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GSAP News Flash_Updation of IEC 17.06.2021

Description: Government amended IEC related provisions and made it compulsory to update online IEC registration related details every year. Download
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A new return requirement for companies paying Dividend

Description: As a new requirement, every company paying dividend (interim or final) shall be required to furnish a statement of financial transaction (SFT) in Form 61A on or before the 31st May, immediately following the end of financial year. Download
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GST annual return and audit due date extension for FY 2018-19.

In view of COVID-19 panademic, Indian Government has further extended due date for GST audit for FY 2018-19 from October 31st to December 31st, 2020. Download
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Our Publications

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GSAP Alert - 43rd GST Council meeting 01062021

The GST Council met for the 43rd time on May 28, 2021 and recommended various changes related to GST law and procedures to provide relief to taxpayers amidst COVID-19 pandemic. These recommendations will be applicable once notified by the government. In this alert, we have discussed key recommendations made by the GST Council. Download
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GSAP Alert- New TDS and TCS requirements 20210504

The Finance Act, 2021 had inserted new sections 194Q, 206AB and 206CCA in the Income-tax Act, 1961 applicable with effect from July 1, 2021. Section 194Q provides for TDS on the purchase of goods whereas section 206AB and 206CCA provides for the higher rate of TDS and TCS respectively for non-filers of income-tax returns.
In this alert we have discussed these new TDS/TCS requirements.
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SFT return 20210521

Entities executing certain specified financial transactions are required to report those transactions to income-tax authorities by furnishing a SFT return in Form 61A on or before the 31st May, immediately the following the financial year.
This due has been extended for the FY 2020-21 from May 31, 2021 to June 30, 2021. Transactions which are reportable are discussed in this alert.
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Our Articles

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ICSI Newsletter- April 2021: Governance Professional – Leading the way

A brief note on the role of Corporate Governance in professionalism, its impact and consequences and the impact of the changes made in governance in today's scenario. Download
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Union Budget 2021-22 - Board for Advance Rulings and Tax Certainty -20210304.

Budget 2021 has proposed to replace Authority for Advance Rulings (AAR) with Board for Advance Rulings (BAR). In this article we have analysed how far BAR will be useful for taxpayers. Download
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FTC to Japanese expatriates for FY 2020-21 (Covid period)

Will taxes paid in Japan by Japanese expatriates due to extended stay in Japan forced by Covid-19 be available for credit in India? – An analysis in view of recent court ruling. Download

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