Recent News
Are you aware about the changes in Income Tax Return?
Tax season generally coincides with monsoon, unlike the latter, the former is not a season that taxpayer look forward to. Taxation by itself is complex. For the layman, it gets even more so when they have to file their ITR. The ITR forms are complicated as there are...
read moreInception of Manual Checks in IGST Refunds
In a bid to minimize tax fraud using bogus invoices, the CBIC introduces ‘Manual Check’ for its customs and GST formation before the issuance of IGST refunds. However the notion was perceived as a setback to the automated refund process by many creating a misleading...
read moreGST RISK SCORES and AUDIT PARAMETERS
The Revenue department has come out with the first audit exercise under the GST System, two years after its launch, a plan to audit accounts of registered business based upon their risk parameters. The risk parameters of businesses are based upon the history of tax...
read moreGST ANNUAL RETURNS
GSTR-9 is the GST Annual return that has to be filed under the GST laws every year. It must be filed by the GST registered taxpayers (including those registered under composition levy scheme). It consists of details regarding the outward and inward supplies...
read morePROCEDURE FOR RELEASE OF DETAINED GOODS UNDER GST – CA DINESH BATRA
Procedure for Release of Goods Detained by the GST Officer while in transit. Please see the video till the end to understand the mechanism which is prescribed under the law to detain the goods and also the ways to get it released by representing before the Department...
read moreTaxpayers can now compare tax liability declared in final, summary GST returns forms
The GST Network informed businesses registered under GST can now compare the tax liability declared as well as input tax credit claimed in their final and summary sales returns forms. The GSTN, which handles the technology backbone for the new indirect tax, has...
read moreGSTN develops system to fetch e-way bill data into monthly sales returns
Now, businesses supplying goods worth more than ₹50,000 will have option to include details of e-way bills generated while filing the final monthly sales return under GSTR-1, a move aimed at curbing tax evasion by reporting different sets of supplies data. “Matching...
read moreSupreme Court Rules Verdict In Regard To Employees’ Provident Fund
In what can be said to be a great development for Employees’ Provident Fund, the Supreme Court recently ruled a verdict which will now disallow companies from exempting special allowance from the basic salary. Therefore, they will have to include the special allowance...
read moreCOMPANY GEO-TAGGING IDENTITIES AND VERIFICATION IN eFORM ACTIVE INC 22A
Form_INC-22A(Click here to Preview Blank Form) After KYC of the Directors of the Company, MCA has issue notification on 21.02.2019, and amend the Companies (Incorporation) Amendment Rules, 2019, wherein These rules shall come into force from 25.02.2019. Insertion of...
read moreGSTAT (Goods and Services Tax Appellate Tribunal)
The Ministry of Finance has notified the Creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) at New Delhi with effect from 14th March 2019. It will be presided over by the President and shall consist of one technical member (Centre)...
read moreKey Highlights of the Interim Budget 2019-20
The Interim Budget presented by Piyush Goyal is the last Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May 2019. The key highlights of Interim Budget 2019 are as follows:- The Simplification of Direct Tax system...
read moreLegal Entity Identifier (LEI) codes
The LEI code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the global financial crisis. “The Reserve Bank of India (RBI) has decided to make Legal Entity Identifier (LEI) code...
read moreRBI hikes interest subsidy for MSMEs exporters to 5%
To boost MSME sector exports the interest subsidy on post and pre-shipment export credit has been increased to 5% from 3%. Exporters get the subsidy under the ‘Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit’. “It has been decided by the...
read moreRBI eases Overseas Borrowing Limits
The Reserve Bank has eased norms for companies in the manufacturing sector in raising overseas funds and allowed Indian banks to market masala bonds in line with the government’s measures to prop up the rupee. Liberalisation of the external commercial borrowing (ECB)...
read moreD. Batra & Co.
6/24, East Patel Nagar,
New Delhi – 110008
India
P: +91-11-45672150, +91-11-45672111
M: +91-98110 45213
GENERAL LINKS
FOLLOW US