The CBIC has extended the due date for filing GSTR-9 and 9C of F.Y. 2019-20 to 31st March, 2021. Earlier due date was 28th February, 2021.
According to the Rules of Goods and Services Tax, any business whose turnover falls above Rs. 40 lakhs (Rs 10 lakhs for special category states) have to register as a normal taxable person. To enroll this taxable person under GST is defined as the GST Registration.
Employees making contributions of more than ₹2.5 lakh a year into their Provident Fund (PF) accounts, will have to include the interest attributable to the investments exceeding ₹2.5 lakh in their annual income starting 2021-22 and file tax returns accordingly.
Ruling Sought for: M/s. Sagar Powertex Pvt. Ltd., Sagar House, Indian Red Cross Society, Nr. Old Vadaj Circle, Ashram Road, Ahmedabad -380013 having a GSTIN: 24AADCS0473P1Z3, is a company filed an application for Advance Ruling under Section 97 of CGST Act, 2017 and Section 97 of the GGST Act, 2017 in FORM GST ARA-01 discharging the fee of Rs. 5,000/- each under the CGST Act and the GGST Act.
The taxpayers are advised to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error “Error! Invalid Summary payload” after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals.
India hosted a Meeting of BRICS Finance and Central Bank Deputies virtually here today and was co-Chaired by Shri. Tarun Bajaj, Secretary Economic Affairs, Ministry of Finance, and Dr. Michael Patra, Deputy Governor, Reserve Bank of India. Other participants included BRICS Finance and Central Bank Deputies of Brazil, Russia, China and South Africa.
In today’s budget, the government has announced many initiatives which includes Amnesty Scheme, 2021 for outstanding demands or disputes under various acts prescribed in the said scheme.