PAN a must for excise, service taxpayers for GST registration

January 8, 2017

New Delhi, Jan 8: The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.

panDespite the political impasse putting a question mark on the planned rollout of the new tax regime from April 1, the Central Board of Excise and Customs (CBEC) continues to do the groundwork with April 1 as the target date.

GST will subsume central excise and service tax, and CBEC has initiated the process of migrating these taxpayers to the new regime through issuance of a provisional registration number.

"Every person registered under any of the earlier laws and having a valid PAN shall be issued a certificate of registration on a provisional basis," CBEC said in an order.

For excise and service tax assessees without a valid PAN number, CBEC said "the assessee needs to obtain the PAN number and update the registration details on the ACES portal before the assessee can be migrated to GST".

CBEC has also asked its field offices to launch awareness campaign and outreach programmes to facilitate migration of all excise and service taxpayers to the GST network by January-end.

The provisional registration, which will be generated on the basis of PAN, will be called Goods and Services Tax Identification Number (GSTIN). Also, a provisional ID and password will be provided which the excise and service taxpayers must use to log in to the GST portal -- gst.gov.in -- and fill the required details and upload the supporting documents, it said.

After providing the requisite details, an ARN (Application Reference Number) would be communicated to the assessee by GSTN (GST-Network). Once an ARN is communicated, the assessee "would migrate to GST on the scheduled GST rollout date with the issue of provisional certificate", it said, adding that CBEC is making all-out efforts for smooth implementation of GST by April 1, 2017.

It further said that in the GST regime, one unique registration for a single PAN will be issued and the existing assessees will be given one provisional ID per state where the place of business is registered in the current excise or service tax regime. The remaining registrations in a state could be added as additional place of business on the GSTN portal.

The government is looking to roll out GST by April 2017, but issues like jurisdiction over assessees and taxation rights over high seas have become sticking points at the GST Council deliberations. The Council will meet on January 16 to thrash out a consensus on the vexed issues.

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coastaldigest.com news network
June 13,2020

Mangaluru, June 13: Commending the Karnataka government move to ban the online classes for children up to Standard 5, Mangaluru MLA U T Khader has demanded to impose ban on all education apps that offer online coaching to school children.

"I welcome the government’s decision of banning online classes up to class 5. I would like to know why education apps of corporate companies are allowed to continue when schools are banned to conduct online classes. Why the government could not ban those education apps that offer online classes?” the former minister questioned.

He warned that private schools in the state may commence their online classes through such apps of corporate companies if the present situation continues.

Not all parents in the state can afford buying smart phones required for online classes, he said. "Only 30% of the school children in the state have access to smart phones. Most of the parents cannot afford to buy smart phones for their children. Government should take into consideration the mental stress of academically brilliant children among poor families. Those children may go under depression when they do not have access to online classes. The government can cancel some of the schemes like distribution of bicycles and reserve such funds to find solutions to the problems poor children face at present,” Khader said.

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coastaldigest.com news network
June 14,2020

Bengaluru, Jun 15: The total number of COVID-19 cases in Karnataka reached the 7,000-mark on Sunday, with the state reporting 176 new cases and five related fatalities, taking the toll to 86.

The day also saw 312 patients getting discharged in the state after recovery while the total number of positive cases in the Udupi district alone breached 1000 cases mark.

As of June 14 evening, cumulatively 7,000 COVID-19 positive cases have been confirmed in the state, which includes 86 deaths and 3,955 discharges, the health department said in its bulletin. It said, out of 2,956 active cases, 2,940 patients are in isolation at designated hospitals and are stable, while 16 are in ICU.

The five dead include- thee from Bengaluru urban, and one each from Dakshina Kannada and Bidar. The three from Bengaluru include- two women aged 57 and 60 respectively and a man who was 50 years; while the person who died in Dakshina Kannada was a 24-year-old man.

Also, a 76-year-old man from Bidar, who died at his residence on June 6, later tested positive for COVID-19. Out of 176 new cases, 88 are returnees from other states, the majority of them from neighboring Maharashtra. While 6 are those who returned from other countries.

Among the districts where new cases were reported, Bengaluru urban accounts for 42, Yadgir 22, Udupi 21, Bidar 20, Kalaburagi 13, Dharwad 10, Ballari 8, Kolar 7, Uttara Kannada 6, five each from Mandya and Dakshina Kannada, Bagalkote 4 and Ramanagara 3. Besides, two each from Raichur and Shivamogga, and one each from Belagavi, Hassan, Vijayapura, Bengaluru rural, and Haveri.

Udupi district tops the list of positive cases, with a total of 1,026 infections, followed by Kalaburagi 896 and Yadgir 809.

Among discharges also Udupi tops the list with total of 713 discharges, followed by Kalaburagi 427 and Bengaluru urban 327. A total of 4,43,969 samples were tested so far, out of which 7,451 were tested on Sunday alone. So far 4,27,608 samples have been reported as negative, and out of the 6,835 were reported negative today.

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coastaldigest.com news network
May 27,2020

Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.

The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud. 

The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt

"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.

"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.

The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.

The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.

As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.

The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."

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