M/s Yogesh Garg & Company

24/03/2020

Updates
1) ITRs For FY 18-19 will be further extended to 30th June, 2020.
2) Interest Rate reduced from 12% to 9% for filing of ITRs of FY 18-19.
3) No Extension of TDS Deposit Dues and Interest Rate Reduced from 18% to 9% till 30th June, 2020.
4) Various Income Notices Dates further extended to 30th June, 2020.
5) Aadhar Linking With Pan extended to 30th June, 2020.
6) Vivad Se Vishwas Scheme last date extended to 30th June, 2020.
7) There is no 10% additional charge required to pay in Vivad Se Vishwas Scheme.
8) Due date extension of STT, CTT, Black Money Act, Approval Order, Sanction, Report, Intimation etc. will be further extended to 30th June, 2020.
9) Last Date of GSTRs for the month of March, April, May will be extended to 30th June, 2020 (Varies with the Specific Regions 27-28-29-30).
10) No Interest, Late Fees and Penalty Shall be charged for Companies Upto Turnover of Rs. 5 Crores and above this turnover, only interest shall be charged @9%.
11) Opting for Composition Scheme for the FY 20-21 will be extended to 30th June, 2020.
12) Central Customs and Excise, Sabka Vishwas Scheme for settling disputes will be further extended to 30th June, 2020.
13) During this period, People shall not be required to pay any interest.
14) During this period, the government shall not put any difficult situation to importer and exporters and work:(Custom Clearance) by 24/7 Hours as an essential service.
15) There is Mandatory Requirement for Holding Board Meeting but they unable to do it then will not see as a violation under Companies Act, 2013.
16) Companies Audit Report Order, 2020 shall be effective from FY 20-21.
17) Relaxation for Holding board meetings shall be upto 60 days for next 2 quarters.
18) 20% Deposited Reserves shall be extended.
19) For New Companies Incorporated, A Declaration Shall be extended to 6 Months More (Total 1 Years (6+6)).
20) Mandatory Deposit Reserves of 20% shall be further extended to 30th June, 2020.
21) Debentures Investment of 15% shall be further extended to 30th June, 2020.
22) IBC - Default Threshold Limit increased from Rs. 1 Lacs to 1 Crore Rupees.
23) Even they can think for suspension of the Section 7, 9 & 10 Under IBC for next 6 months subject to the situations prevailed till 30th April, 2020.

Regards
CA. Yogesh Garg

24/03/2020

Please be clear, press note says due dates in March, April and May 2020 in respect of GSTR 3b is extended to 30.06.2020. This would mean Feb 2020 due dates are also extended.

30/01/2020

Update from IBC Cases

13/01/2020

May this lohri brings the opportunities ur way to explore every joy of life, turning all ur dreams into reality n all urs efforts into huge achievements

Wishing you and your family an extremely joyful and prosperous Lohri.

Regards
Yogesh Garg

02/01/2020

Gross GST revenue collected in month of Dec, 2019 is ₹ 1,03,184 cr of which CGST is ₹ 19,962 cr, SGST is ₹ 26,792 cr, IGST is ₹ 48,099 cr and Cess is ₹ 8,331 cr

01/01/2020

May God's grace shine on you and your family. Wishing you all good health and great success. Happy New Year!🎊🎉

10/12/2019

Non Filing of GSTR 3B would end up in blocking of E-Way Bill Generation

09/12/2019

Few industries that cannot claim 15% corporate tax

06/12/2019

Effective from *16.12.2019*, National Electronic Funds Transfer *[NEFT]* facility shall be available for all 24 Hours for all days including Holidays. There shall be 48 Settlement Cycles after every 30 Minutes. Presently, the NEFT facility is available from 8.00 AM to 7.00 PM.

*Source:* RBI Circular dated 06.12.2019, attached herewith.

06/12/2019

Display Your Registration Certificate Under Goods & Service Tax Act, 2017 at Business Premises to Avoid Penalty Under Section 125 of CGST Act, 2017.

12/11/2019