Updates

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  • 18 Aug 2020 Income Tax Return Forms - Income Tax Department has altered all of the income tax return forms for A.Y. 20...
  • 17 Aug 2020 Applicability of Tax Audit under Income Tax Act - After Finance Budget,2020 there has been a drastic change in the level of applic...
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    News

    25 Sep 20
    High Court can’t interfere in any order of NCLT as an appeal lies to NCLAT: Kerala High Court
    Kerala GST Department issues instructions for Settlement of arrears under Amnesty Scheme, 2020
    GST: Patiala House Court grants Bail to person accused of availment of Ineligible ITC to the tune of Rs.24 Cr
    ITAT deletes addition of alleged Long-Term Capital Gains and estimated commission as revenue failed to dislodge assessee’s claim
    24 Sep 20
    Uttarakhand Reported the Sharpest Drop of 42% in GST Mop-up
    GST Council likely to approve two-year extension of compensation cess levy
    Delhi High Court rejects plea challenging 5% GST on all varieties of fabrics
    CBIC issues Advisory on change in navigation of Comparison of liability declared and ITC claimed report
    CBIC issues corrigendum for conditional late fee waiver for Composition Taxpayers only for quarters from July 2017 to March 2019
    23 Sep 20
    MCA notifies NCLT (Recruitment, Salary and other Terms and Conditions of Service of Staff Car Drivers) Rules, 2020
    GST Department moves Metropolitan Magistrate Court for Judicial Remand of person alleged in 29cr ITC Fraud case
    CBDT allows One-time relaxation for Verification of Income Tax Returns by EVC/ITR-V for AY 2015-16, 2016-17, 2017-18, 2018-19
    No Refund on entire Unutilised ITC accumulated on account of being subjected to an Inverted Duty Structure: Madras HC
    Gujarat HC directs Release of Goods and Vehicle Confiscated on deposit of Rs.1.70 Lakh along with Bank Guarantee
    22 Sep 20
    Advance given for Purchase of Flat prior to Sale of Asset eligible for Capital Gain Deduction: Madras High Court
    GST: Notional Interest on Security Deposit, Property Tax forms part of ‘Rental Income’, if it influences the Value of Supply, rules AAR
    ITAT deletes Penalty against Balaji Telefilms on grounds of non-specific charges
    CBIC waives off Late Fee on failure to furnish the return in FORM GSTR-10
    CBIC extends due date of GST compliance of E-Way Bill in respect of goods sent/taken on approval for Sale/Return are removed before the Supply takes place
    21 Sep 20
    Finance Ministry issues Advisory to PSBs to moot action against Personal Guarantors of Corporate Debtors
    CBIC enables Matching Offline Tool to compare ITC auto-drafted in Form GSTR-2B with Purchase Register
    21 states accept Rs 97,000 crore borrowing proposal to meet GST shortfall
    Govt signals it has support to push its GST formula
    20 Sep 20
    Revenue cannot take different Stand at different Point of Time and Impose Additional Duty Arbitrarily: Madras High Court
    21 States Choose Centres Borrow Option As Way Out Of GST Dues Row
    Customs Officer / DRI empowered to arrest a person on reasonable apprehension of Smuggling: Gujarat HC
    19 Sep 20
    CBIC issues administrative instruction for Recovery of Interest on Net Cash liability retrospectively from July 1, 2017
    Madras High Court directs Authority to make available the Scrutiny Report submitted by Superintendent to petitioner
    Govt looks to extend faceless assessment scheme; changes in I-T, GST, Finance Acts
    18 Sep 20
    Gujarat High Court quashes VAT Order and Demand notice passed due to Procedural Lapses
    Karnataka HC allows Petitioner to file application seeking Revocation of Cancellation of GST Registration
    After Toyota’s tax crib, govt says GST is fair, auto makers must cut royalty to parent firms
    Two new services introduced on portal for filing monthly GST returns; know benefits here
    GST rate on cars lower than pre-GST regime; auto companies should cut royalty payments: Finance ministry
    17 Sep 20
    TDS will be Refunded Post Filing an Income Tax Return
    Automobile Industry Seeking Tax Cuts to Counter BS-VI Price Hike
    UN Tax Committee proposes to include Software payments in the definition of Royalties
    NAA finds Pinky Sales guilty for not passing benefit of GST Reduction on Footwear to its customers
    16 Sep 20
    Relief to Cummins: CESTAT directs Adjudicating Authority to grant Refund of Service Tax paid for Services received in SEZ
    GST Council can ask Centre to let states borrow to compensate shortfall: Attorney General
    Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal
    Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal
    14 Sep 20
    13 States Opt For Centres Borrow Plan Amid GST Compensation Row
    Customs Department has been remiss in not proceeding with the enquiry and completing the adjudication in time, says Madras HC
    Extend FY19 GST annual return filing deadline by 3 months: ICAI
    Revised Amount must be taken as quantified amount to test eligibility of Hi-Lite Project for availing benefit of SVLDR Scheme 2019: Kerala HC
    13 Sep 20
    13 States Opt For Centres Borrow Plan Amid GST Compensation Row
    Patrator liable to take GST Registration and pay GST on Supply of Goods and Services: AAR
    12% GST chargeable on Biofertilizers namely ‘Rhyzomyx’ and ‘Rhyzomyco’: AAR
    12 Sep 20
    ASSET provided to school/educational organization is exempted from payment of GST: AAR
    Special CBI Court denies Anticipatory Bail to CGST official involved in Bribery Case
    Activity of providing Auditing, Accounting, Taxation to the Sardar Sarovar Narmada Nigam Ltd. is liable to GST: AAR

