The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 29/2021 – Central Tax dated 30th July 2021 appoints the 01st August 2021 as the date on which the provisions of sections 110 and 111 of the Finance Act, 2021 shall come into force. Section 110 of the Finance Act, 2021 omitted
The Central Board of Direct Taxes (CBDT) vide its Notification No 83/2021 dated 29th July 2021 removes certain rules and forms from the Income Tax Act, 1961 by inserting Rule 130 Ommission of certain rules and forms and savings. Rules Removed: Rules 5A, 5AB, 6ABB, 12B, 12BA, 16D, 16DD, 16E, 16F, 18B, 18BB, 18BBA, 18DD,
AMENDMENT TO THE GUIDELINES FOR TECHNICAL STANDARDS FOR THE PERFORMANCE OF CORE SERVICES AND OTHER SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INFORMATION UTILITIES) REGULATIONS, 2017 In exercise of the powers conferred by section 196 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby
GSTN has implemented a new functionality on taxpayers’ dashboards with the following features: •The taxpayers can now see the exact Annual Aggregate Turnover (AATO) for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. •The taxpayers can also see the Aggregate Turnover of the current FY based on
The issue before the Appellate Authority for Advance Ruling, Kerala (‘AAAR’) was the taxability of discounts reimbursed by Castrol India Limited to its authorized dealer (i.e. ‘the Appellant’), against supplies made by the Appellant at a discounted price to its customers. Facts of the case: M/s Santhosh Distributors (‘Appellant’) an authorized dealer of Castrol India
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 157/13/2021 – GST dated 20th July 2021 issues clarification with respect to the extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27th April 2021. Circular No. 157/13/2021-GST File No: CBIC-20006/10/2021 Government of India Ministry of Finance
MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No 37/2021 – Customs New Delhi 19th July 2021 G.S.R. 494(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to
CMINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No 36/2021 – Customs New Delhi 19th July 2021 G.S.R. 493(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to
The Central Board of Direct Taxes (CBDT) vide its Press Release dated 20th July 2021 further extends the electronic filing of Income Tax Forms 15CA/15CB till 15th August 2021. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 20th July, 2021 PRESS RELEASE CBDT grants further relaxation in
The Central Board of Direct Taxes (CBDT) vide its Notification No 77/2021 dated 07th July 2021 amends the rules relating to computation of short term capital gains and written down value under section 50 where depreciation on goodwill has been obtained by inserting Rule 8AC. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT
