Road tax relief by state transport department

The Bengal transport department has extended till September 30 the time to pay road taxes and other charges on commercial vehicles without penalty.

A notification issued by the transport department on July 24 said no penalty would be levied on road tax and other charges on any vehicle other than stage carriages if the payment was made before September 30. The department also extended the validity of driving licenses, fitness certificates and permits of vehicles till the end of July.

“According to the order, if any of these documents had expired on or after February 1, those would be deemed to be valid till July 31,” said a transporter in Siliguri.

The extension of the date from June 30 to September 30 has come as a relief for transporters in north Bengal, especially the owners of commercial light vehicles. This is because thousands of such vehicles have been off the road for almost four months because of the coronavirus-induced lockdown and non-arrival of tourists.

Read More at: https://www.telegraphindia.com/west-bengal/coronavirus-pandemic-road-tax-relief-by-bengal-transport-department-till-september-30/cid/1787549

Indian exporters hit hard by new tax regulations, red tape requirements

Thousands of Indian exporters have been hit hard by new tax regulations, forcing some to close as doing business becomes more difficult. New Delhi said in June it had identified thousands of exporters that had claimed tax rebates based on bogus invoices and would require them to submit receipts before issuing refunds.

But the process has hit legitimate businesses, already struggling with a fall in orders since March amid a nationwide lockdown to slow the spread of the novel coronavirus, according to interviews with five exporters. The Federation of Indian Export Organisations (FIEO), a lobby group, said in a letter to the finance ministry that many businesses were being tagged as "risky" without being offered any explanation.

Some businesses had been harassed by tax officials and asked to submit up to 1,500 documents to prove they were complying with the new regulations, said Ajay Sahai, director general of FIEO. "Putting together these documents during the lockdown isn't an easy task, causing further delays," said Khalid Khan, another FIEO official, and an exporter from Mumbai.

The delays have led to trade volumes dipping by 2-3% every month since January, resulting in a loss of billions of dollars, according to data from the trade body. Government data show merchandise exports fell 36.71% in April-June from a year earlier to $51.32 billion. Industry sources cite the lockdown and new rules for the slump.

The finance ministry did not respond to a request for comment. The government last month said only 3.5% of India's 142,000 exporters had been identified as "risky" and after verification tax benefits for genuine exporters would be released within a month.

Mayank Gupta, joint secretary of the Indian Industries Association, a lobby group of small manufacturers, said the tax department was delaying the consignments of many exporters by 15-20 days. "Many exporters have stopped exporting as they are working on very thin margins and are unable to meet the demands for producing so many documents," said Gupta, an exporter of garment accessories to the Middle East and Europe.

Read More at: https://www.businesstoday.in/current/economy-politics/indian-exporters-hit-hard-by-new-tax-regulations-red-tape-requirements/story/410935.html

NAA issued Notice to Empanelment of Advocates/Law Firms are eligible for representing the NAA and DGAP before various Courts and Tribunals

National Anti-Profiteering Authority (NAA) issued a Notice Vide File NO. Admn (NAA), P&M/81/2019 dated July 23, 2020, to the Advocates/Firms and Senior Standing Counsels for representing the National Anti-Profiteering Authority (NAA) and the Director-General of Anti-Profiteering (DGAP) before various Courts and Tribunals is being drawn. Law Firms and practising advocates are eligible for empanelment.

The qualifications, experience, schedule of fee, other terms and conditions and the proforma application as have been prescribed by the National Anti-profiteering Authority vide its Guidelines for empanelment of advocates/ law firms for representing and assisting National Antiprofiteering Authority and the Director General of Anti-Profiteering before various Courts/Tribunal etc. are available on the Authority's Website at http://www.naa.gov.in.

Eligible applicants may send their applications to the Secretary, National Anti-profiteering Authority, 6th Floor, Tower-1, Jeevan Bharti Building, Connaught Place, New Delhi-110001 within 15 days from the date of this advertisement.

