Extension of various due dates falling on 31st October 2020
The Ministry of Finance has extended various due dates falling on 31st October which are as follows:- Particulars Extended due date Tax Audit Report –...
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Recommendation of 42nd GST Council Meeting
The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The meeting...
CBIC extends due date for GSTR 9 and 9C for FY 2018-19
The Central Board of Indirect Taxes and Customs has extended the due date for filing the GSTR 9 and GSTR 9C for FY 2018-19 from...
MCA extends various deadlines till 31-12-2020
In view of the hardship being faced by the stakeholders, the Ministry of Corporate Affairs on 28th September 2020, has extended the various deadlines to...
Press release to clarify the Interest on Net tax liability under GST
CBIC has released the Press release amidst of the discussions going on regarding the applicability of the Notification No. 63/2020 – Central Tax. It has...
Interest in GST to be levied on Net Tax Liability w.e.f. 01-09-2020
On 25th August 2020, Central Board of Indirect Taxes and Customs (CBIC) has notified the Notification No. 63/2020 – Central Tax in which it has...
Extension of due date for filing Income tax return for AY 2019-20
The CBDT has issued the Notification No. 56/2020 in which it has been notified that the due date for filing the Income tax return for...
E-Invoicing under GST – A Step-wise Process Guide
e-Invoicing under GST is no longer a future in India but is gradually becoming the present with its implementation from the next quarter: October 2020....
One Time Verification Process of ITR V
Introduction In respect of an Income Tax Return filed electronically without a digital signature, the taxpayer is required to verify the same within the time...
All about Udyam Registration
ALL ABOUT THE UDYAM REGISTRATION In its continuous endeavour to strengthen the MSME sector, the Government of India has reclassified the definition of Micro, Small...
Notification No. 58/2020-Central Tax – Filing of Nil GSTR 3B and GSTR 1 through SMS
The CBIC has notified the Notification no. 58/2020- Central tax dated 1st July 2020 in which rule 67A has been notified which says about the...
Re-credit of GST late fee paid
The CBIC has clarified that those taxpayers who have paid the late fee in respect of the Returns which are due on 24th and 27th...
Notification No. 57/2020 – Lowering of GST late fee for GST filing upto July 2020
In order to provide the relief to the taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) has released the Notification No. 57/2020 –...
Extended due dates of GST Returns
Due dates of GSTR 1 Monthly filing – NN -53/2020-Central Tax Months Due dates March 2020 10th July 2020 April 2020 24th July 2020 May...
Instructions, Notifications and Removal of Difficulty order released on 24th June 2020 and 27th June
The Central Board of Indirect Taxes and Customs has issued various notifications and instructions to give effect to the provisions introduced in the Finance Act...
Extension of various dates under Income Tax Act and Benami Laws
The Ministry of Finance has released the press release in which the various dates falling under the Income Tax Act and Benami Laws have been...
Recommendations of 40th GST council related to Law & Procedure
On 12th June 2020, the Union Finance Minister Nirmala Sitharaman has hosted the 40th GST Council Meeting in which the following decisions has been taken:-...
CBIC issues clarification in respect of remuneration to Directors
CBIC has issued the clarification in respect of Director remuneration vide Circular No. 140/10/2020 where it has been clarified :- a. In the matter of...
Circular No. 139/09/2020 – Clarification on Refund related issues
In the Circular No. 125/44/2019, it has been clarified that the refund shall be granted even for those invoices which are not being reflected in...
Government rolls out facility of filing of NIL GST Return through SMS
Today, the Ministry of Finance has released the press release in which it has been stated that now the taxpayers can file their Nil GSTR...
ICAI releases Handbooks on GST
The Institute of Chartered Accountants of India (ICAI) has released the Handbooks on the following topics:- Handbook on Advance Ruling under GST – Click here...
Income Tax Department notifies Income Tax Forms for AY 2020-21
The Income Tax Department has notified the Income tax forms i.e. ITR 1 to ITR 7 for AY 2020-21. To view and download the Income...
Form 26AS amended notified vide Notification No. 30/2020
Section 285BB has been amended and a new rule 114 I has been inserted which states that the following information should be shown in the...
Reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS)
In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, the rates...
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