"11 February 2021" Archive

Union Budget 2021 – Important changes proposed in GST & Customs

The GST is now almost 4 years old, has its own highs and lows in terms of practicality. With the intent of easing compliances, the GST council has brought up several measures to streamline and simplify the compliances in the past. Such measures include the nil return through SMS, QRMP (Quarterly returns and monthly payment scheme) for sma...

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Due date of filing Form GSTR-3B, from January, 2021, onwards

Due dates for filing of Form GSTR-3B from the Tax Period of January, 2020 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No 82/2020 – Central Tax, dated 10th Nov., 2020, has revised Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of […]...

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Producer Companies Rules, 2021

Notification No. G.S.R. 112(E) (11/02/2021)

MCA notifies Producer Companies Rules, 2021 in supersession of the Producer Companies (General Reserve) Rules, 2003. new rules defines the term ‘co-operative society’ for the purpose of this rule. New rule specifies Rules for Change of place of registered office from one State to another of Producer Companies and Investment of...

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Income Tax Department searches ‘Liquor group’ in Bengaluru

The Income Tax Department carried out search and seizure operation on a major liquor manufacturer group based in Bengaluru on 09.02.2021 at 26 different locations across India....

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CARO 2020 not applicable for May 2021 CA Examinations

Companies (Auditor’s Report) Order, 2020 is not applicable for the IPCC, Intermediate, Final (Old) and Final (New) examinations to be held in May 2021....

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Requirement of structured database under SEBI Insider Trading Regulations

Requirement of structured database under Regulation 3 ofSEBI (Prohibition of Insider Trading Regulations) 2015. W.e.f. 01st April 2019 it is mandated that under Regulation 3(5) of the SEBI PIT Regulations a structured database has to be maintained by the listed entity. As per Regulation 3 an unpublished price sensitive information may be ...

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Popular TDS/TCS Sections & Rates Applicable for FY 2021-22

Article explains Popular TDS/ TCS Sections and Rates as applicable for Financial Year (FY) 2021-22. From 01st April 2021 TDS/TCS Rates will be normal and Concessional rate will not be applicable. TDS RATES APPLICABLE FOR FINANCIAL YEAR 2021-22 Section Section Name Applicable To Limit TDS Rate 194 Dividend All Companies 5000 10% 194A Inter...

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GST: Writ petition not maintainable if petitioner got alternative efficacious remedy of appeal

Tata Steel Bsl Ltd Vs Union of India ((Orissa High Court)

Tata Steel Bsl Ltd Vs Union of India (Orissa High Court) Mr. S. Mishra, learned Standing Counsel on behalf of the opposite parties-Revenue submits that the present writ petition is not maintainable as the petitioner has got an alternative efficacious remedy of appeal under Section 107 of the CGST Act, against the impugned order under [&he...

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Schemes for supporting Traders

Release ID: 1697016 (11//0/2/20)

Ministry of Labour & Employment has launched 'National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons' on 12.09.2019. It is a voluntary and contributory pension scheme. Enrolment to the scheme is done through the Common Service Centres with its network of 3.50 lakh Centres across the country....

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SOP for implementation of provision of suspension of GST registrations

Circular No. 145/01/2021-GST (11/02/2021)

Standard Operating Procedure (SOP) for implementation of the provision of suspension of registrations under sub-rule (2A) of rule 21A of CGST Rules, 2017 –...

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