Frequently Asked Questions (FAQs) relating to GST e-Invoice E-invoice - Basics: What is ‘e-invoicing’? As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN). After...
Order under Section 119(2)(a) of the Income-tax Act, 1961 Order u/s 119 of the Income-tax Act, 1961 regarding extension of dates for filing of belated and revised ITRs for the A.Y. 2019-20 The date for furnishing of Income-tax returns under section 139 of the Income-tax Act, 1961 (' Act') for the...
Order under section 138 of the Income-tax Act,1961 directing Principal Director General of Income-tax (Systems), New Delhi for sharing information on ‘IT Return filing Status’ of with Scheduled Commercial Banks. The Central Board of Direct Taxes(`CBDT’), in exercise of powers conferred under section 138(1)(a)(i) of Income-tax Act, 1961 (‘Act’), hereby...
CBDT further the due date for furnishing of belated & revised ITRs for Assessment Year 2019-20 from 30th September, 2020 to 30th November, 2020 Order under Section 119(2)(a) of the Income-tax Act, 1961 Order u/s 119 of the Income-tax Act, 1961 regarding extension of dates for filing of belated and revised...
FORM 26AS Form 26AS is a consolidated tax statement which details of total amount paid/credited and total tax deducted at sources thereon, tax collected at source, advance tax, self-assessment tax, regular assessment tax deposited by the taxpayers. Further, addition will be made to include GST Return Information in Form 26AS Details...
e-Invoice Background The GST Council, in its 37th meeting held on 20th September, 2019, has approved introduction of electronic invoice (‘e-invoice’) in GST in a phased manner. Accordingly, steps have been initiated to introduce 'e-invoicing' for reporting of Business to Business (B2B) invoices, beginning from 1st January, 2020 on voluntary...
CBDT Clarification on Scrip-wise reporting in ITR: CBDT issues clarification that there is no requirement of scrip wise reporting for day trading and short-term sale or purchase of listed shares. Please read the Press Release as follows No requirement of scrip wise reporting for day trading and short-term sale or purchase...
Faceless Appeal Scheme 2020: S.O. 3296(E).—In exercise of the powers conferred by sub-section (6B) of section 250 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, namely:__ Short title and commencement.––(1) This Scheme may be called the Faceless Appeal Scheme, 2020. (2) It shall...
Directions for Disposal of appeal under Faceless Appeal Scheme, 2020: [Notification No. 77/2020/F.No. 370142/33/2020-TPL] S.O. 3297(E).—In exercise of the powers conferred by sub-section (6C) of section 250 of the Income-tax Act, 1961 (43 of 1961), for the purposes of giving effect to the Faceless Appeal Scheme, 2020 made under sub-section...
Corporate Social Responsibility (CSR) Definition: According to the United Nations Industrial Development Organisation, Corporate Social Responsibility (CSR) is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company...
