Due date for Filing ITR for FY 2018-19 extended to August 31
The Central Board of Direct Taxes by an order dated 23rd July, 2019 has extended the deadline for filing Income Tax Return for Financial Year 2018-19 by individuals and HUF to August 31, 2019. The original due date was 31st July. As per the order, extension is applicable to all taxpayers liable to file their […]
CBIC issued clarification on supply of ITeS services under GST
Central Board of Indirect Taxes and Customs has clarified on issues related to supply of Information Technology enabled Services (“ITeS services”) such as call center, business process outsourcing services, etc. and “Intermediaries” to overseas entities under GST law, by a circular dated 18th July, 2019. This clarification has been issued in response to various representations received.
The Board discussed three possible scenarios when a supplier of ITeS located in India supplies services for and on behalf of a client located abroad.
t has also been clarified that supplier of ITeS, who is not an ‘intermediary’ can avail benefits of export of services if he satisfies the criteria mentioned in section 2(6) of the IGST Act
Drugs and Cosmetic (11th amendment)Rules notified
The Drugs and Cosmetic Rules, 1945 has been amended by Drugs and Cosmetics (Eleventh Amendment) Rules, 2019 dated 17th July 2019.
The newly revised rules now require manufacturers and distributors of drugs specified in Schedule C and C (1) to pay a “licence retention fee” for a valid licence. In case of failure to pay, the licensee will be required to pay a late fee calculated at the rate of 2 percent of the licence fee for every month up to six months. In case of non-payment, the licence will be cancelled. The same shall also apply to holders of a loan licence.
The Rules related to renewal has been removed from Rule 150J and 150E. Form 24C and 26J has also been amended.
