RBI new Web portal for Unclaimed Deposits The RBI has launched the Centralised Web Portal “UDGAM” (Unclaimed Deposits Gateway to access information). This portal has been developed for use by members of public to facilitate and simplify the process of searching for their unclaimed deposits across multiple banks at one place. Further, the launch of… Read More »
Income Tax New Change I Inventory Valuation of Businessmen I New Form 6C I CA Satbir Singh
CBDT relased Draft form 6C for inventory valuation report. The Finance Act 2023 substituted section 142(2A) to empower the AO to appoint a cost accountant for the valuation of inventory. The cost accountant is required to submit the report in a prescribed format. To implement the amendment, the CBDT has released draft Form No. 6C… Read More »
GUIDELINES FOR COMPULSORY SELECTION OF RETURN FOR COMPLETE SCRUTINY DURING FINANCIAL YEAR – PROCEDURE FOR COMPULSORY SELECTION IN SUCH CASES CIRCULAR F. NO. 225/66/2023-ITA-II, DATED 23-8-2023 Kindly refer to Boards’ Guidelines dated 24-5-2023 issued from F.No. 225/66/2023 /ITA-II on the above subject. Based on these guidelines, various letters/queries have been received in the Board from DsGIT(Inv.) and… Read More »
New Income Tax Notices I Be Aware I TDS Deductor & TCS collector I New Option I CA Satbir Singh
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The GST Council recommended various changes in the GST laws. In line with the recommendations of the GST Council Meeting, CBIC has come up with following Notifications dated 31-07-2023 and 04-08-2023 and Circulars dated 01-08-2023. The analysis of such Notifications and Circulars has been enclosed for your ready reference. Notification No. Date Content 27/2023-CT 31-Jul-2023… Read More »
Notification No. 38/2023- Central Tax , CGST (Second Amendment) Rules 2023. NOTIFICATION New Delhi, the 4th August, 2023 No. 38/2023- Central Tax G.S.R. 590(E).— In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby… Read More »
Notification No. 37/2023- Central Tax NOTIFICATION New Delhi, the 4th August, 2023 No. 37/2023- Central Tax G.S.R. 589(E).— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council,… Read More »
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 4th August, 2023 No. 36/2023- Central Tax G.S.R. 588(E).—In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central… Read More »