Nil Return Late Fee

Page no : 5

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 18 October 2017

People saying GST is good opportunity for CA and taxation consultant. But My dad who is taxation consultant with 25 years experience saying it will be disastrous for professionals.i can see 30% our profession business down.

Upgrade to CAclubindia Pro. Subscribe Now!

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 18 October 2017

Outstation clients branch in our city, for which we were doing all VAT compliance under earlier regime now gone. They are doing there own from there head quarter now.
Now what scope for CA left. My dad telling me for look for job.We still have SME 100+ clients.But we can't depend on SMEs...As still July month return pending.how can we charge before filing of complete month july

Amit Mohan Pandey (Practising chartered accountant) (371 Points)
Replied 18 October 2017

He is also saying there will be less assessment during GST regime.
what to do continue my practice or look for job...
I am practicing since Nov 2013. Only doing ITRs , tax audits , Vat returns ,Certifications..as I was preparing of UPSC.But now get over with damn UPSC and want to concentrate on practice.But my dad not supporting me in practice.

Advocate Naval Puri (Tax Consultant) (31 Points)
Replied 18 October 2017

Govt is making fool to traders and tax consultants.

anshul aggarwal (Consultant) (1074 Points)
Replied 18 October 2017

Atleast tax consultants will not be penalized whereas businessman has to pay fine, interest etc. I pity people filing nil return with penalty. Such a cost for tax compliance is not acceptable. It pains one who has not earned anything and is forced to pay penalty for nil return.

Upgrade to CAclubindia Pro. Subscribe Now!

Mohammed Goryawala (727 Points)
Replied 19 October 2017

@ Anshul Aggarwal Very much agreed!
As the system is new, the govt should give relaxation for late fees for 6-8 months.

Those who don't do business have to pay late fees its a loss for them.

CA CHETAN GUPTA (CA) (588 Points)
Replied 20 October 2017

Freigth paid in a Month 5 Times.

1200+2000+1800+3000+4000=12000/-

Do we have to Pay . . GST on RCM Basis? As Per Day it is Below 5000/- But Monthly it is More than 5000/-

CA CHETAN GUPTA (CA) (588 Points)
Replied 20 October 2017

I have read in News, at Many Places Tax Bar Associations are going for NO WORK - i.e. NO RETURN FILING if LATE FEES for AUGUST is Not WAIVED and SEP 3B Last Date not Increased.

Is it Correct ? Really have People stopped filing Returns ? Or Should we do that?

Because No One is ready to Pay Late Fees and hence their September Return cannot be Filed.

Dr. ShamsheerKhan (Director of S S Associates) (968 Points)
Replied 20 October 2017

@ Chetan Gupta

The daily/each consignment in full vehicle is 1500 and part vehicle is 750.

Apply RCM as it suits and pay RCM accordingly.

CA CHETAN GUPTA (CA) (588 Points)
Replied 20 October 2017

Kindly Explain.

I think there is a Limit of 5000/- Expenses per day.

Upgrade to CAclubindia Pro. Subscribe Now!

Dr. ShamsheerKhan (Director of S S Associates) (968 Points)
Replied 20 October 2017

RCM for transporting is under section 9(3) and the 5000 limit is given for aggregate sec 9(3)&9(4) like expenses/goods purchase /services taken from URD subject to not crossing the limit of daily/each consignment in full vehicle is 1500 and part vehicle is 750.

RAJA P M ("Do the Right Thing...!!!") (128075 Points)
Replied 20 October 2017

Originally posted by : CA CHETAN GUPTA
	Freigth paid in a Month 5 Times. 1200+2000+1800+3000+4000=12000/- Do we have to Pay . . GST on RCM Basis? As Per Day it is Below 5000/- But Monthly it is More than 5000/-

Dear CA CHETAN GUPTA Sir.,

Freight if GTA the one day limit is not applicable (750 & 1500)*... Other than GTA (w/o CN / LR / Builty) is fully exempted...

RAJA P M ("Do the Right Thing...!!!") (128075 Points)
Replied 20 October 2017

Originally posted by : CA CHETAN GUPTA
	I have read in News, at Many Places Tax Bar Associations are going for NO WORK - i.e. NO RETURN FILING if LATE FEES for AUGUST is Not WAIVED and SEP 3B Last Date not Increased. Is it Correct ? Really have People stopped filing Returns ? Or Should we do that? Because No One is ready to Pay Late Fees and hence their September Return cannot be Filed.