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Archive: 22 December 2020

Posts in 22 December 2020

Avoid these small mistakes while filling up your ITR form

December 22, 2020 11523 Views 4 comments Print

As the extended deadline of filing Income Tax Return (ITR) for the financial year 2019-2020 i.e. assessment year 2020-2021, is fast approaching, I wish to point out certain common mistakes which you need to avoid while filling up ITR forms specially who those who file it themselves. Update your basic contact details The income tax […]

Mandatory to upload SCN on website, mere e-mail to taxpayer not sufficient

December 22, 2020 6486 Views 0 comment Print

Madhya Pradesh High Court held that statutory procedure prescribed for communicating show-cause notice or order under Rule 142(1) of CGST Rules is required to be followed mandatorily by the revenue, which prescribes the manner to upload the SCN on website. Thus, a mere e-mail of SCN to the taxpayer would not suffice. Upload of such notices on the website of the revenue is mandatory.

Income Tax Jurisdiction Order No. 3/2020, Dated: 22.12.2020

December 22, 2020 6915 Views 0 comment Print

Jurisdiction Order No. 3/2020 In exercise of powers conferred by the Central Board of Direct Taxes (CBDT) under the sub section (1) and (2) of section 120 of the Income-tax Act, 1961 read with section 178 of the Finance Act 2016

Exit through Self-authorization by e-NPS subscribers

December 22, 2020 804 Views 0 comment Print

It has now been decided by PFRDA to make the exit process more agile and seamless by extending the off line Aadhaar for the purpose of self-authorizing the exit requests of e NPS Under the process, the eNPS Subscribers with a corpus up to Rs. 10 lacs (Rupees Ten Lacs) in their NPS Accounts can furnish their off line Aadhaar details for the purpose of exit, in compliance with PFRDA’s exit regulations.

Extend due dates of GSTR-9/GSTR-9C for FY 2018-19 & 2019-20

December 22, 2020 238026 Views 14 comments Print

Tax Bar Association, Guwahati has made a Request for Extension of Due Dates for filing the GST Annual Reconciliation Statement (GSTR-9C) along with the GST Annual Return (GSTR-9) for financial years 2018-2019 & 2019-2020. They requested to Smt. Nirmala Sitharaman, Hon. Finance Minister of India to extend the due dates of furnishing of Annual Return […]

Refund cannot be denied of Service Tax Deposited mistakenly

December 22, 2020 891 Views 0 comment Print

Metlife Global Operations Support Center Private Limited Vs Commissioner, Service Tax (CESTAT Delhi) The substantive benefit of service tax exemption provided under section 26 of the SEZ Act read with rule 31 of the SEZ Rules cannot be denied on procedural grounds. It is not in dispute that the appellant was not required to deposit […]

Quarterly Return Monthly Payment Scheme (QRMP)- New Facelift

December 22, 2020 4461 Views 1 comment Print

The Central Board of Indirect Taxes & Customs (CBIC) vide Circular No. 143/13/2020- GST dated 10th November 2020 introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help small taxpayers whose turnover is less than Rs.5 crores. This is a welcome step towards the goal of […]

‘Auto Population in GST- a boon or a bane?’

December 22, 2020 3642 Views 0 comment Print

Auto Populated details in Form GSTR 3B: Now, auto-population of system computed details in Form GSTR-3B, has been enabled for taxpayers (filing their Form GSTR-1 on monthly basis), from November 2020 Tax Period onwards.

Quarterly Return & Monthly Payments (QRMP) Scheme- Various aspect

December 22, 2020 65097 Views 34 comments Print

Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme under GST: Quarterly Returns with Monthly Payment (QRMP) Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns on quarterly basis, while paying their tax dues on monthly basis through a challan. In this case payment of challan in cash is […]

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December 2020