In order to attract MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits, the CBIC has relaxed the compliance criteria provided the MSMEs have a valid certificate from their line-Ministry.
The Chartered Accountants Association, Surat has written a representation letter to the Ministry of Finance stating their Resentment towards FMO's Approach on Direct-Indirect Taxes & Corporate Affairs.
The Direct Tax Committee of ICAI has further requested the Ministry of Finance to extend the due dates for various Income Tax Returns and Tax Audit Reports to 31st March 2021, including various TDS and TCS Compliances.
The Income Tax Department has issued a clarification that they are working on the changes of File Validation Utility and the taxpayers are requested to wait for some time.
The Central Board of Direct Taxes, via their official Twitter handle, has released the amount of refund that has been issued to 1.41 crore taxpayers, including the break-up of such a refund.
Over the past couple of days, various taxpayers reported that the due date for filing GSTR-1 for Oct-Dec 2020 period is being shown as 31.01.2021 on the GST Portal, while the actual due date is 13.01.2021.
The Chamber of Tax Consultants has written a representation letter to the Ministry of Finance and CBDT to adopt a humane approach in handling the extension of due dates.
The Income Tax Department has released a calendar in order to make the tax journey of taxpayers easier. This has been done as part of the Income Tax Department's ‘Transparent Taxation- Honoring The Honest’ initiative wherein, taxes are made untaxing.
The Central Board of Indirect Taxes and Customs has eased the accreditation requirements for MSMEs AEO T1 & T2 certification, which further offers them 9 exclusive benefits.
The Central Board of Indirect Taxes and Customs, via their official Twitter handle, has released a poster, explaining the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, which is made applicable w.e.f 1st January 2021 onwards.
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