Blog

IEC details need to be confirmed every year to keep it remain active
Export Incentives
CA. Sachin Jindal

IEC details need to be confirmed every year to keep it remain active

In the recent Notification No. 28/2015-2020 dated 12th February 2021, DGFT make it mandatory for all IEC holders to ensure that the details in its IEC is updated electronically every year, during April – June Period. In case where there are no changes in IEC details same are also needs to be confirmed online.

Read More »
Amendment under Income Tax
Blog
CA. Kavit Vijay

Amendment under Income Tax | Finance Bill, 2021-Union Budget

Following are the amendments proposals  in the Finance Bill 2021 1. TDS in case of specified senior citizen and exempt for filing ITR For the ease of compliance , the senior citizens of the country (aged 75 years or above) are proposed to exclude from filing of Income Tax Return subject to fulfilment of following condition: senior citizens must have only Interest Income apart from pension Income. Tax has been deducted under section 194P on such interest Income by the bank. The bank where interest income credited should be the same where pension is credited into the senior citizen’s Account.

Read More »
Auto-population of e-invoice in GSTR-1
GST Returns
CA. Sachin Jindal

Auto-population of e-invoice in GSTR-1

With effect from 1-10-2020, certain notified taxpayers started issuing invoices after obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). From 1-1-2021, the taxpayers with aggregate turnover above ₹ 100 Cr. during preceding Financial Year also started generating invoice IRN from IRP portal.

Read More »
Aadhar Authentication or e-KYC for existing GST Registrations
GST Registration
CA. Kapil Mittal

Aadhar Authentication or e-KYC for existing GST Registrations

With effect from 6th January, 2021, functionality of “Aadhaar Authentication” and “e-KYC”, where Aadhar Number is not available, has been implemented for existing taxpayers. Therefore, all existing taxpayers are required to complete “Aadhaar Authentication” or “e-KYC”.

Read More »
GSTR-1/2A/2B/4A/6A
GST Returns
CA. Kapil Mittal

Auto population of E-Invoice details in GSTR-1/2A/2B/4A/6A

1. Who is required to  Generate E-invoice? Wide Notification No. 13/2020–Central Tax dated 21st March, 2020, amended from time to time, every registered person who had aggregate turnover in excess of INR 500 Crores during any preceding Financial year from 2017-18 onwards is required to generate e-invoice w.e.f. 1st October, 2020. Further, every registered person having aggregate turnover in excess of INR 100 Crores during any preceding Financial year from 2017-18 onwards is required to generate e-invoice w.e.f. 1st January, 2021. Registered Person for Einvoice When to Start Registered person having aggregate turnover in excess of INR 500 Crores 1st

Read More »
Categories



Want to talk to us

Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118

V J M & Associates LLP

Contact Us

X