BPA Educators

“86B. Restrictions on use of amount available in electronic credit ledger.-Notwithstanding anything contained in these rules, the registered person shall not use the amount available in electronic credit ledger to discharge his liability towards output tax in excess of ninety-nine per cent. of such tax liability, in cases where the value of taxable supply other than exempt supply and zero-rated supply, in a month exceeds fifty lakh rupees: Provided that the said restriction shall not apply where – (a) the said person or the proprietor or karta or the managing director or any of its two partners, whole-time Directors, Members of Managing Committee of Associations or Board of Trustees, as the case may be, have paid more than one lakh rupees as income tax under the Income-tax Act, 1961(43 of 1961) in each of the last two financial years for which the time limit to file return of income under subsection (1) of section 139 of the said Act has expired; or (b) the registered person has received a refund amount of more than one lakh rupees in the preceding financial year on account of unutilised input tax credit under clause (i) of first proviso of sub-section (3) of section 54; or (c) the registered person has received a refund amount of more than one lakh rupees in the preceding financial year on account of unutilised input tax credit under clause (ii) of first proviso of sub-section (3) of section 54; or (d) the registered person has discharged his liability towards output tax through the electronic cash ledger for an amount which is in excess of 1% of the total output tax liability, applied cumulatively, upto the said month in the current financial year; or (e) the registered person is – (i) Government Department; or (ii) a Public Sector Undertaking; or (iii)a local authority;or (iv) a statutory body:  KEY FEATURES 1) Excelled in the Job Oriented Training 2) 10+ years’ experience and qualified trainers (CA/CMA/CS/MBA) 3) Fully practical approach with best grades in exams 4) Training on Latest Accounting Software 5) The updated and relevant study material 6) Real-life projects & On the job training 7) Job for lifetime facility 8) 1000 + satisfied and placed students 9) Strong placement network 10) Connect with 500+ Employers 11) Monthly 200+ openings 12) Workshops, Guest Lecture, and various other activities for industry and student interaction 13) Special rebate scheme for special and weaker section students 14) Fully Equipped Infrastructure  

For expert advice   Address: C-8/13, Sector-7, Rohini, Delhi-110085 

Call: +91-8882196405 Email: [email protected] 

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The #government has made it #mandatory to mention 8-digit HSN or tariff code for 49 chemical-based products while issuing Goods and Services Tax (GST) invoice, a move experts feel is aimed at curbing tax evasion. While #notifying the HSN Code for these products, the #Central #Board of #Indirect Taxes and #Customs (CBIC) said, "A registered person shall mention eight number of digits of HSN Codes in a tax invoice issued by him." Currently, #businesses mention up to a 4-digit tariff code while issuing invoices  KEY FEATURES 1) Excelled in the Job Oriented Training 2) 10+ years’ experience and qualified trainers (CA/CMA/CS/MBA) 3) Fully practical approach with best grades in exams 4) Training on Latest Accounting Software 5) The updated and relevant study material 6) Real-life projects & On the job training 7) Job for lifetime facility 8) 1000 + satisfied and placed students 9) Strong placement network 10) Connect with 500+ Employers 11) Monthly 200+ openings 12) Workshops, Guest Lecture, and various other activities for industry and student interaction 13) Special rebate scheme for special and weaker section students 14) Fully Equipped Infrastructure   

For expert advice   Address: C-8/13, Sector-7, Rohini, Delhi-110085 

Call: +91-8882196405 

Email: [email protected] 

Private Facebook group: BPA mastery  

To get more updates to join VIP COMMUNITY OF BPA EDUCATORS- https://www.facebook.com/groups/bpamastery/ 

