Taxmann Review Bulletin: A quick review of important Taxes & Laws updates reported on Taxmann.com
1. Ordinance 2020: New due dates for compliances under the income-tax Act
2. Ordinance 2020: New interest rates on delayed payment of taxes:
3. Ordinance 2020: Deduction under Section 80G in respect of
contribution to ‘PM CARES Fund
4. Ordinance 2020:New due dates for compliances in
Indirect Tax Laws
Summary of Recent Notifications & Circulars in GSTPriyank Shah
In wake of COVID-19 crisis, the Govt. has issued various notifications for the benefit of tax payers and also circulars for clarifications related to those notifications and issues in implementation of GST Law. We have provided a gist of those notifications and circulars.
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
- for subscription please email at cslalitrajput@gmail.com
Summary of announcements made by Hon'ble Finance Minister on 24th March 2020 regarding extension of due dates and other relaxations in compliances pertaining to Income Tax & GST.
Summary of Recent Notifications & Circulars in GSTPriyank Shah
In wake of COVID-19 crisis, the Govt. has issued various notifications for the benefit of tax payers and also circulars for clarifications related to those notifications and issues in implementation of GST Law. We have provided a gist of those notifications and circulars.
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
- for subscription please email at cslalitrajput@gmail.com
Summary of announcements made by Hon'ble Finance Minister on 24th March 2020 regarding extension of due dates and other relaxations in compliances pertaining to Income Tax & GST.
Happy New Year 2017
For Lunawat Monthly Bulletin – January 2017 click at http://lunawat.com/Uploaded_Files/Attachments/F_3529.pdf
The same is also available on www.lunawat.com as well as on free Mobile App ‘LUNAWAT’ available through playstore.
I hope the same shall be of use to you.
Warm Regards
CA. Pramod Jain
Corporate compliance calendar april 2020Lalit Rajput
ABOUT ARTICLE :
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
If you think compliance is expensive, try non‐ compliance”
Compliance Requirement Under
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST) & 39th GST Council Meeting Updates
3. Other Statutory Laws
4 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018 and Circulars / Notifications
10. Companies Act, 2013 (MCA/ROC and LLP Compliance) and Notifications
11. ICSI Updates on e-CSIN
12. . MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSME)
13. Insolvency and Bankruptcy Board of India (IBBI) Updates
Corporate compliance calendar march 2020Lalit Rajput
Corporate Compliance Calendar for the month of March, 2020.
This article includes various Compliances related to various Laws.
Compliance Requirement Under
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST)
3. Other Statutory Laws
4 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018 and Circulars / Notifications
10. Companies Act, 2013 (MCA/ROC and LLP Compliance) and Notifications
11. Investor Education and Protection Fund
12. ICSI Updates on e-CSIN
13. Ministry of Labour & Employment Update
14. Insolvency and Bankruptcy Board of India (IBBI) Updates
As the prescribed due date for furnishing of TDS statement for the Quarter 1 of the Financial Year 2020-21 is around the corner, that is, July 31, 2020, there is a chaos to know about the applicable due date. Whether it will be the original due date of 31-07-2020 as per Rule 31A or 31-03-2021, the due date extended for all compliances (falling between 20-03-2020 to 31-12-2020) by the Notification No. 35/2020, dated 24-06-2020. We have tried to solve this controversy in this write-up
Section 206AA – Rule 37BC
Central Board of Direct Taxes vide Notification No. 53/2016 dated 24.06.2016 has amended the Income Tax Rules, 1962 by inserting a new Rule 37BC through the IT (17th Amendment) Rules, 2016.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
Major Announcements by GST Council in 31st Meeting on 22th DecCA PRADEEP GOYAL
All in one document
Seven Press Releases issued by CBIC pursuant to the
31st meeting of the GST Council on 22nd December,
2018
• Major Announcements with regards to rates,
returns, refunds, composition scheme etc made
Can I file my ITR for FY 2020-21 after 31stDecember 2021? What is a belated return? What is the penalty for late filing of return?Till when can I file the belated return?
Corporate compliance calendar august 2019 by PCS Lalit RajputLalit Rajput
This article contains various Compliance requirements
under Statutory Laws. Compliance means “adhering to
rules and regulations.”
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST)
3. Other Statutory Laws
4. Foreign Exchange Management Act, 1999 (FEMA)
5. SEBI (Listing Obligations And Disclosure Requirements)
(LODR) Regulations, 2015
6. SEBI (Depositories and Participants) Regulations 1996)
7. SEBI Takeover Regulations 2011
8. SEBI (Prohibition of Insider Trading) Regulations, 2015
9. Companies Act, 2013 (MCA/ROC)
10. Links for some Important Articles
OBJECTIVE
The deadly virus COVID-19 has already started to impact the economy. In view of fighting against the effects of the pandemic on the nation, the Ministry of Finance of India has come up with certain relief measures to tackle the economic situation and measures with regard to statutory and compliance requirements. In this Webinar, we will be learning about the various tax and economic measures taken by the Government of India to aid the nation during the lock down period.
Happy New Year 2017
For Lunawat Monthly Bulletin – January 2017 click at http://lunawat.com/Uploaded_Files/Attachments/F_3529.pdf
The same is also available on www.lunawat.com as well as on free Mobile App ‘LUNAWAT’ available through playstore.
I hope the same shall be of use to you.
Warm Regards
CA. Pramod Jain
Corporate compliance calendar april 2020Lalit Rajput
ABOUT ARTICLE :
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
If you think compliance is expensive, try non‐ compliance”
Compliance Requirement Under
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST) & 39th GST Council Meeting Updates
3. Other Statutory Laws
4 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018 and Circulars / Notifications
10. Companies Act, 2013 (MCA/ROC and LLP Compliance) and Notifications
11. ICSI Updates on e-CSIN
12. . MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSME)
13. Insolvency and Bankruptcy Board of India (IBBI) Updates
Corporate compliance calendar march 2020Lalit Rajput
Corporate Compliance Calendar for the month of March, 2020.
This article includes various Compliances related to various Laws.
Compliance Requirement Under
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST)
3. Other Statutory Laws
4 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018 and Circulars / Notifications
10. Companies Act, 2013 (MCA/ROC and LLP Compliance) and Notifications
11. Investor Education and Protection Fund
12. ICSI Updates on e-CSIN
13. Ministry of Labour & Employment Update
14. Insolvency and Bankruptcy Board of India (IBBI) Updates
As the prescribed due date for furnishing of TDS statement for the Quarter 1 of the Financial Year 2020-21 is around the corner, that is, July 31, 2020, there is a chaos to know about the applicable due date. Whether it will be the original due date of 31-07-2020 as per Rule 31A or 31-03-2021, the due date extended for all compliances (falling between 20-03-2020 to 31-12-2020) by the Notification No. 35/2020, dated 24-06-2020. We have tried to solve this controversy in this write-up
Section 206AA – Rule 37BC
Central Board of Direct Taxes vide Notification No. 53/2016 dated 24.06.2016 has amended the Income Tax Rules, 1962 by inserting a new Rule 37BC through the IT (17th Amendment) Rules, 2016.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
Major Announcements by GST Council in 31st Meeting on 22th DecCA PRADEEP GOYAL
All in one document
Seven Press Releases issued by CBIC pursuant to the
31st meeting of the GST Council on 22nd December,
2018
• Major Announcements with regards to rates,
returns, refunds, composition scheme etc made
Can I file my ITR for FY 2020-21 after 31stDecember 2021? What is a belated return? What is the penalty for late filing of return?Till when can I file the belated return?
Corporate compliance calendar august 2019 by PCS Lalit RajputLalit Rajput
This article contains various Compliance requirements
under Statutory Laws. Compliance means “adhering to
rules and regulations.”
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST)
3. Other Statutory Laws
4. Foreign Exchange Management Act, 1999 (FEMA)
5. SEBI (Listing Obligations And Disclosure Requirements)
(LODR) Regulations, 2015
6. SEBI (Depositories and Participants) Regulations 1996)
7. SEBI Takeover Regulations 2011
8. SEBI (Prohibition of Insider Trading) Regulations, 2015
9. Companies Act, 2013 (MCA/ROC)
10. Links for some Important Articles
OBJECTIVE
The deadly virus COVID-19 has already started to impact the economy. In view of fighting against the effects of the pandemic on the nation, the Ministry of Finance of India has come up with certain relief measures to tackle the economic situation and measures with regard to statutory and compliance requirements. In this Webinar, we will be learning about the various tax and economic measures taken by the Government of India to aid the nation during the lock down period.
