The Finance (No. 2) Bill, 2024 is now The Finance (No. 2) Act, 2024 on receipt of President's assent dated 16.08. 2024
The provisions of the Act will now be applicable from its effective date.
The provisions related to GST will be applicable once they are notified separately.
The 53rd meeting of the GST Council convened on June 22, 2024, primarily focused on addressing taxpayer concerns and providing relief measures.
The Key Highlights from the 53rd GST Council Meeting can be accessed from https://t.co/NB3TLr5RKr
Happy Reading !!
An interesting case law to read !!
Maximum amount of stamp duty once paid on an event is required to be paid again on another event for the same 'instrument' !!
This case law relates to stamp duty on increase of capital by the company.
We tried to prepare a short summary !!
Income Tax / TDS Update:
Decoding Circular No. 6/2024 dated 23rd April 2024 - Partial relief against higher TDS deduction / TCS collection of non operative PAN
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Union Budget 2024 was presented by Hon'ble FM today in the Parliament. As it is the interim budget, so there are no major changes except 3-4 important changes, the details of which are being annexed herewith.
https://t.co/CjYhPblDDi
Income Tax Update - Section 43B(h) - A Brief Overview.
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The due date for filing of Electronic Credit Reversal & Re Claimed Statement under the GST has been extended The detailed guidelines along with revised dates are annexed herewith
The Q still remains unanswered as under which provision such statement is required to be filed
#gst
#GST - The last date of passing of order u/s 73 for FY 17-18 falls on the same last date for issuance of notice u/s 73 for FY 18-19.
So, the department came for the rescue & consequently, there has been extension of time limit for issuance of notice and for passing of an order.
Today is the last date to file Electronic Credit Reversal and Re Claimed Statement under the GST.
The detailed guidelines for the same is annexed herewith.
The question is remains unanswered as under which provision such statement is required to be filed.
#GST
#GST_Update - 52nd GST Council Meeting Recommendations on our Whats app Channel. https://t.co/6pVs5Is64Z
Request to kindly Follow the same and Enable the Notification to receive updates.
MCA vide General Circular No. 08/2023 dt 23.8.23 introduced Amnesty Scheme for LLP. Complete details are annexed herewith.
The scheme is applicable for Form 3, Form 4 and Form 11.
Request the stakeholders to take maximum benefit of the same to avoid the huge additional fees.
Pleasure to share that after publishing various articles online, now it’s time for publishing the first article in CPT weekly printed journal by @taxmannindia - Many more articles to go.
#GST - Extended time limit for exercising option for forward charge by GTA : The ideal time limit in my view should be - on or before raising first invoice. -
- Reduction in threshold limit for E Invoice