UIDAI made changes in Online updation process

UIDAI (Unique Identification Authority of India) who is the issuer of 12 – digit Unique Identification Number on behalf of the government, has modified the online tools where the Aadhaar card holders could update their basic details online. However, in the new changes made by the UIDAI, Aadhaar holders can only update their address online or by post. Only address can be updated online by post with effect from October 20, 2017, the UIDAI said on a micro blogging site, Twitter.

Hence, people now cannot change or update other details such as name, date of birth, mobile number and email address online, they will have to visit the ‘Aadhaar Kendra’ or Aadhaar Centre nearest to them in order to make a request.

How to update Address fed into Aadhaar Database

  1. Visit the official website of UIDAI and ‘Address Update Request (Online)’ tool. You can find the link here: https://ssup.uidai.gov.in/web/guest/update.
    Using UIDAI Online Services Update your Aadhaar details
    Using UIDAI Online Services Update your Aadhaar details
  2. Now enter your 12 – digit Aadhaar number and click on the ‘Send OTP’ option, which you will receive on your registered mobile number by the Aadhaar system.
    Aadhaar-Card-Update-Login-Screen
    Aadhaar-Card-Update-Login-Screen
  3. Now on the next page, you are required to select ‘Address’ and proceed by clicking ‘Submit’ button.
    Aadhaar Card Update Detail Selection
    Aadhaar Card Update Detail Selection
  4. Now on the next page, the UIDAI website enables the user to check the entries.
  5. Check the entries properly and proceed by providing the valid documents which supports the changes. And you are required to upload digital files created by scanning the original documents. As stated by UIDAI,
    Upload original scan copies, else your update request will be rejected… Upload only the valid documents to avoid update request from rejection
    Details Screen-Aadhaar Update Portal
    Details Screen-Aadhaar Update Portal
  6. Now select from the available service providers and proceed. At this stage, the UIDAI portal also displays the estimated time required to process your request.
    BPO Service Provider screen - Aadhaar Update Portal
    BPO Service Provider screen – Aadhaar Update Portal
  7. And finally at the time of submission, a URN (Update Request Number) will be issued. And this URN will be used to track the status of your request.

Documents Required for Aadhaar Address change

You will have to provide following documents to change the address in your Aadhaar Card

  • Scanned image of original proof of address (PoA)
  • Passport
  • Bank statement / passbook
  • Statement of Post Office account / passbook
  • Ration card, Voter ID, driving license, water bill and telephone landline bill are some of the other documents

Also please note that the bills for water, telephone and electricity must not be older than three months.

Different Taxes in India – All about Direct and Indirect Tax

Every year at the end of the month of March, every company, organization, institution and the Government sector offices and even the employees working in the organizations etc. have so many questions revolving in their mind that- Do we need to Pay Tax? Are there any changes in the rates and schemes? Well, Taxes are mandatory. Every eligible citizen of India has to pay taxes.

What is Tax

Tax is a charge that is levied by the Central Government or the State Government of India. The tax charge is implemented for the betterment of the country’s economy and improving the standards and welfare of the country. The tax rules and the types of taxes are constituted by the Ministry of Finance’s Department of Revenue.

Different Types of Taxes in India

The Various types of taxes in India are

  • Direct Taxes
  • Indirect Taxes
  • Other Taxes

Direct Tax

Direct Taxes are the taxes that are directly paid or imposed to the Government of India. These taxes are controlled by the Government body, Department of Revenue named as Central Board of Direct Taxes (CBDT). The different types of direct taxes in India are

  1. Income Tax– Income Tax in India is levied on anybody who earns an income in India, whether they are resident and non-resident. They are classified into some categories like- individual person, Hindu Undivided Family (HUF), Association of Person (AOP), Body of Individuals, Corporate Firms, Companies, Local Authorities and another artificial jurisdictional person who have earned an income and they are eligible to pay the income tax. The Income tax is charged on the total income of the previous year at the rates prescribed for the particular assessment year. According to the assessment year of 2017-2018 the income tax rates are categorized on the basis of income slab.

The income tax rates are distributed in 5%, 10%, 20%, and 30% on the basis of the total income. A Surcharge of 10% of the income tax is added for the income between Rs 50 Lacs to 1 Crore. A surcharge of 15% is charged if the total income exceeds Rs 1 Crore.An Educational Cess of 3% is also charged in case of every individual.

