Category: latest
E-Way Bill : Blocking of EWB generation facility for all taxpayers from December
In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is liable to be restricted, in case the taxpayer fails to file their FORM GSTR-3B returns / Statement in FORM GST CMP-08, for tax periods of two or more. From 1st December, 2020, onwards, […]
Read moreICAI reduces the fee of Orientation Course (OC) and Information Technology Training (ITT)
Institute of Chartered Accountants of India (ICAI) announced Reduction of fees for OC & ITT Courses for Foundation and Direct Entry students undergoing Virtual classes. The announcement is as follows- In view of the ongoing spurt of COVID-19 virus pandemic and subsequent suspension of IT and Soft Skills Classes all across the country, the competent […]
Read moreICAI to give COVID Financial assistance to its members & their dependents
The Managing Committee of the Chartered Accountants Benevolent Fund (CABF) ICAI has considered the difficulties being faced by Members in the time of pandemic and has decided to grant Medical Financial Assistance to the Members and their dependents suffering from CORONA. This help is going to be available to the Members and their dependents who […]
Read moreNil GSTR 3B Return Filing through SMS : Procedure announced by CBIC
Government rolls out facility of filing of NIL GSTR 3B Return through SMS. In a major move towards taxpayer facilitation, the Government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS. This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to otherwise […]
Read moreFinance Minister launches instant allotment of e-PAN based on Aadhaar
The Finance Minister Nirmala Sitharaman has launched the facility for instant allotment of PAN (on near to real time basis). This facility was announced in the Union Budget 2020 by Finance Minister. Facility is available for those PAN applicants who: possess a valid Aadhaar number and have a mobile number registered with Aadhaar. The allotment […]
Read moreGSTR 3B can be filed by Firms/ Companies via EVC (OTP)
Earlier Companies or Firms were not eligible to file GSTR- 3B with EVC [Electronic Verification Code]. They were required to file the GSTR-3B with DSC (Digital Signature Certificate). Now, the GST Portal has also enabled the option for companies and firms to file GSTR3B via EVC in case on Companies & Partnership Firms. For any […]
Read moreCBDT issues 10.2 lakh Income Tax Refunds of Rs. 4,250 Crore
In pursuance to the Government’s decision vide press Note dated April 8th 2020 to issue pending income tax refunds up to Rs. 5 lakh in order to help taxpayers in a COVID-19 pandemic situations, the Central Board of Direct taxes (CBDT) today said that it has already issued over 10.2 lakh refunds totaling to around […]
Read moreEPFO introduces Mechanism to credit EPF and EPS Accounts of Subscribers as per PM Gareeb Kalyan Yojna
Employees Provident Fund Organization (EPFO), a statutory body under Union Ministry of Labour and Employment, has put in place an electronic mechanism for crediting EPF and EPS accounts of its subscribers as per the package announced by the Union Government under PM Gareeb Kalyan Yojna on 26.3.2020 for helping the poor to fight Corona pandemic. FAQs […]
Read moreFAQs on EPF & EPS Contributions relief for 3 months to low wage earning members
Q1: What is the objective of this Scheme? Ans: The Central Govt. announced Pradhan Mantri Garib Kayan Yojana Package to help the poor fight the COVID-19 pandemic. As part of this package, with the objective to prevent disruption in the employment of low wage earning employees and support businesses employing less than one hundred employees, […]
Read moreGST collection slips below Rs 1 lakh crore in March after four months
The gross GST revenue collected in the month of March, 2020 is Rs. 97,597 crore of which CGST is Rs. 19,183 crore, SGST is Rs. 25,601 crore, IGST is Rs. 44,508 crore (including Rs. 18,056 crore collected on imports) and Cess is Rs. 8,306 crore (including Rs. 841 crore collected on imports). The total number of GSTR-3B Returns filed for the month of February up to 31st March, 2020 is 76.5 lakh. Checklist […]
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