What is Section 44AD of Income Tax Act ? TO ease the tax burden on small taxpayers this taxation scheme was introduced by income tax law What are the benefit of this scheme? You don’t have to maintain Accounting Records or Books of Accounts. You don’t have to get your books of accounts audited. To […]
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latest news on gst ,Changes in GST with effect from 01-01-2022
1. GST ITC available to Recipient only when supplier pay and file GSTR 1, which matches with GSTR -2B 2. Registered persons can’t file GSTR-1 if not furnished GSTR-3B for the preceding month 3. Recovery of self-assessed tax without SCN if there is difference between GSTR 1 and GSTR 3B 4. Commissioner can pass Order […]
Read MoreGST Amnesty Scheme Extended Till November 30, 2021.
GST Amnesty Scheme Extended The Ministry of Finance on Sunday, August 29 extended the last date to avail the GST amnesty scheme, under which taxpayers have to pay a reduced fee for delayed filing of monthly returns, by three months till November 30. Now The last date to avail benefit of the late fee amnesty […]
Read MoreUPDATE YOUR IMPORTER-EXPORTER CODE
Notification No. 58, dated 12.02.2021 Ministry of Commerce & Industry, Govt. of India made it mandatory to update the IEC details for all IEC holders every year. All IEC holders are now legally required to update and validate their IEC Details, even if there are no changes, from April to June once every year through Online system, […]
Read MoreGST Amnesty Scheme-2021,43rd Meeting of the GST Council
Taxpayers can now file their pending returns for the tax periods from July 2017 to April 2021 without any high penalty and avail the benefits of this GST Amnesty scheme with reduced late fees. Relaxation in Late fees for Return Filings of GSTR 3 B Sl. Return Type […]
Read MoreNew e-filing portal from 7th June 2021
The new ITR e-filing portal is set to go live from 7 June. The new e-filing portal integrated with the immediate processing of Income Tax Returns (ITRs) will help issue quick refunds to taxpayers. All interactions and uploads, pending actions, will be shown on a single dashboard for follow-up action by the taxpayer, and the […]
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