For more details regarding the Income Tax rates for FY 17-18 please click here

  1. Capital Gains Tax– It is a tax gain on capital. If you are selling a property, bond or dealing any contract and you are gaining a profit in it, then you need to pay Capital Gains Tax. This type of tax is of two types- short term and long term. The long term Capital Gains Tax is charged if the capital assets are charged for more than 1 year in a shared case and 3 years in the case of contract whereas short term Capital Gains Tax is charged if it is less than the certain period mentioned above for the long term.
  2. Securities Transaction Tax– This type of tax is applicable, on the platform of stock exchange. If you are buying or selling equity shares, derivative instruments, equity oriented Mutual Funds, then the Security Transaction Tax is implemented.

The Current Security Transaction Tax Rates

Market Type Current Rate
Future and Options 0.017%
Capital Market (Delivery) 0.125%
Capital Market (Intra-Day) 0.025%

 

  1. Wealth Tax- This tax was imposed on one individual if their net wealth exceeds 30 lacs at the rate of 1% on the amount exceeding 30 lacs. Wealth Tax is no longer leviable from assessment year 2016-17.
  2. Corporate Tax- Corporates are the annual or the yearly taxes that are payable on the income of the corporate organization operating in India. These are broadly classified as Domestic and Foreign Companies.

Indirect Taxes

Indirect Taxes are the taxes that are not directly levied on the tax payer or the individual, but indirectly imposed on the expense incurred by the individual. Like for an example, when we buy any product, we pay GST (Previously VAT or Service Tax in case of Services). Following are the types of the indirect taxes

  1. Good and Services Tax (GST)– It is a type of Indirect Tax which is charged on the sale, consumption, manufacture of Goods and services at the National Level. GST was amended by the Constitution of India (122nd Amendment Bill) 2014. GST is implemented for country’s economic growth and reduce the overall tax burden on the goods in the country. The other taxes that are included in the umbrella of GST are
    1. Value Added Tax (VAT)– The Sales Tax is complimented with Value Added Tax to make it uniform across the country. These taxes are applied when the goods are sold completely and finally to the customer. VAT is now a part of Goods and Service Tax (GST)
    2. Excise Duty– Excise duty is the type of indirect tax that is levied by the Government on the goods and commodities that are manufactured in India. These goods are meant for the domestic consumption. Ex- Salt, sugar, newspapers, Tobacco, Gasoline, Alcohol etc. Excise is also a part of GST now.
    3. Service Tax–  The Service providers are the connected to the service tax. The service tax is charged on the aggregate amount that is received by the service provider. Example- leasing, The INTERNET, transportation etc. are subjected to the service tax. Service
    4. Customs Duty– These are the indirect taxes that are imposed on the goods that are imposed on the goods that are exported from India and imported to India.
    5. Sales Tax– These taxes are imposed by the Government on the sale and purchase of the goods in the Indian Market. These are charged on the movable goods. Anything you purchase in the market, you pay sales tax for it. Examples are- telephone, salon, the advertising company, health centre etc. The last rate of the Sales tax is 14.5%. It is now replaced by GST as is the case with all above stated taxes.

GST is divided into 3 parts

  1. Central GST (Levied by Union Government of India)
  2. State GST (Levied by Various State Governments)
  3. Integrated GST (Levied by Union Government when there is a movement of Goods or Services across state lines.

GST Rates comprises of CGST + SGST which are equal and half of below given rates. GST Rate Slabs are given below

The GST Rates are distributed on the basis of the product category

GST RATES PRODUCTS
GST (0%) Milk, jaggery, fresh vegetables, unbranded honey and paneer, coconut water, prasad, salt
GST (5%) Kerosene, Coal, tea, spectacles, cashew nuts, mat flooring, raisin, LPG, Footwear (<Rs 500), Apparels (<Rs 1000).
GST (12%) Butter, ghee, almonds, umbrellas, mobiles, packed coconut water, preparations of vegetables, fruits like (Chutney, Jam, Jelly, Pickle)
GST (18%) Hair Oil, toothpaste, computers, CCTV, cornflakes, staplers, ice cream, computer monitor (<17 inches), printers.
GST (28%) Luxury Products, Betting, Horse Racing, 5 Star Hotels, Cinema Tickets etc.

 

  • For the restaurants serving alcohol, the tax charged will be 18%.
  • Education, Healthcare are going to be exempted from GST.
  • GST charges on the services on Non-AC Restaurants will be 12%.
  • GST on Gold and Jewelery will be 3%
  • GST on Diamond and Precious Stones will be 0.25%
  • Petroleum Products and Liquor is not a part of GST regime and is still under the VAT and Excise Model.

