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CA Vikram Shankar Mathur – Live (About)

Vikram Shankar Mathur

Proprietor of M/s Vikram S. Mathur And Co., Chartered Accountants .

We pride ourselves in being called the “new-age accountants” of today, and we are constantly striving to bring the solutions of all your problems to your doorstep, of course, provided we come to hear of your side of the story first!!I am an Indian Chartered Accountant residing in Ahmedabad, Gujarat, India. My Sole Proprietorship Firm is basically into the practice of Accounting, Auditing, Income-Tax Return Filing, Financial Consultancy, Statutory Audit, Tax Audit, Information Systems Audit and other related fields. After Qualifying as a Chartered Accountant on 08/08/1989, I was working in the Industry for six years. In May 1995, I began my practice as an Associate Chartered Accountant and upgraded to Fellow Chartered Accountant in 2002. In March’2006 I also became qualified as Diploma in Information Systems Audit (DISA), a course run by The Institute of Chartered Accountants of India, (ICAI), Delhi. The sole proprietorship firm is registered with the Institute of Chartered Accountants of India.

There is also the parent website you could visit to know more:

About Us

24-Sep-2017 | 14:34 Hours IST

Virtual Visiting Card of CA Vikram Shankar Mathur - Live

Virtual Visiting Card of CA Vikram Shankar Mathur – Live

Watch “Now you can take Transitional Credit in GSTR 3B – Old Credit in GST (In Hindi)” on YouTube

GST Notifications Started

📢 GST Notifications Started 🔉

*No of GST Notification issued today ( 28-06-2017) -34*

  • Central Tax -5
  • Central Tax (Rate)  -10
  • Integrated Tax  -4
  • Integrated Tax (Rate)  -7
  • Union Territory Tax -0
  • Union Territory Tax (Rate)  -7
  •  Compensation Cess (Rate)-1

*Central Tax Notifications*

Seeks to bring into force certain sections of the CGST Act, 2017 w.e.f 01.07.2017
http://cbec.gov.in/resources//htdocs-cbec/gst/notfctn-9-central-tax-english.pdf

Seeks to amend CGST Rules notification no 3/2017-Central Tax dt 19.06.2017
http://cbec.gov.in/resources//htdocs-cbec/gst/notfctn-10-central-tax-english.pdf

Seeks to amend Notification no 6/2017-Central Tax dt 19.06.2017
http://cbec.gov.in/htdocs-cbec/gst/notfctn-11-central-tax-english.pdf

Seeks to notify the number of HSN digits required on tax invoice
http://cbec.gov.in/resources//htdocs-cbec/gst/notfctn-12-central-tax-english.pdf

Seeks to prescribe rate of interest under CGST Act, 2017
http://cbec.gov.in/resources//htdocs-cbec/gst/notfctn-13-central-tax-english.pdf

*Central Tax (Rate) Notifications*

Notification no:1 CGST Rate Schedule notified under section 9 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST-rate-Schedule.pdf

Notification no 2: CGST exempt goods notified under section 11 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST-exemption.pdf

Notification no 3: 2.5% concessional CGST rate for supplies to Exploration and Production notified under section 11 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/25-Schedule-for-conditional-CGST-exemption.pdf

Notification no 4: Reverse charge on certain specified supplies of goods under section 9 (3)
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-reverse-charge-CGST.pdf

Notification no 5: Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed under section 54 (3)
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-restriction-of-ITC-CGST.pdf

Notification no 6: Refund of 50% of CGST on supplies to CSD under section 55
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-under-section-55-for-CSD.pdf

Notification no 7: Exemption from CGST supplies by CSD to Unit Run Canteens and supplies by CSD / Unit Run Canteens to authorised customers notified under section 11 (1) and section 55 CSD
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-refund-to-CSD-CGST.pdf

Notification no 8: CGST exemption from reverse charge upto Rs.5000 per day under section 11 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/Exemption-from-reverse-charge-upto-Rs5000-per-day-CGST.pdf

