CMP-02 is used for opting composition scheme.Extended last date 30.09.2019 After one month of filing CMP-02 the scheme is applicable. Turnover limit For(a) supplier of goods- up to Rs 50 Crore.(effective from 1.04.2019) (b) Exclusive supplier and mixed supplier of goods and service -up to Rs 50Lakh Quarterly tax payment,and annual return file. Last date […]
6% Composition Scheme – CMP-02 filing Due date extended to 30/09/ 2019 Corrigendum to Circular No. 97/16/2019-GST Dated the 1st July, 2019 CBEC/20/16/4/2018-GST (Pt. I) In para 2(i) of the Circular No. 97/16/2019-GST dated 5th April, 2019, “(i) a registered person who wants to opt for payment of central tax @ 3% by availing the […]
According to Rule 46 (b) of the CGST Rules 2017, it has been specified that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding 16 characters in one or multiple series containing alphabets or numerals or special characters and any combination thereof unique for […]
IT return due date from 31.07.19 to 31.08.2019,press release dated 23.07.2019 The Central Board of Direct Taxes (CBDT) extends the ‘due date‘ for filing of Income Tax Returns from 31st July, 2019 to 31st August, 2019 in respect of certain categories of taxpayers who were liable to file their Returns by 31.07.2019. Link Extension of date for filing of Income Tax […]
GST Transition plans issued by CBIC-press release. There are three main components for the new return,One main return and two annexures. Form GST RET -1 and Form GST ANX-1 Form GST ANX-2 From July 19 users would be able to upload invoices using the FormGST ANX-1 offline tool on trial basis.Using Form GST RET -2 […]
Incidence of Income tax on Trust Indian Trust Act 1882 is an act related to private trusts and trustees.Public charitable trust can be formed by registering as a trust by executing a trust deed or as a society under the registrar of societies.Private charitable societies can be formed under sec 8 of companies act 2013. […]
Enhancements in E-Way Bill System 1. Auto calculation of route distance based on PIN code for generation of EWB: E-waybill system is now enabled to auto calculate route distance for movement of goods, based on the Postal PIN codes of source and destination locations given by the user. The e-waybill system will calculate and display the actual […]
Advisory to GST Taxpayers on Invoice Series to be used wef 1st April, 2019 As per Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or […]
Due Date Extension of ACTIVE Form INC-22A The Ministry of Corporate Affairs,GOI, has made it mandatory for all companies registered before 1.1.2018 to file Active Form 22A on or before 25.04.2019 which is now extended to 15th June 2019. The rule 25A (!) and (2) of the Companies (Incorporation) Rules 2014 are accordingly changed.
Few important Changes applicable from 01.04.2019 as per interim budget 1 Tax Rebate increased Due to rebate allowed for individual with Taxable income up to Rs 5 lakhs,no tax is payable. 2 .Standared deduction increased to Rs 50,000 The standared deduction for salaried individuals and pensioners is hiked to Rs 50,000 instead of Rs 40,000 […]
