Author Archives: admin

Foreign Trade Policy (2015-2020) validity Extended till 30/09/2021

In exercise of powers conferred by Sec 5 of Foreign Trade (Development & Regulation) Act, 1992 read with para 1.02 of Foreign Trade Policy(FTP) 2015-2020 the validity of existing Foreign Trade Policy 2015-20 which was valid upto 31.03.2021 has been … Continue reading

Posted in Regulatory |

Government of Karnataka has launched “Karasamadhana Scheme, 2021” to clear the tax arrears pertaining to erstwhile Tax Regime (pre-GST)

Karasamadhana Scheme’,2021 grants waiver of 100% arrears of penalty and interest payable by dealer/person/proprietor as the case may be relating to the assessment or reassessment already concluded and to be concluded on or before July 31,2021 under following Acts, namely.- … Continue reading

Posted in Regulatory |

CBIC Notifies ‘ICEGATE’ for Filing of Documents etc. and also amended Bill of Entry (BOE) Regulations

CBIC vide NN.33/2021- Customs (N.T) dated 29.03.2021 notifies the common accessible portal i.e. ICEGATE as the Common Customs Electronic Portal for facilitating registration, filing Bill of entry (BoE), Shipping bills, other documents and forms prescribed under the Customs act, 1962 … Continue reading

Posted in GST |

Mandatory Accounting Software with Recording Audit Trail of Transactions and Auditors Responsibility (W.E.F 01.04.2021)

The MCA videNotification No. G.S.R. 205(E), dated March 24, 2021 has issued Companies (Accounts) Amendment Rules, 2021 making mandatory for every company w.e.f 01.04.2021 to record audit trail of each and every financial transaction done on their accounting software. Every company … Continue reading

Posted in Regulatory |

Amendments to Finance Bill, 2021

The Lok Sabha & Rajya Sabha have passed the Finance Bill, 2021 with some amendments. Unless otherwise stated, amendments are effective from AY 2022-23. Some of the key amendments are discussed below: 1.Definition of “liable to tax” u/s 2(29A) amended … Continue reading

Posted in Direct Tax |