12 Notification has been issued under Central Tax on 1st June 2021, which are as follows:- 1. Notification no 16/2021 Seeks to appoint 01.06.2021 as the day from which the provisions of section 112 of Finance Act, 2021, relating to amendment of section 50 of the CGST Act, 2017 shall come into force. Section 50 …
Notifications to implement 43rd GST council decision related to COVID Relief Read More »
What is Costing? A costing of an organisation is an insight into costs, efficiency, productivity, profitability andsustainability of various products/segments of the company for enabling themanagement to assess the performance in the strategic and operationalcontext. The aim would be to discover various drivers of costs and profitabilityand their impact on the performance variables with the …
Any Gain arising to an individual or HUF from the sale of any Long Term Asset other than Residential Property shall be exempt in full, if the entire net sales consideration is invested in Purchase of one residential house within 1 year before or 2 years after the date of transfer of such an asset or in Construction of 1 …
Dear All, Two new and important features GSTN portals is providing are :- Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including …
Dear All, Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), ISD and Composition taxpayers can do their Aadhaar Authentication or e-KYC on …
Dear All, Below are important announcement made by different States related to their GST department having wide impact:- Maharashtra – Maharashtra had issued Trade Circular No. 01T of 2021 on January 12, 2021 regarding withdrawal of Trade Circular 39T of 2019 dated 05th July 2019. It is clarified that circulars issued by CBIC till 12 January, …
Dear All, Below are the important changessteps one should take care before 31st March 2021:- E invoicing – Now turnover limit has been reduced to 50 Crore. Central Board of Indirect Taxes and Customs has issued a Notification No. 05/2021 – dated March 08, 2021 Seeks to implement e-invoicing for the taxpayers having aggregate …
Six Things should be taken care before 31st March 2021 Read More »
Dear All, As you know govt in earlier notification i.e. NN 7/2021 (C.Tax) has allowed registered corporate taxpayers during the period from 27 April, 2021 to 31 May, 2021, to furnish the FORM GSTR-3B, GSTR -1 or using invoice furnishing facility, through electronic verification code. GST department has now further issued few notifications on 1st …
Relevant changes related to GST and Custom Central Goods and Services Tax Amendment of section 7. In the Central Goods and Services Tax Act, 2017 (hereinafter referred as the Central Goods and Services Tax Act), in section 7, in sub-section (1), after clause (a), the following clause shall be inserted and shall be deemed to …