Important Notes:

1. The currently empanelled advocates/firms have to apply again in pursuance of this notice as a new list of empanelled advocates/firms would be drawn.
2. Advocates who have forwarded their applications/CVs to the Authority from time to time for empanelment are requested to apply afresh in the requisite format as per the Guidelines.

The Notice can be accessed at: http://www.naa.gov.in/docs/1595496959Advertise%20Letter.pdf

Form GSTR-4 (Annual Return) now available on GST Portal

w.e.f. 1st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 on annual basis for each financial year. Due date for filing FY 2019-20 Return is 31st August 2020.

* Revising FY 2018-19 ITR in view of communication as high risk information*

*

Joint Secretary TPL-I in the Ministry of Finance recently talked about a new development. 

In the past, when past assessments were reopened after 4-5 years, it caused a great deal of difficulty 2 tax payers 2 dig out old documents  

With a view to make life easier for tax payers, over the course of next 11 days, the department will be sending notices 2 some tax payers where they have got "high risk information" for FY 2018-19. Since time limit for revising return of income for AY 2019-20 is now extended to 31st July, 2020, taxpayers could, if they wanted and if necessary, revise their returns if something has been missed out. This will save a lot of trouble in future as there may not be a scrutiny / reopening / penalty. Also, obviously, all this can be done online.

So, those who get an sms or email in next few days for FY 2018-19, please take immediate action.

CA Amresh Vashisht

Meerut

CBDT to start e-campaign on Voluntary Compliance of Income Tax for FY 2018-19 from July 20, 2020

The Income Tax Department is all set to start an e-campaign on voluntary compliance or income Tax for the convenience of taxpayers from Monday. the 20th of July, 2020. The 11 days campaign ending on 31st July, 2020 focuses on the assessees Taxpayers who are either non-filers or have discrepancies/deficiency in their returns for the FY 2018-19.

The objective of the e-campaign rs to facilitate taxpayers to validate online their tax/financial transaction information available with the I-T Department, especially for the assessees for FY 2018-19 and promote voluntary compliance, so that they do not get into notice and scrutiny process etc.

This e-campaign Is being run for the benefit of the taxpayers, Under this e-campaign the Income Tax Department will send Email/SMS to identified taxpayers to verily their financial transactions related information received by the I-T Department from various sources such as Statement of Financial Transactions (SFT), Tax Deduction at Source (TDS), Tax Collection at Source (TCS), Foreign Remittances (Form 15CC) etc. The Department has also collected information related to GST exports, imports and transactions in securities, derivatives, commodities, mutual funds, etc., under information triangulation sot up and data analytics. It Is stated that data analysis has identified certain taxpayers with high value transactions who have not filed returns for AY 2019-20 (relevant to FY 2018-19), In addition to the non-filers, another set of return filers have also been identified wherein the high value transactions do not appear to be in line with their Income Tax Return.

Under the a-campaign, the taxpayers will be able to access details of the high value transaction related Information on the designated portal. They will also be able to submit online response by selecting among any of these options: (i) Information is correct, (ii) Information is not fully correct, (a) Information related to other person/year, (iv) Information is duplicate/Included in other displayed information, and (v) Information Is denied. There would be no need to visit any Income Tax office, as the response has to be submitted online.

It may be noted that the last date for filing as well as revising the Income Tax Return for Assessment Year 2019-20 (relevant to FY 2018-19) is 31st July 2020, Taxpayers are requested to avail the opportunity to participate In the e-campaign for their own ease and benefit.

CBIC extends the due date for furnishing Form GSTR-4 for the F.Y 2019-20 till August 31, 2020

CBIC vide Notification No. 59/2020 - Central Tax dated July 13, 2020, extends the due date for furnishing the return in FORM GSTR-4 of the CGST Rules, 2017, for the financial year ending March 31, 2020, till August 31, 2020, by such registered person those who are paying tax under section 10 of the CGST Act, 2017 or by availing the benefit of Notification No. 02/2019– Central Tax (Rate), dated March 07, 2019.

