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Piyush Goyal thanks PM for deferring GST Rate increase for Textiles sector

January 5, 2022 1368 Views 0 comment Print

Shri Piyush Goyal thanks the Prime Minister for the decision to defer the increase of GST slab from 5% to 12% for Textiles sector while addressing All India Textiles Association Special focus on getting concessional duties for Textile products in all the ongoing FTA negotiations with major countries like UK, UAE, Canada, EU, Australia – […]

Media reports claiming that India missed Vaccination targets are misleading

January 4, 2022 681 Views 0 comment Print

In a recently published news article by a reputed international news agency, it has been claimed that India has missed its vaccination target. This is misleading and does not represent the complete picture.

Consumer Welfare Fund made available to Board under Rule 97(7A) of CGST Rules, 2017

January 4, 2022 3078 Views 0 comment Print

Consumer Welfare Fund made available to Board under Rule 97(7A) of the CGST Rules, 2017 (Management & Administration) Central Board of Indirect Taxes & Customs (CBIC), Department of Revenue, Ministry of Finance, Government of India SECTION-I Introduction Consumer Welfare Fund (CWF) has been constituted under Section 57 of the Central Goods & Service Tax (CGST) […]

Memorandum against allowing credit in GSTR 3B only as appears in GSTR 2B

January 4, 2022 8424 Views 2 comments Print

Problems That Taxpayer May Face Due To Recently introduced amendment allowing credit in GSTR 3B only if the same appears in GSTR 2B and due to Visit by GST authorities and attachment of Bank Accounts/Property.

Legal Notice issued to CBDT for not extending ITR Due Date

January 4, 2022 129300 Views 19 comments Print

All Odisha Tax Advocates Association has issued a notice to CBDT for refusing to extend the due date of filing returns of the assessees of Odisha for the Assessment Year: 2021-2022 after 31/12/2021 and imposing late filing fee under section 234F of the Income Tax Act, 1961 in spite of many technical glitches in the […]

Guidelines on Remuneration of Directors & CEO of Insurance companies

January 3, 2022 3090 Views 0 comment Print

The Guidelines cover the remuneration of Non-Executive Directors, CEOs /WTDs /MDs of private sector insurers including the format in which remuneration details are required to be submitted to the Authority.

Insurance policies covering Covid-19 also cover Omicron variant of Covid-19

January 3, 2022 816 Views 0 comment Print

IRDAI clarified that all health insurance policies issued by all general and health insurance companies that cover treatment costs of Covid-19 also cover the costs of treatment towards Omicron variant of Covid-19 as per terms and conditions of policy contract.

LIC IPO: Policyholders asked to update PAN

January 3, 2022 2085 Views 0 comment Print

In order to participate in any such public offering by LIC, policyholders will need to ensure that their PAN details are updated in the Corporation’s records. Further, subscribing to any public offering in India is only possible if you have a valid DEMAT account —accordingly, policyholders should ensure that they have an active DEMAT account in place.

Request to not to relax e-Commerce Policy & FDI Rules on e-Commerce

January 2, 2022 774 Views 0 comment Print

Confederation of All India Traders has requested to Shri Piyush Goyal Hon’ble Minister for Commerce & Consumer Affairs to not to relax E Commerce Policy and FDI Rules on E Commerce. Their representation is as follows:- “Vyapar Bhawan” 925/1, Naiwala, Karol Bagh, New Delhi-110005, Phone: +91-11-45032664, Telefax +91-11-45032665 E-mail: teamcait@gmail.com Website: www.cait.in 02nd January, 2022 Ref. No.: […]

5.89 crore Income Tax Returns filed as on 31st December, 2021

January 1, 2022 1566 Views 0 comment Print

Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date. More than 46.11 lakh ITRs were filed on 31.12.2021.

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