GIST OF CIRCULARS

Circular No. 121/40/2019-GST dt.11-10-2019(Refer NN.25/2019- CTR)

  • Services provided by State Government by way of grant of alcoholic liquor licence against consideration in the form of licence fee or application fee or by any other name shall neither be treatedas supply of goods nor as supply of services. Therefore, no GST shall be charged on the above specified services.

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Posted in GST Update |

GIST OF NOTIFICATIONS

NN. 44/2019-Central Tax dated 09-10-2019

  • GSTR-3B for the period from October, 2019 to March, 2020 shall be furnished on or before the 20th day of the month succeeding such month.

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GIST OF NOTIFICATIONS ISSUED ON 30th SEPTEMBER, 2019

CBIC has issued various rate notifications, to give legal effect to the decisions taken in the 37th GST council meet conducted on 20th September, 2019. Below mentioned is the gist of the rate notifications issued on 30th September, 2019 which shall be applicable w.e.f. 01st October, 2019.

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Clarifications in respect of option exercised under section 115BAA of the Income- tax Act, 1961 inserted through The Taxation Laws (Amendment) Ordinance, 2019- reg.

The Taxation Laws (Amendment) Ordinance, 2019 (the Ordinance) has been promulgated by the President of India on September 20, 2019. The Ordinance, infer alia, inserted a new section 115BAA in the Income-tax Act, 1961 (the Act) with effect from April 1, 2020.

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Income Tax Return – Extensive Information asked

31st July 2019 is the deadline for filing your income tax return. Tax return forms requires extensive disclosure of foreign assets, Indian assets and liabilities etc. which must be properly disclosed to avoid various undue rigours from tax department.

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Posted in Direct Tax |