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Central Government has come up with a new section 12AB in Union Budget 2020. It mandates the requirement of re-registration of 12AA and re-approval of existing 80G and 10 of all existing Charitable / Religious Institutions.
TDS is only required to be deducted by those buyers whose total sales, gross receipts or turnover from the business carried on by him exceed 10 crore rupees during the Preceding FY.
Amendment proposed in CGST & IGST Act, 2017 as per the Union Budget 2021, and its Impact on professionals and Taxpayers of the country.
The Government's decision on mandatory payment of at least 1% of GST tax liability in cash will only apply to establishments having an annual turnover of Rs. 6 Crore.
In this article, we discuss the Central Goods and Service Tax (Fourteenth Amendment) Rules, 2020 which was introduced by CBIC via Notification No. 94/2020 - Central Tax.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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