Govt. Imposes 200% Customs Duty on Imports from Pakistan: CBIC Notification
CBIC has notified that Govt. has imposed basic custom duty of 200% on all imports from Pakistan by inserting a new tariff item ‘9806 00 00’ in chapter 98 …
ICAI Withdraws Clarification on Applicability of ‘Rotation Principles’ for a Company u/s 139 of CA 2013
ICAI has withdrawn its Clarification dt. 29 Jan. 2019 on ‘whether Rotation Principles are Applicable for a company which ceases to fall under purview of Section 139 of the …
GST TCS Return (GSTR-8) Due Date Extended from 31 Jan. to 7 Feb. 2019(Oct./ Nov./ Dec. 2018): CBIC
CBIC has notified that due date for filing of GST TCS Return (GSTR-8) for the months of October, November, & December 2018 has been extended from 31/01/2019 to 07/02/2019. …
CBIC Rescinds RCM Exemption on Purchases from Unregistered Dealers upto Rs. 5,000
CBIC has notified that Exemption from tax under ‘Reverse Charge Mechanism (RCM)’ under GST stands rescinded w.e.f. 01/02/2019 in respect of Intra-state Purchases of Goods and Services from Unregistered …
GST (Compensation to States) Amendment Act 2018 notified by Govt
Govt. has notified the ‘GST (Compensation to States) Amendment Act 2018’ on 30/08/2018, making changes in various provisions of the GST (Compensation to States) Act 2017, followed with GST …
Compendium of Clarifications on ‘Ind AS Implementation’ Issues by ITFG ICAI
The ICAI’s IND AS Transition Facilitation Group (ITFG) has published a ‘Compendium (January 2019 Edition) of 132 Clarifications issued upto 31/12/2018 (Bulletin #1 to Bulletin #17)’ regarding concerns or …
UDIN is mandatory for which type of Certificates from 01/02/2019?
ICAI has made it mandatory from 01/02/2019 to register all certificates at UDIN portal and has listed the type of Certificates which are covered/ not covered under the new …
GSTR-4 (Annual Composition Return): Due Date Extensions FY 2020-21, Late Fee Waiver
GSTR-4 was required to be filed by Composition dealers on a quarterly basis upto FY 2018-29. Later the periodicity of GSTR-4 has been reset, to be filed on Annual …
CBIC Clarification on Effective GST Rate for Construction (complex, building, flat, etc.)
CBIC has issued a Press Release to clarify certain issues relating to Applicable Output GST Rates, Input Tax Credit (ITC) and Effective Tax Rate on Construction of Property, like …
No TDS u/s 194A for Income upto 50,000 in the case of Senior Citizens: CBDT Clarification
CBDT has clarified/reiterated that no tax (TDS) is required to be ‘deducted at source’ in the case of senior citizens where the amount of such income (credited or paid) …