Newsletter on daily professional updates- 01/04/2020CA PRADEEP GOYAL
“True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself."
Presenting Daily dose of professional updates dated 01.04. 2020. This is 200th edition and 1st Newsletter of Financial Year 2020-2021
The finance minister, Nirmala Sitharaman, at
a press conference dated 24th March 2020
has announced that taxpayers can complete
their tax-saving exercise and statutory
compliances for FY 2019-20 till June 30,
2020. The earlier deadline was March 31,
2020. It’s a big relief to the Taxpayers given
by the government.
Notifications & Circulars - GST - 9th & 10th June 2020Priyank Shah
The government has issued a few notifications and circulars on 9th & 10th June 2020, ahead of the GST Councils meet on 12th June 2020. We have summarized the said notifications and circulars for simple understanding.
Corporate Compliance Tracker _ May 2020 _ LRLalit Rajput
ABOUT ARTICLE :
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
If you think compliance is expensive, try non‐ compliance”
Compliance Requirement Under
1. Companies Act, 2013 (MCA/ROC Compliance)
2. Goods & Services Tax Act, 2017 (GST)
3. Income Tax Act, 1961
4 Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. Other Statutory Laws
6. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
7. SEBI Takeover Regulations 2011
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018
10. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications
11. Insolvency and Bankruptcy Board of India (IBBI) Updates
Corporate Compliance Calendar February 2020Lalit Rajput
Corporate Compliance Calendar for the month of February 2020.
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
We have summaries the important GST dates and the forms applicable under GST regime including relaxations given by government considering COVID19:
1 DUE DATES OF RETURN FILING GSTR 3B
2 INTEREST LIABILITY FOR FILING FORM GSTR-3B
3 DUE DATES OF FILING RETURNS
4 OPT IN FOR COMPOSITION IN FY 2020-21
5 Recommendation of 40th GST Council Meeting dated 12th June 2020
Corporate compliance calendar _ January 2020Lalit Rajput
Corporate compliance calendar for the month of January 2020
ABOUT ARTICLE :
This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.”
Compliance Requirement Under
1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST)
3. Other Statutory Laws
4 Foreign Exchange Management Act, 1999 (FEMA)
5. SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. SEBI (Prohibition of Insider Trading) Regulations, 2015
8. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
9. SEBI (Buyback of Securities) Regulations, 2018
10. Companies Act, 2013 (MCA/ROC and LLP Compliance)
11. Investor Education and Protection Fund
12. ICSI Updates on e-CSIN
Newsletter on daily professional updates- 08/04/2020CA PRADEEP GOYAL
“Ideas are knowledge.
When we share knowledge in the written or verbal form, amazing things can happen.”
Here is your Daily dose of professional updates 08.04.2020
Important highlights of direct and indirect tax updates by finance minister o...ASC Group
Extension of Due Dates for Various Compliances /notices/orders/appeals/reports/any other document by taxpayer where the due date was between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020, and all Investments/ Saving Instruments for rebates can be made by 30th June 2020.
For more detail visit our website: https://www.ascgroup.in/
Filing dates extended for providing relief to taxpayers in view of covidVimal Saini
COVID-19 on GST
Since we all knows due to Covid19 all world including our India is in terror of serious attack of this Global Mahamari. This is the first time in my lifetime i found India is totally locked up, Railway is totally locked up, all shops markets and even educational institutions are closed.
Due to this lockdown in India, major impact on all businessmen are zero sales, zero collections, intact fixed expenses such as salaries, rent, interest on loan and other fixed charges. Inspite of this, businessmen have to comply all tax compliances such as payment of TDS, GST and filing of their respective returns. In this document we shall discuss some changes and relaxation given by the Government in due dates for payment and filing of returns under GST (Goods and Services Tax) which are as follows:
Summary of important dates for furnishing GSTR 3BPriyank Shah
Have prepared a chart of important dates for furnishing FORM GSTR-3B for the period from February 2020 to July 2020 considering decisions in 40th Council meeting. Hope it will be helpful to all.
Compilation of CBDT Notifications & Circulars issued in July 2020ManishBhatnagar21
Below is the list of Notifications & Circulars issued by CBDT in the month of July 2020 and the same has been compiled so that you won't miss any Notifications & Circulars updates from Income Tax Department:
Similar to Taxmann Review Bulletin April 2020 (20)
GST Made Easy provides an Updated, Comprehensive & Simplified Analysis of each provision of the GST Law. The objective behind this book is that the understanding of GST should be as easy as ABC. This book provides answers to all your practical queries on GST.
The Present Publication is the 10th Edition, authored by CA (Dr.) Arpit Haldia & updated till 15th June 2021, with the following noteworthy features:
• [Focus on Analysis of Substantive Provisions of the GST Law] such as supply, time of supply, place of supply, value of supply, input tax credit, etc.
• [Guidance on all Procedural Provisions] relating to registration, composition scheme, returns, liability to pay tax, etc.
• [Coverage of Provisions of the GST Law] such as assessment, demand & recovery, refunds, e-way bill, job work, etc.
The contents of the book are as follows:
• Introduction
• An Overview of GST
• Person Liable to Pay Tax in GST
• Registration in GST
• What is Supply
• Time of Supply of Goods
• Time of Supply of Services
• Value of Supply
• Place of Supply
• Determination of Supply in the Course of Inter-State Trade or Commerce or Intra-State Supplies
• Job Work
• Invoice, Credit and Debit Notes
• Input Tax Credit
• Payment of Taxes
• Brief about Persons requiring Mandatory Registration
• Composition Levy – For Supplier of Goods and for Persons Engaged in Making Supplies Referred to in Clause (b) of Paragraph 6 of Schedule II
• Returns
• Assessment
• Refund
• Accounts and Records
• E-Way Bill
• Advance Ruling
• Composition Scheme for Services or Mixed Suppliers
• Demand and Recovery
• Penalty
• Rule 86B – Payment of 1% of Output Liability in Cash
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993Taxmann
Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993 is a comprehensive book on Securitisation & Debt Recovery Laws. It contains 'chapter-wise commentary on provisions of the following laws:
• Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act)
• Recovery of Debt and Bankruptcy Act, 1993 (RDB Act)
It also contains the Bare Act, Directions, Rules & Regulations, etc., on Securitisation and Debt Recovery Laws.
The Present Publication is the Latest Edition, authored by Taxmann's Editorial Board, amended up to July 2021, with the following contents:
• Overview of SARFAESI Act
• Enforcement of Security Interest
• Procedure for Sale of Assets
• Application, Appeals, And Penalty under SARFAESI Act
• Securitisation
• Asset Reconstruction Companies
• Registration of Transactions under SARFAESI Act
• Recovery of Debts And Bankruptcy Act, 1993
• Appendices:
o SARFAESI Act, 2002
o Rules, Regulations, and Directions under SARFAESI
o Recovery of Debts and Bankruptcy Act, 1993
o Rules under the Recovery of Debts And Bankruptcy Act, 1993
Taxmann's LLP Manual is a compendium Amended, Updated & Annotated text of the Limited Liability Partnership Act, 2008 (as amended by the Limited Liability Partnership (Amendment) Act, 2021) along with Rules, Circulars, and Notifications.
This book is divided into four divisions:
• Limited Liability Partnership Act, 2008
• Limited Liability Rules
• Circulars & Notifications
• Foreign Direct Investment in Limited Liability Partnership
The Present Publication is the 8th Edition & amended up to 13th August 2021, authored by Taxmann's Editorial Board, with the following noteworthy features:
• [List of Amendments, at a glance] made by the Limited Liability Partnership (Amendment) Act, 2021
• [Short Commentary] on the following:
◦ Limited Liability Partnership (Amendment) Act, 2021
◦ Limited Liability Partnership Act, 2008
• [Integrated LLP Rules, Circulars & Notifications, FDI Policy, FEMA Regulations]
◦ Limited Liability Partnership Rules, 2009 as amended up to date
◦ Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
◦ Text of LLP Circulars & Notifications
◦ FDI Policy related to LLPs
◦ FEMA Regulations & Schedules related to LLPs
• [Taxmann's series of Bestseller Books] on LLP Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error'
GST Investigations Demands Appeals & Prosecution aims to cover the past & emerging jurisprudence on the subject matter along with a lucid commentary on the statutory provisions under the GST Law relating to the following:
• GST Inspection
• GST Search
• GST Seizure
• GST Detention
• GST Audit
• GST Confiscation
• GST Penalty
• GST Show Cause Notice
• GST Adjudication
• GST Appeals
• GST Revision
• GST Prosecution
• GST Compounding
The objective of this book is to sensitize both taxpayers and tax officers of their rights and obligations when:
• Investigations are undertaken;
• Records and documents are seized;
• Officials from companies are summoned, and
• Statements are recorded.
