"27 April 2021" Archive

GSTR-3B & GSTR-1/ IFF, using EVC enabled for companies

Notification No. 07/2021–Central Tax 27/04/2021

The facility of filing GSTR-3B and GSTR-1/ IFF, using EVC instead of DSC, for companies has been provided vide Notification No. 07/2021- Central Tax dated 27.04.2021 for period upto 31.05.2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 27th April, 2021 Notification No. 07/2021...

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Amendments in CGST & IGST Act 2017 by Finance Act, 2021

AMENDMENTS IN CENTRAL GOODS AND SERVICE TAX ACT, 2017,INTEGRATED GOODS AND SERVICE TAX ACT, 2017 AND AND CENTRAL SALES TAX  ACT BY THE FINANCE ACT 2021. The Finance Act 2021 has been passed by both the houses of parliament and the President has given assent on 29.3.2021. The Finance Act 2021 has amended the CGST […]...

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Bring Amnesty Scheme for Pre & Post GST Transactions

Tax Consultants & Practitioners Association of Kerala has written a letter to Finance Minister of India and requested to provide relaxations in certain areas of GST which includes relaxation in Monthly and Year GST returns and Payments. Relaxation is requested with reference to GST Returns i.e. GSTR-1, GSTR-3B, GSTR-9, GStR-9C and GST...

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Government extends time for payment under VSV to 30.06.2021

Notification No. 39/2021-Income Tax/S.O. 1704(E) 27/04/2021

Government extends time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, to 30th June, 2021 vide Notification No. 39/2021-Income Tax, Dated: 27th April, 2021. Also Read: Government extends timelines for Income Tax Assessment (Read Notification) MINISTRY OF FINANCE (Department of ...

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Government extends timelines for Income Tax Assessment (Read Notification)

Notification No. 38/2021-Income Tax/S.O. 1703(E) 27/04/2021

Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-...

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Hostel services along with food, gym, TV etc classified as mixed supply

The provision of hostel accommodation along with food facility, Play Room, Gym, Housekeeping, Room Cleaning to the students wherein consolidated amount is charged from the students is Mixed Supply....

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GST Implication on Lease & Sale of Motor Vehicles

GST law provide two event i.e. Taxable event & Charging Event, Taxable event in GST is supply of goods or service or both whereas Charging event in GST is time of supply i.e. At what time GST liability is to be paid. GST will be payable on every supply of goods or services or both unless otherwise exempted. In other words GST is applicabl...

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Whether Indian Judiciary is equipped to declare ‘Medical Emergency’

COVID-19 is a disaster that has engrossed from Wuhan, China. Although over the last few months this has travelled many countries and the reason for the birth of the Coronavirus is still not known. Some say that it is a virus which is a mixture of several viruses such as swine flu,  bird flu etc., However the virus has spread all over the...

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Blocking of ITC Under Rule 86A of CGST Rules: Power of Authority are Neither Unfettered Nor Unbridled

Blocking of ITC Under Rule 86A of CGST Rules: Power of Authority Are Neither Unfettered Nor Unbridled In order to run the society smoothly the business is required to run seamlessly. Any adventurism in the sphere of business is bizarre and the same without discipline is not advisable. In all fiscal statutes, a delicate balance […]...

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A Year Since 6 Schemes of Franklin have been Shut

All About winding up of 6 Schemes operated by Franklin India Asset Management Company We all know that this Pandemic has hit hard to everyone. But we never knew that such kind of thing would also happen. On 23rd April 2020 the breaking news was ‘Franklin India Shuts it’s 6 Debt Schemes due to heavy […]...

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June 2021