Income Tax Due Date Compliance Calendar May 2024
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GST Due Date Compliance Calendar May 2024
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GST Dept not Empowered to Compute Penalty Amount on Higher Value than Invoice Value without Proper Evidence: Calcutta HC
The Calcutta High Court recently delivered a significant judgment in the case of Ashish Kumar Sharma Vs Deputy Commissioner, revolving around the computation of penalty by the GST department. Detailed Analysis: The case stemmed from a dispute over the imposition of a penalty on Ashish Kumar Sharma, ...
Important Reminder: LLP Form 11 Annual Return Filing Deadline on May 30, 2024, with Late Filing Penalty of Rs. 100 per Day
The LLP (Limited Liability Partnership) Form 11, which is the annual return to be filed by all LLPs, has a due date of May 30, 2024. The filing deadline falls within 60 days from the closure of the financial year. It is essential for LLPs to comply with this requirement to avoid penalties. Here are ...
New Option for Tax Payers to Import HSN Data from E-Invoices for GSTR 1 Regulation
There is a new option available for tax payers regarding the import of HSN (Harmonized System of Nomenclature) data from E-Invoices for GSTR 1 regulation. This new option allows tax payers to import HSN data into GSTR 1 from the E-Invoices generated. With this feature, tax payers will be able to imp...
Mutual Fund accounts are kept on Hold due to incomplete KYC. Here is how MF investors can check KYC status online
According to KYC registration entities (KRAs), around 1.3 crore mutual accounts are ‘on hold’ due to incomplete KYC. The reason behind this is that the individuals have provided non-Aadhaar and non-officially valid documents during the initial KYC registration process. As per the new rules set b...
Income Tax Due Dates of May 2024
Below is the detailed Income Tax compliance schedule for May 2024. Adhering to these deadlines is essential to avoid penalties. Understanding and abiding to the specified income tax due dates are crucial to avoid late filing penalties and interest charges. The submission of Forms 3BB, 49C, 61A...
Centre approves appointment of Sanjaya Kumar Mishra as President, GSTAT
The Appointment committee of Cabinet has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice, Jharkhand High Court as President GST Appellate Tribunal (GSTAT) for 4 years. The selection was made on the recommendations of a Search-Cum-Selection Committee. This will speed up the pro...
Enhancement in the GST Portal from 3rd May 2024
1. GSTN is pleased to inform that an enhanced version of the GST portal would be launched on 3rd May 2024. The effort is to improve user experience and ensure that the information you need is accessible and easy to navigate. 2. Key Enhancements Include (PDF with screenshots att...
GST Appellate Tribunals to be set up by Mid-Financial Year 2024-2025
A significant development is on the horizon for taxpayers and professionals dealing with Goods and Services Tax (GST) disputes awaiting to file appeals. An appellate tribunal specifically dedicated to GST matters is expected to begin function in the latter part of the current fiscal year. This antic...
