*What is Upstox? Earn from IPO Apply in Upstox - Upstox Review 2020* >>
https://www.wholetubermanish.in/2020/10/what-is-upstox-earn-from-ipo-apply-in.html

*Full details of TCS on sale of goods above 50 Lakhs under Income Tax* >> https://www.wholetubermanish.in/2020/10/tcs-on-sale-of-goods-above-50-lakhs.html

Membership subscription & fees spent towards meeting & admn. expenses by club is not a service, not liable to GST

Rotary Club of Mumbai Nariman Point, In re - [2020] (AAAR-MAHARASHTRA)


The applicant is a club and collects amount towards subscription and fee from members to meet meeting and administrative expenses. The applicant has sought an advance ruling to determine whether such contribution received from members amounts to supply under GST?

The Authority for Advance Ruling (‘AAR’) held that amount collected from members expended towards meetings and other administrative expense qualifies as a supply under GST. The applicant filed an appeal before the Appellate Authority for Advance Ruling (‘AAAR’).

The AAAR observed that as per Section 2(17) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’) the term ‘business’ includes provision by a club, association, society or any such body (for a subscription or any other consideration) of the facilities or benefits to its members.

In the present case, the applicant is not providing any specific facility or benefits to its members against the membership subscription charged by it. Since the entire subscription amount is spent towards meeting and administrative expenses only, thus the applicant is not doing any business in terms of Section 2(17) of the CGST Act. Further, collection of membership fee and subscription is in the nature of reimbursement for meeting and administrative expenses incurred by the applicant and hence, would not be considered as a supply.

The AAAR set aside the ruling of AAR and held that collection of amount from members for meeting & administrative expenses by club is not a supply of service and hence, not liable to GST.

*Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Crores*
>> https://www.wholetubermanish.in/2020/10/blocking-of-e-way-bill-ewb-generation.html

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*Income Tax Department conducts search in Ahmedabad* >> https://www.wholetubermanish.in/2020/10/income-tax-department-conducts-search.html

*No penalty for deduction of TDS at Lower Rate under wrong section* >> https://www.wholetubermanish.in/2020/10/no-penalty-for-deduction-of-tds-at.html

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*Three-wheeled motor vehicle fitted with battery pack, classifiable under HSN 8703, otherwise under HSN 8706* >> https://www.wholetubermanish.in/2020/10/three-wheeled-motor-vehicle-fitted-with.html

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*Roaming Charges Not Liable for TDS under section 194J* >> https://www.wholetubermanish.in/2020/10/roaming-charges-not-liable-for-tds.html

Important Update :

Taxpayers who haven’t filed any 2 consecutive GSTR-3B returns upto July 2020 tax period will not be able to generate Part-A of the E-way Bill beginning 15th October.

*No registration required for trust carrying out ‘charitable activities’ exempt under GST* >> https://www.wholetubermanish.in/2020/10/no-registration-required-for-trust.html

Date for furnishing audit reports incl tax audit report & Form 3CEB extended to 31 Dec 2020.

Date for ITR where audit is applicable: 31st Jan 2021

Date for ITR where Audit is not applicable: 31st Dec 2020.

*GST not applied on Dream11’s ‘online fantasy games’ as it is a game of skill and not ‘betting’* >> https://www.wholetubermanish.in/2020/10/gst-not-applied-on-dream11s-online.html

*GSTR9 and GSTR9C due date for FY 2018-19 extended to 31st Dec 2020* >> https://www.wholetubermanish.in/2020/10/gstr-9-gstr9c-due-date-for-fy-2018-19.html

*EVC facility for filing GSTR1 GSTR3B for companies withdrawn w.e.f. 01/11/2020* >> https://www.wholetubermanish.in/2020/10/evc-facility-for-filing-gstr1gstr3b-for.html

What is fake invoice? Issue of invoices without supply of goods or services where payment of tax is made by way of input tax credit which is not available to the issuer of invoice. in such cases, there is no receipts of goods or credited by the issuer of invoice. He merely issues invoices and shows payment of tax by non-existent input tax credit. This result in actual loss of revenue where the buyer of the invoice avails in inadmissible credit which is used for payment of tax. There has also been instance where no GST has been paid even by ITC by the issuers of the fake invoice.

Extension of due date of furnishing of Income Tax Returns and Audit Reports :

In order to provide more time to taxpayers for furnishing of Income Tax Returns, it has been decided to further extend the due date for furnishing of Income-Tax Returns as under:

(A) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31st January, 2021.

(B) The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date (i.e. before the extension by the said notification) as per the Act is 30th November, 2020] has been extended to 31st January, 2021.

(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was 31st July, 2020] has been extended to 31st December, 2020.

Consequently, the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 31st December, 2020.

if anyone wants to be admin of this group and share the knowledge and latest updates...do let me know.

GSTN Portal now displays Annual Aggregate Turnover for Previous Financial Year >> https://www.wholetubermanish.in/2020/11/gstn-portal-now-displays-annual.html