NEW DUE DATE OF GSTR -3B

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 07/2020 – Central Tax New Delhi, the 3 rd February, 2020 G.S.R…..(E).– In exercise of the powers conferred […]

Highlights of Union Budget 2020-21

-For MSME sector Audit threshold for MSMEs raised to ₹5 crore from ₹1 crore -More on tax front -100% tax exemption on Soverign Wealth Funds’ Indra Investment. -Concessional 5% withholding tax entended to municipal bonds, Nirmala Sitharaman -FM Nirmala Sitharaman on the new tax regimes: Lowest, simplest, smoothest -On DDT Dividend Distribution Tax […]

RAJASTHAN INVESTMENT PROMOTION SCHEME – 2019

RAJASTHAN INVESTMENT PROMOTION SCHEME - 2019 In order to generate employment opportunities and promote rapid, sustainable and balanced economic growth in the State of Rajasthan, the State Government of Rajasthan, in public interest, hereby issues “The Rajasthan Investment Promotion Scheme, 2019” (RIPS-2019) (hereinafter referred to as “the Scheme”) to provide benefits [...]

38th Meeting of the GST Council

Highlights of 38th GST Council Meeting 1. Due dates extended for GSTR-9 and GSTR-9C for FY 2017-18 till 31 January 2020 The due date of GSTR-9 and GSTR-9C are extended further till 31 January 2020 from the earlier date of 31 December 2019. It was done to allow more time for […]

Reverse Charge Buying from URD Dealers

Reverse Charge Mechanism (in case of supplies made by unregistered persons to registered persons) made applicable vide Notification No. 13/2017- Central Tax (Rate) dated 28th June, 2017 deferred to 30th september 2019 vide Notification No. 01/2019 – Central Tax (Rate) dated 29th January 2019 and will apply starting from 1st October […]

37th GST Council Meeting Highlights

Decisions at 37th GST council meeting The meeting concluded with several decisions ranging from relaxations in annual return filing, rate revisions, deferment of new GST returns, changes to composition scheme, new GST exemptions and some clarifications detailed as follows: Waiver of GSTR-9A for Composition Taxpayers for FY 2017-18 & FY 2018-19Composition […]

New Composition GST Return CMP-08

1.What is Form CMP-08? A composition dealer will use the Form CMP-08, which is a special statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter. It also acts as a challan for making payment of tax. A composition dealer is a dealer who has […]

Budget 2019 Highlights

No change in personal income tax rates  Inter change ability of PAN and Aadhar for ease and convenience of taxpayers! Income Tax return can be filed using Aadhar Number!! Petrol, diesel to get pricier: Govt hike custom duty by Rs. 1 on fuel, Duty hike on gold and precious items also. Interest […]