Direct Tax Proposals – Budget highlights 2021 Relaxation for certain category of senior citizen from filing return of income-tax– To provide relief to the senior citizens aged above 75 years from filing Income Tax Return who earn income by the source of either pension or interest, if the following conditions are satisfied: ◦ He has […]
E-invoicing and E-way Bill: Generating E-way Bill using IRP E-invoicing is mandatory for taxpayers having aggregate turnover above Rs. 100 Cr from 01st Jan 2021 | GST Notification 88/2020 The GST Network plans to activate an automated system from 1st December 2020 that will block the generation of E-way Bills for non-filers of monthly GST return form GSTR-3B, […]
Rule 86B of CGST Rules: Is it really what we think it is? Applicable from 1st January, 2021 Rule 86B (Restriction on use of Input Tax Credit for discharging the output liability) has been inserted into CGST Rules, 2017 vide notification no. 94/2020-Central Tax Dated 22nd December 2020 (Central Goods and Services Tax (Fourteenth Amendment) […]
Is there any late fee if GSTR 1 is filed after the due date? The COVID 19 pandemic has been largely disruptive to the growth of India. With an ever-increasing corona virus cases, lockdown was considered as an only solution to flatten the curve. However, the measures which were implemented to avoid a human disaster, […]
