CBIC issues notifications amending GST rates on goods and services to implement the recommendations of 43rd meeting of GST Council held on 28th May 2021. The summary of notifications issued are as under: Notification No. Particulars No. 02/2021 –Central Tax (Rate) Amendment made to notification No.11/2017-Central Tax (Rate), …

Interest on delayed payment of GST to be paid on net tax liability after adjusting credit in ECL from 1st June 2021 Clause 112 of the Finance Act 2021 amended Section 50 of the CGST Act 2017 related to Interest on delayed payment of tax. The amendment provided …

Extension of ICSI UDIN Amnesty Scheme 2021. Last Date Extended to 15th June 2021 The Institute of Company Secretaries of India (ICSI) had introduced the ICSI UDIN Amnesty Scheme, 2021 in view of the practical problems in generating the UDIN and other difficulties being faced by the members …

Notification issued as per decisions taken in 43rd meeting of GST Council  GST Council in its 43rd meetings held on 28th May 2021 took several decisions to provide relief to the taxpayers.  CBEC has issued notifications to implement the recommendations of the GST Council as under: Notification No.  …

Govt. further waives IGST on import of COVID-19 medicines etc. for donation to Central/State Government, State authority, relief agency etc. MINISTRY OF FINANCE(Department of Revenue)   Notification No.32/2021-Customs New Delhi, the 31st May, 2021   G.S.R. 355(E).—In exercise of the powers conferred by sub-section (1) of section 25 …

Emergency Credit Line Guarantee Scheme (ECLGS) expanded – ECLGS 4.0 for onsite oxygen generation, wider coverage of ECLGS 3.0 and increase in tenor for ECLGS 1.0   On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the …