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Extension of due date of furnishing of Income Tax Returns and Audit Reports

Ministry of Finance Extension of due date of furnishing of Income Tax Returns and Audit Reports Posted On: 24 OCT 2020 2:27 PM by PIB Delhi   In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government …

Extension of due dates for Annual Return and Reconciliation Statement for 2018-19

Ministry of Finance Extension of due dates for Annual Return and Reconciliation Statement for 2018-19 Posted On: 24 OCT 2020 3:45PM by PIB Delhi   The Government has been receiving a number of representations regarding need to extend due date for filing Annual Return (FORM GSTR-9) and Reconciliation Statement (FORM …

Payment Date Extended for Vivad se Vishwas Scheme

Ministry of Finance Payment Date Extended for Vivad se Vishwas Scheme Finance Secretary urges I-T Department to Reach Out to the Taxpayers Posted On: 27 OCT 2020 10:36PM by PIB Delhi In order to provide further relief to the taxpayers desirous of settling disputes under Vivad se Vishwas Scheme, the Government today …

Compulsory GST Registration

Compulsory GST Registration Section 24 CGST Act 2017  1. As per section 24(1) of the CGST Act 2017, the following categories of persons are required to be registered, even if their aggregate turnover is below specified threshold limit and are exempt from registration under section 22(1). 2. Section 24(i): Inter-State Supply of Goods:  …

raudulent claims of ITC and cash refund of around Rs. 61 crore

An intelligence was developed by the officers of DGGI that few exporter companies were engaged in fraudulent availment of Input Tax Credit (ITC) on the invoices of non-existing and fictitious firms or such firms which apparently do not have any purchases themselves. The ITC so availed was utilized to pay …

Annual Return (GSTR-9)and Reconciliation Statement (GSTR 9C) for FY 2018-19

Vide notification No. 69/2020 – Central Tax, dated 30.09.2020, the due date for furnishing of the Annual Return for the FY 2018-19 has been extended till 31.10.2020. Certain representations have been received stating that the auto populated GSTR 9 for the year 2018-19 (Tables 4, 5, 6 and 7) also …

Point of the 42nd GST Council Meeting

The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior …

foreign investment in indian company

COMPANIES INCORPORATED OUTSIDE INDIA Application of Act to foreign companies. 379.[(1) Sections 380 to 386 (both inclusive) and sections 392 and 393 shall apply to all foreign companies: Provided that the Central Government may, by Order published in the Official Gazette, exempt any class of foreign companies, specified in the Order, …