    Due Date Reminder

    Jan Feb Mar Apr May June
    July Aug Sep Oct Nov Dec
    All
    30 Sep 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of August 2020
    30 Sep 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of August 2020
    30 Sep 20 Audit report under section 44AB for the assessment year 2020-21 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on September 30, 2020).
    30 Sep 20 Annual return of income for the assessment year 2020-21 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) wor
    07 Oct 20 Payment of TDS of September 2020 (For Govt deductors paying through challan)
    10 Oct 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of September 2020
    10 Oct 20 Statement by e-commerce operator with tax (GSTR-8) for the month September 2020
    11 Oct 20 Filing of GSTR-1 for the month of Sep, 2020
    13 Oct 20 Filing of GSTR-6 for input service distributor for the month of Sep 2020
    15 Oct 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of August, 2020.
    15 Oct 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of August, 2020
    15 Oct 20 P.F Payment for the month of September 2020
    15 Oct 20 ESIC Payments for the of September 2020
    15 Oct 20 Submission of Forms No.15G, 15H,27C for the quarter ending 30th Sep, 2020
    15 Oct 20 furnishing of Form 24G by an office of Government where TDS for m/o Sep 20 has been paid without production of a challan
    18 Oct 20 Filing of CMP-08 for the quarter Jul-Sep 2020
    20 Oct 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Sep 2020
    20 Oct 20 GST Return for NRI OIDAR service provider for the month of Sep 2020 (GSTR 5A)
    30 Oct 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of September 2020
    30 Oct 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of September 2020
    31 Oct 20 Filing of GSTR-1 for the quarter Jul-Sep, 2020
    31 Oct 20 Quarterly statement of TDS deposited for the quarter ending September 30, 2020
    07 Nov 20 Payment of TDS of October 2020 (For Govt deductors paying through challan)
    10 Nov 20 Statement by e-commerce operator with tax (GSTR-8) for the month October 2020
    10 Nov 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of October 2020
    11 Nov 20 Filing of GSTR-1 for the month of Oct, 2020
    13 Nov 20 Filing of GSTR-6 for input service distributor for the month of Oct 2020
    14 Nov 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of September, 2020.
    14 Nov 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of September, 2020
    15 Nov 20 P.F Payment for the month of October 2020
    15 Nov 20 ESIC Payments for the month of October 2020
    15 Nov 20 furnishing of Form 24G by an office of Government where TDS for m/o Oct 20 has been paid without production of a challan
    15 Nov 20 Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending September 30, 2020
    20 Nov 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Oct 2020
    20 Nov 20 GST Return for NRI OIDAR service provider for the month of Oct 2020 (GSTR 5A)
    30 Nov 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of October 20
    30 Nov 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of October 2020
    07 Dec 20 Payment of TDS of November 2020 (For Govt deductors paying through challan)
    10 Dec 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of November 2020
    10 Dec 20 Statement by e-commerce operator with tax (GSTR-8) for the month November 2020
    11 Dec 20 Filing of GSTR-1 for the month of Nov, 2020
    13 Dec 20 Filing of GSTR-6 for input service distributor for the month of November 2020
    15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of October, 2020.
    15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of October, 2020
    15 Dec 20 P.F Payment for the month of November 2020
    15 Dec 20 ESIC Payments for the month of November 2020
    15 Dec 20 furnishing of Form 24G by an office of Government where TDS for m/o Nov 20 has been paid without production of a challan
    20 Dec 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Nov 2020
    20 Dec 20 GST Return for NRI OIDAR service provider for the month of November 2020 (GSTR 5A)

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    About GRR & Co.

    GRR & Co. (“GRR”) is a Surat based Chartered Accountancy firm, which specializes in providing a wide spectrum of multi-disciplinary professional services to several leading organizations in diverse fields.

    The firm is spearheaded by its partners and is committed to providing value-added personalized services to its clients with the highest levels of ethics, integrity and quality.

    The firm has in-house expertise in diverse areas of practice, namely, audit and assurance services, direct taxes, indirect taxes and consultancy services and has set standards of excellence in each of these areas. Each area of practice is monitored and supervised by the partner-in-charge having an in-depth knowledge in the specific area and is ably supported by a highly motivated and enthusiastic pool of professionals.

    Despite having the expertise in diverse areas of professional practice, the firm prides in its ability to provide personalized services to its clients and approaches client problems in a totally integrated manner. The partners take responsibility to coordinate and nurture the client and if necessary, seek consultations and inputs from other in-house experts. This results in the final solution being delivered to the client in a seamless manner. The firm is thus able to provide innovative and holistic solutions tailor-made to the specific needs and requirements of its clients.

    The firm consists of three partners, all of whom have professional experience of more than 14 years. They are supported by a full repertoire of qualified staff.

    The firm’s clientele includes top industry houses and banks, public and private enterprises, leading law firms, domestic businesses, charitable organizations and other manufacturing, trading and service industry companies. readmore...