Further, the amendment made in the Notification No. 21/2019 - CT dated April 23, 2019,  in the third paragraph, in the first proviso, for the figures, letters and words 15th day of July, 2020, the figures, letters and words 31st day of August, 2020 shall be substituted.

CBIC received representation on extension of due date for Form GSTR-4 for F.Y 2019-20

As per the recent tweet of CBIC, the representations have been received on non-availability and extension of date of FORM GSTR-4 for F.Y 2019-20 on the common portal. The matter of extension of date of GSTR-4 for F.Y 2019-2020 is under consideration by the GST Implementation Committee.

Concessions given by Income Tax Department

*आयकर विभाग द्वारा दी गयी रियायते*

*1. टीडीएस व टीसीएस स्‍टेटमेंट फाइनल की तारीख बढ़ी* - 

आयकर विभाग ने वित्‍त वर्ष 2019-20 के लिए टीडीएस और टीसीएस स्‍टेटमेंट को फाइनल करने की समय-सीमा 31 जुलाई तक बढ़ा दी है।

वहीं, विभाग ने वित्‍त वित्त वर्ष 2019-20 के लिए टीडीएस और टीसीएस प्रमाण पत्र जारी करने की तारीख भी 15 अगस्त, 2020 तक के लिए बढ़ा दिया है।

*2. टैक्स सेविंग इन्वेस्टमेंट करने की तारीख 31 जुलाई तक*

आयकर विभाग ने इसके अलावा सेक्शन 80सी, 80डी आदि के तहत टैक्स सेविंग और इन्वेस्टमेंट (कर बचत और निवेश) की आखिरी तारीख 31 जुलाई तक के लिए बढ़ा दी है। इससे पहले इसकी आखिरी तारीख 30 जून, 2020 थी।

*3. आईटीआर फाइल करने की आखिरी तारीख 31 तक बढ़ी*

आयकर विभाग ने वित्त वर्ष 2018-19 के लिए ओरिजिनल या रिवाइज इनकम टैक्स रिटर्न फाइल करने की अंतिम तारीख बढ़ाकर 31 जुलाई 2020 तक कर दी है। इससे पहले इसकी आखिरी तारीख 30 जून थी।

*4. 2019-20 के लिए भी आईटीआर की समय-सीमा बढ़ी*

वित्त वर्ष 2019-20 के लिए टैक्स रिटर्न फाइल करने की तारीख बढ़ाकर 30 नवंबर 2020 तक कर दी गई है। इसका मतलब है, जो रिटर्न 31 जुलाई और 31 अक्टूबर 2020 तक फाइल करना था, उसे अब 30 नवंबर तक फाइल किया जा सकता है।

*5. 31 मार्च, 2021 तक करा सकते हैं पैन-आधार लिंक*

आयकर विभाग ने पैन-आधार लिंक करने की आखिरी तारीख को भी बढ़ाकर 31 मार्च 2021 कर दिया है। वर्तमान में इसकी समय-सीमा 30 जून को खत्म हो रही थी। यदि पैन-आधार तय वक्‍त से पहले लिंक नहीं किया, तो पैन कार्ड बेकार माना जाएगा।

*6. फॉर्म-16 जारी करने की तारीख भी 15 अगस्‍त बढ़ी*

आयकर विभाग की ओर से टीडीएस काटे जाने का सर्टिफिकेट यानी फॉर्म-16 और फॉर्म- 16ए जारी करने की आखिरी तारीख भी बढ़ाकर 15 अगस्त 2020 कर दी गई है।

*7. सेल्फ असेसमेंट की तारीख भी 30 नवंबर तक बढ़ी*

छोटे और मध्यम टैक्सपेयर्स को राहत देते हुए आयकर विभाग ने एक लाख रुपये तक की टैक्स वालों के सेल्फ असेसमेंट टैक्स के भुगतान की आखिरी तारीख भी बढ़ा दी है। अब नई तारीख 30 नवंबर, 2020 हो गई है।