CBDT has vide circular no.16 of 2021 dated 29.08.2021, granted relief to taxpayers by extending the due dates in certain cases. The move has been made in the light of difficulties being faced by people in filing the relevant forms on the Income tax portal. Analysis of the circular has been given below for reference.
Taxpayers under GST are mandated to declare specified digits of HSN/ SAC at the time of raising invoices with effect from 1.4.2021, in accordance with Notification No. 12/2017-Central Tax dated June 28, 2017. In case the aggregate turnover in the preceding financial year is upto INR 5 crores, the number of digits will be 4. […]
The role of budding startups in today’s economy cannot be overlooked. The cutting edge that they provide to any nation in terms of self-reliance is evident from the spew of schemes that are introduced rapidly by different countries. Atma Nirbhan Bharat portrays the significance that these startups hold today. Considering the benefits accrued in terms […]
ICDs (Inland Container Depot) and CFS (Container Freight Station) have a significant role to play when it comes to the import and export of goods. They facilitate the storage and clearance of import and export goods. These facilities are notified under the Customs Act, 1962. However, sometimes the custodian might decide to denotify them. Disposal […]
The facility of E-Way Bill generation is blocked in certain circumstances. The blocking feature was put on hold sometime back but as per GSTN Advisory, the same is supposed to resume on 15th August onwards in the following cases: Failure to file GSTR-3B for two or more consecutive tax periods, or Failure to file Statement […]
RBI has lately released circulars which will be having a bearing on transactions undertaken by customers from July month onwards.The changes incorporated as well as certain benefits extended by means of these circulars pertain to: 1. Small Savings Schemes 2. Interest on Matured Term Deposits 3. Interest Equalization Scheme Analysis of same has been provided […]