This book will be helpful for taxpayers, departmental officers, members of the bar & bench, professionals and the judiciary to appreciate the intricate points and issues arising out of implementation of the relevant provisions conferring wide powers on the officers.
The Present Publication is the Latest Edition, authored by Dr. Gokul Kishore & R. Subhashree & amended up to July 2021, with the following noteworthy features:
• [Commentary/Practical Guide] This book is intended to serve as a commentary and also a practical guide to all stakeholders on the provisions and issues emerging from various orders passed by High Courts on search, summons, arrest, bail, provisional attachment, demands, penalty and confiscation
• [Analysis of the Statutory Provisions featuring Landmark Cases & Recent Orders] GST is in force for only four years. Still, instances of the use of powers of search and seizure have been increasingly visible. This book analyses the provisions along with both the landmark cases on this subject as well as the recent orders under GST law.
• [Analysis includes the Previous & Current Regime of Indirect-taxes] While arrest and prosecution powers have been in the statute book under the pre-GST tax laws, the frequency of invocation of such powers in the GST regime is high. Various orders on bail, conditions for bail and validity of arrest passed by High Courts have been discussed to comprehend the scope, limitations and interpretation of the provisions
• [Threadbare Analysis with Established Jurisprudence & Principles Evolved over the Years] Proceedings for recovery of tax commences with demand notice or show cause notice followed by adjudication order, and the dispute is carried in an appeal if either party is aggrieved. The provisions under GST law on demands, adjudication, appeals, revision and recovery action have been subjected to threadbare analysis with the help of established jurisprudence and principles evolved over the years
Taxmann's GST Law & Practice is a unique/concise book on the GST Laws (i.e., Statutory Portion & Case Laws). Coverage of the book is as follows:
• Central Goods and Services Tax Act 2017 (CGST)
• Integrated Goods and Services Tax Act 2017 (SGST)
• Goods and Services Tax (Compensation to States) Act 2017
• Classification of Goods & Services
What sets it apart is the 'unique way of presenting' the compendium of 'updated, amended & annotated' text of the CGST & SGST Acts along with relevant Rules, Notifications, Forms, Circulars, Clarifications, and Case Laws. In other words, read the Section & get the following:
• Text of the relevant Rules & Notifications
• The gist of the relevant Circulars
• Date of enforcement of provisions
• Allied Laws referred to in the provision
• Gist of relevant Case Laws with an easy-to-understand summary
This book also includes Case Laws on the classification of goods & services under the GST regime in a separate division.
The Present Publication is the 2nd Edition, amended up to July 2021, authored by CA (Dr.) Arpit Haldia & CA Mohd. Salim, with the following noteworthy features:
• [Taxmann's series of Bestseller Books] on GST Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error.'
The detailed contents of the book are as follows:
• Central Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Central Goods & Services Tax Act, 2017
◦ Removal of Difficulties Order
◦ Text of Provisions of Allied Acts referred to in Central Goods & Services Tax Act, 2017
◦ Subject Index
• Integrated Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Integrated Goods & Services Tax Act, 2017
Subject Index
• Goods and Services Tax (Compensation to States) Act 2017
◦ Arrangement of Sections
◦ Text of the Goods and Services Tax (Compensation to States) Act, 2017
◦ Subject Index
• Classification of Goods & Services
◦ Classification of Goods
◦ Classifications of Services
Ind AS Ready Reckoner is a simple & practical workbook on Ind AS [as amended by the Companies (Indian Accounting Standards) Amendment Rules 2021] to guide the members in practice/employment in their day-to-day works. This book will help the professionals cope with various developments in the accounting standards’ area, which has become complex after Ind AS has started aligning with its global counterpart.
The Present Publication is the Latest Edition, authored by CA Ravi Kanth Miriyala & CA Sunitanjani Miriyala, amended up to July 2021, with the following noteworthy features:
• [Most Updated & Amended] This book incorporates the latest amendments under Companies (Indian Accounting Standards) (Amendment) Rules, 2021
• [Practical & Lucid Explanations/Illustrations/Process Flow Charts] are provided in this book for members in practice/employment, to act as a one-stop reference manual on complex matters, without diluting the content of Standards
• [Definitions & Applications Guidance with Basis of Conclusion] are incorporated in critical chapters and wherever it is necessary to understand the reasoning
• [FAQs & Illustrative Examples] This book also incorporates FAQs of educational material issued by the ICAI and illustrative examples issued by the IASB
• [Ind AS vs AS & Ind AS vs IFRS] Covers the differences between Ind AS & AS as well as Ind AS & IFRS, at the end of every standard
GST Exports-Imports & Deemed Exports is a harmonious blend of the following laws:
• GST
• Customs
• Foreign Trade Policy
• Allied Laws
This book aims to consolidate & explain different provisions of the law and subsequent procedural changes such as Notifications, Circulars, Instructions and Trade Notices issued by CBIC and DGFT, along with relevant Advance Rulings with regards to Imports, Exports, Deemed Exports under different laws.
This book is intended to help the trade and industry dealing with exports, imports and deemed exports for compliance with the legal requirements and avail the benefits under various provisions of the Foreign Trade Policy, Customs and GST laws with better understanding and appreciation of the intricacies.
The Present Publication is the 2nd Edition, authored by Kaza Subrahmanyam & T.N.C. Rajagopalan, with the following coverage:
• [Conceptual Understanding of provisions of Imports and Exports] of Goods & Services
• [Meaning of Zero Rated Supply along with Refunds] for Physical Exports and Deemed Exports under GST
• [Treatment of supplies by and to EOU/SEZ unit or SEZ Developer/FTWZ] along with Special Exemptions/Concessions and procedural requirements
• [Foreign Trade Policy] under GST
Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws.
This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers.
This book is divided into two parts:
• Valuation of Imported Goods
• Valuation of Export Goods
The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features:
• [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007
• [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc.
• [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc.
• [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc.
This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language.
The detailed coverage of the book is as follows:
• Introduction
• Valuation of Imported Goods
◦ Transaction Value
◦ Transaction Value to be Accepted in the Absence of Condition and Restriction under Rule 3(2)
◦ Contract Prices and Transaction Value
◦ High Sea Sales and Transaction Value
◦ Related Persons
◦ Transaction Value of Identical or Similar Goods and Contemporaneous Imports
◦ Deductive Value
◦ Computed Value
◦ Residual Method
◦ Reliance on Foreign Journals indicating International Prices for Determining Assessable Value
◦ Addition to Transaction Value Royalty, Licence and Technical Know-How Fees
◦ Other Addition to Transaction Value
◦ Declaration by the Importer
◦ Rejection of Declared Value
◦ Investigation by Special Valuation Branch
• Valuation of Export Goods
◦ Export Valuation
◦ Under-Invoicing and Over-Invoicing of Exports
◦ Customs Valuation (Determination of Value of Export Goods) Rules, 2007
◦ Inclusion/Exclusion Duty Element from Cum Duty Price
◦ Valuation of Goods Sold in DTA from EOU and Debonding of Capital Goods from EOU
Taxmann's MCQs and Integrated Case Studies on Corporate & Economic LawsTaxmann
MCQs & Integrated Case Studies on Corporate & Economic Laws are prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 6th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Knowledge Based & Application Based MCQs] as per the pattern applicable for the exams
• Includes the following types of MCQs in a Separate Section in Each Chapter:
◦ RTPs & MTPs
◦ Past Exam Questions
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) 5th Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [7th Edition] of Taxmann’s CRACKER cum Exam Guide on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies + Class Notes
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• NCLT and NLCAT
• Corporate Secretarial Practice
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 | Deleted from Syllabus
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002) | Deleted from Syllabus
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
• Integrated Case Studies
Taxmann’s CRACKER for Corporate & Economic Laws is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 7th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, authored by Pankaj Garg, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [600+ Questions and Case Studies] with complete answers
• Coverage of this book includes:
• All Past Exam Questions
▪ CA Final July 2021 (New Syllabus) – Suggested Answers
◦ Questions from RTPs and MTPs of ICAI
• [Chapter-wise] marks distribution for Past Exams
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) fifth Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [6th Edition] of Taxmann’s MCQs & Integrated Case Studies on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• National Company Law Tribunal and Appellate Tribunal
• Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes & Reports
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 (Deleted from syllabus)
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002)
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
FEMA & FDI Ready Reckoner provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals.
