SO THAT your March GST return will be ready and your Accounting data will be ready for FY 21-22
25 MARCH/APRIL TASK FOR Year end compliances FOR GST &IT
MEGA THREAD
1. Opting or opting out Composition till 31-3 for FY 22-23 ( to whom applicable)
2. Opting or opting out QRMP till 30-4 for FY 22-23 ( to whom applicable)
3. Apply LUT in case of Exporters for FY 22-23
SO THAT your March GST return will be ready and your Accounting data will be ready for FY 21-22
Reminder to PAY YOUR LIC, MEDICLAIM, PPF AND OTHER OBLIGATIONS TO CLAIM DEDUCTIONS as soon as possible BEFORE 31ST MARCH
transactions like sale returns or purchase returns or price revision or volume discount , the required necessary Debit note or Credit notes may be raised in March 2022 . So it will form part of Fin year 21-22 & you book in your accounts in FY 21-22 .
The taxpayers who have income from interest only and it is less than the prescribed limit, then they can file manually or online in Form 15 G/ H.
For Tax deductors , Last date to file 15G/H is 30th april
APPLICABILITY - FY 20-21 TO 10 CRORE ABOVE PARTIES THEN APPLICABLE for FY 21-22
CONDITION - ONLY IF PURCHASES from PARTY CROSS 50 lacs in CURRENT YEAR
and
That Party not charging TCS
APPLICABILITY - FY 20-21 TO 10 CRORE ABOVE PARTIES THEN APPLICABLE
CONDITION - ONLY IF COLLECTION from PARTY CROSS 50lacs in CURRENT YEAR AND
THAT PARTY IS NOT DEDUCTING TDS
Physical stock need to be reconciled with the stock as per books of accounts. This would be handy in both income tax and GST audit. In case of any discrepancies, the possibility of ITC reversal or missed sales details may be checked.
Refund of
ITC refund for Inverted duty structure
ITC in case of Export under LUT
ITC refund in case of Merchant Export 0.01%
IGST in case of SEZ with pay
ITC in case of SEZ under LUT
FOR 20-21 , 31ST MARCH 2022 is last date
ITC shall be availed by the recipient subject to satisfaction of the condition “Supplier has furnished the details of Invoices referred to in Section 16(2)(a) in Form GSTR 1
reverse ITC not reflecting
Do check your GSTR 2A of 21-22, if any ITC which is reflected in GSTR-2A and U hv not claimed credit in any previous months GSTR3B then Its better you avail this ITC in 21-22 only i.e March GSTR 3B
DATA FETCH FOR ALL IMPORTS MADE IN FY 21-22 BY SEARCH BILL OF ENTRY - FOR THOSE WHOM IMPORT NOT APPEARING IN GSTR 2A
Identify any difference in 3B vs 1 ... reconcile in March return only . Also reconcile with Books
there may be sometime CN DN not shown in GSTR -1 or 3B or both
TDS credit acceptance for period till MARCH 2022. THIS IS WE ARE TALKING ABOUT TDS OF "GST"
IF any TDS is being deducted under GST, accept the TDS credit on the GST portal.(Month to month basis). By doing so, the amount will credited in cash ledger
Maintenance of Self invoice or Payment Voucher in case of RCM tax. This seems to be an ignored act where in, it is required to issue self-invoices and payment vouchers.
GST needs to be charged on following incomes but Not charged.
20.1. Sale of fixed asset or sale of car – Forgot to charge GST On these
20.2. Rent On Commercial Property received But GST has NOT been collected & paid
20.3. Freight Charged By Supplier On Goods Sold But forgot to charge GST on that
20.4. Commission Income earned but GST NOT CHARGED
20.5. Purchase return shown as “Sales ” and discharged GST as “Outward tax” wrongly.
rectify such mistakes in March return
if any GST needed to be paid under RCM but not paid
(1) Advocate Fees (2) Security Services (3) Import of services (4) Transportation / Freight ( Whether On Inward Or Outward )
If not paid , pay in March return
22.1 If wrongly taken ITC but not reversed IT i.e CLAIMED wrong ITC u/s17(5) also if Destroyed/lost | Personal Expenses or Exempted Goods Manufactured
then you need to reverse it (R. 42/43)
22.2 Wrongly claimed ITC twice.
Expenses/Purchase bill entered twice So claimed ITC twice
22.3. Wrongly Claimed IGST instead of CGST + SGST
22.4. Wrongly claimed CGST + SGST instead of IGST
22.5 . Sales return shown as Purchase & Claimed ITC on that
rectify in march
With effect from 1st October 2021, the frequency of filing the ITC-04 form has been revised
(1) Those with TO more than Rs.5 cr – Half-yearly
(2) Those with TO up to Rs.5 cr – Yearly
E-invoice is a process through which a normally generated invoice is authenticated by GSTN. Post authentication, each invoice will be issued an IRN
If TO has exceeded 20 Cr in ANY PRECEDING FY i.e. 17-18 TO 21-22, then E-Invoicing would be applicable from 1-4-22
PL FILE if you haven't still filed . LAST DATE ALREADY GONE (28th feb)..
