CBIC notifies that Sections 35 and 44 of CGST Act are proposed to be amended in Finance Bill 2021. However, these proposals will come into effect from a date to be notified later. For FY 2019-20, the existing provisions shall continue.
Taxpayers are hereby advised not to wait for the complete auto-population, and instead proceed with preparation and filing of GSTR-1 (by the due date), based on actual data as per their records.
GST Audit scrapped as Budget omits section 35(5) from GST Act to allow self-certification. Here is the updated amendment.
The GST revenues during January 2021 are the highest since the introduction of GST and has almost touched the Rs. 1.2 lakh crore mark, exceeding the last month’s record collection of Rs. 1.15 lakh crore.
Capital Expenditure for April to December 2020 stands at 3.14 Lakh Crore which is 24% higher than corresponding period of previous year
Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics
WMTA had called for an All India Protest on 29th January 2021, outside CGST Office in Each District/City of Whole India against the rigid approach of the Central Government, in not extending the due dates for filing GST Returns.
CAAS has written a representation letter to the PM Shri Narendra Modi, expressing their dissent over actions and approach of FMO with relation to GST, Income Tax, MCA etc. The letter also contains their demands in these areas.
A total amount of Rs.78,000 crore released so far to all States and UTs with the legislature. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States.
The Institute of Cost Accountants of India has released a notification inviting E-Tenders under single stage two-part system for the empanelment and selection of GST Auditor for Financial Year 2019-20 for 18 GSTIN in 17 states.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
