Notification No. 38/2020 – Central Tax – Companies allowed to file GSTR 3B through EVC
The Central Board of Indirect Taxes and Customs (CBIC) has issued the notification in which the Companies are now allowed to file the GSTR 3B...
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Notification No. 37/2020-Central Tax – Seeks to give effect to the provisions of rule 87 (13) and FORM GST PMT-09 of the CGST Rules, 2017
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central...
MCA extends Period / Days of extension for names reserved and resubmission of forms
Amidst the lockdown in the country, the Ministry of Corporate Affairs has extended the time limit for names reserved and resubmission of forms....
Clarifications on provisions of the Direct Tax Vivad se Vishwas Act 2020
CBDT has released the clarification on various matters related to the applicability and procedures of the Scheme. To download the circular, click here circular no...
Relaxation to holding of AGMs by Companies whose FY has ended on 31st December 2019
The Ministry of Corporate Affairs (MCA) has notified the General Circular No. 18/2020 in which the relaxation has been given to the Companies whose Financial...
GST applicability on Remuneration to Directors
The Recent Advance Ruling Authority of Rajasthan in the case of Clay Crafts India Pvt. Limited decided that remuneration paid to director attracts GST under...
Residential status of Individual under the Income Tax Act as amended by Finance Act 2020
Introduction The Finance Act 2020 has amended the section 6 in which the new provision of Deemed resident has been inserted and certain provisions have...
CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19
In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the...
Government amends the extant FDI policy for curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic
The Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic...
Income tax refunds worth Rs. 5204 Crores issued in last 10 days : CBDT
The Central Board of Direct Taxes (CBDT) today said that Income tax refunds to nearly 8.2 lakh small businesses (proprietors, firms, corporate and trusts) worth...
RBI announces second set of measures to preserve financial stability
“…In the midst of death life persists, in the midst of untruth truth persists, in the midst of darkness light persists.” – Mahatma Gandhi, during his...
Committed to help GST taxpayers in COVID-19 situations: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) said that it is fully committed to help the GST taxpayers in the present COVID-19 situation....
Decoding Section 271AAD – Penalty for false entry etc. In Books of Accounts
In order to curb the practice of false entries on account of false invoices in order to save the tax by the taxpayer, the Finance...
MCA releases FAQs on Companies Fresh Start Scheme (CFSS), 2020 and LLP Modified Settlement Scheme, 2020
The Ministry of Corporate Affairs (MCA) has issued the FAQs on Companies Fresh Start Scheme, 2020 and LLP Modified Settlement Scheme, 2020. To download the...
Clarification in respect of option under section 115BAC of Income Tax Act
To download the circular, click here circular_c1_2020...
Special Refund and Drawback Disposal Drive – Implementation of decision to expedite pending refund and drawback claims
To download the Instruction, click here Instruction No 03 Customs refund...
Government decides to release Income Tax, GST and Custom refunds
IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately ; Around 14 lakh taxpayers to benefit All GST &...
Relaxation of provisions of Rule 36(4) vide Notification no. 30/2020 dated 03-04-2020
With effect from 09-10-2019, a new rule 36(4) has been introduced in which the new manner of the input tax credit utilisation has been notified...
ICAI releases Frequently Asked Questions on Company Fresh Start Scheme 2020
The Institute of Chartered Accountants of India (ICAI) has released the FAQs on the Company Fresh Start Scheme 2020 in which all the queries related...
ICAI releases Revised Frequently Asked Questions (FAQs) on LLP Settlement Scheme 2020
The Institute of Chartered Accountants of India (ICAI) has released the revised FAQs on the modified LLP settlement scheme in which the Institute has answered...