In light of market events due to CoVID-19 pandemic, SEBI, vide Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/58, dated March 30, 2020, extended the due date for regulatory filings for AIFs and VCFs for the periods ending March 31, 2020 and April 30, 2020. A need has been felt…
Functionality In a major move towards taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS. Impact and Outreach This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to…
CUSTOM CIRCULARS Extension of validity of Authorized Economic Operator (AEO) certification for case of renewal process Validity of all AEO certificates expired or expiring between March 01, 2020 and May 31, 2020 has been extended to June 30, 2020. However, extension in respect of entities…
TRADERS REGISTRATION AS MSME’S – POSSIBLE SOON ?? During a meeting of Shri Nitin Gadkari, Union Minister for MSME and Road Transport and Highways with the representatives of Council of Leather Export, FICCI-‘NBFC Program’ and IMC Chamber of Commerce and Industry on impact of COVID-19…
What is SEIS ? Exporter of certain Services are given incentives in form of Duty Credit Scrip which are freely transferable. These incentives are given to offset infrastructure and associated costs involved. Duty credit Scrip’s (herein after referred to as ‘scrips’) can be used for…
Sources and Credits: MSME Website What is the definition of MSME? The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: MSMEs will now…
Finance Minister Smt. Nirmala Sitharaman officially launched facility of instant Permanent Account Number (PAN) allotment using Aadhaar based e-KYC on May 28, 2020. Through this facility PAN will be allotted on near to real time basis. This facility is paperless and free of cost. The…
ITR-1 form for A.Y. 2020-21 released for e-filing by Income Tax Department. What is Income Tax Filing Process? Income Tax Filing is the process of declaring your taxable income, deductions and tax payments for the applicable financial year. What is the due date for ITR…