September 2020

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

September 30, 2020

[By Jyotish M Shah, Partner] Widening the scope of TCS (Tax Collection at Source) on foreign remittance, selling overseas tour package, and sale of goods over a prescribed limit from 1st October 2020. Section 206C providing for TCS has been amended to widen the scope to cover: Authorised Dealer who

Concessional Income Tax Rate of 22% for Domestic Companies

September 11, 2020

Income Tax

[Source: www.taxmann.com] Finance Minister Nirmala Sitharaman promulgated the Taxation Laws (Amendment) Ordinance, 2019 on 20 September 2019 to further reduce the corporate tax rate for companies not availing specified tax exemptions. The Ordinance was replaced by the Taxation Laws (Amendment) Act, 2019 (‘the Amendment Act’) on receiving the assent of

Launch of GSTR-2B for the month of July 2020

September 3, 2020

GST

Press Release GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). It is a static statement and will be made available for each month, on

Widening the scope of TCS (Tax Collection at Source) from 1st Oct 2020

Concessional Income Tax Rate of 22% for Domestic Companies

Launch of GSTR-2B for the month of July 2020

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