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

Posted on April 6, 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... Read More →

Posted in Regulatory |

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

Posted on April 6, 2021

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.-... Read More →

Posted in Regulatory |

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

Posted on March 26, 2021

The MCA vide Notification 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... Read More →

Posted in Regulatory |

Amendments to Finance Bill, 2021

Posted on March 25, 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... Read More →

Posted in Direct Tax |

AAR UP allows Input Tax Credit on expense made under Corporate Social Responsibility

Posted on March 18, 2021

Authority of Advance Ruling vide order no. 52 dated 22.01.2020 allowed Input Tax Credit on expenses incurred with respect to Corporate Social Responsibility (CSR) for application dated 24.09.2019 of M/s Dwarikesh Sugar Industries Limited, P.O.- Medpurasultan, Najibabad, Nagina Road, Bundki,... Read More →

Posted in GST |