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Notifications/Circulars

Tea (Marketing) Control (Amendment) Order, 2021

July 30, 2021 1533 Views 0 comment Print

This Order may be called the Tea (Marketing) Control (Amendment) Order, 2021. (2) It shall come into force on the date of its publication in the Official Gazette.

GSTR-9 filing exempted if turnover is upto Rs. 2 crs for FY 20-21

July 30, 2021 58692 Views 0 comment Print

Vide Notification No. 31/2021-Central Tax Dated : 30th July, 2021 CBIC exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year. This would ease compliance requirement of furnishing reconciliation statement in FORM GSTR-9C, as taxpayers would now be […]

CBIC amends Rule 80 Annual return, GSTR 9 Instructions & GSTR 9C

July 30, 2021 68115 Views 0 comment Print

CBIC has vide Notification No. 30/2021–Central Tax | Dated 30th July, 2021 amended Rule 80 related to Annual GST Return, It further amended Instructions related to GSTR 9 and also amended Form GSTR 9C. The existing Rule 80 replaced for making the requisite amendments in Form GSTR-9 & Form GSTR-9C. The default due date as […]

Govt omits GST Audit provision & amends Section 44 Annual return

July 30, 2021 58992 Views 0 comment Print

Vide CGST Notification No. 29/2021-Central Tax dated 30/07/2021 CBIC has notified the provisions of Section 110 & 111 of the Finance Act, 2021 w.e.f. 01.08.2021. While Section 110 omits section 35(5) of CGST Act means GST Audit (GSTR-9C) by CA/CMA is no longer required and Section 111 substitutes section 44 (Annual return) of CGST Act, […]

Accounting Standard to be followed by IFSC Banking Units (IBUs)

July 30, 2021 1077 Views 0 comment Print

It is advised that IBUs shall follow the IFRS accounting standards issued by the IASB, including any new amendments thereto, for preparing and maintaining its financial statements on standalone basis and for the purpose of reporting and compliance under the relevant IFSCA regulations, rules, directions, circulars and guidelines applicable for IBUs.

Govt amends FDI policy on Petroleum & Natural Gas Sector

July 29, 2021 642 Views 0 comment Print

The Government of India has reviewed the extant FDI policy on Petroleum & Natural Gas sector and has made the following amendment in the Consolidated FDI Policy Circular of 2020, as amended from time to time (FDI Policy):

Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating

July 29, 2021 492 Views 0 comment Print

Reserve Bank of India RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 Dated: July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) […]

ICAI renames Jammu Branch of NIRC of ICAI

July 29, 2021 774 Views 0 comment Print

Name of ‘Jammu Branch of NIRC of ICAI’ has been changed and the same shall now be known as ‘Jammu and Kashmir Branch of NIRC of ICAI’. The jurisdiction of Jammu and Kashmir Branch shall now cover all members and students within the jurisdiction of Union Territory of Jammu and Kashmir. THE INSTITUTE OF CHARTERED […]

Coconut Development Board (Amendment) Bill, 2021

July 29, 2021 723 Views 0 comment Print

(1) This Act may be called the Coconut Development Board (Amendment) Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

New Income Tax Rule 130 & 131 related to Forms, Return Orders, reports

July 29, 2021 26022 Views 0 comment Print

CBDT has vide Notification No. 83/2021-Income Tax | Dated: 29th July, 2021 inserted rule 130 and Omitted various Income Tax  rules and Forms. It further inserted Rule 131 which related to Electronic furnishing of Income tax Forms, Returns, Statements, Reports, orders MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi. Notification […]

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