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GST Reverse Charge Mechanism chart on Goods & Services

yashu.goel@icai.org sent you an article GST Reverse Charge Mechanism chart on Goods & ServicesSection 9(3): U/S 2(98) of CGST Act Reverse charge is defined as "liability to pay tax by the recipient of supply of goods or services or both instead of the supplier of such goods or services or both under sub-section (3) or sub-section (4) of section 9, or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act". The Government may, on the...Read More  |  Print & PDF

GST: LUT for FY 20-21, for export without payment of tax, can be filed till 30.06.2020

PFA clarification In this regard.

GST Dept issues Advisory for Conducting Personal Hearing via Video Calling App

YASHU GOEL (@YASHUGOEL) tweeted at 4:31 PM on Mon, Apr 27, 2020:
GST Dept issues Advisory for Conducting Personal Hearing via Video Calling App [Read Advisory] https://t.co/pnKjh7354L via @tax_scan
(https://twitter.com/YASHUGOEL/status/1254727397615624193?s=03)

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Finance Ministry directs Hearing of Cases in DRT through Video Conferencing amid COVID-19 lockdown

Finance Ministry directs Hearing of Cases in DRT through Video Conferencing amid COVID-19 lockdown
#FinanceMinistry  #covid19  #videoconferencing  #DRT #TaxNews #Taxscan
Read more at: https://t.co/U6ZRKc4pGX
(https://twitter.com/tax_scan/status/1254722547112951808?s=03)

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Delhi ITAT

Tax Deduct at Source Sec. 199/205In a case where the deductor has deducted tax at source but has not deposited the tax with the Govt, the assessee cannot be made to suffer. U/s 205, the assessee/ deductee cannot be called upon to pay the tax. Credit for the tax deducted at source has to be allowed in the hands of the deductee irrespective of whether the same has been deposited by the deductor to the credit of the Central Government or not(Favour of Assessee)Aricent Technologies Holdings Ltd vs. ACIT (ITAT Delhi), 23.12.2019
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CA Yashu Goel 9899263490
M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Supreme Court: Construction can't be allowed on open space in approved building layouts

ETRealty (@Realty_Et) tweeted at 10:30 PM on Fri, Apr 17, 2020:
ETRealty | Construction can't be allowed on open space in approved building layouts: SC https://t.co/49QcNMM8RK
(https://twitter.com/Realty_Et/status/1251193831099424775?s=03)

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CBDT revising ITR forms to enable taxpayers to avail benefit of timeline extension due to Covid 19

Paperless Customs to promote #SocialDistancing in time of #COVID19

CBIC (@cbic_india) tweeted at 5:55 PM on Wed, Apr 15, 2020:
Paperless Customs to promote #SocialDistancing in time of #COVID19. CBIC introduces electronic communication of pdf based Gate Pass and OOC (electronic Out of Charge) copy of Bill of Entry to Customs Importers/Brokers #StayHome #IndiaFightsCorona #Lockdown2 https://t.co/mz63PvtUX0
(https://twitter.com/cbic_india/status/1250399877521006595?s=03)

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CBIC launches e-delivery of pdf Gatepass and Final Bill of Entry to Custom Brokers and Importers.

CBIC (@cbic_india) tweeted at 10:39 PM on Mon, Apr 13, 2020:
CBIC launches e-delivery of pdf Gatepass and Final Bill of Entry to Custom Brokers and Importers. This will further simplify import clearance process by reducing human interface and help tackle the scourge of #COVID19. Circular No. 19/2020-Cus dated 13th April 2020 issued. https://t.co/LcoyB3Fq4L
(https://twitter.com/cbic_india/status/1249746549036351489?s=03)

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Relaxation guidelines for PPF and Sukanya Sarnriddhi Account

yashu.goel@icai.org sent you an article Relaxation guidelines for PPF and Sukanya Sarnriddhi AccountFile No. 14/6/2020-NS(Pt) F.No. 14/6/2020-NS Ministry of Finance Department of Economic Affairs (Budget Division) North Block, New Delhi Dated: 11.04.2020 OFFICE MEMORANDUM Subject: Relaxation guidelines for Small Savings Schemes – reg. The undersigned is directed to inform that the regulatory provisions to operate the Small Savings Schemes are further relaxed in continuation to this...Read More

Extension of date for Opting composition scheme.

Please Note!!  The suppliers who are already registered under the composition scheme of GST in the previous financial year i.e. 2019-20 are NOT REQUIRED to opt-in again for the FY 2020-21.
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CA Yashu Goel 9899263490
M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Amendments in TDS/TCS applicable from FY 2020-21

yashu.goel@icai.org sent you an article Amendments in TDSTCS applicable from FY 2020-21 Amendments in TDS/TCS applicable from FY 2020-21Amendments in the Provisions of of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) applicable from Assessment Year  2021-22 (i.e Financial year 2020-21) Through the Finance Act 2020 (which have received the assent of the President of India on 27th March 2020), the Central Government has made various amendments to existing provisions of TDS & TCS and also inserted some new...Read More  |  Print & PDF

TDS Rate Chart for AY 2020-21 and AY 2021-22

yashu.goel@icai.org sent you an article TDS Rate Chart for AY 2020-21 and AY 2021-22Finance Minister has presented Union Finance Budget on 01st February 2020. Vide the Budget FM has made various changes in TDS provisions and Introduces two New TDS Sections i.e. Section 194K and Section 194O which provides TDS on Mutual Fund Income and TDS on E-Commerce Transactions. There were also changes in few existing sections of TDS which includes amendment in Section 194J by which TDS on...Read More  |  Print & PDF

Fwd: GOODS & SERVICES TAX / IDT UPDATE - 82

GOODS & SERVICES TAX / IDT UPDATE – 82
Exemption of Foreign Airlines from furnishing reconciliation Statement in FORM GSTR-9CThe Central Government vide Notification No.09/2020-Central Tax ,dated 16th March, 2020 has notified the foreign company which is an airlines company covered under the notification issued under sub-section (1) of section 381 of the Companies Act, 2013 (18 of 2013) and who have complied with the sub-rule (2) of rule 4 of the Companies (Registration of Foreign Companies) Rules, 2014 as theclass of registered persons who shall follow the special procedure as mentioned below :-Special procedure to be followed:-Exemption from furnishing GSTR-9C:-The said persons shall not be required to furnish reconciliation statement in FORM GSTR-9C to the Central Goods and Services Tax Rules, 2017 under subsection (2) of section 44 of the said …

Fwd: ‘Phytotherapy’ is not exempted under GST, Need to be registered: AAR [Read Order]

<p>The Authority of Advance Ruling (AAR) West Bengal ruled that the 'phytotherapy' is not exempted under Goods and Service Tax (GST) and so it needs to be registered. On an application filed by the applicant namely OPTM Health Care Private Limited, the Authority of Advance Ruling (AAR) observed that all the health care services are […]</p>