Saturday, 18 February 2017

Some recent updates that you would not like to miss – (18th Feb 2017)

1.    Income Tax Department is developing an app that will soon allow assessees to pay taxes or apply for PAN using their mobile phones. The department is also working on a project to issue PAN to assessees within minutes by way of e-KYC authentication using Aadhaar.

2.    Under GST separate invoice to be issued for reverse charge & forward charge goods & services. Both can’t be clubbed together in single invoice.

3.    Due Date for Payment of ESI of Jan (applicable for salary up to Rs. 21,000 instead of 15,000 earlier): 21.02.2017 and E-Payment of DVAT & CST Tax for Jan: 21.02.2017.

4.    Every person who has a bank account but has not furnished his PAN number to the bank at the time of opening of bank account or subsequently, is required to furnish PAN before 28.02.2017.

5.    If a challan has been generated online it cannot be modified. after logging into GSTN portal for generation of challan, payment particulars have to be fed in by the tax payer or his authorized person. He can save the challan midway for future updation. However, onced the challan is finalized and CPIN generated, no further changes can be made to it by the taxpayer.

Have a great day ahead!

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