The Finance Ministry has permitted the composition scheme taxpayers to file a self-assessed tax return in one-page statement – Form GST CMP 08 of the Central Goods and Service Tax Rules, 2017. This quarterly return has to be filed after every quarter by the 18th day of the month.

Among the total of 1.21 crore GST registered businesses, 20 lakh businesses which are registered under the composition scheme are required to file the CMP 08, therefore, here we provide complete … Read More

MGT 7 Form is for the purpose of monitoring annual return details of a company. While the rest of the information is for general interest, the concerned individuals must know the upcoming MGT 7 due date for FY 2018-19 for avoiding any penalties. The MGT 7 needs to be filled by all the businesses in electronic form provided by the Ministry of Corporate Affairs (MCA). The form is further managed via electronic modes by Registrar of Companies working under MCA … Read More

Tax is a pivotal arm for good governance of a state or nation.

There are different types of taxes and they can all be categorized into two main groups i.e Direct tax and Indirect Tax.

A direct tax is levied on the income or profit of an individual. Income tax is an example of direct tax. Indirect tax is levied on goods and services.

Income tax due dates comes every year in March ending must be … Read More

The resurgence of GST mechanism marks the beginning of the trial phase for the same. With the desideratum to make the taxpayers well-acquainted with the revamps introduced in new GST return system, the trial period has been fixed by the Finance Minister.

Note: The FM has announced the RET 1 applicability and approved it in the 35th GST council meeting.

The whole plan has been rolled out by the Finance Minister, and the period from July to September has been … Read More

Get to know the TDS return due dates and TCS return due dates with last dates for filing for AY 2021-22 (FY 2020-21). E-filings return of TDS/TCS  are filed on a quarterly basis and the quarterly statements are accepted in regard to provisions of the Income Tax Department. The income Tax department of India modified file formats in relation to TDS and TCS statements. Deductors/collectors need to ready e-TDS/TCS statements according to the file formats with the help of NSDL … Read More

The MSME 1 Form has been devised for the half-yearly return payment with the Registrar of Companies (ROC) against the outstanding payments to Micro or Small Enterprises. The attempt has been made by the Ministry of Corporate Affairs in connection of protecting the rights and interest of the small group of companies or business.

‘Compliance’ should be prioritized by all Specified Companies Whether Public or a Private, Micro or Small and the Ministry laid emphasis on … Read More