Rule 59(6) of CGST Rules,2017 providing for restriction in the filing of GSTR-1 has been inserted by CBIC which will be implemented on the GST Portal from 1st September 2021.
There are various monetary limits u/s Sec 44AA, 44AB and Sec 44AD relating to maintenance of books of accounts and audit. These provisions have created ambiguity among taxpayers and professionals.
CBDT, in exercise of its power u/s 119 of the Income-tax Act, 1961 has issued a circular w.r.t. Extension of timelines for electronic filing of various Forms under the Income-tax Act, 1961.
CBDT has announced an extension in the electronic filing of various forms under the Income Tax Act on 29th August 2021. Same has been discussed in a tabular format in this article.
CBIC extends the timeline for filing of the application for revocation of cancellation of registration and late fee amnesty scheme while also amending Form GST ASMT-14 via CGST (Seventh Amendment) Rules, 2021.
Forensic Accounting is an area of accounting that investigates frauds or financial manipulation in financial information. This enables lawyers and accountants in criminal proceedings of the fraud.
As we are entering into September, certain activities are to be done w.r.t GST returns for the FY 2020-21. This month is the last choice to make corrections in GST returns relating to sales or purchases.
Managers should standardize processes and automate them when possible to achieve optimal performance, higher productivity, and bottom line profits. Let us get a deeper understanding of process standardization.
Input tax credit is the backbone of GST as it ensures the critical feature of taxing on value addition in the supply chain. Any action of denying ITC would lead to a cascading effect and kills the soul of GST.
Situations, whether good or bad won't last forever. We have survived our nightmares. Tell it to yourself that yes you can and you will survive it too. Things will change for the better if you don't give up.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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