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Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021

Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021   Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of

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Big tax relief for homebuyers and real estate developers

Big tax relief for homebuyers and real estate developers The finance minister Smt. Nirmala Sitharaman on Thursday, 12th Nov. 2020, announced a big tax relief in the form of festival bonanza, for both homebuyers and real estate developers (builders). The purpose of these tax reliefs

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Pre-filled ITR forms

Pre-filled ITR forms are now going to be reality The Finance Minister, Nirmala Sitharaman office on Wednesday, tweeted that: "In order to make tax compliance more convenient, pre-filled Income tax Returns (ITR) have been provided to individual taxpayers. The ITR form now contains pre-filled details

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Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards

Auto-populated Form GSTR 3B (PDF) for the taxpayers, from the month of October 2020 onwards   GSTN has earlier introduced Form GSTR-2B, a static statement with details of ITC available for a tax period, for the benefit of taxpayers. GSTR-2B is an auto-drafted Input Tax Credit

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Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021

Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021   Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 12/11/2020 Government of India, Ministry of Finance (Department of Revenue),

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Scheme of monthly payment of GST with quarterly filling

Scheme of monthly payment of GST with quarterly filling CBEC-20/01/08/2020 -GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, dated the 10th November, 2020 To The Principal Chief Commissioners / Chief Commissioners

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Procedure of 35% payment of GST in first and second month

Procedure of 35% payment of GST in first and second month 1) If someone opts for filing on quarterly basis- He has to pay 35% of tax in the first month & 35% of tax in the second month & remaining in the third month

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Concept of Aggregate Turnover in GST

Concept of Aggregate Turnover in GST What is the meaning of “aggregate turnover”? As per GST Law “aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis),

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FAQ on Composition Scheme in GST

Q 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 1.50 crore in the preceding financial year (Rs. 75 lakhs in case of few States

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Composition Scheme in GST

Composition Scheme in GST  Composition Scheme is introduced in GST to give relief to small taxpayers so that they can get rid of tedious compliance of GST and can pay GST at a fixed percentage of turnover without charging the GST in each and every

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Corporate Laws & Corporate Governance Committee of ICAI Inviting suggestions for ease in operations of MCA-21 E Governance Portal

MCA21 is an e-Governance initiative of Ministry of Company Affairs (MCA), Government of India that enables access of the MCA services to the corporate entities, professionals and citizens of India. The Ministry of Corporate Affairs (MCA) has embarked on an initiative to build a new MCA21 v3 system

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Some Clarifications related with SUPPLY in GST

Some Clarifications related with SUPPLY in GST   GST liability is on all reverse charge supply having small amounts of Transaction or any amount limit is there? Rs. 5000/- per day exemption will be given in respect of supplies received from unregistered person. For supplies

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E-Stamping rules and rates for MCA / ROC forms

E-Stamping for MCA / ROC forms  Stamp Duty can be paid through MCA21 system for following forms / services: e-form SPICe (including MOA & AOA) Form SH-7 Form FC-1 To get certified true copy is also required to pay stamp duty through MCA21 portal. And

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PAN with new feature of QR code

New PAN cards issued are having enhanced QR (Quick Response) Code:  Specimen of the PAN Card as per new design is as under: New Features of new PAN Card: 1. Enhanced QR Code will contain following Information of PAN Card Holder:  Photograph & Signature

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Payment of TDS or TCS – Challan 281

Payment of TDS or TCS - Challan 281 To deposit TDS (Tax deducted at source) or TCS (Tax collected at source) Challan 281 is submitted which is also known as ITNS 28!.  You can submit this form online of you also submit this form physically

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Payment of Income Tax, Wealth Tax & Corporation Tax – Challan 280

Payment of Income Tax, Wealth Tax & Corporation Tax - Challan 280 To deposit Income Tax in the form of Advance Tax, Self-Assessment Tax and Regular Assessment Tax for Individual or corporate like company, partnership firm, LLP etc. Challan 280 is submitted which is also

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