Category: Miscellaneous

Recommendations made during the 26th meeting of the GST Council held on 10th March 2018

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Recommendations made during the 26th meeting of the GST Council held on 10th March 2018 



I. Return filing System

The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, 2018 till the new return system is finalized. A new model was discussed extensively and Group of Ministers on IT has been tasked to finalize the same.

II. Reverse charge mechanism

The liability to pay tax on reverse charge basis has been deferred till 30.06.2018. In the meantime, a Group of Ministers will look into the modalities of its implementation to ensure that no inconvenience is caused to the trade and industry.

III. TDS/TCS

The provisions for deduction of tax at source (TDS) under section 51 of the CGST Act and collection of tax at source (TCS) under section 52 of the CGST Act shall remain suspended till 30.06.2018. In the meantime, the modalities of linking State and Central Governments accounting system with GSTN will be worked out so that seamless credit is available to the registered traders whose tax is deducted or collected at source.

IV. Grievance Redressal Mechanism

GST implementation Committee (GIC) has been tasked with the work of redressing the grievances caused to the taxpayers arising out of IT glitches.



DSM/RM/SS



Bhagavad Gita: Engage mental, bodily and vocal, everything -in the service of the Supreme Lord , full divine consciousness (The Most Confidential Knowledge, Text 14, Chapter 9)

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Sri-bhagavan uvaca

satatam kirtayanto mam
yatantas ca drdha-vratah
namasyantas ca mam bhaktya
nitya-yukta upasate



 (The Most Confidential Knowledge, Text 14, Chapter 9)



Meaning: Always chanting My glories, endeavoring with great determination, bowing down before Me, these great souls perpetually worship Me with devotion.

Bhagavad Gita: Engage mental, bodily and vocal, everything -in the service of the Supreme Lord , full divine consciousness (The Most Confidential Knowledge, Text 14, Chapter 9)

Bhagavad Gita: Great souls, are under the protection of the divine nature (The Most Confidential Knowledge, Text 13, Chapter 9)

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Sri-bhagavan uvaca

mahatmanas tu mam partha
daivim prakrtim asritah
bhajanty ananya -manaso
jnatva bhutadim avyayam



 (The Most Confidential Knowledge, Text 13, Chapter 9)



Meaning: O son of Prtha, those who are not deluded, the great souls, are under the protection of the divine nature. They are fully engaged in devotional service because they know Me as the Supreme  Personality of Godhead, original and inexhaustible.

Bhagavad Gita: Great souls, are under the protection of the divine nature (The Most Confidential Knowledge, Text 13, Chapter 9)

Bhagavad Gita: Those who are thus bewildered are attracted by demonic and atheistic views (The Most Confidential Knowledge, Text 12, Chapter 9)

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Sri-bhagavan uvaca

moghasa mogha-karmano
mogha-jnana vicetasah
raksasim asurim caiva
prakrtim mohinim sritah



 (The Most Confidential Knowledge, Text 12, Chapter 9)



Meaning: Those who are thus bewildered are attracted by demonic and atheistic views. In that deluded condition, their hopes for liberation, their fruitive activities, and their culture of knowledge are all defeated.

Bhagavad Gita: Those who are thus bewildered are attracted by demonic and atheistic views (The Most Confidential Knowledge, Text 12, Chapter 9)

31 March 2018 is the last day to file Income tax return for FY 2016-17 (Law is changed now)

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ITR Filling due date for Income Tax Returns (ITRs) for AY 2016-17 (FY 2015-16) and AY 2017-18 (FY 2016-17) will be 31st March 2018. This is the last chance as Law is changed now.

Refer relevant provisions of Income tax :

Section – 139, Income-tax Act, 1961 – FA, 2017

As per section 139(4)

[(4) Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.]

Substituted by the Finance Act, 2016, w.e.f. 1-4-2017.

Old provision:

Section 139(4)

“(4) Any person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier :
Provided that where the return relates to a previous year relevant to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, the reference to one year aforesaid shall be construed as a reference to two years from the end of the relevant assessment year.”



Also link Aadhaar number with PAN by 31 March 2018.





Bhagavad Gita: Supreme Controller (The Most Confidential Knowledge, Text 11, Chapter 9)

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Sri-bhagavan uvaca

avajananti mam mudha
manusim tanum asritam
param bhavam ajananto
mama bhuta-mahesvaram



 (The Most Confidential Knowledge, Text 11, Chapter 9)



Meaning: Fools deride Me when I descend in the human form. They do not know My transcendental nature as the Supreme Lord of all that be.

Bhagavad Gita: Supreme Controller (The Most Confidential Knowledge, Text 11, Chapter 9)

Bhagavad Gita: Material nature (one of My energies) is working under My direction (The Most Confidential Knowledge, Text 10, Chapter 9)

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Sri-bhagavan uvaca

mayadhyaksena prakrtih
suyate sa-caracaram
hetunanena kaunteya
jagad viparivartate



 (The Most Confidential Knowledge, Text 10, Chapter 9)



Meaning: This material nature, which is one of My energies, is working under My direction, O son of Kunti, producing all moving and non moving begins. Under its rule this manifestation is created  and annihilated again and again.

Bhagavad Gita: Material nature (one of My energies) is working under My direction (The Most Confidential Knowledge, Text 10, Chapter 9)

Bhagavad Gita: All this work cannot bind Me (The Most Confidential Knowledge, Text 9, Chapter 9)

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Sri-bhagavan uvaca

na ca mam tani karmani
nibadhnanti dhananjaya
udasina-vad asinam
asaktam tesu karmasu



 (The Most Confidential Knowledge, Text 9, Chapter 9)



Meaning: O Dhananjaya, all this work cannot bind Me. I am ever detached from all these material activities, seated  as though neutral.

Bhagavad Gita: All this work cannot bind Me (The Most Confidential Knowledge, Text 9, Chapter 9)

Bhagavad Gita: The whole cosmic order is under Me (The Most Confidential Knowledge, Text 8, Chapter 9)

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Sri-bhagavan uvaca

prakrtim svam avastabhya
visrjami punah punah
bhuta-gramam imam krtsnam
avasam prakrter vasat



 (The Most Confidential Knowledge, Text 8, Chapter 9)



Meaning: The whole cosmic order is under Me. Under My will it is automatically manifested again and again, and under My will it is annihilated at the end.

Bhagavad Gita: The whole cosmic order is under Me (The Most Confidential Knowledge, Text 8, Chapter 9)

Bhagavad Gita: Creation, maintenance and annihilation of this material cosmic manifestation dependent on the supreme will of the Personality of Godhead (The Most Confidential Knowledge, Text 7, Chapter 9)

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Sri-bhagavan uvaca

sarva-bhutani kaunteya
prakrtim yanti mamikam
kalpa-ksaye punas tani
kalpadau visrjamy aham




 (The Most Confidential Knowledge, Text 7, Chapter 9)



Meaning: O son of Kunti, at the end of the millennium all material manifestations enter into  My nature, and at the beginning of another millennium, by My potency, I create them again.

**** The creation, maintenance and annihilation of this material cosmic manifestation are completely  dependent  on the supreme  will of the Personality of Godhead.

Bhagavad Gita: Creation, maintenance and annihilation of this material cosmic manifestation  dependent  on the supreme  will of the Personality of Godhead (The Most Confidential Knowledge, Text 7, Chapter 9)