Amendment to ITR Forms and applicability
The ministry of finance has released Income-tax (Second Amendment) Rules, 2019 which come into force on April 1, 2019 and thereby amended the income tax rules, 1962. Along with some minor changes made in some of the clauses, the amendment also prescribes substitutes for the annual return forms: Form Sahaj (ITR-1), Form ITR-2, Form ITR-3, […]
Prior Intimation required to avail 3% CGST rate on ‘First supply’
On April 5, 2019, the Central Board of Indirect Taxes & Customs (‘CBIC’) has issued a circular clarifying a previous notification issued on 7th March regarding CGST on First Supplies which came into effect on April 1, 2019. What does the March 7 notification provide? As per the circular, a person registered has the option […]
