 regarding mandatory registration with DVAT Department and as informed in our previous communication titled “DVAT UPDATE : SECURITY ON REGISTRATION DONE AWAY WITH” WEF 01.07.2013 E filing of DVAT 04 shall become mandatory.

Now in partial modification to that notification, another Notification No. F.7(453)/Policy/VAT/2012/339-349 has been issued which makes it mandatory to E-file the following forms along with DVAT 04 where ever applicable at the time of registration.

Form A	Application for Registration u/s 7(1) / 7 (2) OF THE CENTRAL SALES TAX ACT,1956
WC 01	Application Form for opting Composition by an eligible works contractor in respect of scheme as notified by Government under sub-section (12) of section 16.
DVAT 01	Application For Opting For Composition Scheme (General)
DM 01	Application Form for opting Composition by an eligible drugs and medicine dealer in respect of scheme as notified by Government under sub-section (12) of section 16
BU 01	Application Form for opting for Composition Scheme as notified exclusively for bullion traders by Government under sub-section (12) of section 16

COPY OF NOTIFICATION

CBDT Instruction No 5/2014 dated 10.07.2014

Dear Members, The Hon'ble CBDT has issued Instruction No 5/2014 dated 10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised. The New limits are: Tax effect Appeal before ITAT Rs. 4,00,000/- High Court Rs. 10,00,000/- Supreme Court Rs. 25,00,000/- Copy of Instruction is attached for your information.

No GST on Ocean freight. Hon'ble SC.

Supreme Court has pronounced its judgment in the matter of Mohit Minerals (Ocean Freight matter). While upholding the judgment of Gujarat High Court, the Supreme Court has held that recommendations of GST Council are only recommendatory and not binding on Union and State. To summarise the Hon'ble Apex Court has ruled that GST is not leviable on ocean freight. CA Yashu Goel

GST - Electronic invoicing (E Invoicing) made mandatory

E-invoice has been made mandatory for taxpayers having turnover exceeding 10 crores from 1st October, 2022: Notification 17/2022 Central Tax dtd 01/08/2022 It implies that any registered person whose aggregate turnover in any preceding financial year from FY 2017-18 onwards has exceeded Rs 10 Crore shall issue E-invoice w.e.f 1st October 2022 . -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

N K GOEL AND BROS.

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