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GST Council Extends Due Dates Of Various Compliances, Provides Relief On Import Of COVID Related Relief Items

Read more about GST Council Extends Due Dates Of Various Compliances, Provides Relief On Import Of COVID Related Relief Items on Business Standard. Commenting on the announcements made in the GST Council Meeting on Friday, Uday Shankar, President, Federation of Indian Chambers of Commerce & Industry (FICCI), noted that the organization welcomes the decisions announced by the GST Council and ....

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Income Tax Dept to launch new e-filing portal for taxpayers on June 7

The existing web portal will be shut for six days between June 1-6.
Officials said the new portal will be made more user-friendly.
An order issued by the systems wing of the department on Wednesday said the transition from the old portal www.incometaxindiaefiling.gov.in to the new www.incometaxgov.in will be completed and made operational from June 7.
In preparation of this launch and for migration activities, the existing portal of the department at www.incometaxindiaefiling.gov.in would not be available for a brief period of six days from June 1 to 6, the order said. ....

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Market may see gap-down start

SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 188 points at the opening bell.
On the coronavirus front, investors continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Authorities reported 392,488 new cases in the previous 24 hours to push total cases to 19.56 million. So far, the virus has killed 215,542 people.
On the political front, election results 2021 for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry assemblies were declared on Sunday (May 2). The TMC managed a landslide victory in West Bengal, the same as DMK in Tamil Nadu and Left-led LDF in Kerala. The BJP managed to retain power in Assam and cruised to victory in Puducherry. ....

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Net Indirect Tax collections Spurt 12.3% In FY21

Read more about Net Indirect Tax collections Spurt 12.3% In FY21 on Business Standard. The provisional figures for indirect tax collections (GST & non-GST) for the Financial Year 2020-21 show that net revenue collections are at Rs 10.71 lakh crore as compared to 9.54 lakh Crore for the Financial Year 2019-20, thereby registering a ....

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Big Tech firms fear steeper tax bills with India's new social media rules

India’s new social media rules can lead to Big Tech companies such as Google, Facebook and Twitter setting up permanent establishments here, which the Income Tax department may consider as “liaison offices”. ....

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