Income Tax Due Dates Extension for AY 2021-22
CBDT has decided to extend the due date of filing of various income tax returns and audit reports for FY 2020-21 (A.Y. 2021-22) vide Circular No. 17/2021 dated 9th September, 2021.
The GST law requires audit of the monthly compliances by way of an audit attached to the Annual Return. It is critical to for the taxpayers to start focusing on the audit of compliances under GST law and input and output reconciliations form a critical part of the GST audit certification. The audit of Annual return (also known as GST audit) lays the foundation for the first external verification/ assessment under the GST law.
We, at VJM & Associates LLP believe in offering qualitative value added services encompassing a comprehensive review of all GST records along with our recommendations on strengthening internal controls for appropriate data entry, data recording, data analysis and data requirements for compliance.
Similar to the other laws, there is a requirement for certain categories of taxpayers to undergo annual audit under GST. As per Section 35(5) of the CGST Act read with rule 80(3) of the CGST Rules, “every registered taxpayer whose turnover exceeds INR 2 crores in a financial year is required to get the accounts audited by a practicing Chartered Accountant and submit a copy of the audited annual accounts and reconciliation statement in Form GSTR 9C.”
Accordingly, every taxpayer having turnover exceeding INR 2 crores is required to submit GSTR 9C duly certified by a practicing Chartered Accountant or a Cost Accountant along with GSTR 9. This certification is required once for every financial year.
In addition to the above, the GST law also has provisions for a department audit/ special audit by a practicing Chartered Accountant or Cost Accountant on a need basis.
Professional GST audit needs a strong mechanism and digital environment through the examination of the records to ensure full compliance of tax rules. At VJM & Associates LLP, we offer error-free GST audit services after thoroughly checking the important audit check-points.
Interested in filling for GST refunds? Contact us to identify that you are eligible for a GST refund. We will help you file your claim through online GST Refund Form RFD-01 or from customs department via IGST route. Don’t miss the timeline. Claim it through us within the relevant date.
Our GST advisory services focus on the applicability of taxes on various transactions conducted or proposed to be undertaken and the overall tax performances of our clients, creating value and greater opportunities for developing a more strategic approach to tax.
Your search for expert in GST for the representation under GST comes to an end as soon as you reach VJM & Associates LLP. We have years of experience and exposure for representation to authorities at various levels. We have expertise in solving various issues related to a dispute between tax authorities and supplier under the GST.
If you are looking for a trustworthy partner or a reliable vendor for outsourcing your GST tasks, we will be the right fit for you. We keep a world-class pool of professional GST consultants to provide you with a complete solution, covering almost all areas of GST, bookkeeping and accounting tasks, GST returns etc.
We are the market leaders to deliver a higher-quality accounting and reporting solution to our clients more quickly and efficiently in an environment of technological change, digital demonstration, could computing, online bookkeeping and GST filing, and increased regulatory changes and scrutinizes.
Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.
We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.
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CBDT has decided to extend the due date of filing of various income tax returns and audit reports for FY 2020-21 (A.Y. 2021-22) vide Circular No. 17/2021 dated 9th September, 2021.
Hon’ble High Court held that the word “inquiry” written under section 70 and word “proceedings” written under section 6(2) are different in meaning and cannot be intermixed.
1. New Income Tax Return filing due dates for FY 2019-20, AY 2020-2021 Compliance Period Earlier extended Due Date* Extended Due Date No. of days
Goods and Service Tax (“GST”) is the major source of revenue for both center and state governments and any non-compliance on part of the taxpayer
Vide press release dated 24th October, 2020, CBIC has extended the due date of filing of GST Annual return (GSTR-9/GSTR-9A) and Reconciliation Statement (GSTR-9C) for FY 2018-19 from 31st October, 2019 to 31st December, 2019.
Under Goods and Service Tax (“GST”), Annual return is required to be furnished in form GSTR-9 and Reconciliation statement and certificate is required to be
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