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,…
Read moreDeduction 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…
Read moreFlood Cess applicable up to 31st July, 2021
The Kerala Government has announced that the flood cess would be applicable till 31st July 2021.Government has directed the businesses to make necessary changes in their billing software accordingly.
Read moreApplicability of Kerala Flood Cess extended to 1st July 2019
Kerala Flood Cess on intra-state supply of goods or services or both made by a taxable person to an unregistered person in respect of specified supplies extended to 1st July 2019 by the Government of Kerala.
Read moreCBEC has extended the time limit for furnishing GSTR-1
The Central Board of Excise and Customs has extended the time limit for furnishing GSTR-1. The revised due date for furnishing the Return are as follows: Turnover Return/Form Period Revised Due-Date up to 1.5 cr Form GSTR-1 July-September 10th January 2018 above 1.5cr Form GSTR-1 July-November 10th January 2018
Read moreCBDT extends due date for furnishing Statement of Financial Transaction to 30th June 2017
The Central Board of Direct Taxes (CBDT) announced extension of the date of filing for Statement of financial transaction (SFT) under Section 285BA of the Income-tax Act, 1961, which requires furnishing under Rule 114E of the Income-tax Rules, 1962. In view of these representations and in order to remove inconvenience and to facilitate ease of…
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