As a onetime opportunity companies can apply to govt. to get credit of input taxes for period prior to GST law started in 2017. Govt. has released detailed procedures in this regard. This facility is available only from Oct/1-Nov/30, 2022.Download
A new version of MCA Portal (V3) is being launched. In this process, some forms will be not be available from August 15, 2022 to August 31, 2022. Any pending SRN for these forms should be paid by 15th August.Download
BDT has reduced the time limit for verification of income-tax return ("ITR") from 120 days to 30 days for ITR filed on or after August 1, 2022. For ITR filed up to July 31, 2022, earlier time limit of 120 days would continue to apply.Download
MCA has provided substantial relief to LLPs by allowing them to file pending forms for the past without additional fees. In this alert we have discussed this relief measure in detail.Download
In the Budget 2023, Government increased rate of TCS on purchase of overseas tour program packages and foreign remittances. Further, the threshold for levy of TCS was reduced. These changes were to take effect from July 1, 2023. Considering the requests of stakeholders, Government has decided to rollback increased TCS rates and deferred implementation to October 1, 2023.Download
