ABS & Associates

10/09/2021

DATE OF ITR AND AUDIT EXTENDED

16/08/2021

09/08/2021

*GST REGISTERED ENTITY*

From 1st January 2021 onwards, certain taxpayers cannot utilise the ITC balance available in the electronic credit ledger to discharge more than 99% of the tax liability for a tax period. It means atleast 1% of tax liability must be paid by cash.

It applies to such taxpayers who have monthly value of taxable supplies more than Rs.50 lakh (not being exempt or zero-rated supplies). The following taxpayers are exempted from this restriction:

1) A registered taxpayer where more than Rs.1 lakh is paid as income tax in the last two FY in belated IT returns of himself or his proprietor or any two partners or managing director, trustee or board, etc.

2) A registered taxpayer who has received more than Rs.1 lakh as refund of unutilised input tax credit under GST, on account of zero-rated supplies without payment of tax or inverted tax structure.

3) A registered taxpayer paid more than 1% of his GST liability using only his electronic cash ledger, for all the tax periods in the current FY so far.
4) Government departments, PSU, local authorities, statutory bodies, etc.

Thanks & Regards
Shubham Agarwal

30/06/2021

*MCA Date Extension*

👉 1. It has been decided to grant additional time upto *31st August, 2021* for filling of forms of Companies & LLPs due for filling during *1st April, 2021 to 31st July, 2021* other than charge forms without any additional fees.

👉 Accordingly, the due dates of *DPT-3 & Form CFSS is extended to 31st August, 2021.*

👉 2. In case of *CHG – 1 & CHG – 9* the period from 01.04.2021 till 31.07.2021 shall not be reckoned for the purpose of counting the number of days under section 77 & 78 of the Act.

30/06/2021

Job Vacancy
Post: Office Boy
Location: Lalbagh Lucknow Near Sachivalaya
Salary: Depends on Person
Timing: 10AM to 6PM
Weekly Leave: Sunday
Contact No.: 9971048917

27/06/2021

Various Due Dates Extended by Income Tax Department

26/04/2019

UPDATE
Relief to composition tax payer

Notification No. 20/2019 - CT dated 23.04.2019

A. Composition Taxable Persons are now required to file GSTR-4 ON ANNUAL BASIS till 30th APRIL every year. First GSTR-4 will be filed on 30.04.2020 for F.Y. 2019-20.

B. Composition Taxable Persons are required to pay tax quarterly till 18th of month succeeding the quarter by filing FORM GST CMP-08. First GST CMP-08 will be filed on 18.07.2019 for Q1of F.Y. 2019-20.

Note - Above amendment also applies to such Service Providers who opts to pay tax under Composition Scheme (Turnover upto INR 50 lakhs, Rate - 6%, No Inter-State supplies).

26/04/2019

MCA has extended the date of filling Form INC-22A (ACTIVE FORM) from 25.04.2019 to 15.06.2019. Penalty of Rs. 10000 is payable on filling after due date.

20/04/2019

UPDATE
Due date to file GSTR-3B has been extended from 20th April to 23rd April for the month of March 2019.

19/04/2019

UPDATE
FILLING OF FORM DIR-3KYC WITHIN 30 DATE FROM THE DATE OF DEPLOYMENT OF NEW UPDATED FORM

19/04/2019

UPDATE
Manufacturing activities in LLPs:
Manufacturing & allied activities were restricted in LLPs vide OM No. CRC/LLP/e-Forms dated 06.03.2019. This OM invoking the restriction regarding manufacturing & allied activities has been withdrawn with immediate effect.

19/04/2019

UPDATE
Stakeholders are requested to please note that Filing of affidavits (from each of the subscribers to the memorandum and from persons named as the first directors, if any, in the articles that he is not convicted of any offence in connection with the promotion, formation or management of any company, or that he has not been found guilty of any fraud or misfeasance or of any breach of duty to any company under this Act or any previous company law during the preceding five years and that all the documents filed with the Registrar for registration of the company contain information that is correct and complete and true to the best of his knowledge and belief) as per Section 7(1)(c ) of the Companies Act, 2013 read with rule 15 of the Companies (Incorporation) Third Amendment Rules has been dispensed with vide the Companies (Amendment) Act,2017- from 27th July 2018. Only declaration by first subscriber(s) and director(s) in INC-9 is mandatory and affidavit is NOT required to be filed. Stakeholders may kindly note the above provisions while filing SPICe forms for incorporation of Companies.