After liberalization occurred, the government has enacted the Foreign Exchange Management Act, 1999 (FEMA). This act deals with the requirement of foreign exchange in the country. After bringing out the foreign exchange management act, the government of India has considered many changes in the amount…
The Institute of Chartered Accountants of India (ICAI) issued an advisory on 29th May, 2020 for its Members and Companies to whom CSR provisions under Companies Act, 2013 applies. In this advisory ICAI States that: Wherever the company undertakes the CSR activity through a third…
The Goods and Services Tax Council is likely to meet in mid-June after repeated demands from States anxious for their GST compensation dues which have been pending since December. However, information on GST revenue since March — which is likely to see a sharp fall…
CBIC has uploaded Rules Part-B (Forms) amended upto 5th May, 2020 Click here to download Forms Note: This updated version of the Rules as amended upto 3rd April, 2020 has been prepared for convenience and easy reference of the trade and industry and has no…
CBIC has uploaded latest rules amended upto 5th May, 2020 Click here to download Rules Note: This updated version of the Rules as amended upto 3rd April, 2020 has been prepared for convenience and easy reference of the trade and industry and has no legal…
CBIC vide Circular Number 26/2020 dated 29th May, 2020 has clarified following broadly The Board has decided to further extend the facility of accepting undertaking in lieu of bond till 15th June, 2020 The Date of Submission of Bond In lieu of which the undertaking…
In this Write-up we shall be discussing about State Code and its relevance in GST Law and GST Compliance. State Code forms and integral part of GSTIN, in the Pre-GSTIN Regime also state codes were the pre-fix to Taxpayer Identification Number (TIN) of VAT Registrations. …
Under The Finance Act 2020, i.e. in Budget 2020 it has been announced that New Section 285BB will be incorporated in the Income Tax Act so as to facilitate more information in Form 26AS pursuant to this previous section 203AA shall be omitted/deleted from the…