Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020- {Part 11}-Income Tax Act, 1961, Option u/s 115BAC from FY 2020-21 (AY 2021-22) {Based on CBDT Circular No. C 1 of 2020 dated 13.4.2020}

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Section 115BAC has been inserted by the Finance Act, It is applicable for FY 2020-21, which is relevant for AY 2021-22. As per section 115BAC(1) an *Individual* or *HUF* can *opt* to pay income-tax for assessment year 2021-22 or any subsequent assessment year at the rates specified therein, instead of the rates specified in section …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 3}-Goods and Services Tax Laws,

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Extension No extension has been allowed for the months February, March and April, 2020. However, extension has been allowed for the month of May, 2020 by inserting following provisos in the 1st paragraph of Notification No. 29/2020-Central Tax dated 23.3.2020 vide Notification No. 36/2020- Central Tax dated 3.4.2020: “Provided also that, for taxpayers having an …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020- {Part-7}, Payment of ESI Contribution

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In the wake of the coronavirus epidemic, Director-General of ESIC has relaxed the norms of the ESI (General) Regulations, 1950 by extension of due dates for payment of ESI contributions for the months of February, 2020 and March, 2020. What are the normal due dates for ESIC payment for the month of February, 2020 and …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020-{Part-10}, Payment of ESI Contribution

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Extensions for the months of February and March, 2020 In Part-7 of the Quick Reference Series {hereinafter referred to as the *QR Series*) it was mentioned as follows:          (i) The normal due dates for payment of ESI for the month of –               (a) February …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 9}-Goods and Services Tax Laws, LUT for Exporters / Zero rated outward supplies under GST

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Notification No. 37/2017-Central Tax, dated 4.10.2017, requires furnishing of Letter of Undertaking (LUT) for a financial year in place of a Bond who intends to supply goods or services for export without payment of integrated tax subject to conditions mentioned therein Letter of Undertaking (LUT) furnished for the purposes of zero-rated supplies as per provisions …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 8}-Goods and Services Tax Laws, Payment of TDS under GST

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Under GST law TDS is required to be deducted and paid in accordance with the provisions of section 51 of the CGST Act, 2017 w. Notification No. 50/2018 – Central Tax dated 13.9.2018, applicable w.e.f. 1.10.2018. Payment of TDS As per section 51(2) of the CGST Act, the amount deducted as tax under this section …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 6} {Revised) {Revised is prepared in order to correct para 4}-Goods and Services Tax Laws, e-way Bill* u/r 138

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Rule 138 of the CGST Rules, 2017 prescribes the law relating to generation and use of e-way In exercise of the powers conferred by the newly inserted section 168A of the Central Goods and Services Tax Act, 2017 vide the Ordinance, 2020, the Central Board of Indirect Taxes and Customs has issued Notification No. 35/2020 …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 6}-Goods and Services Tax Laws, *e-way Bill* u/r 138

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Rule 138 of the CGST Rules, 2017 prescribes the law relating to generation and use of e-way In exercise of the powers conferred by the newly inserted section 168A of the Central Goods and Services Tax Act, 2017 vide the Ordinance, 2020, the Central Board of Indirect Taxes and Customs has issued Notification No. 35/2020 …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 5}-Goods and Services Tax Laws, GST TDS Return u/s 39(3) in Form GSTR 7

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Under GST law TDS is required to be deducted and paid in accordance with the provisions of section 51 of the CGST Act, 2017 w. Notification No. 50/2018 – Central Tax dated 13.9.2018, applicable w.e.f. 1.10.2018. Payment of TDS As per section 51(2) of the CGST Act, the amount deducted as tax under this section …
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Quick reference to tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Notifications issued after 20.3.2020 {Part 4}- Goods and Services Tax Laws, GST Return u/s 37(1) r/w rule in Form GSTR-1

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Following are the due dates of Furnishing of details of outward supplies in Form GSTR-1: GSTR-1 for the month of March, 2020                               – 11. 4.2020 GSTR-1 for the month of April, 2020                    …
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