Tag: #GSTinIndia

Micro Enterprises

Aatma Nirbhar Bharat Package for Micro Enterprises

As part of the Aatma nirbhar Bharat Initiative, Ministry of Food Processing Industries is implementing a Centrally Sponsored PM Formalization of Micro food processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/ up gradation of 2 lakh micro food processing enterprises through credit linked grant  during five years from 2020-21 …


Taxpayers

Taxpayer can get more exemption of Income tax return in budget 2022

Common people have high hopes from this budget. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of big relief …


timelines for income tax return filing

Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22

On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect ofthe following …


What is bank deposit insurance programme?

Depositors in bank deposit insurance programme

Today is a very important day for the banking sector for the country and for crores of bank account holders of the country. How a big problem that has been going on for decades has been solved, today is a witness to it. In the name given to today’s event, Depositors First is putting the …


Startup

Startups

To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as …


GST Rates

The GST Council made a big change in the rate of these things!

The GST Council meeting was held in Lucknow on Friday under the chairmanship of Finance Minister Nirmala Sitharaman. After this meeting many important decisions were announced. These decisions will have a direct impact on the common man. In this, the exemption from GST on medicines to prevent coronavirus was increased to 31 December 2021. But, …


e-Filing portal of the Income Tax Department

e-Filing portal of the Income Tax Department – updates

The e-Filing portal of the Income Tax Department (www.incometax.gov.in) was launched on 7th June, 2021. Taxpayers and professionals have reported glitches and difficulties in the portal since then. The Ministry of Finance has been regularly monitoring the resolution of issues with Infosys Ltd which is the Managed Services Provider for the project. A number of technical …


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 …