Delinking of Credit Note/Debit Note from invoice, while reporting them in Form GSTR 1/GSTR 6 or filing Refund

Till now, original invoice number was mandatorily required to be quoted by the taxpayers, while reporting a Credit Note or Debit Note in Form GSTR-1 or Form GSTR-6. The taxpayers have now been provided with a facility on the GST Portal to: Report in their Form GSTR-1 or in Form GSTR-6, single credit note or …

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New provision – TCS on Goods Sold (Tax On Purchase)

The Finance Act,2020 has introduced a new provision for Tax Collection at Source (TCS) u/s. 206C(1H) of the Income tax act,1961. This is w.e.f. 1st Oct 2020. As per this provision, Tax has to be Collected at source (TCS) in respect of Sale of Goods @ 0.1% on the consideration received on sale of such …

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Extension of time for Annual General Meeting for Companies

In view of the Carona Pandamic, the due date for conducting Annual General Meeting in respect of Companies governed by Companies Act 2013 has been deemed to have been extended for a further period of 3 months (till 31st Dec 2020). Accordingly, since all the Registrars are empowered to provide this extension, all the Registrar …

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Contribution to PM CARES fund – eligible as CSR Spending

The MCA , vide its Gazette Notification No GSR 313(E) dtd 26th may 2020 has made a significant change in the CSR Spending claims w.r.t. Contribution to PMCARES fund. As per this notification, the PM CARES fund is eligible to receive contributions from corporate social responsibility (CSR) corposus of Corporates. Accordingly, changes have been made …

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GST FILING & COMPLIANCE – RELAXATION DUE TO OUTBREAK OF COVID 19

Due to the Covid 19 outbreak and the related Lockdown, the Government has announced various relaxation in Compliances relating to GST Filing and Compliances and notifications in this regard were issued vide Notication Nos 30/2020 CT to 36/2020, providing various reliefs. Points to Note :- There is no Change in the last date of filing …

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