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LATEST GST UPDATE

Extension of Date for Claiming Tax Credit: HC Asks Commissioner to Refer Issue to GST Council
The Chhattisgarh High Court has asked the local GST Commissioner to refer the matter of granting more time to file
Land Given on Lease for 99 Years for Residential Development by Statutory Body is Leviable to GST Under RCM: RJ
IN RE :RAJ-AAR-05-20-21 Dated 30.06.2020 Where applicant receives a parcel of land on lease for a period of 99 years
GST case laws updates
1. ‘Psyllium Husk Powder’ is Taxed @ 5% and Classified Under Tariff Item 12119032 Psyllium Husk Powder, a preparation made from
Govt Dumps New GST Return System; to Continue With Modified Version of Existing One
The GST Network, the IT support of the GST regime, is working on modifying and improving the current returns and
GST E-invoicing for Businesses With Rs 500-Cr. Turnover From Oct 1
The e-invoice was aimed at curbing GST evasion through issue of fake invoices. Besides, it would make the returns filing
GST, Income Tax Data May be Matched to Check Tax Evasion; Direct, Indirect Tax Departments Join Hands
With the MoU signed between the CBDT and the CBIC, the government bodies can exchange information on request and a
Meaning Of Supply Under GST
What is the meaning of Supply under GST ? In this video we have discussed the meaning of supply under
Late fee capped at Rs. 500/- for each GSTR-3B Return : Press Release
Press Release : Late fee capped at Rs. 500/- for each GSTR-3B Return. @nsitharaman @nsitharamanoffc @FinMinIndia @ianuragthakur pic.twitter.com/jnxHpVB11E — CBIC
CBIC issued 58/2020-Central Tax dated 01.07.2020
Seeks to make eighth amendment (2020) to CGST Rules Government of India Ministry of Finance (Department of Revenue) Central Board

LATEST INCOME TAX UPDATE

Memorandum of Understanding(MoU) between CBDT and MoMSME signed today
The MoU will facilitate the seamless sharing of certain Income-tax Return (ITR) related information by the Income Tax Department to
PAN Card पर लिखे नंबर और अल्फाबेट में छिपी होती हैं कई जानकारियां, यहां जानें उनका मतलब
PAN Card का 10वां डिजिट भी अंग्रेजी का एक अक्षर होता है। इनकम टैक्स डिपार्टमेंट के मुताबिक यह एक अल्फाबेट
PAN से जुड़ा ये काम 7 दिन में निपटा लें, वरना 10 हजार का जुर्माना देने के लिए तैयार रहें
बहुत से लोग हैं, जिन्होंने अभी तक अपने पैन कार्ड (PAN Card) को आधार (Aadhaar Card) से लिंक नहीं किया
List of Direct-tax measures announced by the Finance Minister
The Finance Minister, Smt. Nirmala Sitharaman has addressed a press conference on May 13, 2020 to share the details of
Clarification in respect of residency under section 6 of the Income-tax Act,1961
Residence in India. 6. For the purposes of this Act,— (1) An individual is said to be resident in India in
Trust for Ayodhya temple gets special I-T exemption
The exemption under Section 80G is not available to all religious trusts. A charitable or religious trust has to first
CBDT orders tax officials to not issue scrutiny notices to taxpayers
After rejecting “ill-conceived” suggestions by a group of Indian Revenue Services (IRS) officers, the Central Board of Direct Taxes (CBDT)
Earn more and save income tax under these post office saving schemes 
India Post, which runs the postal network in the country, offers nine types of saving schemes. Investment in some of

COMPANY LAWS UPDATES

Circular on Transaction in Corporate Bonds/Commercial Papers through RFQ platform and enhancing transparency pertaining to debt schemes

Circular on Transaction in Corporate Bonds/Commercial Papers through RFQ platform and enhancing transparency pertaining to debt schemes

To enhance the transparency, additional guidelines have been provided which includes Mutual funds shall take at least 10 percent of their...
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Filling of NFRA 2 for the FY 18-19 extended from  to June 26, 2020

Filling of NFRA 2 for the FY 18-19 extended from to June 26, 2020

MCA vide Circular dated April 30, 2020 extended last date of filling NFRA 2 for the financial year 2018-19 from...
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Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013

In continuation of the earlier Circular (General Circular Number 14/2020) issued by the Ministry of Corporate Affairs (MCA) on 8th April,...
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LATEST OTHER UPDATES

Lockdown 4.0: States freed to fix zones, make everyday life easier

Lockdown 4.0: States freed to fix zones, make everyday life easier

NEW DELHI: In the most significant easing of the national lockdown yet, the Centre gave states considerable leeway in reopening...
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Finance Minister measures for relief and credit support related to o businesses, especially MSMEs

Finance Minister measures for relief and credit support related to o businesses, especially MSMEs

Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against...
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Self-Reliant India Movement : Prime Minister’s Vision

Self-Reliant India Movement : Prime Minister’s Vision

Call for आत्मनिर्भर भारत or Self-Reliant India Movement • Five pillars of Atmanirbhar Bharat – Economy, Infrastructure, System, Vibrant Demography...
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Webinar on Art Of Leadership : Free

Webinar on Art Of Leadership : Free

Webinar on Árt Of Leadership By CA Tanushree Agrawal Date : 13 May Time : 04 PM NO CHARGE Click...
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ICAI Advisory for Bank Auditors while conducting Distance Audit / Remote Audit / Online Audit of Bank

ICAI Advisory for Bank Auditors while conducting Distance Audit / Remote Audit / Online Audit of Bank

Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation Dear...
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“Going Concern” – Key Considerations for Auditors amid COVID-19

“Going Concern” – Key Considerations for Auditors amid COVID-19

ICAI vide announcement dated May 10, 2020 issued Auditing Guidance on “Going Concern- Key Consideration for Auditors amid COVID-19”. Key...
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List of Trains proposed to be introduced as special trains

List of Trains proposed to be introduced as special trains

New Delhi: After weeks of suspension of passenger train services due to coronavirus lockdown, the Railways is set to resume limited...
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Workers refusing to rejoin factories may face action

Workers refusing to rejoin factories may face action

Efforts to bring back staff may include persuasion, pay cuts & disciplinary action. Gujarat, Madhya Pradesh and Uttar Pradesh have...
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