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LATEST GST UPDATE

GST Updates : 28-01-2021
Delhi HC Directed the Authority to Accept the Petitioner’s Form SVLDRS-I and Process the Same Under Section 126 Director’s Remuneration
Form GSTR-9 – Annual Return & Its Auditing
Part / Table wise Reporting in Annual Return This form was divided in to 6 Parts and tax payers were
Excise Officers Among Six Arrested in GST Evasion Racket in Punjab
Punjab Vigilance Department on Friday claimed it has unearthed a massive tax evasion and drugs smuggling racket where a number
FAQ’s on GST E-invoice
GSTN website has FAQ’s uploaded on E-invoicing. Among other clarifications, the FAQ seems to suggest businesses >500 crores need  QR
Businesses registering under GST can opt for Aadhaar authentication
Notification No. 62/2020 Dated 20.08.2020 Businesses registering under GST can opt for Aadhaar authentication, in absence of which registration would
Aadhar Authentication in GST Registration
Aadhaar Authenticatiobn process has been introduced Persons applying for GST registration as Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service
GST LEGAL UPDATES
CA in Jail for GST Registrations Done for Alleged Fraudulent Firms The petitioner submits that the petitioner is facing incarceration
Glitch in GST Portal Fixed, Taxpayers Can File for Refunds
Ludhiana: A day after TOI reported how assessees and tax professionals were unable to access the GST data for the
COMPOSITION SCHEME for service providers
Conditions for COMPOSITION SCHEME for service providers  Registered person whose aggregate turnover in preceding FY is upto Rs. 50

LATEST INCOME TAX UPDATE

Double Rate of TDS or TCS for Non-filers of ITR
Section 206AB and 206CCA of the Income-tax Act, 1961 (effective from 1st July 2021) A new category of “Specified Persons”
How to check whether a person is filing ITR or not for TDS or TCS deduction
  How to check whether a person is filing ITR or not ? Background Via Finance Act 2021, Section 206AB
Now Income Tax Refund Tracking becomes very easy
Direct link to track ITR refund : https://tin.tin.nsdl.com/oltas/refund-status-pan.html Refund Banker scheme he ‘Refund Banker scheme’ facilitates transmission of refunds generated
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

COMPANY LAWS UPDATES

Minimum Public Shareholding norms by SEBI under Corporate Insolvency Resolution Process

Minimum Public Shareholding norms by SEBI under Corporate Insolvency Resolution Process

SEBI has released a Consultation Paper on Recalibration of the threshold for Minimum Public Shareholding norms, enhanced disclosures in Corporate...
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NCLT has extended the date of hearing

NCLT has extended the date of hearing

The NCLT has further notified that the Regular Proceedings at NCLT shall now start from 07-09-2020 instead of 20-08-2020  ...
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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

Government announces inclusion of Retail and Wholesale trades as MSMEs

Government announces inclusion of Retail and Wholesale trades as MSMEs

Retail and wholesale trade were left out of the ambit of MSME. Under the revised guidelines, MSME has issued order...
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RBI has amended Foreign Exchange Management (Export and Import of Currency) Regulations, 2015

RBI has amended Foreign Exchange Management (Export and Import of Currency) Regulations, 2015

The Reserve Bank of India has issued the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020 to...
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FSSAI has issued the Standard Operating Procedures for refund

FSSAI has issued the Standard Operating Procedures for refund

The Food Safety and Standards Authority of India (FSSAI) has issued the Standard Operating Procedures for applying and processing of...
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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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