theweek.in    2018-12-04 00:00:00

GSTR 9 Deadline Announced - LegalDocs Launches GSTR 9 Filing for MSME PTI December 04, 2018 12:22 IST (Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) MUMBAI, December 4, 2018/PRNewswire/ --First time in history of GST, Indian businesses have to comply with Annual GST filing under GSTR 9. There is a lot of confusion amongst small business owners regarding compliance of GSTR 9. Entrepreneurs, Businessman and Taxation executives are unaware of the processes to be followed. Professional support system to MSMEs is fragmented and there is no established player who provides accessible guidance to MSMEs.(Logo: https://mma.prnewswire.com/media/793286/LegalDocs_Logo.jpg )LegalDocs understands this pain-point of MSMEs & with the help of expert CA panel onboard, the company is resolving this issue. LegalDocs is leveraging digital mediums like blogs, videos and live seminars & have successfully educated more than 25,000 MSMEs on the process of updating GST. With the introduction of GSTR 9, LegalDocs will be helping MSMEs to understand annual compliance of GST. Consultation includes procedure to file GSTR 9 , what are the forms to be filled, preparation required to file it & all other related issues. Last date of filing GSTR 9 is 31st Dec, 2018 for financial year 2017-18. After 31st Dec there will be penalty charged based on per day.Team LegalDocs from their vast experience from MSME says, "People feel non-compliance of MSME is a big issue which is pulling them behind. But we believe the real problem is Education. There is no single platform which gives MSME all information & guidance regarding compliance. MSME owner looks after multiple things like business growth, profitability, hiring, funding, etc. so they look for a single person who can handle all compliance work. There is huge gap in getting quality & trustworthy professional at affordable prices."LegalDocs has launched free assistance to all MSMEs looking for help & guidance for GST return and GST registration. All MSMEs can dial to GST helpline number +91-90221-19922 or chat live at https://legaldocs.co.in/.LegalDocs is using state-of-the-art automation to serve their huge MSME client base. Their technology plays key role in keeping prices affordable & provide best of industry services.As per section 44(1) of CGST Act, every registered person is required to file annual return on or before 31st December of the year succeeding the financial year in form GSTR-9. So more than 1 crore+ GST holders have to complete filing before 31st December, 2018.Details from July 2017 to March 2018 are to be provided in GSTR 9 for this year. LegalDocs offers range of services from private limited company registrations, LLP registration, Trademark filing, to FSSAI registration and tax filing services.About LegalDocs:LegalDocs is India's fastest growing marketplace for Business Loan, Taxation, and Legal Compliance. LegalDocs makes access to credit, accounting and Legal work Easy, Secure and Valid. Using India Stack infrastructure, LegalDocs is creating state of art experience of Digital India for MSMEs of India. LegalDocs is growth partner of thousands of Indian MSMEs.Source: LegalDocs PWR

theweek.in    2018-11-23 00:00:00

J K employees' personal accidental insurance scheme to be renewed from Dec 1 PTI November 23, 2018 00:07 IST Jammu, Nov 22 (PTI) The Governor's administration Thursday ordered renewal of the group personal accidental insurance policy commencing from midnight of December 1, 2018 in Jammu and Kashmir, officials said. It will continue till midnight November 30, 2019, as per the agreement already executed between the government of Jammu and Kashmir and Oriental insurance company Ltd, they added. According to the Principal Secretary Finance, Navin K Choudhary, the policy shall cover an aggregate of more than 3.50 lakh employees including the employees of PSUs, autonomous bodies, local bodies, universities, daily rated workers, Consolidated, contractual, contingent paid workers, ad hoc workers and SPOs. The sum assured under this policy shall be Rs 10 lakh per employee against payment of a yearly premium of Rs 360 inclusive of GST, he said. He said all the Drawing and Disbursing Officers (DDOs) shall deduct Rs 360 from all categories of employees to be covered under the scheme from the salaries of November 2018 on compulsory basis. PTI AB CK Also read

theweek.in    2018-11-19 00:00:00

By Nachiket Kelkar December 05, 2018 16:49 IST [File] A security person walks past the RBI Headquarters in Mumbai | PTI Since the government banned high value currency notes in November 2016, the number of financial transactions being done digitally have risen sharply. However, issues like failed transactions are common. To address these issues, the Reserve Bank of India plans to put in place a dedicated ombudsman scheme for digital transactions. Following demonetisation, many people now do financial transactions digitally, through options like internet banking, credit and debit cards, mobile wallets and UPI (unified payments interface). According to data released by the ministry of electronics and information technology recently, from October 2016, the number of digital payment transactions in India had surged three-fold to touch 2.45 billion as of August 2018. With the digital transactions gaining traction in the country, the central bank feels there is an emerging need for a dedicated, cost-free and expeditious grievance redressal mechanism for strengthening consumer confidence in this channel. "The Reserve Bank's endeavor to build a less-cash society has facilitated a significant rise in volumes, value and channels for conducting digital transactions. For promoting the level of trust and customer confidence in this powerful channel that has wide and deep reach, a dedicated and empowered grievance redressal mechanism is a prerequisite," said Mahesh Kumar Jain, deputy governor of RBI. The ombudsman scheme for digital transactions to be notified by the end of January 2019, will provide a cost-free and expeditious avenue for rising number and growing complexity of such complaints, added Jain. The scheme will be administered and funded by the Reserve Bank and will cover entities falling under its regulatory jurisdiction, which not only includes banks, but even firms providing related services. The Payments Council of India (PCI) has welcomed RBI's move to set up a dedicated ombudsman for digital transactions. Vishwas Patel, the chairman of PCI said that due to a rapid adoption of digital payments across the country, the number of complaints too had shot up and a dedicated grievance redressal mechanism was needed for promoting level of trust and customer confidence. "India has the highest number of payment options in the world. A RBI monitored system to handle the customer complaints that is not addressed by the payment service provider, the escalation matrix and turnaround time for complaint resolution will certainly go a long way in boosting consumer confidence in digital transactions," said Patel. Separately, the RBI has issued instructions on limiting customer liability with respect to unauthorised electronic transactions involving banks and credit card issuing non-banking financial companies (NBFCs). As a measure of customer protection, it will bring all customers up to the same level with regards to electronic transactions made by them and extend the benefit of limiting customer liability for unauthorised electronic transactions involving prepaid payment instruments (PPIs) issued by other entities not covered by the existing guidelines. The guidelines for the same are to be issued by end of the month, RBI said. TAGS