The CBIC has provided One time relaxation in implementation of e-Invoicing Provisions for the month of October, 2020 vide Press Release dated 30/09/2020. It has been decided that the invoices issued by such taxpa...
The CBIC vide 70/2020-Central Tax dated 30/09/2020 has notified the Goods and Service Tax(GST) e-invoicing is applicable if the turnover is more than 500 crores in any of the last three Financial Years. The CBIC als...
CBDT has issued press note clarifying doubts arising on the applicability of TCS provisions introduced vide Finance Act, 2020. Key Points of the Press Release are as follows: TCS to be applied only in cases...
CBDT has issued Guidelines under section 194-0 (4) and section 206C (1-1) of the Income-tax Act, 1961 vide Circular No. 17/2020 dated 29/09/2020.The following Circular deals with the applicability of transactions ca...
CBDT has issued clarification that there is no requirement of scrip wise reporting for day trading and short-term sale or purchase of listed shares. In a Press Release released on 26/09/2020, CBDT stated that the...
The Central Board of Indirect Taxes and Customs ( CBIC ) has issued an advisory on change in navigation of the Comparison of liability declared and ITC claimed the report. Shifting of navigation of “Comparison ...
THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) BILL, 2020 has created a lot of confusion regarding due dates of filing Income tax Returns for FY 2019-20 and FY 2020-21 and few other due...
The Central Board of Indirect Taxes and Customs (CBIC) waived off the late fee payable for failure to furnish the return in FORM GSTR-4 and FORM GSTR-10. Late filling fees in case of delayed filing of GSTR-4 ...
The Lok Sabha on September 19 passed the Companies (Amendment) Bill to amend some 48 sections of the Companies Act, 2013 to decriminalise various offences and promote ease of doing business in India. The proposed amen...
In a bid to assist taxpayers, the Goods & Service Tax Network (GSTN) has enabled the Reconciliation Tool for matching GSTR-2B (Auto-Drafted ITC Statement) with Purchase Register. The Matching Offline Tool ca...