Other Indirect Taxes

  1. Professional Tax– It is the tax that is charged on the income on the basis of the profession or employment. An individual earning an income or anyone holding a profession such as a lawyer, doctor, interior or fashion designer etc.
  2. Municipal Tax– This tax is imposed by the local authority called as Municipality of the country. These are the local taxes that are paid to the Municipal Corporation if he or she owes a house property. These taxes are paid for the maintenance of sewage, road, civic services.
  3. Entertainment Tax– This tax is imposed by the State Government on the financial transaction that is related to the Entertainment. These taxes are imposed on the movie tickets, stage/ theater shows, broadcasting, DTH and cable services. This tax is no longer active and covered under the umbrella of GST from July 1st, 2017 Onwards.
  4. Stamp Duty, Registration Fees, Transfer Tax–  When you are purchasing a property then you have to pay additional charges like the stamp duty, registration fees, transfer tax etc. This tax is levied by the Government for preparing the legal documents of the property. This is the tax is imposed over the handling of the title of the property ownership from one person to another. The amount varies from property to property.
  5. Education Cess and Surcharge– The Education Cess is divided into two types – Primary Education Cess and Higher Secondary Education Cess. This tax is levied by the Government to improve the education quality in the public schools and colleges. It comprises of the 3% of the income tax. The Cess charges are also included under the GST family structure. Whereas, the surcharge is an extra charge that is clubbed to your existing tax calculation. This tax is applied on the tax amount.
  6. Gift Tax– If you receive the gift from someone, it is merged with your income and you need to pay tax on it. This tax is called Gift Tax. This tax is applicable if the amount is more than Rs 50,000/- in a year.
  7. Swachh Bharat Cess – This tax is recently imposed by the Government. The tax is applicable to all the taxable services from 15th November 2015. The effective rate of Swachh Bharat Cess is 0.5%. Swachh Bharat Cess is abolished after the introduction of GST.
  8. Krishi Kalyan Cess– This tax is levied for the welfare of the farmers. The effective rate of the Krishi Kalyan Cess is 0.5%. This tax came into effect in the year June 1st, 2016. Krishi Kalyan Cess has been abolished after introduction of GST
  9. Entry Tax– This tax is levied or charged on the goods that are bought within the state or from outside the state. Entry Tax is separately charged by the State Government of India. This tax is also known as the Octroi Tax. Octroi is no longer levied after the introduction of GST.

Some other forms of taxes are

  • Dividend tax
  • Infrastructure tax
  • Property tax
  • Luxury tax
  • Toll tax.

The above Cess mentioned like -Swachh Bharat Cess, Krishi Kalyan Cess and the Entry Tax are no longer active now and they are clubbed with GST.

Latest Update- The latest report on tax says that after the introduction of the GST all the indirect taxes are merged under GST. So, the above taxes are removed due to the arrival of GST in the queue of Taxes. So, the taxes are reduced from number 25 to 10.

GST Composition Scheme

In every tax system, there are certain actions which need to be taken to validate the statutory provisions like filing timely returns and maintaining prescribed records, periodic payment of taxes. However, the small business enterprises (SMEs) constantly combat while dealing with such requirements due to lack of knowledge and expertise. Hence, to reduce the burden of compliance for small businesses, a composition scheme has been introduced where the enterprises can pay tax at a minimum rate based on their turnover.

Composition scheme is an extension of current Value Added Tax (VAT) law scheme where taxpayers are mandated to file summarized returns on a quarterly basis, instead of three months returns.

Key Features of GST Composition Scheme

  • A tax rate under GST composition scheme is expected to be 1% to 3%.
  • Enterprises come under GST composition scheme do not qualify for Input Tax Credit under section 16.
  • Local suppliers, who supply goods within the state, are eligible for GST Composition Scheme. Enterprises dealing in interstate supply of goods will fall under regular tax scheme.
  • Getting registered under GST composition scheme is voluntary and optional.
  • Under GST composition scheme, tax payers need to submit a bill of supply instead of invoice of the tax to the tax authorities.

Rate of Tax under Composition Scheme

There are 3 different rates under GST Composition Scheme:

Category Rate of Tax
Manufacturer, other than the manufacturer of the goods as notified by the Govt. One percent
Suppliers of Goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption) Two & a half percent
Any other eligible supplier Half percent

Eligibility Criteria for GST Composition Scheme

There are limitations of GST composition scheme. Not everyone can enrol under this scheme. Any enterprise which has a turnover less than 50 Lakh can opt for this scheme, crossing the limit, will be disentitled from the scheme and will register them in a regular scheme.

