Y K Law Associates

01/06/2025

‼️Breaking News
Excel utilities for ITR 1 & 4 for AY 25-26 now available.

11/06/2024

https://mybusinesscard.click/YK-LAW-ASSOCIATES-(LAW-FIRM)

Yameen Khan (Advocate) YK LAW ASSOCIATES (Law Firm) 1. GST COMPLIANCES (Including GST Registration, — Returns, Tax Depositing etc.) 2.INCOME TAX COMPLIANCES (Including Pan, ITR, Tax Depositing etc.), 3.TDS COMPLIANCES (Including Tan, Returns Tax Depositing etc.) 4.ACCOUNTING WRITING FIRM 5.COMPANY...

28/04/2022

15/08/2020

स्वतंत्रता दिवस की हार्दिक शुभकामनाएं

24/06/2020

☝🏻 *CBDT* has issued a notification today further extending few of the time limits of compliances under Taxation & Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 as under:

👉 Due date for filing Income Tax Return for F.Y 2018-19 has been extended to 31st July, 2020

👉 Waiver of interest u/s 234A in cases where self assessment tax is upto Rs 1 lac

👉 Deductions under Ch-VIA like Sec 80C, 80D, 80G, etc can now be made upto 31st July, 2020

👉The date for furnishing of TDS/TCS statements for the quarter ending on 31st March, 2020 has been extended to 31st July, 2020

💐Regards:
*Advocate Yameen Khan*

12/06/2020

As per the recommendations of the 40th GST Council late fee for non-furnishing FORM GSTR-3B for the tax period from July, 2017 to January, 2020 has been reduced / waived as under: -
i. ‘NIL’ late fee if there is no tax liability;
ii. Maximum late fee capped at Rs. 500/- per return if there is any tax liability

a) Whether Interest under Section 50 will be levied on FORM GSTR-3B for the tax period from July, 2017 to January, 2020 or not?

b) Benefit of Input Tax Credit will be allowed for Financial Year 2017-18 and 2018-19 or not?

12/06/2020

#1 #
*GST Council Meeting Updates*

1️⃣ For all those who have no tax liability but have not filed GST returns for tax period July 2017 - Jan 2020 (prior to period), there shall be no late fee at all

2️⃣ For people who have tax liability, maximum late fee for non-filing of GSTR-3B returns for period Jul 2017 - Jan 2020 has been capped to ₹ 500
This will apply to all returns submitted during Jul 1, 2020 - Sep 30, 2020

3️⃣ For small tax payers whose aggregate turnover is up to ₹ 5 crore, the rate of interest for late furnishing of GST returns for Feb, Mar and April 2020, beyond July 6, 2020: the rate of interest is being reduced from 18% to 9%

4️⃣ Small tax payers whose aggregate turnover is up to ₹ 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June and July 2020, by September 2020

5️⃣ Tax payers who could not get cancelled GST registrations restored in time are being given an opportunity to apply for revocation of cancellation of registration up to September 30, 2020
In all cases where registration has been cancelled till June 12, 2020

Source: Ministry of Finance - official Twitter channel

Notification shall be issued for implementing these decisions taken.