CBIC has issued 7 GST Central Tax Notifications, One Removal of Difficulty Order and 4 Central GST Circulars on 28th June 2019 to Give effect to 35th GST Council Decisions and to clarify certain issues in GST. Vide these notifications CBIC has notified due dates of Monthly and Quarterly GSTR-1 and GSTR 3B for the […]
ICSI has made a representation to Minister of Corporate Affairs and requested to clarify – 1. w.r.t requirement of the Audit of financials for the purpose of filing of Form DPT – 3, 2. In case of one-time DPT -3 return a. Whether the amount received before 1st April, 2014 is to be included if […]
I. GST Updates 35th GST Council Meeting was held on 21 June 2019 at New Delhi, after a long gap of more than three months. This was the first council meeting chaired by the re-elected government and India’s second woman Union Finance Minister, Mrs Nirmala Sitharaman. This GST Council meeting has been called at a […]
The Larger Bench (LB) of Bombay HC rules in favour of Revenue, holds that cash refund u/s 11B of the Central Excise Act, 1944 is not permissible when CENVAT Credit on inputs remains unutilized on account of closure of manufacturing unit or inability to utilize input credit.
AIFTP requested Finance Minister to Increase monetary limit for appointment of Company Secretaries from existing Rs. 5 Crore to Rs. 20 Crore at earliest As the limit of Rs 5 Crore Paid up capital was fixed more than 10 years ago i.e. w.e.f. 15-03-2009.
As per the existing provisions an Individual tax payer who is resident under the tax laws is entitled to a rebate of upto Rs. 12,500/- provided his total taxable income does not exceed Rs. 5 lakhs for the year after all the available deductions and exemptions.
There is sufficient cause and need for the extension of filing of Form DPT 3 and unified reporting of other matters with a due date deadline congruent with the Annual Forms filing and nascent penalty provisions for small companies to foster friendly regime.
The Ministry of Corporate Affair vide its notification dated January 22, 2019 had directed to all the Company, except government company, to file: – a one-time return in e-Form DPT-3, by furnishing the details of all outstanding receipt of money or loan taken from April 01, 2014 to March 31, 2019, which is not considered […]
The GST Council met for the 35th time after a long gap of 3 months at New Delhi on 21st June 2019 under the chairmanship of Union Finance Minister Ms. Nirmala Sitharaman. The Council in its meeting discussed the various issues including extension of tenure of National Anti-profiteering Authority (NAA), e-invoicing, modalities for introduction of […]
Requesting extension of filing of Annual Forms GSTR-9, GSTR-9A and GSTR-9C for a reasonable period of time to give justice to the correctness of returns considering the need for reconciliations state-wise.
