taxconcept

47th GST Council Meeting Chaired by Smt. Nirmala Sitharaman

The two-day meeting of the GST Council will be attended by Minister of State for Finance Shri mppchaudhary besides Finance Ministers of States & UTs and Senior officers from Union Government & States. Union Finance Minister Smt. Ĺlnsitharaman will chair the 47th meeting of the GST Council at 11 AM in Chandigarh on 28th and …

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Govt extended GST Compensation Cess levy extended till 31/03/2026

As expected Govt extended GST Compensation Cess levy extended till 31/03/2026 which was coming to an end on 30th June 2022. Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022 | Notification No. 1/2022–Compensation Cess | Dated: 24th June, 2022. (Department of Revenue) New Delhi Notification No. 1/2022–Compensation Cess | Dated: …

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Intervention by Shri Piyush Goyal at the Plenary Session of 12th Ministerial Conference of the WTO

Following is the full text of the Intervention made by Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal during the Plenary Session of 12th Ministerial Conference of the WTO in Geneva today: “Mr. Chairperson, Mr. Co-chair, Madam Director General, Ministers, Ambassadors, Delegates, Ladies and Gentlemen – …

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CCI approves acquisition of entire shareholding in Air Asia India by Air India

The Competition Commission of India (CCI) approves acquisition of entire shareholding in Air Asia India by Air India The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Private Limited (Air Asia India) by Air India Ltd. (AIL), an indirect wholly owned subsidiary of TSPL. At present, TSPL holds 83.67% …

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Retired income tax officer arrested for tampering with PM Modi’s photo

Retired Inspector of Income Tax Department has been arrested for tampering with Prime Minister Narendra Modi’s photo. This action has been taken by the police on the basis of the complaint lodged. According to the information received, Nafees Khan, a resident of Khati Pada of Police Station Lohamandi area in Agra, tampered with the photo …

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GST UPDATE

Module wise new functionalities deployed on the GST Portal for taxpayers

Various new functionalities are implemented on the GST Portal, from time to time, for GST stakeholders. These functionalities pertain to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Various webinars are also conducted as well informational videos prepared on these functionalities and posted on GSTNs dedicated YouTube channel for …

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CBIC to launch “E-Lecture Series by Eminent Personalities on topics of national interest and indirect taxation”

RBI Governor Shri Shaktikanta Das to give Opening Lecture on “Indian Businesses (Past, Present and Future)” As part of celebrations of “ICONIC Week”, Central Board of Indirect Taxes & Customs (CBIC) is launching “E-Lecture Series by Eminent Personalities” tomorrow. The Ministry of Finance is celebrating the “ICONIC Week” from June 6th to 12th as part …

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RBIPolicy | Inflation estimate does not take into account impact of MPC action today, says RBI Governor

RBIPolicy | Inflation estimate does not take into account impact of MPC action today, says RBI Governor DasShaktikanta This Statement sets out various developmental and regulatory policy measures relating to (i) Regulation; (ii) Financial Markets; and (iii) Payment and Settlement systems. I. Regulation and Supervision 1. Individual Housing Loans by Cooperative Banks – Enhancement in …

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ICAI Important- Re: Proposed Scheme of Education and Training

The Draft Amendments in the CA Regulations arising out of the proposed scheme of Education and Training have been in principle approved by the Ministry of Corporate Affairs and is exposed to the public for their comments for 30 days and, thereafter, the same will be considered by the Council. Once the Proposed Scheme and …

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LLP Form 11 for FY 2021-22 due date extended till 30th June 2022

Corporate Laws & Corporate Governance CommitteeThe Institute of Chartered Accountants of IndiaJune 03, 2022LLP Form 11 for FY 2021-22 due date extended till 30th June 2022 This is to inform you that Ministry of Corporate Affairs vide its General Circular dated 27th May 2022 has relaxed the payment of additional fees in case of delay …

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Extension of due date for filing of Form CSR-2 for FY 2020-21

Extension of due date for filing of Form CSR-2 for FY 2020-21 till 30th June, 2022 and requirement of separate filing of Form CSR-2 for FY 2021-22 on or before 31st March, 2023 This is to inform you that the Ministry of Corporate Affairs vide its notification dated 31st May 2022 has extended the due …

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GST collection crosses ₹1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March 2022

₹1,40,885 crore gross GST Revenue collection for May 2022; increase of 44% year-on-year The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of goods) and cess is ₹10,502 crore …

GST collection crosses ₹1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March 2022 Read More »

Relaxation in paying additional fees in case of delay in filling all the event based e – forms by LLPS

Subject : Relaxation in paying additional fees in case of delay in filing all the event based e – forms by LLPs which are due on and after 25th February , 2022 to 31st May , 2022 up to 30th June , 2022 – reg . This Ministry has received representations seeking extension of timelines …

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Tata Motors signs Memorandum of Understanding for the potential acquisition of Ford India’s Sanand plant

Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL), have today signed a Memorandum of Understanding (MOU) with the Government of Gujarat (GoG) for the potential acquisition of FIPL’s Sanand vehicle manufacturing facility including (i) Land & Buildings (ii) Vehicle Manufacturing Plant, Machinery and Equipment and …

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