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In a continuously changing business environment in a fast-developing country like India, there is a need to keep oneself abreast of the frequently changing and evolving regulatory mechanism. To assist our clients in keeping pace with these changes which are bound to be there in a developing economy, we keep analyzing the provisions/policies and express our views on the same as and when a need for the same arises.

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SNR – Income Tax Update Income Tax/2020-21/02 Central Board of Direct Taxes (CBDT) has issued a clarification on 20th May 2020, that the provisions of section 269SU of the Income Tax Act 1961 shall not be applicable to a specified person having only B2B transactions i.e. no transaction with the retail customers if at least...

SNR – Income Tax Update Income Tax/2020-21/01 Finance Act 2020 has amended certain provisions of the Income Tax Act, 1961 having a great impact on the functioning of the registered Charitable Trusts and NGOs. These charitable trusts and NGOs have been burdened with the renewal of existing registration, setting an expiry date for registration, filing...

Insights

In a continuously changing business environment in a fast-developing country like India, there is a need to keep oneself abreast of the frequently changing and evolving regulatory mechanism. To assist our clients in keeping pace with these changes which are bound to be there in a developing economy, we keep analyzing the provisions/policies and express...

SNR – GST Update GST/2020-21/17 Central Board of Indirect Taxes & Customs (CBIC) has issued multiple notifications on 30th September 2020 for extension of due dates, E-invoicing & QR code applicability and exemptions etc. In this update, a summary of provisions contained in the aforesaid notifications are provided. A) GST Audit due date Extended Government...

SNR – GST Update GST/2020-21/13 Hon’ble Gujarat Authority for Advance Ruling (AAR) has given a ruling in the matter of “Shree Deepesh Kumar Anil Kumar Naik” holding that that Sale of land developed with primary amenities such as boundary wall, drainage line, water line, electricity line etc. is liable to GST as service of construction...

SNR – GST Update GST/2020-21/12 The 40th GST council meeting was held on 12th June’ 2020 via video conferencing. This was the first council meeting after the outbreak of COVID-19. The taxpayers were hoping to get few relaxations in this pandemic and the government was looking for the new avenues to boost up revenues. Key...