Key features of this book are as follows:
• Topic-wise commentary on FEMA
• Analysis of all provisions of FEMA with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by Reserve Bank of India
• Law Relating to the following
◦ Prevention of Money Laundering Act
◦ Foreign Contribution (Regulation) Act
◦ COFEPOSA
The Present Publication is the 15th Edition, and it is amended up to 30th June 2021. The coverage of this book is as follows:
• FEMA – Overview
• Authorised Person under FEMA
• Account in India by Person Resident out of India
• Accounts of Indian Residents in Foreign Currency
• Receipt and Payment in Foreign Exchange
• Realisation, Repatriation and Surrender of Foreign Exchange
• Money Changing Activities
• Money Transfer Service Scheme (MTSS)
• Possession and Retention of Foreign Currency
• Export and Import of Currency or Currency Notes
• Remittances on Current Account
• Liberalised Remittance Scheme (LRS)
• Export of Goods and Services
• Import of Goods and Services
• Project Exports and Service Exports
• Foreign Exchange Rates
• Overview of Capital Account Transactions
• Foreign Investment in India
• FDI in Indian Company
• Section Wise FDI Policy at a Glance
• FDI – Downstream Investment, i.e. Indirect Investment
• FDI through Rights, Bonus, Sweat Equity or Merger/Amalgamation
• FDI – Transfer of Securities
• FDI in LLP
• FDI in GDR/ADR
• Investment by NRI or OCI
• FDI in Startup Company
• Investment by Foreign Portfolio Investors
• FDI in Investment Vehicle
• FDI by FVCI
• FDI – Investment in Securities by Funds, Foreign Central Bank, etc.
• Investment by Indian Entity in JV/WOS Abroad
• Guarantees
• Insurance
• Borrowing and Lending in Foreign Currency
• Borrowing and Lending in Indian Rupees
• Foreign Investment in Debt Instruments
• External Commerical Borrowings
• Trade Credit (TC) and Structured Obligations
• Acquisitions and Transfer of Immovable Property in India
• Acquisition and Transfer of Immovable Property out of India
• Remittance of Assets
• Branch/LO/Project Office in India by Foreign Entities
• Indian Depository Receipts
• Risk Management and Inter-Bank Dealings
• VOSTRO Account of Non-Resident Exchange Houses
• Industrial Policy of Government of India
• Enforcement of FEMA
• Penalties under FEMA
• Appeals under FEMA
• Compounding of Contraventions under FEMA
• Prevention of Money Laundering Act
• Foreign Contribution (Regulation) Act (FCRA)
• COFEPOSA, 1974
This book provides a para-wise commentary on Companies (Auditor’s Report) Order. It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO.
This book is divided into three divisions:
• CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
• CARO Report on Consolidated Financial Statements under CARO, 2020
• CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22)
This book will be helpful for Auditors
The Present Publication is the 8th Edition, amended up to 30th June 2021, authored by CA Srinivasan Anand G., with the following noteworthy features:
• [FAQs & Case Studies]
◦ CARO 2016
◦ CARO 2020
• [Amended Schedule II] Related disclosure requirements
• [Clause-wise Ready Reckoner] on CARO 2020
• Review of earlier versions of CARO to do a quick comparison(s)
• [In a Nushell] CARO 2020
• Relevant Provisions of Companies Act, 2013
Taxmann's Indian Accounting Standards (Ind AS)Taxmann
Indian Accounting Standards (Ind AS) contains the updated Indian Accounting Standards issued under the Companies (Indian Accounting Standard) Rules, 2021.
It provides a complete understanding of the definitions, entities liable to apply Ind AS, and exemptions.
The Present Publication is the 2nd Edition, authored by Taxmann’s Editorial Board, updated till 30th June 2021, with the following noteworthy features:
• [Text of Indian Accounting Standard (Ind AS)] notified under Companies (Indian Accounting Standard) Rules, 2021;
• [Guide for Definitions] in Indian Accounting Standards
• [Guide on Applicability] of Indian Accounting Standards
• [Guide on Obligations to Comply with] in Indian Accounting Standards
• [Guide on Exemptions/Relaxations] in Indian Accounting Standards
The contents of the book are as follows:
• Arrangement of Rules
◦ Short Title and Commencement
◦ Definitions
◦ Applicability of Accounting Standards
◦ Obligation to Comply with Indian Accounting Standards (Ind AS)
◦ Exemptions
• General Instructions
• Indian Accounting Standards (Ind AS)
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India.
The objective of this book is three-fold:
• Focusing on Indian Competition Law, elucidating the Indian jurisprudence and then comparing it with positions taken by European Union (EU) and the United States
• This book does not get restricted to the major provisions/broader issues of competition law but also highlights economic, technical and administrative concepts/issues that are relevant in the practical application and interpretation of competition law
• This book does not become a technical treatise but a document that a wider audience can read and understand, including lawyers, judges, academicians, lawmakers, market regulators, & entrepreneurs.
The Present Publication is the Latest Edition, authored by Adv. Gautam Shahi & Dr. Sudhanshu Kumar, amended up to 30th May 2021, with the following noteworthy features:
• [Detailed Study on Fundamental Issues] including:
o Anti-Competitive Agreements
o Abuse of Dominant Position
o Combinations (Acquisitions and Mergers)
• [Evolution of Competition Jurisprudence] in India
• [Comparitive Assessment] of major issues in Indian competition law with vis-à-vis EU, UK, and the USA
• [Exhaustive Analysis] on Rules, Regulations, Guidance issued by CCI & Case Laws decided by the CCI, COMPAT (now NCLAT), High Courts, and the Supreme Court
• [Interaction of Competition Act with other Laws] such as:
o Administrative Law
o Intellectual Property Laws
o Telecom Laws
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This book is divided into two parts:
• Law Relating to Tax Procedures (covering 25+ topics)
• Case Studies (covering 35+ topics)
The Present Publication is the 7th Edition, authored by Gabhawala & Gabhawala, as amended by the Finance Act 2021, with the following noteworthy features:
• Law Relating to Tax Procedures
◦ [Lucid Explanation, in a Practical Manner, with Checklists & necessary Tips] for the law relating to Tax Procedure
◦ [Exhaustive Coverage of Case Laws]
◦ [Fine Prints & Unwritten Lines] are explained in a lucid manner
• Tax Practice
◦ [Elaborated & Threadbare Analysis] of every aspect of Tax Practice
• Case Studies
◦ [330+ Case Studies] to deal with real-life animated situations/problems faced by tax practitioners
• Draft Replies
◦ For the Notices sent by the Department
◦ Petitions to the Department
• Drafting & Conveyancing
◦ [Complete Guide to Drafting of Deeds & Documents] covering
◦ Affidavits
◦ Wills
◦ Special Business Arrangements
◦ Family Arrangements
◦ Power of Attorney
◦ Lease, Rent & Leave and Licenses
◦ Indemnity and Guarantee
◦ Charitable Trust Deeds, etc.
The contents of this book are as follows:
• Law Relating to Tax Procedures
◦ Tax Practice
◦ Pre-assessment Procedures
◦ Assessment
◦ Appeals
◦ Interest, Fees, Penalty and Prosecution
◦ Refunds
◦ Settlement Commission – ITSC, Interim Board for Settlement
◦ Summons, Survey, Search
◦ TDS and TCS
◦ Recovery of Tax
◦ Special Procedures
◦ Approvals
◦ STT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
RTI, Ombudsman
◦ Drafting of Deeds
◦ Agreement, MoU
◦ Gifts, Wills, Family Arrangements
◦ Power of Attorney, etc.
◦ Lease, Rent, License, etc.