  • This provision is for suppliers dealing in goods. Service providers are exempted from this scheme. However, restaurant service providers are excluded.
  • The scheme is only for intra state supply of goods.
  • Dealer supplying goods through e – commerce sites are not eligible for the scheme such as (Flipkart, Amazon, e – bay etc)
  • In case the registered person under GST found ineligible for the scheme, then the tax authority can impose a penalty equal to the amount of tax on such person along with his tax liability.

Registration under Composition Scheme

Any desirable tax payer can enrol themselves under GST Composition Scheme from the beginning of the financial year. The application will have to be filed on or before 31st March of the Previous Year so that returns can be filed accordingly.

Dealers under composition scheme can switch to the regular scheme during the year. However, they cannot switch to composition scheme again during the same financial year.

Returns under Composition Scheme

Under composition scheme, a registered taxable person shall furnish a return for each quarter in a prescribed form in the prescribed manner within eighteen days after the end of a relevant quarter.

Registered tax payer under GST composition scheme should adhere to the GSTR 4, which is a tax return form prescribed by the Government.

Benefits under Composition Scheme

Less Compliance

Under GST, a normal taxpayer is required to file at least 3 returns monthly and 1 return annually. Whereas, in composition scheme, only a quarterly return will be uploaded under GSTR – 4.

Reduced Tax Liability

Under GST composition scheme, the rates are very low from 1% for manufacturers to 2.5% for restaurant service providers and 0.5% for other suppliers of turnover.

Particulars Description Registered as a normal tax payer Description Registered as a tax payer under composition scheme
A Total Sales Value 118000 Total Sales Value 118000
B Sales Value exclusive of taxes 100000 Sales Value exclusive of taxes 115686
C GST @ 18% on sales value 18000 GST @ 18% on sales value 2314*
D Input Purchases 65000 Input Purchases 65000
E GST @ 18% 11700 GST @ 18% 11700
F Total Purchase Value (D+E) 76700 Total Purchase Value (D+E) 76700
G Net GST Liability (C–E) 6300 Net GST Liability (C–E) 2314

Source: http://www.profitbooks.net/gst-composition-scheme/

Restrictions under Composition Dealer

Following are the restrictions on the composite dealer:

  • He is neither a causal dealer nor a Non-resident taxable person
  • He belongs to a place outside India
  • Goods have not been purchased from an unregistered supplier and where purchased he pays tax as per the provisions of the act.
  • He is required to pay central tax under reverse charge for the inward supplies of goods or services or both.
  • He shall mention the words “composition taxable person, not eligible to collect tax on supplies” at the top of the bill of supply issued by him.
  • He shall mention the words “composition taxable person” on every notice or signboard displayed at a prominent place of business and at every additional place or places of business.

FAQs

What is a Composition Scheme under the GST Act?

The composition scheme allows a registered person, whose aggregate turnover does not exceed Rs.50 lakhs in the preceding financial year, to pay a certain percentage of tax as prescribed by the GST Council

Who can opt for Composition Scheme?

Any business house dealing in goods and having an aggregate turnover not exceeding Rs.50 lakhs in the preceding financial year can opt for composition scheme.

Can a professional be registered under Composition Scheme?

No, any person providing any kind of service cannot be registered under the Composition Scheme. It is only for businesses dealing in goods.

What is the tax rate applicable if you are a composition dealer?

The tax rate applicable for a dealer registered under composition scheme is:

If you are a manufacturer – 1% of turnover.

If you are a supplier of food for human consumption – 2.5% of turnover.

Others – 0.5% of turnover.

Please note that this rate is under the CGST Act and you will have to pay the same in SGST Act as well, so in short, it will be twice the tax rate applicable to you.

What are the transition provisions if a business transits from Composition Scheme under current regime to Regular Taxation under GST?

Taxpayers registered under composition scheme under the current regime will be allowed to take credit of input held in stock, or in semi-finished goods or in finished goods on the day immediately preceding the date from which they opt to be taxed as a regular tax payer.

How To Re-Apply For A Lost PAN Card | Simple Steps

PAN also called as Permanent Account Number consists of a 10 digit alpha-numeric number. It is used as an Identity Proof and is issued under Income Tax Act 1961. The PAN Card is issued by the Income Tax Department under the supervision of Central Board of Direct Taxes (CBDT). PAN is one of the most important official document that every taxpayer have with them. PAN Card helps in carrying out high-valued transactions. PAN Card is also issued to the Foreign Nationals like investors as a subject to a valid Visa, unlike Aadhaar number and Driving License.

The PAN is important for major functional transactions like opening a bank account, ITR Filing, receiving Taxable Salary, Sale or Purchase of Assets etc.

