Facility to file nil GSTR-3B through an SMS is now available. Filing of Form GSTR-3B is mandatory for all normal and casual taxpayers, even if there is no business activity in any particular tax period.
RBI has released a discussion paper on the 12th June 2020, on 'Governance in Commercial Banks in India' for public comments.
40th GST Council Meeting was chaired by FM. Late fees on GSTR-3B for taxpayers with nil tax liability waived off
CBIC clarified that the remuneration paid to independent directors, or that director who are not employees of the said company, is taxable in hands of the company, on a reverse charge basis.
Relaxations from certain provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in respect of Further Public Offer (FPO's)
COVID emergency credit facility is for all companies and not for MSMEs only
Traders may be allowed to get registered as MSME under the MSMED Act, 2006 via udyogaadhaar Registration.
MSME new definition was given by the FM while giving the details of the Economic Relief Package. MSME new definition will take effect from 1st of July 2020.
MSME new definition applicable w.e.f 01st July, 2020 notified by MSMED
The definition of MSMEs has been further revised. The definition for medium enterprises has been revised upwards to an investment of Rs 50 crore and a turnover of Rs 250 crore.
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools