Sunday is last day to file GSTR-9

February 25, 2021 14:26

Information kind courtesy CA (Dr) Raj Chawla:

1. Government of India has introduced The Tribunals Reforms (RATIONALISATION and CONDITIONS OF SERVICE) BILL, 2021 regarding Govt. introduces 'Tribunals Reforms' Bill in Lok Sabha, seeks to abolish AAR and 4 other Tribunals. With a view to streamline tribunals, the Tribunals Reforms (Rationalisation and Conditions of Service) Bill, 2021 is proposed to be enacted to abolish certain tribunals and authorities and to provide a mechanism for filing appeal directly to the commercial court or the High Court, as the case may be.

2. 28.2.21 (Sunday) is last date to file GSTR-9 for turnover above 2 cr & GSTR-9C for turnover above 5 cr for FY 19-20.

3. GSTR 9C offline utility is upgraded: GST Auditors make sure to upgrade latest version tool. Read more here.

4. Ministry of finance has issued a press release dated February 22, 2021 regarding CBIC provides facilitation for exporters having IGST refund issues. CBIC has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR1 and GSTR3B mismatch error. This overcomes the problem of refund blockage by allowing refunds subject to undertakings/submission of CA certificates by the exporters and post refund audit scrutiny. This facilitation was issued vide circular 04/2021 and would be applicable to all shipping bills filed up to 31.03.2021.

5. Mandatory legal compliances under the Companies Act, 2013 in India.

6. Every company is required for mandatory fulfilling of certain legal compliances under the Companies Act, 2013 in India. Read more here.

7. Reliance Industries Limited (RIL), which has proposed hiving off its oil to chemicals (O2C) business into an independent subsidiary, RIL had received an approval from Sebi and stock exchanges to create this subsidiary. The company now requires the approval of equity shareholders and creditors, regulatory authorities, and the income-tax authority, besides the NCLTs in Mumbai and Ahmedabad. RIL said the approval process had commenced and was expected to be completed by the second quarter of the 2021-22 financial year.

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