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Hi Reader,


Please find tax updates in Newsletter 27 dated 12.01.2022 as below:

Index

1. Income Tax Update
2. GST in Media
3. GST Article

Income Tax Update

1) 11.01.2022 : Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg. On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances... Read more

GST in Media

1) 10.01.2022 : 1% GST for sweets, namkeens sold over the counter, rules Karnataka AAR - A sweet shop manufacturing and selling sweets and namkeen over the counter only will be required to pay Goods & Services Tax (GST) at the rate of 1 per cent provided it is under composition scheme, Karnataka’ Authority for Advance Ruling (KAAR) has said. Read more

2) 11.01.2022 : ‘Process GST concession of visually impaired man’ - The Madras high court has directed the Centre to process the application by a visual impaired man seeking GST concession for purchasing the car. Read more.

3) 11.01.2022 : AAAR rules ready-to-eat fryums papad to draw 18% GST - Deciding the goods and services tax rate on fryums papad could be a messy affair with the Appellate Authority for Advance Rulings (AAAR) of Gujarat now ruling that the ready-to-eat product would draw 18 per cent rate. Read more

GST Article

1) MANDATORY PRE-DEPOSIT FOR FILING AN APPEAL UNDER GST LAWS - Authored by Ramesh Chandra Jena, B.A. (Hons.), M.A. (Eco.), D.M.M., LL.B., ADVOCATE & TAX CONSULTANT, - The pre-deposit means certain amount of demand of tax to be deposited by appellant prior to filing of an appeal before the Appellate Authorities. The Provision of pre-deposit is not a new concept under tax laws... Read more

2) Power Of Search, Seizure And Arrest Under GST Should Not Be Used To Harass Taxpayers - Authored by Sri Bimal Jain Sir - In any tax administration, the provisions for inspection, search, seizure and arrest are provided to protect the interest of revenue department as well as genuine taxpayers and as a restraint for tax evasion. However, it is... Read more
Hope the above updates is of use to you. Please share your feedback at [email protected]
Thank you,

Regards,
OTU Team

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