GST E-Invoicing has been reduced to Rs. 5 Crore starting from August 1, 2023
SYNOPSIS: GST E-Invoicing has been reduced to Rs. 5 Crore starting from 1st August, 2023. This limit was reduced via notification issued by the central board of indirect taxes and customs (CBIC). The Central Board of Indirect Taxes and Customs (CBIC) has issued notification No. 10/2023 –Central…
GSTN Introduces New facility to verify document Reference Number (RFN)
SYNOPSIS: GSTN introduces new facility – New facility to verify document Reference Number (RFN) mentioned on offline communications issued by State GST authorities GSTN Introduces new facility: The GST portal (“System”) generates various documents, such as notices/ orders, etc which are communicated to the taxpayer. Most such…
CBIC reduces late fees under section 47 in GST: Notification no. 07/2023
SYNOPSIS: As per the recommendation of GST council, CBIC reduces late fees under section 47 vide notification no. 07/2023. If an aggregate turnover of up to five crore rupees in the relevant FY – Twenty-five rupees per day. If an aggregate turnover of more than five crores…
Loading…
Something went wrong. Please refresh the page and/or try again.
CBDT Issues Clarification regarding provisions relating to charitable and religious trusts – reg.
The Central Board of Direct Taxes (CBDT) has recently issued a clarification regarding the provisions related to charitable and religious trusts. This clarification aims to address certain confusions and misconceptions about the provisions and guidelines related to these trusts. The CBDT has clarified that the assessments and investigations of charitable and religious trusts will be…
ITR 1, 4 filing started offline AY 2023 -24: CBDT enabled Excel Offline Utility for ITR-1, 4 for FY 2022-23
SYNOPSIS: ITR 1, 4 filing started offline for assessment year 2023-24. Now the taxpayers can file their income tax return (ITR) for the assessment year 2023-24, financial year 2022-23 using offline utility. ITR 1, 4 filing started offline AY 2023 -24: the Central Board of direct taxes (CBDT) has enabled Excel Offline Utility for Preparing and…
PAN will become inoperative as per new rule 114AAA
SYNOPSIS: Pan will become inoperative if not linked with Aadhar. Consequences of inoperative pan – No Income Tax Refund will be issued, No interest on income tax refund, TDS will be deducted at higher rates, the pan will become inoperative from 1st July, 2023. If you haven’t linked pan with Aadhar then do link now.…
Loading…
Something went wrong. Please refresh the page and/or try again.
New Definition of Small Company – Section 2 (85)
New Definition of Small Company: The Ministry of Corporate Affairs (MCA) has issued notification regarding the Companies (Specification of Definition details) Amendment Rules 2022. Rule 2(1)(t) as inserted by the Companies (Specification of Definition details) Amendment Rules 2022: ParticularsOldNewPaid up Share Capital; and2 Crore4 CroreTurnover 20 Crore40 Crore Not ExceedDefinition of Small company Read the…
ICSI Request for extension of time limit for filing of DIR-3 KYC-reg.
MCA 2021 September 28, 2021 Shri Rajesh Verma, IASSecretaryMinistry of Corporate AffairsGovernment of IndiaShastri BhawanDr. Rajendra Prasad RoadNew Delhi -110001 Subject: Request for extension of time limit for filing of DIR-3 KYC-reg. Respected Sir We would like to draw your kind attention to the provisions of Rule 12A of the Companies (Appointment and Qualification of…
MCA – Clarification on offsetting the excess CSR spent for FY 2019-20
MCA – Clarification on offsetting the excess CSR spent for FY 2019-20 E-file no. CSR-01/4/2021-CSR-MCAGovernment of IndiaMinistry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan,Dr. R. P. Marg, New Delhi-110001Dated: 20th May 2021 Circular To,All concerned stakeholders. Subject: Clarification on offsetting the excess CSR spent for FY 2019-20 – reg. Madam/ Sir, Keeping in…
Loading…
Something went wrong. Please refresh the page and/or try again.