Website: www.bpaeducators.com 

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1. A #facility has now been provided to the taxpayers on the GST Portal, from 28th November 2020 onwards, to file an application online for unblocking of their EWB generation facility in Form EWB-05, in case their EWB generation facility has been blocked on the #EWB #portal.  2. To file an #online #application for #unblocking EWB generation facility on GST Portal, a taxpayer need to 1. Login to the portal and navigate to Services User services My Applications 2. Select application type as “Application for unblocking of E-way bill” and click New Application  3. Submit application in Form EWB-05, with the upload of up to 04 documents 3. The application so filed is populated to #dashboard of #jurisdictional #tax #official. The tax official can issue a Notice for a personal hearing to the taxpayer. Then the taxpayer can file their reply to the notice online, along with supporting documents.  4. At the conclusion of the proceedings, the Tax Officer can issue an order in Form EWB-06 approving the taxpayer application for unblocking the EWB generation facility. After which their EWB #generation facility will be #restored for the duration #specified in the order.  5. If the Tax Officer #rejects the taxpayer’s application vide #order in #Form EWB-06, the EWB generation #facility will remain blocked and the taxpayer shall be required to file their pending returns in Form GSTR-3B / Statement in FORM CMP-08, so as to #reduce the #pendency to less than two tax periods, for the restoration of the EWB generation facility.  6. Notices/ Order #issued by Tax Officer will be sent via SMS and mail to #taxpayer and will be made available on the taxpayer #dashboard #Services  User Services  View Additional Notices/Orders option.  

For expert advice   Address: C-8/13, Sector-7, Rohini, Delhi-110085 

Call: +91-8882196405 Email: [email protected] 

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Interest In Tally.ERP 9

1. Certain set of taxpayers had started e-invoicing from 1st October 2020. In the month of October 2020, about 4.95 Crore invoices were generated by 27400 GTINs.

2. The list of GSTINs State-wise, along with the names of entities who are actually generating IRN on the e-invoice production portal IRP has been published. The list is being updated from time to time.

3. From 1-1-2021, Government has mandated e-invoicing for the taxpayers with aggregate turnover exceeding Rs. 100 Cr. in any preceding financial year from 2017-18 onwards. The notification dated 10-11-2020 issued in this regard can be accessed HERE. Testing for taxpayers with 100 Cr. + Turnover:

4. For all the notified taxpayers, API sandbox/testing is enabled since 29th October 2020.

5. The trial e-invoice portal https://einvoice1-trial.nic.in/ for testing the upload of invoices by notified taxpayers through offline utility bulk generation tool was activated from 6th November 2020.

6. Taxpayers need to note that the e-invoices/IRNs and e-way bills generated on the trial e-invoice portal https://einvoice1-trial.nic.in/ are for testing purposes only. They don’t have any legal validity and shall not be used for regular supplies, i.e. for the actual movement of goods, etc.

7. As a facilitation measure, all the GSTINs pertaining to taxpayers with aggregate turnover above the prescribed limit as per the latest notification have been enabled for testing on the trial portal. E-invoicing Updates 16-11-2020 Page 2 of 4 e-invoices the ‘enablement’ is primarily to ensure only the notified taxpayers and not any taxpayer at their option are able to register and test reporting of invoices on the portal. The enabled taxpayers however need to register again on the portal.

8. One can search the status of enablement of a GSTIN on the e-invoice trial portal: https://einvoice1-trial.nic.in/ > Search > e-invoice status of taxpayer Please note that this listing of GSTINs is solely based on the turnover of GSTR-3B as per GST System. It may contain exempt entities or those for whom e-invoicing is not applicable for some other reason. Note The enablement status on the trial portal or production portal IRP doesn’t mean that the taxpayer is supposed to do e-invoicing. If e-invoicing is not applicable to a taxpayer, they need not be concerned about the enablement status and may please ignore it.

9. In case any registered person is required to start e-invoicing from the notified date but not enabled for testing on the trial portal, he/she may request enablement at the trail portal through the e-invoice Production Portal https://einvoice1.gst.gov.in > Registration > e-invoice enablement. Please note that the requested GSTIN will be updated on the trial portal on the next day and after that, the testing can be started. It may also be noted that the enablement of notified taxpayers Rs. 100 Cr. + on IRP, i.e. e-invoice Production Portal, will be done towards the end of December 2020 so that they will be able to report e-invoices from 1-1-2021 onwards.

10.For businesses who are presently using one or other Accounting/Billing/ERP Systems to create and manage their invoices, there are several modes for API integration. Details are given HERE.

11.Some businesses may not have their own ERP/Accounting Software or have few invoices to report. They can download the free offline utility ‘bulk generation tool’ from the e-invoice portal. Using this, invoice data can be easily uploaded on IRP for the generation of IRN. Below helpful videos are made available for taxpayers who wish to use offline utility for generation of IRN: e-invoicing Updates 16-11-2020 Page 3 of 4 e-invoice Video 1 e-Invoice: Registration on Portal and Generation of IRN Video 2 IRN Generation using Bulk Tools; Video No. 2 in the page e-invoice – Useful Resources

When an #Excel #formula refers back to its own cell, either #directly or #indirectly, it creates a #circularreference.  #iterative #calculations are usually turned off in Excel by the default (in this context, iteration is the repeated recalculation until a specific numeric condition is met). For circular formulas to work, you must #enable iterative calculations in your Excel workbook.  

