27 Apr 2021

Critical changes in ITR Forms for A.Y 2021-22

By Authored by CA Manish Gupta
Category Income Tax
Views 363

ITR-1 cannot be filed in cases where tax has been deducted u/s 194N:
Section 194N provides that the tax is mandatorily required to be deducted if the amount of cash withdrawn during the year from a banking company or co-operative bank, or post-office from one or more accounts maintained by the taxpayer exceeds

26 Apr 2021

Government extends specific Direct Tax timelines in light of the raging pandemic

By Authored by CA Manish Gupta
Category Income Tax
Views 220

In light of the COVID-19 pandemic raging unabated across the country, and because of requests received from the taxpayers, tax consultants and other stakeholders to further extend various Direct Tax due dates, the Government has decided to extend specific timelines vide Press Release dated April 24 2021.

22 Apr 2021

CBIC withdraws the customs duty on imports of COVID-19 Drug

By Admin
Category Miscellaneous
Views 315

The Central Board of Indirect Taxes & Customs (CBIC) has waived off the custom duty on imports of Remdesivir and active pharmaceutical ingredients used in the manufacturing of COVID-19 drug until October 31, 2021 [vide Notification No. 27/2021 – Customs dated April 20, 2021].

15 Apr 2021

ADVANCE RULING

By Admin
Category Goods and Service Tax
Views 620

"GST is not applicable on the amount recovered from the employees for canteen services."
[Citation: M/s Amneal Pharmaceuticals Private Limited, Gujarat Appellate Authority for Advance Ruling dated March 8, 2021 (GUJ/GAAR/APPEAL/2021/07)]

13 Apr 2021

Option to upload e-KYC documents or authenticate Aadhar card enabled on GST Portal

By Admin
Category Goods and Service Tax
Views 1418

Recently, the GSTN has enabled 12-digit Aadhaar number authentication or eKYC to introduce verification of taxpayers registered on the GST Portal for the existing taxpayers. Suppose a 12-digit Aadhaar number is available. In that case, the Primary Authorized signatory & one person (Proprietor/Partner/Director /Managing Partner/ Karta) of the registered entity can go for Aadhaar Authentication.