The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance& States/ UTs. The GST Council has made the following recommendations: 1. Levy of Compensation Cess to be extended beyond the transition period of five years i.e. beyond June, 2022, for such period as may be required to meet the revenue gap. Further details to be worked out. 2. Centre is releasing compensation of ₹ 20,000 crore to States today towards loss of revenue during 2020-21 and an amount of about ₹ 25,000 crore towards IGST of 2017-18 by next week. 3. Enhancement in features of return filing: In its 39 th ...
Section 80DD: Deduction in respect of maintenance including medical treatment of a Dependent who is person with disability. a. Eligible Assessee: Resident Individual & HUF b. Maximum amount of deduction: (Flat deduction irrespective of expenditure) 1. Rs. 75,000 in case of Normal disability* . 2. Rs. 1,25,000 in case of Severe disability**. c. Conditions: 1. Deduction is allowed when assessee should incur expenses on medical treatment or deposit any amount for maintenance of a dependent of taxpayer and not the taxpayer himself. 2. This deduction is not allowed if dependent relative take deduction u/s 80U. 3. Relative for Individual: Dependent (spouse, brother, sister, children, mother, father) 4. ...
Notification No.: 62/2020-Central Tax Effective from 21 st August, 2020 Aadhar Authentication for GST Registration Where an applicant, other than notified u/s 25(6D), opts for authentication for Aadhar number, he shall, while submitting application under sub rule (4), with effect from 21 st August, 2020, undergo authentication of Aadhar number and the date of submission of the application in such cases shall be the date of authentication of the Aadhar number, or fifteen days from the submission of the application in Part-B of Form GST REG-01 under sub-rule (4), whichever is earlier. Where person fails to Aadhar authentication Provided that where a person, other than a person notified u/s 25(6D), fails to undergo authentication of Aadhar number as specified in sub-rule (4A) of rule 8 or does not opt for authentication of Aadhar number, the registration shall be granted only after physical verification of the place of business in the presence of the said person, in the ...
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