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Archive: 30 September 2020

Posts in 30 September 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6999 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

CBIC extends exemption on 2 type of transportation Services

September 30, 2020 16071 Views 0 comment Print

CBIC extends exemptions on supply Services by way of transportation of goods by an aircraft from customs station of clearance in India to a place outside India and Services by way of transportation of goods by a vessel from customs station of clearance in India to a place outside India under CGST Act till 30th […]

Relaxation in E-Invoice Provisions Implementation for Oct 2020

September 30, 2020 11658 Views 0 comment Print

The Government had in December 2019 prescribed that the GST Taxpayers having aggregate annual turnover more than Rs. 100 crores in any preceding Financial Year will be required to issue e-invoice for all the Business to Business (B2B) supplies, in the manner prescribed under rule 48(4) of the CGST Rules, 2017 w.e.f. 1st April 2020.

GST E-Invoice- CBDT amends rules related to IRN & QR Code

September 30, 2020 6582 Views 0 comment Print

Quick Reference code, having embedded Invoice Reference Number (IRN) in it, in case invoice has been issued in the manner prescribed under sub-rule (4) of rule 48.

Dynamic QR Code on B2C invoices requirement deferred to 01.12.2020

September 30, 2020 17664 Views 2 comments Print

Implementation of requirement of Dynamic QR Code on B2C invoices deferred to 1st December 2020. Notification 71/2020-Central Tax dated 30.09.2020 issued. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 71/2020–Central Tax New Delhi, the 30th September, 2020 G.S.R. 602(E).—In exercise of the powers conferred by sixth proviso to […]

GST Case Law Updates – September 2020

September 30, 2020 39405 Views 2 comments Print

1. Is the recipient eligible to claim a refund? Whether the refund of the unutilized ITC in the e-credit ledger be claimed? In the case of M/s Britannia Industries Limited Vs Union of India (Gujarat High Court) the assessee is an SEZ unit being an exporter has procured the goods and services with payment of […]

CBIC extends UTT exemption on 2 type of transportation Services

September 30, 2020 798 Views 0 comment Print

Notification No. 04/2020 – Union Territory Tax (Rate)– dated 30th September, 2020- CBIC extends exemptions on supply Services by way of transportation of goods by an aircraft from customs station of clearance in India to a place outside India and Services by way of transportation of goods by a vessel from customs station of clearance […]

CBIC extends IGST exemption on 2 type of transportation Services

September 30, 2020 3633 Views 0 comment Print

Notification No. 04/2020 – Integrated  Tax (Rate)– dated 30th September, 2020- CBIC extends exemptions on supply Services by way of transportation of goods by an aircraft from customs station of clearance in India to a place outside India and Services by way of transportation of goods by a vessel from customs station of clearance in […]

Detection of substantial unaccounted cash & other valuables during surveys under section 133A of Income Tax Act, 1961

September 30, 2020 2073 Views 0 comment Print

Instances have come to the notice of CBDT where despite detection of considerable unaccounted cash and other valuables during the course of survey under section 133A of the Income Tax Act, 1961, Investigation Directorate concerned was not informed to consider appropriate action as per the provisions of section 132 of the Act.

Checklist for DPT 3

September 30, 2020 5673 Views 0 comment Print

Checklist for DPT 3 so that the same is easily available to get the required details from the Finance Team. Checklist for DPT 3 contains the following detail format- -Net Worth as per the latest audited balance sheet preceding the date of the return as on 31.03.2020 -Particulars of charge as on 31.03.2020 -Particulars of […]

CBDT clarifies doubts on account of new TCS provisions

September 30, 2020 46347 Views 10 comments Print

Finance Act, 2020 amended provisions relating to TCS with effect from 1st October, 2020 to provide that seller of goods shall collect tax @ 0.1 per cent (0.075% up to 31.03.2021) if the receipt of sale consideration from a buyer exceeds Rs. 50 lakh in the financial year.

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