Due to the heavy usage, there is quite a lot of chance to misplace or lose the card somewhere. A lost PAN Card can be very risky but the Government has contributed enough of the facilities to avail a Duplicate PAN Card.

Some Important Links Related To The PAN Card
PAN Card Information Click Here
Apply For The PAN Card Click Here
Track PAN Card Application Status Click Here 
Form 49A Click Here
PAN Card For NRI Click Here
PAN Card Correction/Update Click Here
Check PAN Card Number Click Here
Apply For Duplicate PAN Card Click Here
PAN Card Link With Aadhaar Card Click Here

Steps To Apply For A Lost PAN Card

If you have lost your PAN Card then follow these simple steps to get it reprinted.

  1. Visit the official website of TIN-NSDL: www.tin-nsdl.com and go to the section “Online Application of PAN”.
  2. Now choose the option “Reprint of PAN Card”. This option is meant for the lost and stolen PAN Card.
  3. When you click on the link, you will be redirected to another page, where you need to click on the link “Online Application For Changes/ Correction in PAN data link”.
  4. Now, when you click on the link, you will be redirected to the page where the guidelines and instructions are viewed. Click Next after reading the instructions.
  5. Now you can fill in the application form. Provide the details like the Permanent Account Number Details, Name, Communication Address, Telephone Number, email ID etc. Documents such as photograph and ID Proof must be submitted along with the form. The applicant must submit it before the submission of the form.
  6. You can either submit the form online otherwise can post it to NSDL, along with the required documents.
  7. The payments are on the basis of your communication address, if you are staying within the country then you need to pay an amount of Rs 107. If you are staying outside India then you need to pay an amount of Rs 989.
  8. Accepts Net Banking, Debit cards, Credit Cards mode of payments if done online. If done offline then a demand draft is done for the payment.
  9. When your payment is successful, an acknowledgment number is provided along with the form. This acknowledgment number can be used in future to track down the application status.
  10. Then after, a duplicate PAN with the same PAN details will be sent to the registered communication address.

The Government in the last budget introduced a new law which said that it is mandatory to link PAN Card with Aadhaar. The last date to link PAN with Aadhaar is 31st December 2017.

Read here Complete procedure of How to link Aadhaar Card with PAN Card.

Driving License Rajasthan – transport.rajasthan.gov.in

Driving License is an official document issued by the Regional Transport Office (RTO). Holding this document permits an individual to drive specific categories of vehicles based on his/her requirements. This document is issued to an individual, once the applicant passes the required test conducted by officials from RTO in Rajasthan.

Once the applicants pass the test and hold the license, they are required to keep the license at all times and will have to produce it whenever a law official asks for it as this works as a proof of the candidate’s eligibility to operate a motor vehicle.

Important Links Related To Rajasthan Documents
Apply For Rajasthan Voter ID Card Click Here
Check Rajasthan Bank IFSC Code Click Here
Check Rajasthan Pin Code Click Here
Apply For Rajasthan Ration Card Click Here

Rajasthan Motor Vehicle Department

The Rajasthan Motor Vehicle department in Rajasthan has numerous Regional Transport Offices or RTO and staff throughout the state. This department is headed by the Transport Commissioner. And some of the responsibilities of this department are issuing driving licenses and permits, registration of motor vehicle, enforcing all regulations of the Motor Vehicle Act.

Driving License in Rajasthan

In any part of the country, the applicants are required to procure a learner’s license. Any applicant above the age of 18 years is eligible for a learner’s license which is valid for 6 months. And holders of this license can only drive gearless vehicles with a capacity of 50 CC. Also, the applicants are required to provide written consent from parents and guardians. And within 180 days, the candidates can apply for a driving license.

Procedure for Obtaining Driving License in Rajasthan

If a customer applies for the Driving License in Rajasthan, they can do it online or through RTO office.

Procure form 4 and fill in the form by providing required details such as proof of age, proof of address, and so on. Applicants above the age of 50 will have to provide medical clearance through Form 1A.

And in order to obtain a license, candidates are required to drive the vehicle that they wish to procure a license for as per the instructions of the RTO, the RTO officers will be present at the test.

Documents Required for obtaining Driving License in Rajasthan

Keep the following documents handy before obtaining the Driving License in Rajasthan:

  • Fill the Form 4 (click to download) and submit it.
  • Three passport size photographs.
  • Proof of residence such as Voter’s ID, Passport, Life Insurance Policy.
  • Pay slip issued by the State Government, Central Government.
  • Proof of age such as birth certificate, school certificate, and passport.