N K GOEL AND BROS.

yashu.goel@icai.org  sent you an article GST Reverse Charge Mechanism chart on Goods & Services Section 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

PFA clarification In this regard.

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 ) Get the official Twitter app at https://twitter.com/download?s=13  

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 ) Get the official Twitter app at https://twitter.com/download?s=13  

Tax Deduct at Source Sec. 199/205 :  In 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 -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

https://youtu.be/M_IkuAvXDFs  

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 ) Get the official Twitter app at https://twitter.com/download?s=13  

https://youtu.be/ETmNRyNrFNs  

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 ) Get the official Twitter app at https://twitter.com/download?s=13  

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 ) Get the official Twitter app at https://twitter.com/download?s=13  

yashu.goel@icai.org  sent you an article Relaxation guidelines for PPF and Sukanya Sarnriddhi Account File 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

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. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

yashu.goel@icai.org  sent you an article Amendments in TDSTCS applicable from FY 2020-21 Amendments in TDS/TCS applicable from FY 2020-21 Amendments 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

yashu.goel@icai.org  sent you an article TDS Rate Chart for AY 2020-21 and AY 2021-22 Finance 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

GOODS & SERVICES TAX / IDT UPDATE – 82 Exemption of Foreign Airlines from furnishing reconciliation Statement in FORM GSTR-9C The Central Government vide Notification No.09/2020-Central Tax ,dated 16 th 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 the class 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 stat...

<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>