MANUFACTURING IN CUSTOMS BONDED FACILITY ‘A Scheme for manufacturing and other operations in a Customs Bonded Facility to Promote India as a Global Manufacturing Hub’ OVERVIEW India allows duty-free import of raw materials and capital goods for manufacturing and other operations in a bonded manufacturing facility. Deferment of import duty on imported capital goods and […]
1. Changes Related to GSTR-3B: – 1. Linking GSTR-1 with GSTR-3B (for the flow of liability).PDF Mail of filed GSTR-3B. 2. Linking GSTR-2A/2B & Ice-gate data with GSTR-3B for better ITC Availment. 2. Changes Related to GSTR-1: – 1. De-Linking of GSTR-1 invoices for Credit/ Debit notes. So now we can enter the details of […]
MSMEs are the backbone of the Indian economy; they are one of the largest employment generators and contribute roughly about 35% to the GDP. Recently the Government has shifted its focus on this micro, small and medium enterprises and have developed various schemes and measures to enhance their growth. After 14 years since the MSME […]
Ever since the Facebook-Jio Platforms deal has been revealed, the later is witnessing an unending flow of foreign direct investments from various entities. The latest one being the Rs.33,737 crores investments by Alphabet Inc. aka Google. It is equivalent to 7.7% stake. This fresh inflow moved the investments tally up to Rs.1,52,056 crores. (approximately), which […]
Every year July end due dates have one thing in common and that is ITR filing for the taxpayers whose accounts are not required to be audited. But this time around we are all locked up in our homes due to the COVID-19 pandemic and it’s implication being extension of compliance due dates. Thus, this […]
Acting on specific intelligence the Directorate General of Goods and Service Tax Intelligence, Headquarters (DGGI, Hqrs) has unveiled a racket of clandestine clearance of cigarettes through a factory run in Kota.
GSTN has made Form GSTR-4 (Annual Return for Composition Taxpayers) available on the GST portal. This will enable 17 lakh Composition Taxpayers to file their returns on an annual basis with effect from FY 2019-20.
Permission To Facilitate Service of Summons Through E-Means During Times of Global Pandemic! It’s a known fact that the global pandemic of COVID-19 has brought the world and the economies on a standstill, with the number of patients on an ever-increasing rate. However, considering its importance for stability in the society, the judicial system in India and virtual means […]
CBDT has provide relief measure to taxpayers for filing of belated and revised return w.e.f. 20 July 2020 for the financial year(“FY”) 2018-19, till 31 July 2020. Please be apprised that earlier the last date for said compliance was 31 March 2020.
The income-tax department will start a 11-day e-campaign starting July 20, 2020, for voluntary tax compliance aimed at such assesses who are either non-filers or have discrepancies/deficiency in their tax returns for financial year 2018-19. As per the statement of Central Board of Direct Taxes (CBDT), issued on Saturday i.e. July 18, 2020, the objective […]
