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Special procedure to be followed by a RP engaged in manufacturing of Pan Masala Etc.

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  SPECIAL PROCEDURE TO BE FOLLOWED BY MANUFACTURING OF FOLLOWING GOODS (w.e.f. 01.01.2024) (Notification No. 47/2023_CT_25.09.2023): -   SPECIAL PROCEDURE: - ·      Details of Packing Machines: -   Form: - FORM SRM-I   Due Date: - Within 30 days of issuance of this notification. (Date of Notification is 31.07.2023)   In case of New Registration after such notification: - Within fifteen days (15 Days) of grant of such registration.   Headings of Form SRM-I: - 1.        Sr. No. 2.        Make and Model No. of the Machine (including the name of manufacturer) 3.        Date of Purchase of the Machine 4.        Address of place of business where installed 5.        No. of Tracks 6.        Packing Capacity of each track 7.        Total packing capacity of machine 8.        Electricity consumption by the machine per hour 9.        Supporting Documents (Capacity certificate from Chartered Engineer) 10.     Unique ID of the machine (to be auto pop
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TDS Provision under GST updated as on 31st Oct 2023.

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  INTRODUCTION: - Tax Deduction at Source (“TDS”) means that a certain registered person making payment or crediting to the supplier’s account for supply of taxable goods or services or both is required to deduct GST at source if the contract value without taxes exceeds the threshold limit. It is a statutory compliance which needs to be fulfilled by that person, as prescribed in the Act from time to time. It is a time bound process under which a person, called deductor, making payment or giving credit deducts GST at a fixed rate and deposits it with GST department while filing GST return. The deductee can take credit of deduction at source in his Electronic Cash Ledger and the same can be used for payment of tax at the time of filing GST return as per the prescribed procedure.   TDS under GST Law shall be deducted as per the provision of Section 51 of the Central Goods and Services Tax Act, 2017, Section 21 of the Union Territory Goods and Services Tax Act, 2017 and Section 20
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