30 September

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Time limit for Credit note relating to FY 2019-2020

This is to bring to your kind notice that, cut-off date to claim GST benefit on credit notes on outward supplies made during 2019-20 will be on or before 30th September,2020. ...

29 September

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New TDS and TCS provisions – effective from 1st October 2020

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in NewsletterAlerts

In order to widen and deepen the tax net, the Indian government is committed to taking initiatives. In this regard major amendments introduced by the Finance Act 2020 is insertion of sub-section (1G) and (1H) in section 206C and also introduction of 194-O in the Income tax Act, 1961 ('the Act'). These amendments are applicable from 1st October 2020. Hope this is timely and useful. ...

12 September

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Due Date for payment of second installment of advance tax is 15th September, 2020

Posted by Vishnu Daya

in NewsletterAlerts

This is to bring to your kind attention that the due date for payment of second installment of advance tax (45%) for the financial year 2020-21 is 15.09.2020. Kindly take necessary actions to make the payment within the due date. It is to be noted that though Government of India has announced series of relief measures due to COVID- 19, there is no change in timeline for payment of tax. However, reduced interest rate 0.75% per month or part thereof would be applicable for delay in deposit of tax (instead of 1%) per month or part thereof for payment of taxes...

10 September

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Compliance during September, 2020 under GST

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in NewsletterAlerts

There are several compliances which have to be attended during the month of September 2020 under the GST law with respect to the transactions done in the year 2019-20 . ...

09 September

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Vishnu Daya Newsletter August 2020

Posted by Vishnu Daya

in NewsletterAlerts

We are pleased to present our monthly newsletter for the month of August, 2020. Hope this is both timely and useful for you....

07 August

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Vishnu Daya Newsletter July 2020

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in NewsletterAlerts

We are pleased to present our monthly newsletter for the month of July, 2020. Hope this is both timely and useful for you....

01 August

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Update on GST E-Invoice

Posted by Vishnu Daya

in NewsletterAlerts

The CBIC has issued notifications making changes to the GST E-Invoicing related provisions. As per the amendment made, the E-Invoice requirement is not applicable for the unit in SEZ and also, the turnover limit for complying with the E-Invoicing requirement has been increased from the earlier notified limit of Rs. 100 crores to Rs. 500 crores. ...

27 July

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Trade Receivables e-Discounting System (TReDS)

Posted by Vishnu Daya

in NewsletterAlerts

TReDS is an electronic platform facilitating the financing/discounting the Trade receivables of the Micro, Small and Medium Enterprises (MSMEs) through multiple financiers. This scheme was introduced by RBI to meet the liquidity crisis of the MSMEs by providing a mechanism for financing their trade receivables....

06 July

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Vishnu Daya Newsletter June 2020

Posted by Vishnu Daya

in NewsletterAlerts

We are pleased to present our monthly newsletter for the month of June, 2020. Hope this is both timely and useful for you....

06 July

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Extension of due date for filing of Income Tax return for FY 2019-20 & Implications

Posted by Vishnu Daya

in NewsletterAlerts

The Government, on May 13, 2020 announced the extension of income tax return (ITR) filing deadline for FY 2019-20 to November 30, 2020 in all the cases. This has been notified now vide Notification 35/ 2020 dated 24th June, 2020. In this regard, we wish to bring to bring to your kind attention the possible impacts of the extended due dates on the tax liability and the interest obligations. ...

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