Government of India / CT and GST authorities of the Government of Odisha to do the needful at an early date to save the non-filers / Taxpayers, those who would not be able to take the advantage of the Amnesty Scheme as approved by the GST Council and the Government Notification dated-01/06/2021 due to the procedural constraints and this is going to affect the employment and economy of the country at large.
As per section 61 – Scrutiny of returns read with rule 99, Officer may scrutinize the return furnished by the registered person to verify the correctness of the return and inform him of the discrepancies noticed (Form GST ASMT-10) and seek his explanation thereto.
The government has issued the notifications providing the details for filing of annual return in Form GSTR-9 and reconciliation statement in Form GSTR-9C for FY 2020-21. In its continued endeavor to reduce the burden on small taxpayers, the government has issued Notification No 29/2021-Central Tax, Notification No. 30/2021-Central Tax and Notification No. 31/2021-Central Tax dated […]
Is ministry of cooperation by Government of India all set to implement one nation one housing policy and start housing revolution. Like we saw in Agriculture, Dairy and Sugar Cooperative societies, Housing Cooperative societies will penetrate up to every ration shop registration and postal code and street wise and create an orderly housing available to […]
Bombay Chartered Accountant’s Society has made following two brief representations on the various legal and procedural issues on the provisions relating to GST registration in the GST law and rules which are relevant from every taxpayer’s point of view. These representation deals with legal issues and procedural issues. Full text of the representation is as […]
Bombay Chartered Accountant’s Society has made a representation to CBDT Chairman and draw his attention towards the difficulties faced, in recent times, by resident taxpayers, in claiming Foreign Tax Credit (FTC) for their income abroad, while filing their return of Income in India. Full Text of their representation is as follows:- Bombay Chartered Accountant’s Society […]
Bombay chartered Accountants Society has made a representation to Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs on Problems being faced by taxpayers on new portal E-filing 2.0. They summarized issues in the ensuing sections i.e. Issues relating to Login, Issues relating to E-filing, Issues relating to Services, Issues relating to Pending […]
RBI has provided that Cash-out at any ATM of more than ten hours in a month will attract a flat penalty of ₹ 10,000/- per ATM with effect from 1st October 2021. RESERVE BANK OF INDIA RBI/2021-22/84 DCM (RMMT) No.S153/11.01.01/2021-22 August 10, 2021 The Chairman / Managing Director & CEO All Banks Dear Sir / […]
In 2012, after the adversarial decision of Supreme Court decision in the case of Vodafone, Indian Government had introduced slew of retrospective amendments in the Income Tax Act. This led to severe criticism from the International community and investors and damaged India’s image as investment hub. It further augmented litigation and huge taxes were blocked.
Government released New ITR filing portal on 7th June, 2021 for improving efficiency of IT Portal, best user interface and better user services. However, since the day of its launch, portal is facing many problems/errors like unable to File ITR on New Portal, unable to do EVC (E-verify) of ITR, non launching of schema of […]
