We are Hiring

We are Hiring Audit Assistants & Article Assistants.. Interested Candidates can send CV to sonyfca@yahoo.co.in

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GST – E invoicing Limit Reduced to 20 crore w.e.f. 01-04-2022

The Central board of Indirect Taxes and Customs vide notification No 01/2022 dated 24-02-2022 has reduced the threshold limit of E invoicing to Rs. 20 Crore. [Earlier 50 Crore] w.e.f. 01-04-2022. It is mandatory to issue E Invoice for registered person  having aggregate  turnover above ₹ 20 crores with effect from 1st April 2022. For…

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Finance Bill 2022

Hon’ble Union Finance Minister Smt. Nirmala Sitharaman introduced the Finance Bill 2022 in Parliament on 01st February 2022. For the Finance Bill 2022, Click on the link Below

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Economic Survey 2021-22

The Economic Survey was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman on 31st January 2022. For the Detailed Report, Click Herehttps://www.indiabudget.gov.in/economicsurvey/

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GST Rate changes w.e.f 01st October 2021

The GST Council’s 45th meeting held on 17th September 2021 has recommended GST rate changes which will be effective from 01st October 2021 Please find the attachment for New Rates applicable w.e.f 01st October 2021:

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Extension of Foreign Trade Policy up to 31st March 2022

The DGFT vide Notification No. 33/2015-2020 dated 28th September, 2021 has further extended the duration of Foreign Trade Policy 2015-2020 (FTP) from 30th September 2021 to 31st March 2022 The following are the major highlights The existing Foreign Trade Policy 2015-20 is extended up to 31st March 2022 (Earlier 30th September 2021) Imports against Advance…

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GST – Extension of Various Time Limits

1.   Extension of Filing of FORM GSTR 3B/ GSTR 1/ IFF by companies using Electronic Verification Code (EVC) CBIC notifies the Central Goods and Service Tax (Seventh Amendment) Rules 2021 to further extend Filing of FORM GSTR 3B/ GSTR 1/ IFF by companies using Electronic Verification Code (EVC), instead of Digital Signature Certificate (DSC) to…

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Extended period of modification of IEC till August 31, 2021 and waived Fee

The DGFT vide Notification No. 16/2015-2020 dated August 09, 2021 has further amended para 2.05(d) of Chapter-2 of Foreign Trade Policy, 2015-2020 to extend the period of updating/ confirming the details in Import Export Code (“IEC”).An IEC holder has to ensure that details in its IEC is updated electronically every year, during April-June period. However,…

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Deduction of Tax at Source at a Higher Rate – Sec 206AB

Introduction of Section 206AB of Income tax Act 1961 effected Deduction of Tax at source at higher percentage from specified persons. Some of the highlights of the Provisions are summarised below. Effective Date: with effect from 1st July 2021. Applicability to Specified Persons:Specified Person – with respect to tax deductions Chapter XVIIB  Not filed…

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