Posts by: rasik
CGTMSE
CREDIT GUARANTEE FUND TRUST FOR MICRO AND SMALL ENTERPRSIES (CGTMSE) is a boon to the enterrises who falls under the category of Micro and Small enterprise .It is a scheme introduced by the Government of India to provide credit guarantee to small and micro enterprises (SMEs) for loans up to a certain limit. The purpose
Read MoreEXSITING TRUST TO APPLY FOR FRESH IT ONLNE REGISTRATION
The CBDT vide its notification has introduced two forms namely FORM 10A & 10AB which will come into effect from 01 April 2021. This is a completely a new system of online registration. Every old trust has to apply afresh. Form No 10A in case of application under clause (i) and clause (iv) of first
Read MoreGST Refund for Exporters – A major bottleneck after Budget 2021 –
A person making zero rated supply can claim of refund of GST of the IGST amount paid ,the shipping bill was treated as declaration of export in case of goods ,there was no restriction on input of capital goods in that case . In second case the accumulated ITC can be claimed as refund without
Read MorePROVIDENT FUND ADVANCE TO FIGHT COVID -19 PANDEMIC
The Provision for a special withdrawal from the EPF scheme to face the COVID 19 pandemic is part of urgent notification introduced on 28th March 2020 .The package has provided timely relief to the working class of the nation . Under PMGKY scheme amount to the extent of 75 % of the amount standing to
Read MorePROVIDENT FUND SUBSIDY SCHEME
The Central Govt has announced a subsidy package whereby both employer and employee contribution of the Provident fund will be paid by the Government for the next three months . This is to support business employing less than 100 employees . The scheme will cover the period of wages from March 2020 to May 2020
Read MoreFAQ ON DIRECT TAX VIVAD SE VISHWAS ACT,2020
The Act came in to effect on 17th March 2020 .The Act is is in the direction of bringing tax dispute to an end and bringing the disputed money in various appellate forum in the mainstream of the economy . What is Act ? The Act aims in unlocking the disputed tax arrears which are
Read MoreLLP SETTLEMENT SCHEME
The Government has came out with a one-time settlement scheme for Limited Liability Partnerships (LLPs) that will provide more time to submit their pending documents as well as immunity from prosecution for defaults. The LLP settlement Scheme, 2020 to be in force from 16th March 2020 to 13th June ,2020. It would permit a “ONE
Read MoreFAQ ON DIRECT TAX VIVAD SE VISHWAS BILL,2020
The Scheme was launched by the Finance Minister in her Budget speech on Feb 1 ,2020 .The scheme is in the direction of bringing tax dispute to an end and bringing the disputed money in various appellate forum in the mainstream of the economy . What is scheme ? The scheme aims in unlocking the
Read MoreUnion BUDGET 2020
Union BUDGET 2020 MAJOR TAX PROPOSALS TAXPAYERs’ CHARTER in various Acts like Companies Act, for removing harassment of and protecting Taxpayers. DIRECT TAX- 1. VIVAD SE VISHWAS SCHEME IN INCOME TAX – No interest & penalty if tax paid by 31st March 2020. Some additional amt. By 30th June. 2. Option to Individual without around
Read MoreGST ITC Availment restricted
As per Rule 36(4) of the CGST Rules 2017 notified w.e.f. 09.10.2019, restricts availment of credit to 120% of the eligible credit based on invoices/debit notes uploaded by the supplier in their GSTR-1s. From 1st January 2020, the eligibility has got reduced to 110% of such eligible credit. In case availment is in excess of
Read More
Recent Comments