Blog {Team GSTFORCE.COM}

A digital pipeline has been laid  through linking of Jan-Dhan accounts as well as other accounts with the account holders’ mobile numbers and Aadhaar [Jan Dhan-Aadhaar-Mobile (JAM)]. This infrastructure pipeline is providing the necessary backbone for DBT flows, adoption of social security/pension schemes, etc.The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August, 2014 with an aim to provide bank accounts to unbanked persons.  Out of around 126 crore operative CASA accounts as on 20 th  March 2020, more than 38 crore have been opened under PMJDY.   Enablement of interoperable, speedy and accurate transactions: The bank accounts are enabled to carry out both cash and digital transactions at bank branches, Business Correspondent (BC) points, merchant locations and on internet. Using biometric ID, highly cost-effective payments solutions like AePS/ Bhim Aadhaar Pay have been created both for banking services and for retail payments.   The Digital Paymen...

*Knowledge Tree Video on Finance Act 2020!!!* *Amendment in Section 6, Residential status of Individual being resident of India* Question & Answer by *CA Nitin Kanwar* on issues and its applicability 👇🏻👇🏻👇🏻 https://youtu.be/VWoMIvaQ3Ac   *Will be discussing in this part*. 1. *Is there any need of clarification or press release issued on 02nd Feb, 2020,by finance Ministry, just after budget*? 2. *Is there any impact on HNI, Indian citizen, who are nomads or stateless and what will be the impact of Rs. 15 lacs on these HNI professionals*?  3. *What is the anamoly left in defining income from foreign sources? Explain it with some example in statute itself*? 4. *What do you mean by liable to tax? Is there any Apex judgement in its support*? 5. *Which mischief (besides stateless person) this amendment want to curb and rationale behind it*? 6. *What will be impact on indian citizens who are staying in any other country with which india does* a. have treaty  b. No...

Ministry of Corporate Affairs Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India contribute Rs 28.80 crore towards PM CARES Fund to combat COVID-19 outbreak Posted On: 10 APR 2020 9:21AM by PIB Delhi The Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India, the three Professional Institutes under the Ministry of Corporate Affairs, have come forward to donate an  amount of Rs 28.80 crore to PM-CARES Fund  for providing assistance to those impacted by the COVID-19   pandemic. The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)  was created on 28 th  March 2020 following the COVID-19 pandemic in India.   This dedicated national fund has been set up with the primary objective of dealing with any kind of emergency or distress situation as posed by the COVID-19 pande...

07/04/2020 Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified in  Notifications 30/2020 to 36/2020  dated 03.04.2020.  Circular No. 136/06/2020-GST  dated 3rd April, 2020 has been issued. 1. Normal Taxpayers filing Form GSTR-3B a.Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY Tax period Late fees waived if return filed on or before Feb, 2020 24th June, 2020 March, 2020 24th June, 2020 April, 2020 24th June, 2020 May, 2020 27th June, 2020 (extended due date for filing) b.Taxpayers having aggregate turnover of > Rs. 1.5 crores and upto Rs. 5 crores in preceding FY Tax period Late fees waived if return filed on or before Feb, 2020 29th June, 2020 March, 2020 29th June, 2020 April, 2020 30th June, 2020 c.Taxpayers having aggregate turnover of upto Rs. 1.5 crores in preceding FY Return/Tax period Late fees waived if return filed on or before Feb, 2020 30th June, 2020 March, 2...