Notification no 9: Exempting supplies to a TDS deductor by a supplier, who is not registered, under section 11 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/Exemption-from-TDS-CGST.pdf

Notification no 10: CGST exemption for dealers operating under Margin Scheme notified under section 11 (1)
http://cbec.gov.in/resources//htdocs-cbec/gst/Margin-Scheme-Notification-CGST.pdf

*Integrated Tax*

Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax
http://cbec.gov.in/htdocs-cbec/gst/Notification%20for%20IGST%20rate%20Schedule-1.pdf

Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax.
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification%20for%20IGST%20exemption-2.pdf

Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby notifies the rate of the integrated tax
http://cbec.gov.in/resources//htdocs-cbec/gst/Schedule%20for%20conditional%20IGST%20exemption-3.pdf

Reverse charge on certain specified supplies of goods under section 5 (3)
http://cbec.gov.in/resources//htdocs-cbec/gst/Notification%20for%20reverse%20charge%20IGST-4.pdf

Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed
http://cbec.gov.in/resources//htdocscbec/gst/Notification%20for%20restriction%20of%20ITC%20IGST-5.pdf

GST – Important Points

​GST – Important Points

*Certain important points to be noted in respect of GST:

1. # GST will 100% be implemented on 01-07-2017
2. # Types of taxation in GST
3. IGST : Integrated GST
4. CGST : Central GST which with replacement CST
5. SGST : State GST which will replace VAT
6. # WEF from 01.06.2017 : Migration towards enrolment of GST will start till 15.06.2017
7. # Registration certificates will be issued online.
8. # There will be no check post for 1 year. Only mobile check posts will be in full force. All intelligence officers will be dormant for sometime.
9. # 5 forms on different dates have to be submitted every month.
R1 form on 10th

R2 form on 13th

R3 form on 15th

R4 form on 17th &

R5 form or final returns on 20th

You cannot file revised returns at all. Once filed on 20th is final.

10. # Tax payments will be accepted only by e payments. Tax Payments via credit & debit card also added.
11. # In the present Vat system you upload sales & purchases every month. In GST you have to upload every sale & purchase bill.
12. # Be careful , every thing in GST is system driven. Once uploaded you cannot revise anything. No officer can help you in this. They can only pity the mistake.
13. # Your firm rating will be done by the system. Based on the rating audit trials will be conducted.
14. # Proposed e sugam for ₹50000 & above value only.
15. # Proposed rates of GST in percentage are 0, 5, 8 , 12, 18 , 28 & 40.
16. # 1st time in the history of independent India 4 major category of businesses will be covered : Education, Textiles, Medical & Professional services.
17. # You need to submit 17 documents for migration to GST.
18. # Most products MRP to come down.

19. # Distribution + C & F channel under threat.
20. # All these categories which were not taxed will now be taxable : Replacements/ return goods, Barters , Free Samples, disposables, scrap material. For example : if you buy a 40 inch led TV from Girias for ₹30000 & return back your old TV in exchange for ₹4000, you have to pay tax on ₹34000.
21. # All movements of material will be taxable like : Head office to branch office (stock transfer), factory to C & F agent, godown to shop.
22. # The GST officer has all rights to value your goods & fix the price. The law will decide Valuation of the product at Various levels like : Manufacturing, Wholesalers, Distribution & retailers. For example if Kissan is selling Jam for ₹150 & Patanjali is selling the same Jam for ₹120. (Same quantity, flavour, ingredients etc) Then Patanjali has to pay tax on ₹150.
23. # All books & records to be maintained on daily basis.
24. # You will need a full time accountant in your shop/office to maintain books under GST.
25. # All travel & tour expenses related to business have to be claimed under firm name.
26. # If your vendor does not upload his bills within 180 days , you will not get tax credit.
27. # You cannot claim credit for material in stock beyond one year.
28. # They propose that You have to dispose all your old stocks purchased under VAT/CST within September 2017.
29. # All VAT related documents like C forms, F forms etc have to be cleared within Sept 2017.
30. # Your Vat credit will not be carry forwarded to GST.