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The union minister Nirmala Sitharaman has announced multiple relief packages to the industry and taxation sector in the view of coronavirus pandemic. Under the latest announcement, the union finance minister has relaxed due dates of income tax returns, goods, and services tax. Also, the ministry has offered help in the finance sector with relief packages. […]
The Central Board of Indirect Tax and Customs (CBIC) announced in an official notification stating that all the foreign airlines working in the country will be exempt from filing the Reconciliation Statement & Certification in form GSTR 9C to Central Goods and Services Tax Rules, 2017. Under section Section 44(2) of Goods and Services Tax […]
TDS Section 194J of the Income Tax Act 1961 includes provisions regarding the TDS deduction of fees for technical as well as professional services. We prepared this article to keep you up to date about the changes and to provide a complete overview of Section 194J under TDS. Here you will also get information about […]
The Corporate Laws & Corporate Governance Committee (CLCGS) of the Institute of Chartered Accountant of India (ICAI) issued a clarification in the form of FAQs for the Limited Liability Partnership (LLP) Settlement Scheme 2020 issued by the Ministry of Criminal Affairs (MCA). MCA had launched the LLP Settlement Scheme, 2020 as a step towards the […]
Amidst the degrading situation of the Indian economy caused due to the Corona Pandemic, several industries are looking forward to the Indian government to support the businesses that are constantly stumbling due to the ups and downs in the market. Several industries are seeking some sort of relief in payment policies of GST Check out […]
National Anti-Profiteering Authority (NAA) fined Baba Ramdev’s Patanjali Ayurved Ltd. a total of INR 75.08 crores for the company’s not transferring the benefits of reduction in the rates of Goods and Services Tax (GST). According to sources, the NAA said that the company increased the price of their washing powder even after the rates of […]
Finance Minister Nirmala Sitharaman, head of Goods and Services Tax (GST) Council, on Saturday announced that the GST Impact on mobile phones Grab the knowledge of GST (Goods and Services Tax) impact on mobile phone manufacturers in India. The experts’ opinion puts light on the major areas of affect. Read More will be increased from […]
Tax Evasion is still prevalent on a very large scale in India as taxpayers are now deemed to have given false information of sales in self-declared returns to escape tax levy. Mentioned under the provisions of GST, all e-commerce portals (except service based websites) are expected to get their businesses registered under GST Network. No […]
The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 has now been cleared from both the houses of Parliament. It was already cleared by the lower house of Parliament, Lok Sabha, earlier and was pending in the upper house of Parliament but now the Rajya Sabha has also cleared the bill with the majority. The […]
