Tag: CA in Dwarka

GST Amnesty Scheme

Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration under GST Act

The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021.  The last date to avail benefit of the late …


electronic filing

CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms. The further details are as under: …


Vivad Se Vishwas Scheme

CBDT extends date under section 3 of the Vivad se Vishwas Act

Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act. As per the latest notification dated 25th June 2021, the last date of payment of the amount (without any …


Charitable trust liable to pay GST in Maharashtra- AAR (Authority of Advance ruling)

Advance Ruling Mechanism in GST An advance ruling helps the applicant in planning his activities, which are liable for payment of GST, well in advance. It also brings certainty in determining the tax liability, as the ruling given by the Authority for Advance Ruling is binding on the applicant as well as Government authorities. Further, …


GST Day – 1st July 2018 to be celebrated as “GST day” – #GST “ONE NATION, ONE TAX, ONE MARKET”

1st July 2018 to be celebrated as ‘GST day’, to commemorate the first year of the unprecedented reform of Indian taxation Government of India is celebrating the 1st Anniversary of the Goods and Services Tax (GST) coming into force, here tomorrow. GST was launched on the 1st July, 2017 in a majestic ceremony held in …


Tax Treaty with Iran to prevent Double Taxation and Fiscal Evasion

India and Iran signed in New Delhi today an Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion with respect to taxes on income. India and Iran signed here in New Delhi today an Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion with respect …


GST Council recommends relief in GST on Circus, Dance and Theatrical Performances

Threshold Exemption under GST for admission to such cultural and sports events in the country increased from Rs. 250 to Rs. 500 per person In its Meeting held on 18th January, 2018, the GST Council has recommended that for the purpose of GST exemption, the threshold price limit of Admission Ticket for circus, dance,theatrical performances including …


Planning to Invest in Bitcoin? – Finance Ministry & RBI cautioned people of India to do at their own risk – Bitcoin is not a Legal Tender

There has been a phenomenal increase in recent times in the price of Virtual ‘Currencies’ (VCs) including Bitcoin, in India and globally. The VCs don’t have any intrinsic value and are not backed by any kind of assets.Government Cautions People Against Risks in Investing in Virtual ‘Currencies’ –  Says VCs are like “Ponzi Schemes”. The …


Impact of GST on the Prices of Goods and Services

Since GST bill has been introduced in the Parliament, economists across the country have started analyzing its impact on the economy. Recommended as the biggest reform of Indian economy, GST has a distinctive impact on every touch point from manufacturer and trader to buyer. Since it is about to proceed in the next couple of …


Inter-State E-Way Bill compulsory from 1st February 2018 – GST Council Decided in its 24th Meeting

The 24th GST Council Meeting held on 16th December 2017, through video conferencing decides that Inter-State e-way Bill to be made compulsory from 1st of February, 2018. The System to be ready by 16th of January, 2018; The Uniform System of e-way Bill for Inter-State as well as Intra-State movement will be implemented across the …