-end of thread
do remind me anything left as far as GST INCOME TAX concerned
More from All
Do Share the above tweet 👆
These are going to be very simple yet effective pure price action based scanners, no fancy indicators nothing - hope you liked it.
https://t.co/JU0MJIbpRV
52 Week High
One of the classic scanners very you will get strong stocks to Bet on.
https://t.co/V69th0jwBr
Hourly Breakout
This scanner will give you short term bet breakouts like hourly or 2Hr breakout
Volume shocker
Volume spurt in a stock with massive X times
https://t.co/VUYbsKGncx
Kristian G. Andersen
Andrew Rambaut
Ian Lipkin
Edward C. Holmes
Robert F. Garry
2. Thanks to @newboxer007 for forwarding the link to the research by an Australian in Taiwan (not on
3. K.Andersen didn't mention "competing interests"
Only Garry listed Zalgen Labs, which we will look at later.
In acknowledgements, Michael Farzan, Wellcome Trust, NIH, ERC & ARC are mentioned.
Author affiliations listed as usual.
Note the 328 Citations!
https://t.co/nmOeohM89Q
4. Kristian Andersen (1)
Andersen worked with USAMRIID & Fort Detrick scientists on research, with Robert Garry, Jens Kuhn & Sina Bavari among
Our Hans Kristian Andersen working with Jens H. Kuhn, Sina Bavari, Robert F. Garry, Stuart T. Nichol,Gustavo Palacios, Sheli R. Radoshitzky from USAMRIID and Fort Detrick to tell more fairy tales? Full emails listed for queries...https://t.co/kLRoQTxiGD pic.twitter.com/uHNuGraPP2
— Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193 (@BillyBostickson) August 26, 2020
5. Kristian Andersen (2)
Works at Scripps Research Institute, which WAS in serious financial trouble, haemorrhaging 20 million $ a year.
But just when the first virus cases were emerging, they received great news.
They issued a press release dated November 27, 2019:
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Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
1 - open trading view in your browser and select stock scanner in left corner down side .
2 - touch the percentage% gain change ( and u can see higest gainer of today)
Making thread \U0001f9f5 on trading view scanner by which you can select intraday and btst stocks .
— Vikrant (@Trading0secrets) October 22, 2021
In just few hours (Without any watchlist)
Some manual efforts u have to put on it.
Soon going to share the process with u whenever it will be ready .
"How's the josh?"guys \U0001f57a\U0001f3b7\U0001f483
3. Then, start with 6% gainer to 20% gainer and look charts of everyone in daily Timeframe . (For fno selection u can choose 1% to 4% )
4. Then manually select the stocks which are going to give all time high BO or 52 high BO or already given.
5. U can also select those stocks which are going to give range breakout or already given range BO
6 . If in 15 min chart📊 any stock sustaing near BO zone or after BO then select it on your watchlist
7 . Now next day if any stock show momentum u can take trade in it with RM
This looks very easy & simple but,
U will amazed to see it's result if you follow proper risk management.
I did 4x my capital by trading in only momentum stocks.
I will keep sharing such learning thread 🧵 for you 🙏💞🙏
Keep learning / keep sharing 🙏
@AdityaTodmal
I believe that @ripple_crippler and @looP_rM311_7211 are the same person. I know, nobody believes that. 2/*
Today I want to prove that Mr Pool smile faces mean XRP and price increase. In Ripple_Crippler, previous to Mr Pool existence, smile faces were frequent. They were very similar to the ones Mr Pool posts. The eyes also were usually a couple of "x", in fact, XRP logo. 3/*
The smile XRP-eyed face also appears related to the Moon. XRP going to the Moon. 4/*
And smile XRP-eyed faces also appear related to Egypt. In particular, to the Eye of Horus. https://t.co/i4rRzuQ0gZ 5/*
Where to begin?
So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.
"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP
OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg
Dalton School...Dalton School...rings a
Oh that's right.
The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.
Donald Barr was also quite a
Donald Barr had a way with words. pic.twitter.com/JdRBwXPhJn
— Rudy Havenstein, listening to Nas all day. (@RudyHavenstein) September 17, 2020
I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."
Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.