Budget 2022 – An Analysis by JSCO team
We Present the Preliminary Analysis of Important Tax changes announced in Budget 2022 on 01.02.2022 by our Finance Minister.
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Input Tax credit limit restricted to the ITC available in GSTR 2A from earlier additional ITC of 5% over and above ITC in GSTR 2A
GST department has vide Notification No. 39/2021 – Central Tax Dt. 21st December, 2021, introduced the effective date of amendment made in Section 109 of Finance Act, 2021 This amendment made by Finance Act, 2021 shall be made effective from 01.01.2022 According to above amendment one more condition has been added to section 16 of …
Aadhaar Authentication mandatory for filing refund application and revocation application w.e.f January 1st, 2022: Notification
CBIC has vide notification No. 35/2021-Central Tax has notified rules related to Mandatory Aadhar authentication for GST Refund application and GST for GST Registration Revocation application. Now CBIC has vide Notification No. 38/2021–Central Tax | Dated: 21st December, 2021 made these rules applicable w.e.f 1st Jan 2022. As per sub-rule (2), sub-rule (3), clause (i) …
31.12.2021 due date for return filing
Due date for filing Income tax return for any type of entity which is not otherwise required to get their books of accounts audited under Income tax act or any other act is 31.12.2021. This rule is not applicable for company. For all companies due date is 15.02.2021.