CA Bimal Jain Profile picture
Jun 12 10 tweets 3 min read Twitter logo Read on Twitter
📍💥Important Update: 2 Factor Authentication will be made mandatory from July 15, 2023 for all taxpayers with AATO above 100cr

#GST #GSTeWayBill #gstwithbimaljain #a2ztaxcorpllp #einvoice

Read the Complete Update below 👇🏻
To enhance the security of e-Way Bill/e-Invoice System, NIC is introducing 2-Factor Authentication for logging in to e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login.
There are 3 different ways of receiving the OTP. You may enter any of the OTP and login to system. The various modes of generating OTP are explained below:
1.SMS: OTP will be sent to your registered mobile number as SMS.

2.On ‘Sandes’ app: Sandes is a messaging app provided by government so that you can send and receive messages. You may download and install the Sandes app on your registered mobile number and receive the OTP in it.
3. Using ‘NIC-GST-Shield’ app: ‘NIC-GST-Shield’ is a mobile app provided by e-Way Bill /e-Invoice System, so that OTP can be generated by using the app. This app can be downloaded only from the e-Waybill / e-Invoice portal from the link ‘Main Menu 2-Factor Authentication.
Install NIC-GST-Shield’. Download, install and register this app on your registered mobile number. You should ensure the time displayed in the app should be in sync with e- Waybill /e-Invoice system. On opening the app, OTP is displayed.
You may enter this OTP and continue the authentication. The OTP gets refreshed after every 30 seconds. You will not require internet or any dependency on mobile network for generating the OTP on this app.
Registration for 2-Factor Authentication:

On logging to e-Waybill System go to Main Menu→ 2 Factor Authentication and confirm the registration.
Once confirmed, the system will ask OTP along- with username and password. The OTP authentication is based on individual user accounts. The sub users of GSTIN will have separate authentication depending on their registered mobile number in the e-Way Bill/ e- Invoice System.
Once you have registered for 2 Factor authentication, then the same is applicable for both e-Way bill and e-Invoice system.

To Know more: a2ztaxcorp.com/2-factor-authe…

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More from @BimalGST

Jun 14
💥🚨 Very Important Judgement giving support to genuine buyer to avail Input Tax Credit (ITC) based on his tax invoice issued by supplier.

Read Compete Judgement Below: ⬇️

#GST #GSTwithBimalJain #a2ztaxcorpllp #InputTaxCredit #GSTITC

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May 31
🚨 Rajasthan High Court landmark ruling:

‘Pizza’, ‘Sandwich’ is ‘Cooked Food’, 'not Bakery product'; Looks at subsequent legislation

Read More Below:

#VAT #food #Pizza #a2ztaxcorpllp #GSTwithBimalJain

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Rajasthan HC holds sale of ‘pizza’ and ‘sandwiches’ to be ‘cooked foods’, eligible to exemption from payment of VAT in excess of 5% vide notification dated March 09, 2010;

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Perusing Notification and Entry providing for rate of tax @ 14% on goods notified therein, as well as ubsequent amendments to Rate Schedule, HC at the outset clarifies that the sale of ‘pizza’ and ‘sandwich’ would qualify as sale of ‘cooked food’;

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May 27
💥📍Important #GST updates for this week:

Eligibility of input tax credit (ITC) for works contract services and materials used for the foundation and structural supports of machinery

[Colourband Dyestuff P Ltd ., In re]

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Issuing separate invoices for different tasks, despite being mentioned in a single contract agreement, cannot be considered a 'composite supply'

[PES Engineers Private Limited ., In re]

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More steps needed to weed out fake ITC generators from GST system: CBIC member

Read More at: a2ztaxcorp.com/more-steps-nee…

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May 19
User Development Fee collected by International airport a ‘statutory-levy’, not liable to service tax

SC - Central GST Delhi vs. Delhi International Airport Ltd.

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SC holds that no service tax is applicable on ‘User Development Fee’ (UDF) collected from domestic and international passengers departing from Delhi, Hyderabad and Mumbai international airports; At first blush, clarifies that

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(i)User Development Fee is a statutory levy
(ii)Collection is not premised on rendering of any service
(iii)Amounts collected are deposited in escrow account (which does not make it any less a statutory levy or compulsory exaction), not within the control of the assesses

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Mar 24
The Finance Bill 2023 was passed in the Lok Sabha without a discussion on Friday.

Finance Bill 2023 passed in Lok Sabha — check key amendments and highlights ⬇⬇

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1⃣ Mutual Funds (MFs) having less than 35 percent AUM in domestic equity are to be taxed as short-term capital gains.

2⃣ Enhanced tax benefits to offshore banking units operating in GIFT City. Offshore banking units to get 100 percent deduction on income for 10 years.

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3⃣ Tax on Royalty or technical fee earned by foreign (non-resident) Cos hiked from 10 percent to 20 percent.

4⃣ No Change in tax on non-par savings insurance products (Rs 5 lakh cap remains).

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Mar 23
GST relief for hotels, and restaurants soon? Govt to change GST structure?

Know Here ⬇⬇

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#GST #GSTITC #GSTcredit #Restaurant #Hotel #GSTwithBimalJain #a2ztaxcorpllp
Sources says:

➡️ Hotel and restaurant industry may soon get relief on GST
➡️ Finance Ministry is considering their demand to change current GST structure
➡️ GST on Hotels/Restaurants may be increased to 12% from 5% with ITC benefit

2/5
Source says:

➡️ Alert: At present Hotels/Restaurants attracts 5% GST without input tax credit
➡️ Finance Ministry has sent the proposal to the fitment committee of the GST council

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Read 5 tweets

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