Clarification on eligibility of Startups for tax exemption
CBDT on 22nd August 2019 has clarified that the start ups with turnover upto Rs. 25 crores will get tax holiday on fulfilling certain conditions. It is not enough for the company to be merely registered with the department of promotion of industry and internal trade (DPIIT). Start up must fulfill the eligibility criteria as per Section 80-IAC.
GST Network prescribed Steps to file GSTR-9C
The Goods and Service Tax network on 20th August 2019 has issued clarification under “News and updates section” on the GSTN portal to prescribe the steps to be taken by taxpayers to file Form GSTR 9C.
Clarification regarding DSC, requirement of filing GSTR-9 and steps to be followed on the GST portal for filing GSTR-9C has been provided.
CBIC notifies Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019
The Central Board of Indirect Taxes and Customs (CBIC) vide Notification dated 21st August 2019 has published Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 which shall come in force from 1st September 2019.
The scheme aims at dispute resolution from pre-GST era. Declaration is required to be made before 31st December in Form SVLDRS-1.