◦ Sale/Transfer of Properties
◦ Tax Audit
◦ Income Computation & Disclosure Standards
◦ Real Estate (Regulation and Development) Act, 2016 (RERA)
◦ E-Proceedings under the Income Tax Act, 1961
◦ Prohibition of Benami Property Transactions Act, 1988
• Case Studies
◦ Tax Practice
◦ Pre-Assessment Procedures
◦ Assessment – Principles and Issues
◦ Rectification of Mistake
◦ Revision
◦ Appeals to CIT (Appeals)
◦ Appeals to – ITAT – High Court – Supreme Court
◦ Interest Payable by Assessee
◦ Penalties
◦ Prosecution
◦ Refunds
◦ Settlement of Cases
◦ Survey
◦ Search & Seizure
◦ Tax Deduction at Source
◦ Recovery of Tax
◦ Trust, Mutuality, Charity
◦ Firm
◦ LLP – Limited Liability Partnership
◦ Right to Information – RTI
◦ Agreement, MoU
◦ AOP – Association of Persons
◦ HUF – Hindu Undivided Family
◦ Gifts
◦ Wills
◦ Family Arrangements
◦ Power of Attorney
◦ Indemnity and Guarantee
◦ Lease, Rent, Leave and License
◦ Sale/Transfer of Properties
◦ Tax Audit
Taxmann's Competition Law Manual is a compendium of Competition Act, 2013 [amended up to date] along with Relevant Rules & Regulations, Circulars, and Notifications.
What sets this book apart is the unique way of presenting the Annotated, Amended & Updated text of the Competition Act and relevant Rules & Regulations mapped with the relevant Section of the Act.
The Present Publication is the Latest Edition, authored by Taxmann's Editorial Board, amended up to 5th July 2021. This book is divided into four divisions:
• The Competition Act, 2002
• Notifications
• 20+ Rules & Regulations issued under the Competition Law
• Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals and Other Authorities
Taxmann's CLASS NOTES | Direct Tax Laws and International TaxationTaxmann
Taxmann’s CLASS NOTES for Direct Tax Laws & International Taxation is a one-stop solution to conquer the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to consult multiple voluminous books while revising the day before the exam.
This book aims at providing all concepts in a simple language, with proper linking and a smart sequential approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal jargons.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of theoretical concepts
• [Multi-Colour Coded Book] which follows the below structure:
◦ Blue – Heading
◦ Black – Main Content
◦ Red – Summarised version of the main content
◦ Green – Amendments applicable for the examination
◦ Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
◦ Blue Boxes – Significant selected Case Laws provided by ICAI
◦ Green Boxes – Authors personal notes for better understanding and clarity
• [Amendments for November 2021 Examination] are provided at the end of the module
Also Available:
• [65th Edition] of Taxmann’s Direct Taxes Law & Practice with special reference to Tax Planning
• [2nd Edition] of Taxmann’s Direct Tax Laws & International Taxation (2 Vols.)
• [2nd Edition] of Taxmann’s CRACKER cum Compiler – Direct Tax Laws & International Taxation
Taxmann's Problems & Solutions for Direct Tax Laws & International TaxationTaxmann
Taxmann's PROBLEMS & SOLUTIONS for Direct Tax Laws & International Taxation is a compilation of questions & MCQs (prepared using handwritten fonts) from the educational materials, RTPs, MTPs and past examination papers of both old & new syllabus of ICAI (up to 30th April 2021). These are aligned with provisions applicable for Nov. 2021 Exams and are arranged Topic-wise & Chapter-wise with proper reference to the paper as well as attempt for convenience and trend analysis.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• [Coverage of All Questions & MCQs] in handwritten fonts
◦ For Old/New Syllabus; issued up to 30th April 2021, from the following:
▹ Educational Material of ICAI
▹ RTPs & MTPs of ICAI
▹ Past Examination Papers of ICAI
◦ The above Questions & MCQs are aligned with applicable provisions for November 2021 examination
◦ Arranged 'Topic-wise' & 'Chapter-wise' with proper reference to paper as well as attempt for convenience and trend analysis
• [Ready Reckoner for the day before the exam] Special adjustments tested by ICAI have been summarised at the start of the book
Also Available:
• [65th Edition] of Taxmann's Direct Taxes Law & Practice with special reference to Tax Planning
• [2nd Edition] of Taxmann's Direct Tax Laws & International Taxation (2 Vols.)
• [2nd Edition] of Taxmann's CRACKER cum Compiler – Direct Tax Laws & International Taxation
The contents of the book are as follows:
• Summary of Special Adjustments
• Part A – Direct Taxation
◦ Basics of Income Tax
◦ Special Tax Regime
◦ Taxation of Agriculture Income
◦ Income from Salary
◦ Income from House Property
◦ Profits and Gains of Business or Profession
◦ Capital Gains
◦ Taxation of Business Re-Organisations
◦ Taxation of Distribution to Owners
◦ Income from Other Sources
◦ Taxation of Dividends & Income from Units
◦ Comprehensive Questions
◦ Assessment of Firms & LLP
◦ Assessment of AOP & BOI
◦ Assessment of Non-Profit Organization (NPO) & Exit Tax
◦ Assessment of Business Trust
◦ Assessment of Other Persons
◦ Taxation of Unexplained Income
◦ Clubbing of Income
◦ Set-Off and Carry Forward of Losses
◦ Exemptions & Sec. 10AA Deductions
◦ Chapter VI-A Deduction
◦ Minimum Alternate Tax [Section 115JB] & Alternate Minimum Tax [Section 115JC]
◦ TDS & TCS
◦ Payment of Taxes & Return Filing
◦ Assessment Procedure
◦ Appeals & Revisions
◦ Settlement Commission
◦ Tax Planning, Avoidance & Evasion
◦ Penalties, Offence & Prosecution
◦ Liability in Special Cases
◦ Statement of Financial Transactions (SFT) & Miscellaneous Provisions
• Part B – International Taxation
◦ Transfer Pricing & Related Provisions
◦ Residential Status & Scope of Total Income
◦ Non-Resident Taxation
• Part C – Suggested Answers (Amended as Applicable for A.Y. 2021-22)
Taxmann's 20 REVISED DUE DATES under Income-tax ActTaxmann
In view of the COVID-19 pandemic, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TLA Act, 2020) has extended various due dates of compliances. The due dates so extended by the TLA Act, 2020 have been extended again on multiple occasions by the CBDT. The CBDT has again extended the due dates for certain compliances and has also announced to provide tax exemption for the expenditure incurred by the taxpayers on COVID-19 treatment. Further, the ex-gratia or any compensation received by the family members of any person who succumbed to COVID-19 will be exempt from tax. The impact of new notifications and circulars on various time barring dates and certain compliance of the Income-tax Act are discussed in the below paragraph.
Taxmann's MCQs and Integrated Case Studies on Advanced Auditing and Professio...Taxmann
MCQs & Integrated Case Studies on Advanced Auditing & Professional Ethics are prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 6th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Knowledge Based & Application Based MCQs] as per the pattern applicable for the exams
• Includes the following types of MCQs in a Separate Section in Each Chapter:
◦ RTPs & MTPs
◦ Sample Questions
◦ Past Exam Questions (Memory-Based)
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Audit and Auditor’s) Amendment Rules, 2021
◦ Companies (Amendment) Act 2020
◦ Companies (Auditor’s Report) Order 2020
◦ SEBI (LODR) Regulation 2015
◦ Form 3CD and Form GSTR 9C (Revised)
◦ Finance Act 2021
◦ Revised Code of Ethics
◦ Revised Statement of Peer Review 2020
Also Available:
• [8th Edition] of Taxmann’s Textbook for Advanced Auditing & Professional Ethics (New Syllabus)
• [8th Edition] of Taxmann’s Cracker cum Exam Guide for Advanced Auditing & Professional Ethics (New Syllabus)
• [1st Edition] Taxmann’s Quick Revision Charts for Advanced Auditing & Professional Ethics
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
The contents of the book are as follows:
• Quality Control and Engagement Standards
• Auditing Planning, Strategy and Execution
• Risk Assessment and Internal Control
• Audit in an Automated Environment (Applicable for New Syllabus)
• Professional Ethics (Chartered Accountants Act, 1949)
• Company Audit
• Audit Reports
• CARO 2020
• Audit of Consolidated Financial Statements
• Audit of Dividends
• Audit Committee & Corporate Governance
• Liabilities of Auditors
• Internal Audit
• Management and Operational Audit
• Audit under Fiscal Laws
• Due Diligence and Investigation
• Peer Review
• Audit of Banks
• Audit of Non-Banking Financial Companies
• Audit of General Insurance Companies
• Audit of Public Sector Undertaking
• LLP Audit, Forensic Audit, Quality Review & Audit of Life Insurance Business (Applicable for New Syllabus)
• Miscellaneous
• Integrated Case Studies
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Attending a job Interview for B1 and B2 Englsih learnersErika906060
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1. Taxmann Review Bulletin
A quick review of important Taxes & Laws updates reported on Taxmann.com
April 2020
2. 1. Ordinance 2020: 02
New due dates for compliances under the
Income-tax Act
Editorial team
2. Ordinance 2020: 06
New interest rates on delayed payment of taxes
Editorial team
3. Ordinance 2020: 08
Deduction under Section 80G in respect of
contribution to ‘PM CARES Fund’
Editorial team
4. Ordinance 2020: 10
New due dates for compliances in
Indirect Tax Laws
Editorial team
CONTENTS
3. 1
Amid COVID-19 outbreak, the Finance Minister, Smt. Nirmala Sitharaman, held a press
conference to announce various measures to address the concerns relating to statutory and
regulatory compliance. To give effect to such announcement, the Taxation and Other Laws
(Relaxation of Certain Provisions) Ordinance, 2020 (hereinafter referred to as ‘Ordinance’) has
been promulgated by the President of India.
