Explanation to the sections of the Finance Act, 2020 that have came into force are as follows :- Section 118 – Amendment to section 2(118), sub-clauses (c) and (d) of the CGST Act,2017 – i.e., inclusion of Dadra and Nagar Haveli and Daman and Diu and Ladakh under the definition of Union Territories. Section 125 […]
CBIC vide Notification No. 50/2020 – Central Tax brings into force the Central Goods and Services Tax (Seventh Amendment) Rules, 2020 with effect from 01st April, 2020.
Interpretation of section 80AC of the Income Tax Act, 1961 (the Act) has its various phases but a section defined in a law cannot have two separate meanings. Today we are going to learn about true interpretation of Section 80AC of the Act from conversation of Madhav and Vidya. Madhav: Vidya, today I was solving […]
Considering the COVID-19 pandemic situations, MCA provided the relaxation in name reservation. MCA extends the timelines names reserved and re submission forms for companies and LLP’s .
The Ministry of Corporate Affairs (MCA) on notification no. G.S.R. 420(E) dated on 29th June 2020, notified regarding the removal of the name of Government company from the Registrar of Companies (RoC), Indemnity Bond to be given under Form No. STK – 3A. & published the Companies (Removal of Names of Companies from the Register […]
As per “THE TAXATION AND OTHER LAWS (RELAXATION OF CERTAIN PROVISIONS) ORDINANCE, 2020, NO. 2 OF 2020 (the Ordinance), IN CHAPTER II, Point No. 3(1) where, any time limit has been specified in or prescribed or notified under, the specified act which falls during the period from the 20th Day of March, 2020 to the […]
CBIC vide Notification No. 54/2020 – Central Tax dated 24th June, 2020 extends due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs. 5 crore. Due date for furnishing FORM GSTR-3B for the month of August, 2020 extended to 1st October, 2020 […]
CBIC vide Notification No. 53/2020 – Central Tax dated 24th June, 2020 provides relief to taxpayers by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly […]
Cbic vide Notification No. 52/2020 – Central Tax dated 24th June, 2020 seeks to provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B […]
CBIC vide Notification No. 51/2020 – Central Tax dated 24th June, 2020 provides relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020
