| AKGVG Weekly Insight |
| Dear Reader, |
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 09th Nov, 2021 which includes: |
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| Date: 09.11.2021 |
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| S.no |
Description |
Relevant links |
| Section I: Income Tax |
| 1. |
CBDT notifies ‘E Settlement Scheme, 2021’ shall be applicable to pending applications in respect of which the applicant has not exercised the option under sub-section (1) of section 245M of the Act and which has been allotted or transferred by Central Board of Direct Taxes to an Interim Board.
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Notification no. 129/2021
dtd 01.11.2021 |
| 2. |
Tolerance Band for Assessment Year 2021-22 in case of wholesale trading and others notified by CBDT. |
Notification no. 124/2021
dtd 29.10.2021 |
| 3. |
CBDT circulates guidelines under clause (23FE) of section 10 of the Income-tax Act, 1961. |
Circular no. 19/2021
dtd 26.10.2021 |
| 4. |
Clarification regarding Section 36(1)(xvii) of the Income-tax Act, 1961 inserted vide Finance Act, 2015 circulated by CBDT. |
Circular no. 18/2021
dtd 25.10.2021 |
| Section II: GST |
| 1. |
Clarifications regarding applicable GST rates & exemptions on certain services circulated by CBIC. |
Circular no. 164/20/2021-GST
dtd 06.10.2021 |
| 2. |
Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 45th meeting held on 17th September 2021 at Lucknow–reg circulated by CBIC. |
Circular no. 163/19/2021-GST
dtd 06.10.2021 |
| Section III: MCA |
| 1. |
Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013 notified by MCA. |
Notification
dtd 29.10.2021 |
| 2. |
Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014-reg notified by MCA. |
Notification
dtd 29.10.2021 |
| 3. |
MCA notified relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December 2021. |
Notification
dtd 26.10.2021 |
| Section IV: RBI |
| 1. |
Investment by Foreign Portfolio Investors (FPIs) in Debt – Review notified by RBI. |
Notification
dtd 08.11.2021 |
| 2. |
RBI announces rate of interest on Government of India Floating Rate Bonds, 2024. |
Notification
dtd 03.11.2021 |
| 3. |
RBI notifies Master Circular- Guarantees, Co-Acceptances & Letters of Credit – UCBs. |
Notification
dtd 02.11.2021 |
| 4. |
RBI notifies Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs. |
Notification
dtd 01.11.2021 |
| Section V: CUSTOMS |
| 1. |
CBIC amend Notification No. 18/2019-Customs reducing Road and Infrastructure Cess (RIC) on Petrol and Diesel. |
Notification no. 52/2021
dtd 03.11.2021 |
| 2. |
Courier Imports and Exports (Electronic Declaration and Processing), Amendment, Regulations, 2021 notified by CBIC. |
Notification no. 85/2021
dtd 27.10.2021 |
| 3. |
Reducing compliance burden regarding registration of Authorised Couriers circulated by CBIC. |
Circular no. 24/2021
dtd 27.10.2021 |
We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at "info@akgvg.com".
Looking forward to receive your valuable feedback
Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. AKGVG & Associates does not intend to advertise its services through this insight. AKGVG & Associates is not responsible for any error or omission in this insight or for any action taken based on its contents.
Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)
DELHI | GURGAON | MUMBAI | AHMEDABAD | BANGALORE | CHENNAI | LUCKNOW
Tel: +91 9811118031, 9818330516,
Telefax:+91 11 49037920
Website: https://www.akgvg.com |
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