The Ordinance provides for the extension of various time-limits under the Taxation and Benami
Acts. It also provides for the extension of time-limits prescribed under the Income-tax Rules,
1962. The new due dates for various compliances have been listed in the below table.
Ordinance 2020:
New due dates for compliances
under the Income-tax Act
Editorial team
Section Nature of compliance Original Due Extended Due
Date Date*
Due dates relating to Income-tax returns
Section 139(4) Filing of belated return for the Assessment Year 2019-20 31-03-2020 30-06-2020
Section 139(5) Filing of revised return for the Assessment Year 2019-20 31-03-2020 30-06-2020
Section 143(1) Sending an intimation after processing of return of 31-03-2020 30-06-2020
income (ITR), if the return is filed:
a) During the financial year 2018-19 under section 139;
b) During the financial year 2018-19 in response to a notice
issued under section 142(1)
Section 149 Time-limit to issue a reassessment notice for the: 31-03-2020 30-06-2020
a) Assessment Year 2015-16 if escaped income is
less than Rs. 1 lakh;
b) Assessment Year 2013-14 if escaped income is more
than Rs. 1 lakh
c) Assessment Year 2003-04 if escaped income is related to
any asset (including financial interest in any entity)
located outside India
d) Assessment Year 2013-14, to a person who has been
treated as an agent of a non-resident under section 163
4. Taxmann Review Bulletin | April 2020 03
Due dates relating to TDS and TCS related compliances
Section 200 Furnishing of TDS Statement for the fourth quarter 31-05-2020 30-06-2020
read with of the Financial Year 2019-20
Rule 31A Furnishing of TDS Statement in form 26QB/26QC/26QD for the month of
a) February, 2020 30-03-2020 30-06-2020
b) March, 2020 30-04-2020 30-06-2020
c) April, 2020 30-05-2020 30-06-2020
Section 203 Issue of TDS certificate
read with a) Form 16: In respect tax deducted from the salary paid 15-06-2020 30-06-2020
Rule 31 during the Financial Year 2019-20;
b) Form 16A: In respect of tax deducted from payments 15-06-2020 30-06-2020
other than salary for the quarter ending March 31, 2020
c) Form 16B/16C/16D: In respect of tax deducted under 15-05-2020 30-06-2020
section 194-IA/194-IB/194M during the month of March, 2020
d) Form 16B/16C/16D: In respect of tax deducted under 14-06-2020 30-06-2020
section 194-IA/194-IB/194M during the month of April, 2020
Section 206C Furnishing of TCS Statement for fourth quarter of the 15-05-2020 30-06-2020
read with Financial Year 2019-20
Rule 31AA
Section 206C Issue of TCS certificate for the fourth quarter of the 30-05-2020 30-06-2020
read with Financial Year 2019-20
rule 37D
Section 206C Furnishing of Form 24G by an office of the Government for the month of
read with a) March 2020 30-04-2020 30-06-2020
Rule 37CA and b) April 2020 15-05-2020 30-06-2020
Section 192(1A) c) May 2020 15-06-2020 30-06-2020
read with
Rule 30
Section 200A Due date to send the intimation for processing of 31-03-2020 30-06-2020
& section statement of TDS/TCS filed during the Financial Year 2018-19
206CB
Due dates relating to PAN
Section 139A Application for allotment of PAN:
a) in case of non-individual resident person, which 31-05-2020 30-06-2020
enters into a financial transaction of Rs. 2.5 lakhs or
more during FY 2019-20 and hasn't been allotted any PAN;
b) in case of person being managing director, director, partner,
trustee, author, founder, karta, CEO, principal officer or
office bearer of the person referred to in Rule 114(3)(v) or
any person competent to act on behalf of the person
referred to in Rule 114(3)(v) and who has not been
allotted any PAN
Section 139AA Linking of Aadhaar number and PAN 31-03-2020 30-06-2020
Section 139AA PAN to be treated as inoperative if the assessee fails to 31-03-2020 31-03-2020***
read with intimate his Aadhaar to the Income-tax authorities
114AAA
5. Ordinance 2020: New due dates for compliances under the Income-tax Act04
* The Central Government may extend this date to such further date falling after 30-06-2020 by issuing a notification. However, no such power
is granted in case of Vivad Se Vishwas Scheme.
** Central Government may specify such other date falling after 29-06-2020 by issuing a notification in this behalf.
*** The Government has extended the due date for linking of PAN with Aadhaar from 31-03-2020 to 30-06-2020. However, no amendment
has been made yet in Rule 114AAA which provides that if an assessee fails to link his PAN with Aadhaar by 31-03-2020, the PAN shall become
inoperative.
Due dates relating to other matters
Section 10AA Commencement of operation by the SEZ units for Due dates 30-06-2020
claiming deduction under section 10AA falling between
(If necessary approval is received by SEZ units on 20-03-2020 to
or before March 31, 2020) 29-06-2020**
Section 54 to Making Investments or completing construction/purchase Due dates 30-06-2020
54GB for claiming deduction from capital gains arising falling between
during the Financial Year 2019-20. 20-03-2020 to
29-06-2020**
Chapter VIA Making various tax saving investments or payments for 31-03-2020 30-06-2020
(Part B) the Financial Year 2019-20 (Section 80C to 80GGC)
Section 285BA Furnishing of Statement of Financial Transactions (SFT) 31-05-2020 30-06-2020
read with for the Financial Year 2019-20
Rule 114E
Section 3 of Non-payment of additional 10% payment of disputed tax 31-03-2020 30-06-2020
Direct Tax Vivad
se Vishwas Act,
2020
- The due date shall also be extended in the following cases: Due date 30-06-2020
a) Passing of Order or issuance of notice, notifications, falling between
sanction or approval by the authorities, commissioners 20-03-2020 to
or tribunal; and 29-06-2020**
b) Filing of appeal, reply or application or furnishing of any
report, document etc.
7. 2
The Ordinance provides that any delay in payment of tax which is due for payment from 20-
03-2020 to 29-06-2020 shall attract interest at the lower rate of 0.75% for every month or part
thereof if same is paid after the due date but on or before 30-06-2020. The Government is
also empowered to further extend the said date of 30-06-2020 if needed. Further, no penalty
and prosecution proceedings shall be initiated for the delay in payment of tax in such a case.
