1/n
Thread on 16(2)(aa) -MOST DANGEROUS PROPOSED CHANGE

Sec 16(2)(aa) says that ITC will be available only when Supplier has furnished in his GSTR -1

16(2)(aa) is end of all hopes for any simplifications, we ever demanded in GST

On the contrary ,This is injustice to Taxpayers
2/n
I repeat , It is putting Condition which is beyond own control.
&
coz its Impossible that my 100% purchases will be reflected in Same month everytime every month

My que is
"Why I m at loss of ITC in current month if my Supplier did not filed GSTR 1?"

impossible to comply
3/n
16(2)(aa) will prove fatal for many whose ITC not appearing in 2B and they might have to take up High interest Loan

This Section might kill many business or put many in big financial crunch bcz he has to squeeze up his working capital to pay GST for ITC not appearing
4/n
And We have to see Supplier's situation who cud not uploaded his GSTR-1 for thousand of reason which might happen in REAL life

1. he / his consultant might be sick
or It is saturday / sunday or some holidays bcz of which , he could not upload GSTR1
5/n
2. his has been blocked by system to upload GSTR -1 bcz previous 3B pending

3. MIMP - SITE NOT WORKING ON 10TH / 11TH & supplier could not upload his GSTR -1

there could be thousands reasons
6/n
Its impossible that One can filter good suppliers & defaulter Supplier

& once this will be applicable , People will stop business with supplier who just missed only 1 month GSTR -1 cycle mistakenly

@FinMinIndia @cbic_india @GST_Council
please rethink on on 16(2)(aa)
7/n
Whatever Representations have been done , Protest have been done , tweets/Trends have been done by All of us for Betterment of GST , Today it is most required

end of thread

serious appeal to everyone to RT & Like max. for awareness of all
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More from @CA_HarshilSHETH

19 Sep
Dedicate a song to Infy

Here is my dedication

Offo from 2 states

"Offo इसे डांट के भगाऊं
Offo या…या सीने से लगाऊं
Offo इसे डांट के भगाऊं
Offo या…या सीने से लगाऊं
सर पे बिठाऊं, या थप्पड़ लगाऊं offo ओ… "

Sound on
Read 4 tweets
17 Sep
MEGA THREAD ON 30 BURNING GST ISSUES & SUGGESTIONS thereof

This detailed Presentation on 30 burning issues in GST Law, Procedures, Returns are hard work of Last 4 year. All GST law related issues (which we all have faced) have been compiled in this Thread. Also attached Link
You can check whole PDF in this link drive.google.com/file/d/1bM69fs…

or U can check 30 points below in Thread below

Lets get started
PART- 1 -Regarding Seamless ITC

1. REMOVE ITC restrictions of rule 36(4) and proposed Sec. 16(2)(aa)
2. Remove rule for Denial of utilizing ITC u/r 86B
3. Remove Provision ITC reversal due to 180 days Non-payment u/s 16(2)
Read 14 tweets
15 Sep
26AS should be having all info.
@IncomeTaxIndia
@FinMinIndia

Apart from TDS TCS or AIR SFT

1 SB interest
2 FD interest ( evenif TDS not deducted or no 15G/H)
3 MF Sold
4 Shares sold
5 Crypto sold
6 Share Trading or F&O
7 Property sold (Evenif < 50 lac)
8 Gold sold (yes)
9. Dividend ( Evenif TDS not deducted)

(Salary /Rent / Commission/ Fees/ Deposit interest/ Royalty
tough to get info. if TDS not deducted)

But Rest like any of above, Anything where PAN is used and Any heads of income are hit
Then it must be shown in 26AS automatically
These 9 incomes are sure shot incomes which must be shown in ITR & taxed

IT dept can easily get most these info from Bank

The IT return filer will have to show these Income from above transactions once reflected i. 26AS

And
Tax will be huge when All will show such incomes
Read 4 tweets
3 Aug
HANDS ON EXPERIENCE on New portal​

For simpler ITR 1 or 2 having Salary & Interest incomes , ​I tried filing few ITR & here is experience ( torture)

​​If you lucky U get to validate ur json from Software, upload it .. If more lucky then No error will come & U can Submit ITR
But problems are mainly after that

1. If name is not matching with PAN database then ITR will not be submitted. Dont get annoyed . Change name and Upload Json again . We had habit of Writting name SURNAME-NAME-FATHER NAME
Now this habit need to be changed
2. In some cases , OTP was coming late for E-verification..AFTER E-VERIFICATION done, When I go to download.. I cant see AY 21-22 return.. This is worst level of Glitch which can give heart attack...इतनी महेनत से upload हुआ and गायब
Read 7 tweets
3 Aug
Earlier payment of TDS was really insignificant task. Clients used to pay at own before 7th

So I was nvr worried for reminders .. Still I used to send them

But now It has 3 categorizes (and horrible messy task of checking )

so I had sent this- as reminder to clients
JUL month TDS TCS reminder - Pay before 7th Aug

Category 1- TDS (normal) -
on interest, Commission, RENT, Fees, JOB WORK, REPAIRING, ADVERTISEMENT , FREIGHT ( >10 TRUCKS)
Category 2 TDS (on Purchases 194Q)
( Only if U r 10 cr above)
Deduction of 0.1% on if purchases hv Crossed 50 lac
Read 4 tweets
12 Jul
MASTER Thread on current PROBLEMS in GST ( law, procedure & Returns)

GST can be Good & Simple if Following problems r resolved . I am aware that There is no discussion, No representation, No hope abt these Problems getting solved

But Still I am making list

READ ALL 25 points
1. ITC restrictions in 36(4) and 16(2)(aa)
2. ITC Denial of utilizing u/r 86B
3. ITC reversal due to 180 days Non-payment
4. No ITC allowed for CG in Export refund
5. No ITC allowed for CG & Services in Inverted duty refund
6. Whole return filling Mechanism
7. Non Effective GST Annual Return format
8. No CAP on Max. LATE FEES
9. No Amnesty for GSTR 9/9C
10. No relaxation on Sec. 16(4) regarding time limit
Read 7 tweets

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