NOTIFICATIONNew Delhi, the 27th September, 2023INCOME-TAX G.S.R. 697(E).– In exercise of the powers conferred by sub-section (2A) of section 142 read with section295 of the Income-tax Act, 1961 (hereinafter referred to as the Act), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:–– “14B. Guidelines […]
Changes in Table 4 of GSTR 3B – Reporting of ITC availment, reversal and Ineligible ITC From the format of Table 4, following is noteworthy: I. All non-reclaimable reversal of ITC needs to be reported in table 4(B)(1) II. All reclaimable ITC reversals may be reported in table 4(B)(2). It should be noted that ITC […]
Circular No. 188/20/2022-GST F. No. CBIC-20001/2/2022 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing * New Delhi, Dated the 27th December, 2022 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) The Principal Directors […]
Return Compliance in Form DRC-01B (Intimation of difference in liability reported in statement of outward supplies and that reported in return) 1.When can Form DRC-01B be filed? The system checks the spike between the liability declared in form GSTR-1/IFF and the liability paid in GSTR-3B/3BQ for each return period. If the liability declared in GSTR-1 […]
Central Government has notified the State Benches of the GST Appellate Tribunal (GSTAT) on September 14, 2023. The notification was published in the Gazette of India. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 14th September, 2023 S.O. 4073(E).—In exercise of the powers conferred by the sub-section 4 of section 109 of the Central Goods […]
DGFT extended the last date to apply under the Amnesty Scheme till December 31, 2023 and last date for payment of Customs Duty plus interest has been extended till March 31, 2024. The Government of India announced the new foreign trade policy (FTP) on March, 31, 2023. It included an amnesty scheme for exporters for one-time settlement […]
7 September 2023 – 1.Due date for deposit of Tax deducted/collected for the month of August, 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan 14 September 2023 – […]
The Income Tax department is exploring usage of artificial intelligence (AI) to build regression models to identify deviations and errors in tax filing and separate those deviations for further assessment, The income tax department will conduct the strictest scrutiny of tax returns. To facilitate this process, they have implemented a specially designed, automated and enhanced artificial intelligence […]
(1) GST compensation cess GST compensation cess was levied for a period of 5 years up to 30th June, 2022. However ,its levy and collection has been extended till 31st March,2026 (2) Schedule III – Negative list Services by an employee to the employer in the course of or in relation to his employment. (services provided outside […]