Currently, the interest is charged at the rate of 1.5% in case of delay in payment of TDS and at
the rate of 1% in other cases. The taxes or levy due for payment from 20-03-2020 to 29-06-2020
and the consequences in case of delay in payment thereof are enumerated in the following
table:
Ordinance 2020:
New interest rates on delayed
payment of taxes
Editorial team
Section Description Due Date Interest rate Interest rate
for delayed for delayed
payment payment
made up to made after
30-06-2020* 30-06-2020*
234B Payment of advance tax for 31-03-2020 0.75% 1%
financial year 2019-20
234C Payment of 1st instalment of advance tax 15-06-2020 0.75% 1%
for the financial year 2020-21
201 Deposit of tax deducted during the month of 30-04-2020 0.75% 1.5%
March, 2020
201 Deposit of tax deducted during the month of 07-05-2020 0.75% 1.5%
April, 2020
201 Deposit of tax deducted during the month of 07-06-2020 0.75% 1.5%
May, 2020
206C Deposit of tax collected during the month of 07-04-2020 0.75% 1%
March, 2020
206C Deposit of tax collected during the month of 07-05-2020 0.75% 1%
April, 2020
206C Deposit of tax collected during the 07-06-2020 0.75% 1%
month of May, 2020
8. Taxmann Review Bulletin | April 2020 07
Section 170 Deposit of equalisation levy deducted during 07-04-2020 0.75% 1%
of Finance the month of March, 2020 in respect of
Act, 2016 payment made to a non-resident for online
advertisement services
Section 170 Deposit of equalisation levy deducted during 07-05-2020 0.75% 1%
of Finance the month of April, 2020 in respect of payment
Act, 2016 made to a non-resident for online
advertisement services
Section 170 Deposit of equalisation levy deducted during 07-06-2020 0.75% 1%
of Finance the month of May, 2020 in respect of payment
Act, 2016 made to a non-resident for online
advertisement services
Section 104 of Deposit of Securities Transaction tax (STT) 07-04-2020 0.75% 1%
Finance (No. 2) collected during the month of March, 2020
Act, 2004
Section 104 of Deposit of Securities Transaction tax (STT) 07-05-2020 0.75% 1%
Finance (No. 2) collected during the month of April, 2020
Act, 2004
Section 104 of Deposit of Securities Transaction tax (STT) 07-06-2020 0.75% 1%
Finance (No. 2) collected during the month of May, 2020
Act, 2004
Section 123 of Deposit of Commodities Transaction tax (CTT) 07-04-2020 0.75% 1%
Finance Act, 2013 collected during the month of March, 2020
Section 123 of Deposit of Commodities Transaction tax (CTT) 07-05-2020 0.75% 1%
Finance Act, 2013 collected during the month of April, 2020
Section 123 of Deposit of Commodities Transaction tax (CTT) 07-06-2020 0.75% 1%
Finance Act, 2013 collected during the month of May, 2020
115-O and 115R Payment of Dividend Distribution Tax (DDT) 14 days from 0.75% 1%
in respect of dividend declared, distributed the date of
or paid by any domestic or mutual fund declaration,
(which is payable between 20-03-2020 and distribution or
31-03-2020) payment of
dividend,
whichever is
earlier
115QA Payment of additional income-tax in respect 14 days from 0.75% 1%
of buy-back of shares by the company the date of
(which is payable between 20-03-2020 and payment of
29-06-2020) consideration
to shareholders
- Payment of any tax in any other case Due for payment 0.75% 1%
between
20-03-2020 to
29-06-2020
* Interest shall be computed for every month or part thereof for the period between the due date and the date on which the amount has
been paid. It to be noted that interest shall be charged at the lower rate only in respect of the amount paid on or before 30-06-2020. Whereas,
if the amount is paid after 30-06-2020, the interest shall be charged at the existing rate and the same shall be calculated from the due date.
9. 3
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)
has been set up by the Central Government on 28-03-2020 following the COVID-19 pandemic in
India. The fund will be used for combating the Coronavirus outbreak and similar pandemic like
situations in the future.
To encourage donations to PM CARES Fund, the Government has amended Section 80G of the
Income-tax Act through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance,
2020. As per the amendment, every person donating to PM CARES Fund shall be eligible to claim a
100% deduction of the amount donated from his total income. Further, the restriction of Section
80G(4) which limits the deduction to 10% of adjusted gross income shall also not be applicable
for donation made to PM CARES Fund. Section 10(23C) has also been amended to provide that
income of PM Cares Fund shall be exempt from tax.
In the Ordinance, it has also been provided that for claiming deduction under Part B of Chapter
VI-A (including section 80G) for Financial Year 2019-20, a person can make investment or
contribution up to 30-06-2020. Thus, the donations made up to 30-06-2020 in PM CARES Fund
shall also be eligible for deduction from income of the Financial Year 2019-20.
In the Press Release, dated 31-03-2020, it has been clarified that any person including corporate
assessees paying concessional tax on the income of Financial Year 2020-21 under the new regime
can donate to PM CARES Fund up to 30-06-2020. They can claim deduction under section 80G
against income of the financial year 2019-20, without losing the eligibility to opt for concessional
tax regime in the financial year 2020-21. Thus, the donations made to PM Cares Fund between
01-04-2020 and 30-06-2020 can be claimed as deduction either in the financial year 2019-20
or 2020-21, at the option of the taxpayer. But, if the taxpayer opts to claim a deduction in the
Financial Year 2020-21, then he shall not be eligible to opt for concessional tax regime of section
115BAC and 115BAD, as the case may be.
Ordinance 2020:
Deduction under Section 80G in respect
of contribution to ‘PM CARES Fund’
Editorial team
11. 4
The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020(hereinafter
referred to as ‘Ordinance, 2020’) issued on 31-03-2020 has inserted a new Section 168A in the CGST
Act, 2017, which empowers the Government to extend the time limit,on the recommendations
of GST Council, in respect of actions which could not be completed due to force majeure,
namely, war, epidemic, flood, drought, etc. or any other calamity caused by nature affecting
the implementations of provisions of CGST Act, 2017. The relevant notifications have also been
issued to give effect to the extension of time limits announced in the press release dated 24-03-
2020 and 31-03-2020.
1.1. New Due dates for GST Returns
The table given below summarizes the impact ofthe extension of various due dates in the
CGSTAct:
Ordinance 2020:
New due dates for compliances in
Indirect Tax Laws
Editorial team
Section & Notification Turnover Description Original Due Date Revised New
Prescribed
Due Date#
Section 39 read with Rule 61 Furnishing of Form GSTR-3B for the month of
(Notification No. 30/2020- Upto Rs. 1.5 crores February 2020 22-03-2020/ 24-03-2020 30-06-2020
Central Tax and Notification March 2020 22-04-2020/24-04-2020 03-07-2020
No. 31/2020-Central Tax, April 2020 22-05-2020/ 24-05-2020 06-07-2020
dated 03-04-2020)
More than February 2020 22-03-2020/ 24-03-2020 29-06-2020
Rs. 1.5 crores but March 2020 22-04-2020/ 24-04-2020 29-06-2020
upto Rs. 5 crore April 2020 22-05-2020/24-05-2020 30-06-2020
More than February 2020 20-03-2020 24-06-2020
Rs. 5 crores March 2020 20-04-2020 24-06-2020
April 2020 20-05-2020 24-06-2020
Section 39 read with Upto Rs. 5 crore May 2020 22-06-2020/ 12-07-2020/
Rule 61 (Notification 24-06-2020 14-07-2020
No. 36/2020-Central Tax, More than May 2020 20-06-2020 27-06-2020
dated 03-04-2020) Rs. 5 Crore
12. Taxmann Review Bulletin | April 2020 11
Section 37 read with Rule 59 Furnishing of Form GSTR-1 for the quarter/month of
(Notification No. 33/2020, Upto Rs. 1.5 crore January-March, 30-04-2020 30-06-2020
dated 03-04-2020) 2020
More than March 2020 11-04-2020 30-06-2020
Rs. 1.5 crore April 2020 11-05-2020 30-06-2020
May 2020 11-06-2020 30-06-2020
Section 39 read with Rule 63 Furnishing of Form GSTR-5 for the month of
(Notification No. 35/2020, - February 2020 20-03-2020 30-06-2020
dated 03-04-2020) March 2020 20-04-2020 30-06-2020
April 2020 20-05-2020 30-06-2020
May 2020 20-06-2020 30-06-2020
Section 39 read with Rule 64 Furnishing of Form GSTR-5A## for the month of
(Notification No. 35/2020, - February 2020 20-03-2020 30-06-2020
dated 03-04-2020) March 2020 20-04-2020 30-06-2020
April 2020 20-05-2020 30-06-2020
May 2020 20-06-2020 30-06-2020
Section 39 read with Rule 65 Furnishing of Form GSTR-6 for the month of
(Notification No. 35/2020, - March 2020 13-04-2020 30-06-2020
dated 03-04-2020) April 2020 13-05-2020 30-06-2020
May 2020 13-06-2020 30-06-2020
Section 39 read with Rule 66 Furnishing of Form GSTR-7 for the month of
(Notification No. 35/2020, - March 2020 10-04-2020 30-06-2020
dated 03-04-2020) April 2020 10-05-2020 30-06-2020
May 2020 10-06-2020 30-06-2020
Section 39 read with Rule 67 Furnishing of Form GSTR-8 for the month of
(Notification No. 35/2020, - March 2020 10-04-2020 30-06-2020
dated 03-04-2020) April 2020 10-05-2020 30-06-2020
May 2020 10-06-2020 30-06-2020
Section 10 read with Rule 3 - Furnishing of 31-03-2020 30-06-2020
(Notification No. 30/2020- Form CMP-02
Central Tax, dated 03-04-2020)
Section 10 read with Rule 62 - Furnishing of 18-04-2020 07-07-2020
(Notification No. 34/2020- Form CMP-08
Central Tax, dated 03-04-2020) Furnishing of 30-04-2020 15-07-2020
Form GSTR-4
Section 44 read with Rule 80 - Furnishing of 31-03-2020 30-06-2020
(Notification No. 15/2020 and Form GSTR-9/9A
Notification No. 16/2020 for the F.Y.2018-19
dated 23-03-2020) Upto Rs. 5 Crores Furnishing of 31-03-2020 Not required
Form GSTR-9C
for the F.Y.2018-19
More than Furnishing of 31-03-2020 30-06-2020
Rs. 5 Crores Form GSTR-9C
for the F.Y.2018-19
# The due dates have not been extended per se but relaxation has been provided from levy of interest and late fee for the given period.
