CA. Nihar N. Jambusaria - President, ICAI's August 2021 message for members and students.
Shri Deepak Das, a 1986-batch Indian Civil Accounts Service officer, is appointed by the Government of India as the Controller General of Accounts, Department of Expenditure, Ministry of Finance, with effect from August 1, 2021.
The gross GST revenue collected in the month of July 2021 is Rs. 1,16,393 crore of which CGST is Rs. 22,197 crores, SGST is Rs. 28,541 crores, IGST is Rs. 57,864 crore and Cess is Rs. 7,790 crores (including Rs. 815 crores collected on import of goods).
MCA has clarified that spending of CSR funds for COVID-19 vaccination for persons other than the employees and their families is considered to be an eligible CSR activity under items no (i) and (xii) of Schedule VII of the Companies Act, 2013.
Starting 1st August 2021, taxpayers will not be required to get their annual accounts audited by a CA/CMA for furnishing an audited reconciliation statement in Form GSTR-9C.
CBIC has issued the Central Goods and Services Tax (Sixth Amendment) Rules, 2021 under which, amendments have been made under rule 80 relating to Annual Return, instructions related to the filing of GSTR-9 and Form GSTR-9C.
The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 - Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21.
CBDT has notified the omission of certain rules and forms including Rules 5A, 5AB, 6ABB, 12B, 12BA, 16D, 16DD, 16E, 16F, 18B, 18BB, 18BBA, 18DD, 18DDA, 20AB, 29AA, 29D, 37, 37E, 37F, 44A, 48, 123 and 124 via Income-tax (21st Amendment) Rules, 2021.
GoI has received Rs. 5,47,399 crore up to June 2021 comprising Rs. 4,12,680 crore os Tax Revenue, Rs. 1,27,317 crore of Non Tax Revenue and Rs. 7,402 crore of Non Debt Capital Receipts that includes Capital Receipts and Disinvestment Proceeds.
Income tax refunds of Rs. 13,341 crore have been issued in 19,89,912 cases & corporate tax refunds of Rs. 30,651 crore have been issued in 1,12,567 cases.
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