1. Applicability of Dynamic Quick Response Code (QR) Dynamic Quick Response Code QR is applicable whose aggregate turnover exceeds Rs 500 crores rupees in any of the financial year from 2017-18 onwards. Exclusions: – Supplier of taxable services i. An insurer or a banking company or financial institution, a non- banking financial company. ii. A goods transport […]
1. Eligibility for qualifying to be Small and Medium Sized Company (SMC): –A company shall qualify to be small and medium sized company if all the following conditions are satisfied as at the end of the relevant accounting year: – i. Equity and debt securities are not listed on any stock exchange whether in India or outside […]
1. Standard Operating procedures for implementation of the provisions of extension of time limit to apply for the revocation of cancellation of registration As per the Circular no 148/04/2021-GST, where the person applies for the revocation of cancellation of the registration beyond a period of 30 days from the date of order of revocation of […]
Article discusses Amendment in CGST Rules 2017 vide Central Goods and Services Tax (Fourth Amendment) Rules, 2021 as notified vide Notification No. 15/2021–Central Tax Dated: 18th May, 2021. CGST Fourth Amendment Rules, 2021 amends following GST rules- Rule 23. Revocation of cancellation of registration Rule 90. Acknowledgement in FORM GST RFD-02 Rule 92. Order sanctioning refund […]
Finance Act-2021-Amendments in Business or Profession related Sections of Income Tax Act, 1961 i.e. Section 32(1)-Depreciation of buildings, machinery, plant or furniture, Section 43CA-Special Provisions For Full Value Of Consideration For Transfer of Assets Other Than Capital Assets In Certain Cases, Section 44AB- Tax Audit and Section 44ADA- Presumptive Tax Scheme for Professionals. S. No […]
SEBI has in recent past issued 4 Circulars on 29th April 2021 providing relaxation from SEBI Compliance. Article anslyses some of such relaxation in the article. 1. Relaxation of time limit for submission of Annual audited financial statements for entities who have listed their securities other than equity on Stock https://taxguru.in/sebi/sebi-relaxes-compliance-lodr-regulation-applicable-circulars.html Particulars Original Date Extended […]
1. Extension of time gap between two consecutive Board Meetings. General Circular No. 08/2021 Dated 03-05-2021 The requirement of holding meeting of the Board of the companies within the intervals provided in the section 173 of the Companies Act, 2013 (120 days) have been extended to 180 days for first two quarters of the FY […]
1. Waiver of Interest for the delay in deposit of tax for the month of March and April 2021 (Notification 08/2021-Central Tax dated 01st May 2021) 1. Taxpayer having turnover of more than Rs 5 crores 15 days from the due date: – 9% of the tax payable After 15 days from the due date:- […]
