SUMMARY OF RECENT GST NOTIFICATIONS ISSUED BY CBIC

6 May 20206 May 2020

Central Board of Indirect Taxes and Customs issued the following Notifications on 05/05/2020 which have been summarized below: Notification No. 38/2020 – Central Tax1. A registered person registered under the…

ANALYSIS ON APPLICABILITY OF GST ON REMUNERATION PAID TO DIRECTORS

14 Apr 202014 Apr 2020

In a recent ruling, the Authority of Advance Ruling, Rajasthan (‘AAR’) in case of Clay Craft India Pvt. Ltd. held that the GST shall be chargeable on the remuneration paid…

RECENT CHANGES IN GST

4 Apr 202014 Apr 2020

1.Relief Measures relating to Statutory and Regulatory Compliance Matters regarding to GST in view of COVID-19 Outbreak Last date for filing GSTR-3B in March, April and May 2020 is extended…

Income Tax Changes w.e.f 01.04.2020

2 Apr 20206 May 2020

1.Rates There have been no change in Tax, Surcharge and Cess Rates. However a new Section 115BAC has been introduced w.e.f. 01/04/2020 whereby an individual and HUF can opt to…

Contribution made to PM CARES FUND qualifies for CSR expenditure-clarified

29 Mar 2020

Ministry of corporate affairs has issued a office memorandum to clarify that any contribution made to the fund set up by Government of India as "PRIME MINISTER'S CITIZEN ASSISTANCE AND…

New CBDT boss asks I-T department to maximise revenue collection, get more taxpayers

1 Mar 20191 Mar 2019

The Income Tax Department should pull up its socks to "maximise" revenue collection and enlarge the basket of tax-paying people in the country, the newly appointed chief of the CBDT…