Covid-19 Reliefs for MSMEs – Big Announcement

Finance Minister Nirmala Sitharaman on Wednesday made six big announcements for the micro, small and medium industries (MSME) sector, while giving details of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi. Under this, the first announcement was for a Rs 3 lakh crore collateral-free automatic loan for MSME, cottage and home … Read more

TDS, IT Return & Other Tax Reliefs Announcments Due to Covid-19

The last date to file income tax returns for the financial year 2019-20 has been extended till November 30. Apart from this, it has been announced to give the benefit of 25% reduction in TDS and TCS rate to non-salaried people. Finance Minister Nirmala Sitharaman, while giving information about the first installment of the Rs … Read more

TAX Audit Report Due Date Extended upto 31 Oct 2019 for A.y. 2019-20

Central Board of Direct Taxes (CBDT) has extended the due date for filing Income Tax Return along with Audit Report from 30th September 2019 to 31st October 2019 for A.Y. 2019-20. This date extension is for all corporate assessee and whose accounts are required to be audited. CBDT will publish notification later on. We will … Read more

Last Date to File GSTR9/9A/9C Extended till 30 Nov 2019

Central Board of Indirect Taxes and Customs (CBIC) has extended the last date to file GST Annual Return (GSTR 9/9A/9C) up to 30th November 2019. First, the last date to file GST annual return was 31st August 2019. The remove of difficulty order No. 07/2019 has been published by CBIC on 26th August 2019. CGST … Read more

Govt Clarifies Issues Related to Annual Return GSTR-9/9A/9C

Government has issued a press release for clarification to file GSTR-9/9A/9C (GST Annual Return). You can download the press release in PDF format or view online as given below. Press Release – Clarification regarding Annual Returns and Reconciliation Statement – Download PDF Government of India Ministry of Finance Department of Revenue Central Board of Indirect … Read more

CBIC Extends due date for GSTR 7 upto 31-08-2019 for Oct 18 to July 19

Central Board of Indirect Taxes and Customs has extended the last date to file GST TDS Return (Form GSTR 7) up to 31st August 2019. The extended date is for the period from October 2018 to July 2019. CGST Notification No.26/2019 Dated 28-06-2019 – PDF Format –  Download Here G.S.R. (E).- In exercise of the … Read more

35th GST Council Meeting Highlights

35th GST Council Meeting Highlights 1. GST Annual Return due date extended till from 30th June to 31st August 2019 for FY 2017-18 2. Aadhar-enabled GST Registration introduced 3. NAA tenure extended by 2 years 4. 10% penalty to apply for any delay in depositing profiteered amount 5. E-invoicing to apply to start from January … Read more

CBIC Press Release About New GST Return System

CBIC Press Release dt. 11 June 2019 1. The GST Council in its 31st meeting decided that a new GST return system will be introduced to facilitate taxpayers. In order to ease transition to the new return system, a transition plan has been worked out. The details of the indicative transition plan are as follows:- … Read more

CBDT Extends Due Date of Salary TDS Return (Form 24Q & Form 16)

Central Board of Direct Taxes (CBDT) has extended the last date to file Form 24Q (Salary TDS Return) for 4th quarter of F.Y.2018-19. The due date has extended up to 30th June 2019 from 31st May 2019. The due date has also extenedfor issue of salary TDS Certificate (Form 16) from 15th June 2019 to … Read more

Decisions by GST Council in the 34th meeting held on 19 Mar 2019

GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than affordable house. The council … Read more

CBIC Extends Due Date to File GSTR-9, GSTR-9A & GSTR-9C upto 31-03-2019

Press Release – 7th December, 2018  – Extension of due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C FORM GSTR-9 and FORM GSTR-9A have been notified vide notification No. 39/2018-Central Tax, dated 04.09.2018 while FORM GSTR-9C has been notified vide notification no. 49/2018-Central Tax, dated 13.09.2018 as part of the CGST Rules. The … Read more

PRESS RELEASE – 03 December 2018 – Status of GST Refunds

PRESS RELEASE – 03 December 2018  – Status of GST Refunds Total GST refunds to the tune of Rs 91,149 crores have been disposed by CBIC and State authorities out of the total refund claims of Rs 97,202 crores received so far. Thus, the disposal rate of 93.77 per cent has been achieved. The pending … Read more

GSTP Examination rescheduled to 17th December 2018

GSTP Examination rescheduled to 17th December 2018 in view of assembly elections on 7th December, 2018. Press Release Examination for Confirmation of Enrollment of GST Practitioners Reference is invited to Press Release dated 01-11-2018 regarding exam for GST Practitioners scheduled on 07-12-2018. On account of Assembly Election in some of the states on 07-12-2018, the … Read more

CBDT Releases Direct Tax Statistics

Constant growth in direct tax-GDP ratio over last three years Growth of more than 80% in the number of returns filed in the last four financial years Number of persons filing return of income has also increased by about 65% during this period from 3.31 crore in FY 2013-14 to 5.44 crore in FY 2017-18 … Read more

ICAI Representation Permitting Availment of ITC under GST for F.Y.2017-18 till 31-12-2018

Request for Permitting Availment of Input Tax Credit under GST Pertaining to Financial Year 2017-18 till 31st December 2018. The  Institute  of  Chartered  Accountants of  India  (ICAI)  has  been   proactively supporting   the   Government  by    providing   suggestions  at   each   stages   of development, creating awareness  and  disseminating knowledge of GST among various stakeholders. We are  writing  this … Read more

Press Release for Quarterly Return by Composition Dealers in FORM GSTR-4

Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4 It has been brought to notice that doubts regarding the manner of filing the quarterly return by Composition Dealers in FORM GSTR-4 in the absence of auto-population of the details of inward supplies (other than supplies attracting reverse charge) received from registered … Read more