Create your own #custom #list In a #column of a #worksheet, type the values to sort by. ... Select all of the #cells in that list, and then click #File - #Options - #Advanced. Scroll way down to the #General section and click Edit Custom Lists... In the Custom Lists #box, click #Import.  

For expert advice   Address: C-8/13, Sector-7, Rohini, Delhi-110085 Call: +91-8882196405 

Email: [email protected] 

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GSTR-2B is a new #static month-wise auto-drafted #statement for #regular #taxpayers introduced on the #GST #portal. The statement was launched from the #tax #period #August 2020 and can be #generated from 12th September 2020 onwards:-  GSTR-2B provides eligible and ineligible Input Tax Credit (ITC) for each month, similar to GSTR-2A but remains constant for a period.  GSTR2B is available to all the regular taxpayers. Every recipient can generate it on the basis of the GSTR-1, GSTR-5, and GSTR-6 furnished by their suppliers. The statement will clearly show document-wise details of ITC eligibility.  ITC information will be covered from the filing date of GSTR-1 for the preceding month (M-1) up to the filing date of GSTR-1 for the current month (M). For instance, GSTR-2B generated for July 2020 will contain documents filed by their suppliers from 12 a.m. on 12th July 2020 up to 11:59 p.m. on 11th August 2020. The statement for July 2020 will be generated on 12th August 2020.  

For expert advice   

Address: C-8/13, Sector-7, Rohini, Delhi-110085 Call: +91-8882196405 

Email: [email protected] 

Private Facebook group: BPA mastery  

To get more updates join VIP COMMUNITY OF BPA EDUCATORS- https://www.facebook.com/groups/bpamastery/ 

Website: www.bpaeducators.com 

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Twitter: https://twitter.com/EducatorsBpa

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Generating E-Way Bill in GST With The Help of Tally

Every business ought to have #transactions where their ultimate #profit and loss bring up. So, managing the transactions smarter gives a boost to the organizations. As many organizations moved toward Tally ERP 9, the voucher is the primary online document used to record the transactions. Tally ERP 9 has 16 different voucher #formats to cope with the need of every organizations’ transactions. According to the organizational need, the voucher format has to be decided. For example, a sales voucher can be used in the form of invoices and thereby used in post-dated scenarios too. Users can see the voucher types in Tally ERP 9…. To know the predefined voucher types in Tally ERP 9, go to Gateway of Tally → Display → List of accounts → Ctrl + V [Voucher types] Other than the #predefined voucher types, the user can also create user-defined voucher types as per their requirements. Predefined Voucher types The standard voucher types of Tally ERP 9 software include the enlisted ones. • #Receipt Voucher • #Payment Voucher • #Contra Voucher • #Sales Voucher • #Purchase Voucher • #Journal Voucher 

 For expert advice   Address: C-8/13, Sector-7, Rohini, Delhi-110085 Call: +91-8882196405

 Email: [email protected] 

Private Facebook group: BPA mastery  

To get more updates join VIP COMMUNITY OF BPA EDUCATORS- https://www.facebook.com/groups/bpamastery/ 

Website: www.bpaeducators.com

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Hello All, #Welcome to #Free #30 #Day #Session of #Tally provided by #BPA #Educators. BPA Educators Launching this youtube #live knowing today's requirement of #Tally in #Market. Tally is very useful and it's a #need of today as we all know in the coming 5 years all the #traditional jobs will be #EXTINCT and the #demand for excel #experts will increase #tredemously.

#Functions in excel- https://www.youtube.com/watch?v=R3GRg7lVycM&t=106s

Popular videos: How to use #pivot# table in excel https://www.youtube.com/watch?v=zuPy6zuZT2E&t=3s

Data validation in excel - https://www.youtube.com/watch?v=xDVHtUYC6w8

KEY FEATURES

1 Live project

A Certificate of #Professional #Training after the completion of the course.

OJT Certificate. OJT(On the Job Training).

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Expert advice Call: +91-8512851249

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