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Owing to the second Covid-19, there has been a sharp slowdown in economic activity that has resulted in a fall in a one-year low of average daily e-way bills in the month of May. As per data released by Goods and Services Tax Network, 19.4 million e-way bills under GST have been generated on its […]
In yet another incident on Sunday, the Finance Minister Justified her perception on waiver of GST on Vaccines, COVID drugs, and Oxygen concentrators. She commented that GST exemption on Domestic Supplies of Vaccines Commercial Imports of Vaccines COVID Drugs Oxygen Concentrators would make the aforesaid items even costlier owing to the fact that manufactures would […]
According to the Limit in section 269ST of IT Act relaxed, from 01.04.2021 to 31.05.2021. PAN AADHAAR required the hospitals or medical facilities that are giving treatment to covid-19 patients can take cash payments exceeding Rs 3 lakh. Latest Update 01st January 2023 Co-operative societies and the definition of dealership/distributorship for the purposes of clause […]
On 3rd May 2021, the ministry of corporate affairs has provided 3 circulars so as to give relief due to covid from compliance beneath companies act 2013 towards ROC Form filings and holding of the board meetings. Circular 1: Maximum Gap Among Two Board Meetings In between the 2 board meetings the MCA has prolonged […]
The Central Board of Indirect Taxes and Customs (CBIC) on Monday declared “Ad hoc Exemption from IGST” of “imports of specified COVID-19 relief material” that is “donated from abroad”. However, CBIC has notified certain conditions for applicability of the aforesaid exemption. The first endeavour in providing an exemption shall be the appointment of a “nodal […]
During the second wave of the Corona pandemic, when more than 1 crore people in India have been caught by a deadly communicable Coronavirus disease, its high time for the Judiciary, Legislation, and Executive to take and implement apt decisions to control and cure such a common illness at the price (medical treatment) that can […]
During the second wave of Corona, offices are being shut down and production of goods and services has been significantly hit. However, Good news for corporate taxpayers facing trouble in filing returns. The Government of India has taken the initiative to grant relief in the way returns are filed. So there is no tax concession […]
The Federation of Trade Associations of Pune urged the Goods and Services Tax officials to ask for a postponement in tax furnishing due to the closing down of the shops as of the covid-19 restrictions. The Federation of Trade Associations of Pune (FTAP) also asks for relief from the average reading charged in the written […]
The Central Board of Direct Taxes (CBDT) has once again delayed the “Tax Audit Clause 30C and 44” till the date 31st Mar 2022 due to the pandemic COVID-19. For the fourth time, The CBDT has once again provided an extension to the aforesaid due date for filing Form 3CD. As per the Income Tax […]
