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  • MF News MFDs earning less than Rs.20 lakh can file “NIL” returns through SMS

    MFDs earning less than Rs.20 lakh can file “NIL” returns through SMS

    Government rolls out facility of filing of nil GST return through SMS.
    Team Cafemutual Jun 10, 2020

    Distributors who have GST registration number and earn less than Rs.20 lakhs have an option to file ‘NIL’ GST returns through SMS.

    The government has allowed filing of nil GST monthly return in FORM GSTR-3B through SMS. The move would improve ease of GST compliance and reduce compliance burden for MF distributors who had to otherwise log into their account on the common portal and then file their returns every month.

    Distributors can send SMS to 14409 to file NIL GST returns.

    Here is the step-by-step process to avail this facility:

    • Initiate nil filing by sending SMS NIL<space>3B<space>GSTIN<space>Tax period (Ex. NIL 3B 09XXXXXXXXXXXZC 052020). Once you send the SMS, you will receive a code on your registered mobile number
    • Send this code again by writing CNF <space>3B<space>Code (Ex. CNF 3B 123456). On successful submission of NIL returns, you will receive an acknowledgment number through SMS
    • You can also send HELP<Space>3B (Ex. Help 3B) if you face any difficulty in filing NIL returns through SMS
    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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    5 Comments
    Varsha pandhi · 4 years ago `
    If any MFD is registered under GST then the exemption of basic Rs 20 lakhs is not available Nil return can be filed if there is no receipt/billing during the month.
    Mihir · 4 years ago
    Yes, the information is incorrect.
    Reply
    Pankaj Gupta · 4 years ago `
    FAQ's on GST Portal

    10

    Do I, a Mutual fund Distributor working in Delhi, need to register under GST, having income Less than Rs. 20 Lakhs but working for offices that are registered in Mumbai and have branch offices in Delhi?

    If you are supplying services to the branch office in the same State, it will be intra-State supply and you will not be liable for registration. If you are making inter-State supply, you will be liable for registration and benefit of threshold exemption would not be admissible.
    ARN · 4 years ago
    IF SERVICES ARE LESS THAN 20 LAKH ,NO NEED , YOU ARE EXEMPTED
    Reply
    Monik · 4 years ago `
    For example : So if I earn less then 20 lakh From mf in last financial year and other 5 lakh from insurance commission , so do I need to pay gst ?
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