YKS Singhal & Associates

YKS Singhal & Associates We provide gst registration; gst, income tax, tds return and bookkeeping and accounting service

TDS/TCS EXTENDED DUE DATES
30/07/2020

TDS/TCS EXTENDED DUE DATES

In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due d...
30/07/2020

In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020,vide Notification in S.O. 2512(E) dt 29th July, 2020.

CBDT provides one time relaxation for verification of electronically filed IT Returns for Assessment Yrs 2015-16 to 2019...
13/07/2020

CBDT provides one time relaxation for verification of electronically filed IT Returns for Assessment Yrs 2015-16 to 2019-20 which are pending due to non-filing of ITR-V form & processing of such returns. CBDT Circular No.13/2020 dt 13th July,2020 issued.

Understanding & keeping in mind the times that we are in, Income tax department have further extended deadlines. Now, Ta...
02/07/2020

Understanding & keeping in mind the times that we are in, Income tax department have further extended deadlines. Now, Tax Saving Investments/Payments for FY 2019-20 can be made upto 31st July, 2020.
We do hope this helps you plan things better.

Govt extends various time limits under the Direct Tax & Benami laws, providing further relief to taxpayers for making co...
25/06/2020

Govt extends various time limits under the Direct Tax & Benami laws, providing further relief to taxpayers for making compliances under these laws. Notification dt 24th June,2020 issued. Time limits had earlier been extended by Taxation & Other Laws Ordinance on 31st March, 2020.

Govt Ensuring Relief to Small Taxpayers having aggregate turnover < ₹5 Cr. with relaxation in GST provisions.
14/06/2020

Govt Ensuring Relief to Small Taxpayers having aggregate turnover < ₹5 Cr. with relaxation in GST provisions.

FROZEN Parota will attract 18% GST Finally some clarification from CBEC on hue and cry made by all of us. So it seems th...
13/06/2020

FROZEN Parota will attract 18% GST

Finally some clarification from CBEC on hue and cry made by all of us. So it seems the garma garm parantha, nan etc at Murthal and others restaurants etc will still attract 5%.
Thank God for the clarification as the ruling had left us “Frozen.”

CBIC Teeets
With reference to some news items being circulated in a section of media about GST rate on Frozen Parota it is stated that Authority for Advance Ruling (AAR) of Karnataka (A judicial body which decides on a class of GST issues)
The authority has decided that frozen (and preserved) wheat parota and malabar parota available in ambient and frozen form with a shelf life of 3-7 days is not plain roti but is a distinct product.
Hence, such frozen and preserved parota is not like a plain roti, khakra etc. Accordingly, the AAR held that such frozen and preserved parota would not be entitled to
concessional GST rate as available to roti (plain roti, khakra etc attracts concessional GST rate of 5% GST)
It has been held by AAR that frozen and preserved parota would attract GST at the rate of 18%.

40th GST council meeting decisions :1️⃣ For all those who have no tax liability but have not filed GST returns for tax p...
12/06/2020

40th GST council meeting decisions :
1️⃣ For all those who have no tax liability but have not filed GST returns for tax period July 2017 - Jan 2020 (prior to period), there shall be no late fee at all

2️⃣ For people who have tax liability, maximum late fee for non-filing of GSTR-3B returns for period Jul 2017 - Jan 2020 has been capped to ₹ 500
This will apply to all returns submitted during Jul 1, 2020 - Sep 30, 2020

3️⃣ For small tax payers whose aggregate turnover is up to ₹ 5 crore, the rate of interest for late furnishing of GST returns for Feb, Mar and April 2020, beyond July 6, 2020: the rate of interest is being reduced from 18% to 9%

4️⃣ Small tax payers whose aggregate turnover is up to ₹ 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June and July 2020, by September 2020, no late fee or interest

5️⃣ Tax payers who could not get cancelled GST registrations restored in time are being given an opportunity to apply for revocation of cancellation of registration up to September 30, 2020
In all cases where registration has been cancelled till June 12, 2020

6️⃣ A special one-agenda GST Council meeting will be held in July 2020 to discuss compensation cess, which has to be given to states, and who should pay for the borrowing, if required

7️⃣ Correction of inversion of duties has been taken up in today's
meeting as well There has been a unanimity that inversion causes revenue generation problems and unexpected refunds, the question was when this is to be corrected, While the principle regarding correction of inversion of duties has been agreed upon by everybody, the question of the right time to make the correction remained, hence this decision has been postponed, explains Finance Minister

Source: Ministry of Finance - official Twitter channel

12/06/2020

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Filing return has just become easier, for all registered GST dealers with zero tax liability ✡️Till now: Log in on GS...
08/06/2020

Filing return has just become easier, for all registered GST dealers with zero tax liability

✡️Till now: Log in on GST portal 🌐& file returns every month

✡️Now on
✅Just send an SMS in prescribed format

Yes, it is effective immediately👍

Address

Pandav Nagar
Delhi
110092

Opening Hours

Monday 10am - 8pm
Tuesday 10am - 8pm
Wednesday 10am - 8pm
Thursday 10am - 8pm
Friday 10am - 8pm
Saturday 10am - 8pm

Telephone

919811637220

Website

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