JPMA & Associates

Now Direct Tax Code "DTC" came after 15 years of waiting , first Draft release in 2009

Happy independence Day

*Income Tax Due dates extended again*

a. Non-Audit tax returns -
*December 31, 2021*

b. Tax Audit reports -
*January 15, 2022*

c. TP Report -
*January 31, 2022*

d. Audit tax returns -
*February 15, 2022*

e. TP tax returns -
*February 28, 2022*

f. Belated tax returns -
*March 31, 2022*

*However, no extension has been announced under Companies Act, 2021 for holding AGM. Hence, Companies will still be required to compile their financial statements and present to their shareholders by Sept 30th, 2021*

✍ GST UPDATE


In wake of COVID-19 pandemic, CBIC has further issued a Press Release dated August 29, 2020, with regarding GSTR-2B. GSTR-2B is going to be an auto drafted consolidated ITC statement which auto populates the ITC details for each register person on the basis of information furnished by their suppliers in their GSTR-1/5/6.

Key features in GSTR-2B:

GSTR-2B is introduced on a trial basis to seek taxpayers feedback.
GSTR-2B set interlinking with ICEGATE and contains information related to import of goods.
GSTR-2B is a summarized representation of all the ITC available and not available to the taxpayers.
GSTR-2B is static statement and available on 12th of each month.
Details of all the documents in GSTR-2B is made available online as well as through the download facility.
Document level details of all the invoices, credit notes, debit notes etc. is also provided.
Taxpayers are advised to reconcile the data as auto populates in GSTR-2B with their own records and Books.
GSTN said that taxpayers can access their GSTR-2B through: Login to GST Portal > Returns Dashboard > Select Return period >GSTR-2B.

Please click here for Form GSTR 2B.
Please click here for Press Release.
Hope you find the update useful. In case you need any clarification/information, feel free to write us.

Best regards,
JPMA GST Team

✍GST UPDATE

https://taxguru.in/goods-and-service-tax/31st-august-2020-date-file-gst-refund-account-inverted-duty-structure-fy-2017-18.html

31st August, 2020 – Last date to file GST refund on account of Inverted Duty Structure for FY 2017-18? This article is penned down to analyse the legal i.... Click here to view the full Article

✍UPDATE

✍ CONSUMER PROTECTION ( E COMMERCE ) RULES 2020

✍INCOME TAX CIRCULAR ON FOREIGN WEALTH

✍PAS -6