Category: Blog
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Restriction on filing of GSTR-1/IFF for default in filing of GSTR-3B
Rule-59(6) is getting implemented on GST Portal from 1st September 2021. Rule-59(6) of CGST Rules, 2017; inserted vide Notification No. 1/2021 dated 1st January 2021, provides for restriction in filing of GSTR-1 in certain cases : a registered person shall not be allowed to furnish the details of outward supplies of goods or services or…
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No Benefit is provided to Honest Taxpayer in GST
Many taxpayers have voluntarily paid lakhs of Rs. of late fee for late filing of returns In the recent meeting Goods and Services Tax (GST) Council have discussed various relief measures in view of the damage caused by the second wave of Corona. This was the 43rd meeting of the GST Council which took place…
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What’s ‘New’ in the New Income Tax Portal?
New e-filing website (www.incometax.gov.in) launch: Along with the launch of the new e-filing portal, the Income Tax Department is providing free of cost ITR preparation software for Forms ITR-1, ITR-2 this month. The Income Tax Department launched its new e-filing portal www.incometax.gov.in yesterday (7th June, 2021). It will provide convenience and a “modern, seamless experience”…
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Investing in Cryptocurrency ?
Know what are Pros & Cons before you decide to invest your money You may have heard about the new craze surrounding cryptocurrency nowadays. Some big names are openly coming out in support or against these digital currency. Bitcoin, Ethereum, and Litecoin are some of the more popular types today. You can think of them…
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New Scheme by Government for giving covid loans to hospital at competitive interest rate
As a part of its push to bolster the economy amid the second Covid wave, the Government Sunday expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to provide more relief to small businesses, bring the aviation sector under its ambit, and provide a concessional credit facility of up to Rs 2 crore…