"December, 2021" Archive - Page 7

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: CA, CS, CMA |

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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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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GST on marine engines pertaining to HS code 8407 and its spare parts

In re George Maijo Industries Private Limited (GST AAR Tamilnadu)

Applicability of GST rate 5% on marine engines pertaining to HS code without considering its general tax rate as per the entry of Schedule I, SI. No.252 of GST Act dated 28.06.2017, being this engine forms a part of boats of HS code 8906 being supplied to defence department and Naval base, Cochin is available to the applicant when such en...

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Changes in Exemption on Goods under GST from 01.01.2022

Certain changes in Goods Exemption Notification from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 2/2017 Central Tax (Rate) dated June 28, 2017 (Goods Exemption Notification) in order to notify the exemption on certain supply of goods mentioned therein. Further, the new (seventh) edition ...

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Posted Under: CA, CS, CMA |

Changes in Compensation Cess Rate on supply of certain goods from 01.01.2022

Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 1/2017-Compensation Cess (Rate) dated June 28, 2017 (Compensation Cess Rate Notification) in order to notify the rate of GST compensation cess to be levied on th...

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Posted Under: CA, CS, CMA |

Changes in Concessional GST Rate on specified handicraft items from 01.01.2022

Certain changes in the Concessional Rate Notification on specified handicraft items from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 21/2018- Central Tax (Rate) dated July 26, 2018 (Concessional Rate Notification) in order to prescribe concessional GST rate on specified handicraft items....

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Posted Under: CA, CS, CMA |

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