S S Dimri and Associates

Good Afternoon all

Required candidate

1- 1 office Admin person Exp- 2 year minimum ( Place of work - Naraina )

2- 2 Accountant 2 year experience in CA firm, tax Associates firm ( Place of work multi clients Delhi)

3- 2 Senior accountant 4-5 year exp in CA firm, tax Associates firm ( Place of work Multi clients Delhi)

4- 2 billing person Minimum exp 2-3 year in Tally and marg software (Place of work Lodhi road south Delhi)

Contact
Sanjay
099116 06938

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TDS rate reduction for e-commerce operators: The TDS rate for e-commerce operators was reduced from 1% to 0.1%. Section 194DA - Payment in respect of life insurance policy is reduced from 5% to 2%. This will be effective from October 1, 2024.

The due date for filing GSTR-1 (Goods and Services Tax Returns Form 1) varies based on the taxpayer's turnover and the state they are registered in.

For taxpayers with an annual aggregate turnover of up to ₹1.5 crores, the due date is:

- Quarterly: 13th of the month following the quarter (January, April, July, October)

For taxpayers with an annual aggregate turnover of more than ₹1.5 crores, the due date is:

- Monthly: 11th of the next month

Please note that these dates are subject to change, and it's always best to check the official GST portal or consult a tax professional for the most up-to-date information.

Additionally, it's important to note that GSTR-1 is a statement of outward supplies, and it's required to be filed by all registered taxpayers, regardless of their turnover.

The due date for filing an income tax return for non-audit cases in India is July 31st 2024 (for individuals and Hindu Undivided Families (HUFs) who are not required to get their accounts audited)

Please note that if you are required to get your accounts audited, the due date is October 31, 2024.

ITR filing last date for Financial Year 2023-24 (AY 2024-25) is July 31, 2024

The Central Board of Indirect Taxes & Customs, New Delhi (‘the Board’) issued a slew of Circulars ( a total of sixteen) on June 26, 2024.

The Board has issued these Circulars in pursuance of the recommendations of the GST Council at its 53rd Meeting held on June 22, 2024. The Circulars seek to clarify the vexed issues confronting taxpayers and tax officers.

The details of the Circulars are as follows:

1. 207/01/2024-GST
Reduction of Government Litigation – fixing monetary limits for filing appeals or applications by the Department before GSTAT, High Courts and Supreme Court

2. 208/02/2024 -GST
Clarifications on various issues pertaining to special procedure for the manufacturers of the specified commodities.

3. 209/03/2024-GST
Clarification on the provisions of clause (ca) of Section 10(1) of the Integrated Goods and Service Tax Act, 2017 relating to place of supply

4. 210/04/2024-GST
Clarification on valuation of supply of import of services by a related person where recipient is eligible to full input tax credit.

5. 211/05/2024-GST
Clarification on time limit under Section 16(4) of CGST Act, 2017 in respect of RCM supplies received from unregistered persons.

6. 212/06/2024-GST
Clarification on mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the CGST Act, 2017 by the suppliers

7. 213/07/2024-GST
Seeking clarity on taxability of re-imbursement of securities/shares as SOP/ESPP/RSU provided by a company to its employees

8. 214/08/2024-GST
Clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life insurance policies which is not included in taxable value

9. 215/09/2024-GST
Clarification on taxability of wreck and salvage values in motor insurance claims.

10. 216/10/2024-GST
Clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/ Extended Warranty, in furtherance to Circular No. 195/07/2023-GST dated 17.07.2023

11. 217/11/2024-GST
Entitlement of ITC by the insurance companies on the expenses incurred for repair of motor vehicles in case of reimbursement mode of insurance claim settlement

12. 218/12/2024-GST
Clarification regarding taxability of the transaction of providing loan by an overseas affiliate to its Indian affiliate or by a person to a related person.

13. 219/13/2024-GST
Clarification on availability of input tax credit on ducts and manholes used in network of optical fiber cables (OFCs) in terms of section 17(5) of the CGST Act, 2017

14. 220/14/2024-GST
Clarification on place of supply applicable for custodial services provided by banks to Foreign Portfolio Investor

15. 221/15/2024-GST
Time of supply on Annuity Payments under HAM Projects

16. 222/16/2024-GST
Time of supply in respect of supply of allotment of Spectrum to Telecom companies in cases where an option is given to the Telecom Companies for payment of licence fee and Spectrum usage charges in instalments in addition to an option of upfront payment.

The copy of the above mentioned Circulars is attached in a one file.