Customs: CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 18th March, 2022 (Customs (N.T.) – 17/03/2022)
Income Tax: No request for Form 15E for certificates under section 195(2) & 195(7) w.r.t. TDS on other sums payable to non resident / non-resident, not being a company, or to a foreign company, for a particular Financial Year shall be accepted after 15th of March of the Financial Year. For the F.Y. 2022-23 application …
Income Tax : CBDT condones the default in filing Form 10-IC to avail lower tax rate of 22% under section 115BAA for AY 2020-21 till 30 June 2022, if ITR was originally filed within due date and the option to avail lower rate was opted in ITR 6. Circular 06/2022 Dated: 17th March, 2022
Income Tax : Considering the difficulties in electronic filing, CBDT relaxes requirement of electronic filing of application in Form No. 3CF (Form for Approval for Scientific Research) till 30th Sept.22 or availability of electronic filing facility. Circular No. 5/2022 Dated 16th March 2022
We are proud to share that Savitribai Phule Pune University has issued us appreciation letter for sincerity & hard work of our team members.
Customs: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. (Notification No. 17/2022 NT dated 15th March 22)
Department for Promotion of Industry and Internal Trade : The Government of India has reviewed the FDI policy for permitting foreign investment in Life Insurance Corporation of India (LIC) and amendments have been made under the Consolidated FDI Policy Circular of 2020 (Press Note No. 1 dated 16th March, 2022)
Income Tax: CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source (TDS) on Salary or Income Tax Payable on Salary for the Financial Year 2021-22 / Assessment Year 2022-23. (Circular No. 04/2022 on 15th March 2022)
Pharma: Department of Pharmaceutical Industries (DOP is combining the existing 3 schemes – Assistance to Pharmaceutical Industry for Common Facilities (APICF), Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) and Pharmaceutical Promotion and Development Scheme (PPDS) into single scheme for strengthening of the Pharma Industries. G-30015/25/2021-Scheme Ministry of Chemicals and fertilisers Department of Pharmaceuticals dated 11th March …
DGFT: Operationalization of new online for module filing of electronic registration for Interest Equalization Scheme w.e.f. 01.04.2022. (Trade Circular 38/21-22 dated 15-3-2022)
MAHAVAT: Maharashtra Vat Amnesty Scheme 2022 : Amnesty Scheme 2022 has been announced waiver of arrears upto Rs. 10,000/- per year and for arrears upto Rs. 10 lakhs, 20% of lumpsum amount has to be paid and the scheme would be applicable from April 22 to Sept.22.
RBI: RBI has directed Paytm Payments Bank Ltd to stop, with immediate effect onboarding of new customers. (Press Release: 2021-2022/1850 dated 11th March 2022.)
DGFT: Mewar Chamber of Commerce & Industry, Rajasthan is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non Preferential). (Public Notice No. 49/2015-2020 Dated: 14 March, 2022)
Bizsol Update for the month March 2022: Article on “GST – Good & Simple Tax – Reality Check?” by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt. Ltd Article on “Amendments to IGCRD Rules, 2017 w.e.f. 1st Mar 2022” by CS. Anita Patil, Sr. Advisor, Bizsolindia Services Pvt. Ltd. Article on “GST – Year End Checklist” …
Introduction : In 2002, the world had observed the collapse of US energy sector giant Enron Corporation when it was at the peak of business with the reputation of ‘America’s most innovative companies’ for six consecutive years by Fortune. In 2016, the world had observed a series of paper leak, known as Panama Papers, which …
As CBIC chairman has statement that now government is going to focus on department audit to ensure there is no GST revenue leakage, it is important for all companies to ensure that correct returns are submitted and figures are properly reconciled with books of account. Also there are lot of changes in GST which are …
To simplify and automate the procedures and to avoid the physical interference IGCRD Rules, 2017 are further amended vide Notification No.7/2022-Cus NT dated 1st Feb 2022 detailed as under: Amendments to Rule 3: Addition of following definitions in Rule 3 (ab) ‘Common Portal’ means the ‘Common Customs Electronic Portal’ as referred to in Section 154C …
Implementation of Goods & Service Tax (GST) w.e.f. 1st July 2017 is one of the historic moments in the Indian Economic history. When draft GST Law was prepared and thereafter in the manner GST was supposed to be made Good & Simple Tax, we need to have the reality check, whether implementor of GST, GST …
GST: SOP for implementation of the provision Of extension of time limit to apply for revocation of cancellation of GST registration have been laid down by Delhi GST. (CIRCULAR No. 15/2021-GST of State Tax dated 10/03/2022)
Global: UAE economy, has announced a New Transaction Law – ‘Decriminalisation of Bounced Cheques’ to implement best global practice it would help in reducing the workload of the UAE courts by reducing bounced cheque related cases.
