GST is PAN-Based: Everything You Need to Know!

GST is PAN-Based – Are You Compliant?

Did you know that GST is applicable on all your taxable supplies, regardless of where you receive the payment? If you hold a GST registration, you must charge and remit GST on all eligible transactions, no matter whether the funds are deposited in:

✅ A current account
✅ A savings account
✅ UPI/GPay transactions

Common Misconception Among Proprietors

Many individual taxpayers (Proprietary Firms) believe that if they receive payments in a savings account, GST does not apply. However, this is a wrong assumption—GST is linked to your PAN and business transactions, not the type of account you use.

Key Takeaways

🔹 GST is PAN-based – It applies to all taxable supplies under your GST-registered business.
🔹 Account Type Doesn't Matter – Whether you receive payments in a savings account, current account, or UPI, GST compliance is mandatory.
🔹 Avoid Penalties – Non-compliance can lead to penalties, interest, and legal consequences.

Need Help with GST Filing & Compliance?

At Taxla Services, we offer expert tax guidance to help businesses stay GST-compliant and avoid penalties. Let us handle your GST worries while you focus on growing your business!

📞 Reach Us: +91 9600076134 / 6374812546
📧 Email: auditsiva2@gmail.com
🌐 Website: www.taxlaservices.com

#GSTRegistration #GSTReturns #GSTConsulting #TaxUpdates #TaxlaServices



Comments

Post a Comment

Popular posts from this blog

UPI Transactions Are Now Under GST Radar—Stay Compliant with Taxla Services

Image
Digital payments have revolutionized the way businesses operate, with platforms like GPay, PhonePe, Paytm , and others offering convenience and efficiency. However, with this convenience comes the responsibility of tax compliance. Recently, a merchant in Tamil Nadu faced a tax notice after their UPI transactions crossed the GST threshold of ₹20 lakhs in a financial year. Why Are UPI Transactions Being Monitored? The GST Department is closely monitoring digital payment platforms to ensure businesses comply with tax regulations. Transactions conducted via UPI are no longer immune to scrutiny. If your business turnover exceeds ₹20 lakhs (or ₹10 lakhs for specific categories), GST registration is mandatory —regardless of the payment method used. What Does This Mean for You? Unregistered Businesses: If you’re operating without GST registration but your annual turnover exceeds the threshold, you could face penalties and notices. Digital Payment Records: All UPI transactions are recorded an...
Read more

New Tax Rule Alert! – Tax Officials Can Access WhatsApp & Email During Searches

Image
The Government of India has introduced a significant provision under the New Income Tax Bill 2025 , granting tax officials the authority to access digital communication platforms like WhatsApp, email, and cloud storage apps during search and seizure operations . 📜 Key Provisions of the Rule: Expanded Access Rights Tax officials can now inspect your WhatsApp chats, email inbox, cloud storage files, and installed applications on your devices during income tax searches. This move aims to enhance investigation efficiency and curb tax evasion through digital means. Parliamentary Panel Approval A Parliamentary Standing Committee reviewed the clause and raised no objections in its official report dated 21 July 2025 . The inclusion of this clause highlights the government’s focus on modernizing enforcement by including digital evidence in tax cases. Applicable During Official IT Raids Access is permitted only during authorized searches under Section 132 of the...
Read more

🧾 TDS Payment (AO Permitted) – Due Date Alert!

Image
Deadline: 7th July 2025 | Period: April–June 2025 Tax deductors and businesses—this is a timely reminder! If you're permitted to deposit TDS quarterly by your Assessing Officer (AO) under certain provisions of the Income Tax Act, the due date for the April–June 2025 quarter is fast approaching. 🔍 What is AO-Permitted Quarterly TDS Payment? Under normal circumstances, TDS must be deposited monthly. However, specific deductors can obtain permission from the Assessing Officer (AO) to deposit TDS on a quarterly basis —typically to reduce compliance burden for eligible deductors. Quarterly TDS deposit is permitted under the following sections : Section 192 – Salary payments Section 194A – Interest (other than securities) Section 194D – Insurance commission Section 194H – Commission or brokerage If you have this quarterly permission , the due date for April to June 2025 TDS payment is: 🗓 7th July 2025 🚨 What Happens If You Miss the Deadline? Failure to...
Read more