R Goyal & Associates

24/10/2022

24/10/2020

Due Date Extension summary

*GSTR 9, 9C date for FY 2018-19 extended to 31st December, 2020.*

*ITR Filing date for entities subject to tax audit for AY 20-21 extended to 31st January, 2021*

*ITR Filing Due date of International Transactions Taxpayers for AY 20-21 extended to 31st January, 2021.*

*ITR Filing Due Date for other tax payers extended to 31st December, 2020.*

*Tax Audit Filing date also extended to 31st December, 2020.*

08/07/2020

Vacancy for the post of Accounts Executive :

Job Location : Tri Nagar, Delhi
Salary : 12-14K

Note: Knowledge of Tally is must.

Interested candidates can forward their resumes at [email protected].

24/03/2020

FM speech 24.03.2020

1. Last date of itr for fy 2018-19 extended to 30-06-2020.

2. Vivad se vishwas scheme extends till 30.06.2020

3. Adhar Pan linking scheme extends till 30.06.2020

4. Rate of interest for delayed interest will be 9% only instead of 18%

5. GST returns March to May extends to 30.06.2020

6. Opting composition scheme till 30.06.2020

7. Company less than 5 crore turnover No interest, no late fees, no penalty

8. Extended till 30/06/2020
All time barring 👇
143(1)
148
151
263/264 orders
Appeal filing
ITR filings
Any compliances
Saving instruments like 80C/ 54 investment roll over

15/03/2020

GST NEW UPDATE 2020
GST Council Meeting Outcome Today

1. Interest under section 50 of CGST Act 2017 to be charged on NET CASH LIABILITY. Amendment to be made retrospectively w.e.f. 01st July, 2017.

2. Mandatory filling of GSTR 9 & 9C Increased from the turnover limit of Rs 2 crores to Rs 5 crores for. The taxpayers having less than the 5 crores turnover can file voluntarily. Further the Late fees for GSTR-9 has been waived for taxpayers with annual turnover less than Rs. 2 Crore Rupees.

3. The GST Council has decided to continue with the existing return filling system i.e. GSTR-1 GSTR-3B till September 2020 and accordingly deferred the new GST return system till such time.

4. Due date of GSTR-9 (Annual Return) and 9C (Annual Audit) of F.Y. 2018-2019 is now 30th June 2020 instead of 31 March 2020.

5. The GST Rate of Mobile phones is hiked to 18 percent from existing 12 percent reason being the inverted duty structure and Revenue loss of Government.

6. Streamlining the MRO Service: The council has decided to give relief to domestic maintenance, repair and overhaul service providers. It has decided to bring parity with allowing 5 percent GST with full input tax credit (ITC). This had streamlined

7. GSTR-1 filing to be staggered as below:

within 10th of every month : For turnover greater than Rs 1.5 cr,
within 13th of every month : For turnover lesser than Rs 1.5 cr.

Further GSTR-2A to be generated on 14th of every month

8. GSTR-1 to be made compulsory only for making B2B supplies, exports & amendments. B2C & non-filers of GSTR-3B to be exempted from filing of GSTR-1.

9. Where registrations have been cancelled till 14.03.2020, application for revocation of cancellation of registration can be filed up to 30.06.2020.

10. Mr. Nandan Nilekani (Co-founder of Infosys) assures that all GSTN IT related glitches to be streamlined by Jan,2021. He proposes overhauling of system with a specific step-wise roadmap. Proposal is subjected to getting hardware from China.

10/10/2019

💥GST-Notifications 💥

New notifications 44 to 49/CT issued on 09.10.2019

1) GSTR1 & GSTR3B notified till March 2020 for all category of tax payer

2) Mandatory to match ITC with 2A, otherwise total unmatched credit cannot exceed 20% of ITC as available in 2A

3) *GSTR3B now declared return from 01.07.2017* (Amended Rule 61(5)) wherever the time limit for filing GSTR-1 or GSTR-2 has been extended. Thus, the judgement of the Gujarat High Court in the case of AAP and Company has been circumvented.

4) Annual Return for assessee below 2 crore turnover is deemed to have filed, if not filed - However to avoid any further complication in audit and assessment (which are not know at present) it’s suggested to file the same.