NEWSLETTER 15TH MARCH 2023
MCA
- All Members of ICSI & ICAI (registered in the Professional category at MCA) are requested to add Membership Type ( viz Associate or Fellow) in their profile. This functionality is also applicable to the users who had associated their Professional Membership Numbers with their ID in past on MCA portal.
- All new Directors are advised to register as Business Users and Associate DSC in V3 before filing forms in V3.
- Stakeholders are advised to check their already filed/initiated Spice+ applications of V2 in the Historic tab of V3 Application History.
- UDIN Amnesty Scheme 2023:
- Revoke the UDIN not used
- Modify the UDIN details
- Generate UDIN if missed earlier
- Complete online process-STP mode
- No fees
- Immunity from Disciplinary proceedings under UDIN Guidelines
- One time Limited period opportunity
In-Direct Taxes
Advisory: GSTN launches e-invoice registration services with private IRPs.
In another step towards further digitization of the business process flow, GSTN has launched the e-invoice registration services through multiple private IRPs at the recommendation of the GST Council. Four private companies viz. ClearTax, Cygnet, E&Y and IRIS Business Ltd were empaneled by GSTN for providing these e-invoice registration services to all GST taxpayers of the country. The details of the existing and new IPRs is available at https://einvoice.gst.gov.in/einvoice/dashboard
The taxpayers now have a choice of more than one IRP (earlier being the only single portal of NIC), which they can use to register their e-invoices. This adds significant capacity and redundancy to the single e-invoice registration portal which existed earlier.
The end-to-end flow of a digitally signed e-invoice between sellers and buyers by integration with the GST system will lead to ease of compliance for the taxpayers. It will also lead to facilitation of auto-drafting and auto-populating of invoice details in the GST returns which would lead to increased accuracy, correctness of reporting of supplies and availing of ITC by the recipients of the supply.
Advisory on opting for payment of tax under the forward charge mechanism by a Goods Transport Agency (GTA)
In compliance of Notification No. 03/2022-Central Tax (Rate), dated 13th July, 2022, an option is being provided on the portal to all the existing taxpayers providing Goods Transport Agencies Services, desirous of opting to pay tax under the forward charge mechanism to exercise their option. They can navigate Services > User Services > Opting Forward Charge Payment by GTA (Annexure V), after login, to submit their option on the portal.
Option in Annexure V FORM is required to be submitted on the portal by the Goods Transport Agencies every year before the commencement of the Financial Year. The Option once filed cannot be withdrawn during the year and the cut-off date for filing the Annexure V FORM is 15th March of the preceding financial year.
Annexure V has been made available on the portal for GTA’s to exercise their option for the Financial Year 2023-24, which would be available till 15TH March, 2023.
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