## There is an ambiguity in relation to extension of due dates for GSTR-5A. There are two school of thoughts in this regard. First says it
should be covered in section 39(5), while another argues to cover it in section 39(1). As Government has mentioned in its press releases that
relaxation will be provided for all due dates in respect of every compliance, we may assume that due dates have been extended for GSTR-5A
as well.
13. Ordinance 2020: New due dates for compliances in Indirect Tax Laws12
Illustration:
The interest for late filing of GSTR-3B in case of a taxpayer whose turnover is more than
Rs. 5 crores shall be calculated in the following manner:
1.2. Relaxation in levy of late fees and interest
Levy of interest and fee for late filing of Form GSTR-3B for the period February-April, 2020 shall
be as below.
Interest and Late Fee for GSTR-3B
Turnover (in the Period Furnished before Rate of Late Fee
preceding Finacial Year) or between Interest
Upto Rs. 1.5 Crore February 2020 30-06-2020 Nil Nil
March 2020 03-07-2020
April 2020 06-07-2020
More than Rs. 1.5 Crore February 2020 29-06-2020 Nil Nil
and upto Rs. 5 Crore March 2020 29-06-2020
April 2020 30-06-2020
More than Rs. 5 Crore February 2020 20-03-2020 to 04-04-2020 Nil Nil
05-04-2020 to 24-06-2020 9% p.a. Nil
25-06-2020 onwards 18% p.a.(refer Rs.20/Rs. 50
illustration below) per day
March 2020 20-04-2020 to 05-05-2020 Nil Nil
06-05-2020 to 24-06-2020 9% p.a. Nil
25-06-2020 onwards 18% p.a.(refer Rs.20/Rs. 50
illustration below) per day
April 2020 20-05-2020 to 04-06-2020 Nil Nil
05-06-2020 to 24-06-2020 9% p.a. Nil
25-06-2020 onwards 18% p.a.(refer Rs.20/Rs. 50
illustration below) per day
Due date of GSTR-3B Actual Date Delay Applicability of Interest
for March 2020 of filing (in days) lower rate of interest
20-04-2020 02-05-2020 11 Yes Nil
20-04-2020 20-05-2020 30 Yes Nil interest for first
15 days+9% p.a. for next 15 days
20-04-2020 24-06-2020 65 Yes Nil interest for first
15 days+9% p.a. for next 50 days
20-04-2020 30-06-2020 71 No 18% p.a. for 71 days
14. Taxmann Review Bulletin | April 2020 13
1.3. Extension of time limit for other proceedings in GST
The table given below summarizes the impact of the extension of various due dates related to
proceedings in the CGSTAct:
1.4. Extension of proceedings under Central Excise Act, 1944, Customs Act 1962 Customs
Tariff Act, 1975 and Finance Act, 1994
The Ordinance, 2020 has also extended the time-limit under Central Excise, 1944,Customs Act,
1962, Customs Tariff Act, 1975 and Finance Act, 1994:
Central Excise, Customs & Service Tax
Extension in specified cases
Notification Description Original Time Limit Extended
Time Limit
Notification No. 35/2020- Completion of any proceeding or passing of 20-03-2020 To 29-06-2020 30-06-2020
Central Tax, any order or issuance of any notice,
dated 03-04-2020 intimation, notification, sanction or approval
by any authority, commission or tribunal,
Notification No. 35/2020- Filing of any appeal, reply or application or 20-03-2020 To 29-06-2020 30-06-2020
Central Tax, furnishing of any report, document, return,
dated 03-04-2020 statement or such other record
Notification No. 35/2020- Validity of e-way bill generated 20-03-2020 To 15-04-2020 30-04-2020
Central Tax,
dated 03-04-2020
Section Description Original Due Date Extended Due Date
Relevant sections of Furnishing of any report, 20-03-2020 To 29-06-2020 30-06-2020
Central Excise Act, 1944; document, return or
Customs Act 1962; statement
Customs Tariff Act, 1975
and Finance Act, 1994
Relevant sections of Filing of any appeal, 20-03-2020 To 29-06-2020 30-06-2020
Central Excise Act, 1944; reply or application
Customs Act 1962;
Customs Tariff Act, 1975
and Finance Act, 1994
Relevant sections of Issuance of any order, 20-03-2020 To 29-06-2020 30-06-2020
Central Excise Act, 1944; notice, intimation,
Customs Act 1962; notification, sanction
Customs Tariff Act, 1975 or approval
and Finance Act, 1994
15. 1.5. Extension of due dates for Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019
The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 was introduced vide Finance
(No. 2) Act, 2019 as a dispute resolution-cum-amnesty scheme for the resolution of the cases
of erstwhile tax laws. The Ordinance 2020 also provides the following relief related to the said
Scheme:
Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019
Section Description Original Due Date Extended Due Date
Section 127(1) of the The amount estimated by The designated committee shall The designated
Finance (No. 2) Act, 2019 the designated committee issue a statement in Form committee shall
read with Rule 6 of the to be payable by the SVLDRS-3 (indicating the issue a statement
Sabka Vishwas (Legacy declarant, if it is equal to amount payable by the in Form SVLDRS-3
Dispute Resolution) the amount declared by declarant) within 60 days from on or before
Scheme Rules, 2019 the declarant in the date of receipt of the 31-05-2020
Form SVLDRS-1 declaration in Form SVLDRS-1
Section 127(2) The amount estimated by The designated committee shall The designated
read with Rule 6 the designated committee issue a statement in Form committee shall
to be payable by the SVLDRS-2 (indicating the estimate issue a statement
declarant, if it exceeds of amount payable by the in Form SVLDRS-2
the amount declared by declarant) along with the notice on or before
the declarant in of opportunity of personal 01-05-2020
Form SVLDRS-1 hearing within 30 days from the
date of receipt of the declaration
in Form SVLDRS-1
Section 127(4) After hearing the The designated committee shall The designated
read with Rule 6 declarant, the amount issue a statement in Form committee shall
estimated by the SVLDRS-3 (indicating the issue a statement
designated committee to amount payable by the in Form SVLDRS-3
be payable by the declarant) within 60 days from on or before
declarant, in cases where the date of receipt of the 31-05-2020
the amount estimated by declaration in Form SVLDRS-1
the designated committee
exceeded the amount
declared by the declarant
in Form SVLDRS-1
Section 127(5) read Amount indicated in Payment of amount by the The amount shall
with Rule 7 Form SVLDRS-3 issued by declarant within 30 days be paid by the
the designated committee from the date of issue of declarant on or
Form SVLDRS-3 before 30-06-2020
Ordinance 2020: New due dates for compliances in Indirect Tax Laws14