9th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.54,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 lakh crore granted to the States
CBIC issues Corrigendum to Notification No. 94/2020-Central Tax, dated 22nd December,2020 and corrected two of its mistake in the notification. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) CORRIGENDUM New Delhi, the 28th December, 2020 G.S.R. 801(E).—In the notification of the Government of India, Ministry of Finance, Department of Revenue, […]
(OI CASE No: 17/2019) Anti-dumping investigations on the imports of Polyethylene Terephthalate (PET Resin) originating in or exported from China PR.
Firstly, it is to be noted that currently, only companies and LLPs (collectively referred to as the ‘Corporate Debtor’ or ‘CDR’) can be subject to the provisions of the IBC. Thus, partnership firms, proprietary concerns, individuals etc. do not fall under IBC as on date and thus such persons will not be governed by the provisions of the Code.
A facility of ‘Communication Between Taxpayers’ has been provided on the GST Portal, for sending a notification by recipient (or supplier) taxpayers to their supplier (or recipient) taxpayers, regarding missing documents or any shortcomings in the documents or any other issue related to it. This facility is available to all registered persons, except those registered as TDS, […]
S. S. Industries Vs Union of India (Guajrat High Court) I) The invocation of Rule 86A of the Rules for the purpose of blocking the input tax credit may be justified if the concerned authority or any other authority, empowered in law, is of the prima facie opinion based on some cogent materials that the […]
A letter is doing round on Social Media which is written on behalf of All Professionals, Tax Payers and Stakeholders in which A very humble prayer for further relaxation of provisions of section 139(1) and section 44AB of the Income Tax Act, 1961 by granting extension of due date and specified date respectively etc. from […]
Tax Bar Association, Guwahati has requested for Extension of Companies Fresh Start Scheme i.e. CFSS 2020 and LLP Settlement Scheme 2020 to to 31st March, 2021. Request is been made to Smt. Nirmala Sitharaman, Hon’ble Minister of Finance & Minister of Corporate Affairs. Full text of the Representation is as follows:- Tax Bar Association (Registered […]
Tax Consultant & Practitioners Association of Kerala has requested for extending the option for availing Amnesty Scheme – 2020 till 31st January 2021. The scheme applies to the outstanding dues under following Statutes such as: Kerala Value Added Tax Act, Central Sales Tax Act,Tax on Luxuries Act,Kerala Surcharges Act, Kerala Agriculture Income Tax Act, and […]
Tax Consultant & Practitioners Association of Kerala has made a request for the extension of due date of ITR for AY 2020-21 and GSTR 9, 9A & 9C for FY 2018-19 & 2019-20. They requested for extension of due date of Filing Income Tax Return, GSTR9, 9A & 9C for the FY 2018-19 & 2019-20 […]
