Speaking in a webinar on the changes in GST organized by the Ranchi branch of The Institute of Chartered Accountants, New Delhi’s indirect tax expert CA Navya Malhotra said that if a single businessman dies.
Ranchi, Jas. Speaking in a webinar on the changes in GST organized by the Ranchi branch of The Institute of Chartered Accountants, New Delhi’s indirect tax expert CA Navya Malhotra said that if a single businessman dies, the cancellation of registration under GST The process should be completed within a month. Because GST number is based on PAN number.
In this situation, if he is to continue the business through his successor, he is required to cancel the old GST number and get a new GST number. Even if that business is to be closed, the process of cancellation of GST should be completed within one month by filling the pending returns under that GST. Said that due to Corona epidemic, the government has extended the date of return filing for the months of March and April, but it has only waived the late fees, interest will be charged. From 1st April 2021, businesses with more than 50 million turnover have become required to write HSN code.
Service to society is important now
Specialist in the webinar, CS Devesh Goyal said that the government has given permission to hold a board meeting through video conference. Said, due to changes in the Companies Act, a lot of new columns have been added to the format of the Financial Report of the Act, due to which the work of preparing the financial report for the coming year will be much harder than before. Now the company will also have to give detailed information about the promoter’s share.
CA Pravin Sharma, president of the Ranchi branch, said that for us now, more important than our work is to save our family and people of our society from this epidemic. Also, be aware of the changes being made in commercial laws, so that the country and society can get the right benefit from this. Manisha Biyani, chairperson of the CPE committee, conducted the operation. It involved about 100 ca. Secretary CA Prabhat Kumar thanked.
