"12 December 2019" Archive

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019- CBIC clarifies 9 Issues

Circular No. 1074/07/2019-CX (12/12/2019)

Section 124(2) provides for adjustment of any amount paid as pre-deposit at any stage of appellate proceedings or as deposit during enquiry, investigation or audit. However, an amount paid after issuance of show cause notice but before adjudication are not mentioned therein....

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National Savings Time Deposit Scheme, 2019

Notification No. G.S.R. 922(E) (12/12/2019)

There shall be four categories of time deposit accounts, namely, One-year account, Two-year account, Three-year account and Five-year account in which a deposit may be made for a period of one year, two years, three years and five years respectively....

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Post Office Savings Account Scheme, 2019

Notification No. G.S.R. 921(E) (12/12/2019)

An account under Post Office Savings Account Scheme, 2019 may be opened by making an application in Form-1 by the following- a single adult, two adults jointly, a guardian on behalf of a minor, a guardian on behalf of a person of unsound mind, a minor who has attained the age of ten years, in his own name....

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Kisan Vikas Patra Scheme, 2019

Notification No.G.S.R. 920(E) (12/12/2019)

Government notifies vide notification No. G.S.R. 920(E), new Kisan Vikas Patra Scheme, 2019 which comes into effect from 12th December 2019. Full text of ‘Kisan Vikas Patra Scheme, 2019’ Notification is as follows:- MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th December, 2019 G.S.R. 920(...

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National Savings Certificates (VIII Issue) Scheme, 2019

Notification No. G.S.R. 919(E) (12/12/2019)

On an application to accounts office in Form-1, following types of accounts can be opened under National Savings Certificates (VIII Issue) Scheme, 2019 namely- (a) Single Holder Type Account; (b) Joint A- Type Account; and (c) Joint B - Type Account....

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National Savings Recurring Deposit Scheme, 2019

Notification No. G.S.R. 918(E) (12/12/2019)

On an application in Form-1 to the accounts office, an account under National Savings Recurring Deposit Scheme, 2019 may be opened by-(a) a single adult; or (b) upto three adults jointly; (c) a guardian on behalf of a minor or a person of unsound mind; or (d) a minor who has attained the age of ten years, in his own name....

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National Savings (Monthly Income Account) Scheme, 2019

Notification No. G.S.R. 917(E) (12/12/2019)

The account under National Savings (Monthly Income Account) Scheme, 2019 may be opened by making an application in Form-1 by-(i) a single adult; (ii) upto a maximum of three adults in joint names; (iii) a minor who has attained the age of ten years; (iv) a guardian on behalf of a minor or a person of unsound mind....

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Overview on GSTR-9

GSTR-9 It is an annual return which is to be filled by every registered person. It consists of Every transaction of particular financial year whether the transaction is related to supply made or received during the year under different tax heads like CGST, SGST & IGST. GSTR-9 is to be optional for the business whose […]...

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Posted Under: Income Tax |

Senior Citizens’ Savings Scheme, 2019

Notification No. G.S.R. 916(E) (12/12/2019)

An individual fulfilling the following conditions may open Senior Citizens’ Savings Scheme account by making an application in Form-1 to the accounts office (i) who has attained the age of sixty years on the date of opening of the account; or...

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New GST Return Filing System Comes As Challenges for Taxpayers

In 27th GST Council Meeting, the Panel announced the implementation of a new GST return format which is believed to be a much simpler version of the current GST return. This new GST returns policy is scheduled to commence from April 2020 which aims at eradicating the flaws of the prevailing GST filing system making […]...

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Posted Under: Income Tax |