| AKGVG Weekly Insight |
| Dear Reader, |
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 04th May, 2021 which includes: |
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| Date: 04.05.2021 |
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| S.no |
Description |
Relevant links |
| Section I: Income Tax |
| 1. |
CBDT extends timelines related to certain compliances by the Taxpayers under the Income-tax Act 1961 due to pandemic. |
Circular no. 08/2021
dtd 30.04.2021 |
| 2. |
Income-tax (12th Amendment) Rules, 2021 notified by CBDT |
Notification no. 40/2021
dtd 30.04.2021 |
| 3. |
Tax Policy & Legislation Division Note: The principal notification was published in the Gazette of India, Extraordinary, Part-II Section 3, Sub-section notified by CBDT. |
Notification no. 39/2021
dtd 27.04.2021 |
| 4. |
CBDT notify new notification for the removal of doubts, it is hereby clarified that for the purposes of issuance of notice under section 148 as per time-limit specified in section 149 |
Notification no. 38/2021
dtd 27.04.2021 |
| 5. |
CBDT amends rule 2DB which deals with Other conditions to be satisfied by the pension fund and this rule called the Income-tax (11th Amendment) Rules, 2021. |
Notification no. 37/2021
dtd 26.04.2021 |
| Section II: GST |
| 1. |
CBIC notifies extension for specified compliances falling between 15.04.2021 to 30.05.2021 till 31.05.2021 in exercise of powers under section 168A of CGST Act. |
Notification no. 14/2021
dtd 01.05.2021 |
| 2. |
CBIC extends the due date of furnishing FORM GSTR-1 for April, 2021 |
Notification no. 12/2021
dtd 01.05.2021 |
| 3. |
CBIC notifies the extension of the due date for furnishing of FORM ITC-04 for the period Jan-March 2021 till 31st May 2021. |
Notification no. 11/2021
dtd 01.05.2021 |
| 4. |
Due date for filing FORM GSTR-4 for financial year 2020-21 to 31.05.2021 is extended by CBIC. |
Notification no. 10/2021
dtd 01.05.2021 |
| 5. |
CBIC amends notification no. 76/2018-Central Tax in order to provide waiver of late fees for specified taxpayers and specified tax periods. |
Notification no. 09/2021
dtd 01.05.2021 |
| 6. |
CBIC provide relief by lowering of interest rate for the month of March and April 2021. |
Notification no. 08/2021
dtd 01.05.2021 |
| Section III: RBI |
| 1. |
RBI notifies guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) |
Notification dtd 27.04.2021 |
| Section IV: Customs |
| 1. |
CBIC exempt IGST on imports of specified COVID-19 relief material donated from abroad, up to 30th June, 2021. |
Order no. 4/2021
dtd 03.05.2021 |
| 2. |
CBIC reduce IGST on Oxygen Concentrators when imported for personal use. |
Notification no. 30/2021
dtd 01.05.2021 |
| 3. |
Amendment in notification No. 27/2021-Customs to exempt customs duty on import of specified Inflammatory Diagnostic (markers) kits, up to 31st October, 2021 by CBIC. |
Notification no. 29/2021
dtd 30.04.2021 |
| 4. |
CBIC exempt customs duty and health cess on import of oxygen, oxygen related equipment and COVID-19 vaccines, up to 31st July, 2021. |
Notification no. 28/2021
dtd 24.04.2021 |
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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