"30 December 2021" Archive

Future & Options (F&O) Accounting, Audit and Taxation

Share trading and, Derivative trading (F & O trading) is normal now a days. You will not believe nearly 14.3 million new investors added by the depositories in the year ended 31 march 2021. Further, we cannot deny the role of digitalization and platforms available to invest in stock and derivative market. Most of people […]...

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Posted Under: Income Tax |

GST refund filing Mechanism for taxpayers registered in erstwhile UT of Daman & Diu

Circular No. 168/24/2021-GST 30/12/2021

CBIC notifies Mechanism for filing of refund claim by the taxpayers registered in erstwhile Union Territory of Daman & Diu for period prior to merger with U.T. of Dadra & Nagar Haveli vide Circular No. 168/24/2021 – GST Dated: 30th December, 2021. Mechanism for filing of refund claim by the taxpayers registered in erstwhile ...

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CBIC amends FTA/PTA notification to align with HSN 2022 w.e.f. 1.1.2022

Notification No. 60/2021-Customs, G.S.R. 917(E)[] 30/12/2021

CBIC amends FTA/PTA notification to align with HSN 2022 w.e.f. 1.1.2022 vide Notification No. 60/2021-Customs, Dated: 30.12.2021.  MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 30th December, 2021 Notification No. 60/2021-Customs G.S.R. 917(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Cu...

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Statutory and Tax Compliance Calendar for January 2022

Statutory and Tax Compliance Calendar contains compliance’s related to GST (GSTR 1, GSTR 3B, GSTR 6, GSTR 5 & GSTR 5A) Income Tax (Due date of TDS Payment, Advance Tax payment, TDS Return Filing, Income Tax Return Filing, TDS Certificate Issue etc.), EPF, ESIC, LODR/SEBI, Companies Act, 2013 and other compliances. It explains f...

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Posted Under: Income Tax | ,

Deadlines extended for ROC & GST compliances and its effect on Government’s revenue

ROC Compliances: Extension of deadlines In addition to the Ministry’s General Circular No.17/2021 dated 29.10.2021, it has been decided that no additional fees will be levied for the filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL up to 15.02.2022 and up to 28.02.2022 for the filing of or filing of e-forms MGT-7/MGT...

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Posted Under: Income Tax |

Delhi Govt extends relaxation of 20% in minimum Circle rates till 30.06.2022

Notification No. F. 1(2854)/Regn.Br./Div.Comm./HQ/2020/6841 30/12/2021

Delhi Govt notifies the extension of relaxation of 20% in the minimum rates (Circle rates) till 30.06.2022 for valuation of lands and immovable properties in Delhi under rule 4 of the Delhi Stamp (Prevention of Under-Valuation of Instruments) Rules, 2007 for the purpose of payment of Stamp duty under Indian Stamp Act, as applicable to De...

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Govt promotes 143 IRS officers to the grade of JCIT

Office Order No. 352 of 2021 30/12/2021

President is pleased to appoint 143 officers of Indian Revenue Service to the grade of Joint Commissioner of Income Tax (JCIT) purely on ad-hoc basis in Level-12 in the pay matrix Rs.78 ,800-2,09,200/-, w.e.f. 01.01.2022...

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Centre notifies rules for Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021

G.S.R. 912(E) 30/12/2021

Centre notifies rules for Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 The revised pecuniary jurisdiction for entertaining consumer complaints shall be upto – 1) 50 lakh for District Commissions, 2) More than ₹50 lakh to ₹2 Crore for State Commissions...

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Important Amendments In GST Rules W.E.F. 01.01.2022

Notification No.  40/2021 – Central Tax dt. 29.12.2021 has been issued to amend the CGST Rules, 2017 to compliment the amendments made in the CGST Act, 2017 that has been brought into force w.e.f. 01.01.2022. The given amendments in the Rules shall also apply w.e.f. 01.01.2022. The detailed analysis of the amendments in the Act [&helli...

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Posted Under: Income Tax | ,

GST not leviable on handling charges of PDS distribution of Dhothies & Sarees/ School Uniforms to state government

In re Handloom Weavers Cooperative Society Ltd. (GST AAR Tamilnadu)

In re Handloom Weavers Cooperative Society Ltd. (GST AAR Tamilnadu) GST not leviable on handling charges of PDS distribution of Dhothies & Sarees/ School Uniforms to state government The AAR, Tamilnadu in the matter of M/S. Handloom Weavers Cooperative Society Ltd. [Advance Ruling No. TN/47/ARA/2021 dated December 30, 2021] held that,...

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