| AKGVG Weekly Insight |
| Dear Reader, |
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 28th Jun, 2021 which includes: |
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| Date: 28.06.2021 |
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| S.no |
Description |
Relevant links |
| Section I: Income Tax |
| 1. |
Extension of various Income Tax due dates including for imposition of penalty under Chapter XXI, Linking of Aadhhar with PAN, for assessment or reassessment under the Income-tax Act, and the time limit for completion of such action under section 153 notified by CBDT
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Notification no. 74/2021
dtd 25.06.2021
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| 2. |
CBDT notifies via notification-“Section 206AB and 206CCA inserted in the Income-tax Act,1961 (effective from 1st July 2021), imposed higher TDSITCS rate on the ‘Specified Persons'.” |
Notification no. 01 of 2021
dtd 22.06.2021 |
| Section II: GST |
| 1. |
CBIC provides clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dated 21st March, 2020 - Reg. |
Circular no. 156/12/2021
dtd 21.06.2021 |
| 2. |
GST on service supplied by State Govt. to their undertakings or PSUs by way of guaranteeing loans taken by them, circulated by CBIC. |
Circular no. 154/05/2021
dtd 17.06.2021 |
| 3. |
CBIC provide relief by lowering of interest rate for a specified time for tax periods March, 2021 to May, 2021. |
Notification no. 02/2021
dtd 01.06.2021 |
| 4. |
CBIC provide the concessional rate of IGST on Covid-19 relief supplies, up to and inclusive of 30th September 2021. |
Notification no. 05/2021
dtd 14.06.2021 |
| 5. |
CBIC amend Notification No. 4/2019-Integrated Tax dt. 30.09.2019 to change the place of supply for B2B MRO services in case of Shipping industry, to the location of the recipient. |
Notification no. 03/2021
dtd 02.06.2021 |
| 6. |
Amendments (Fifth Amendment, 2021) to the CGST Rules, 2017, notified by CBIC. |
Notification no. 27/2021
dtd 01.06.2021 |
| 7. |
CBIC to extend the due date for furnishing of FORM ITC-04 for QE March, 2021 to 30.06.2021. |
Notification no. 26/2021
dtd 01.06.2021 |
| 8. |
CBIC to extend the due date for filing FORM GSTR-4 for financial year 2020-21 to 31.07.2021. |
Notification no. 25/2021
dtd 01.06.2021 |
| Section III: RBI |
| 1. |
Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks notified by RBI |
Notification
dtd 28.06.2021 |
| 2. |
RBI introduces new Definition of Micro, Small and Medium Enterprises |
Notification
dtd 25.06.2021 |
| 3. |
Declaration of dividends by NBFCs notified by RBI. |
Notification
dtd 24.06.2021 |
| 4. |
RBI launches the Survey on Foreign Liabilities and Assets of Mutual Fund and Asset Management Companies’: 2020-2021 round |
Press Release
dtd 24.06.2021 |
| Section IV: CUSTOMS |
| 1. |
CBIC rescind notification No. 30/2021-Customs, dated 01.05.2021. |
Notification no. 33/2021
dtd 14.06.2021 |
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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