In June 2021, CBIC has issued certain notifications where in the due date for GST returns has been relaxed for people with GST liability upto 5 crores. The CBIC has issued Notification No. 28/2021 CT dated 30th June, 2021 to waived off the penalty payable by a registered person under section 125 of the CGST Act, 2017 for not complying with the requirement of Dynamic QR Code as notified vide Notification No. 14/2020-CT dated 21st March, 2020, till 30th September, 2021. Further, the CBIC has issued Circular No. 156/12/2021-GST to clarify various issues relating to applicability of Dynamic Quick Response (QR) Code on B2C (Registered person to Customer) invoices and compliance of Notification No. 14/2020-Central Tax, dated 21st March, 2020. To address the complaint related to misuse of PAN for obtaining GST registration, a functionality to register such complaints on GST Portal has been introduced.
On the Corporate law, MCA have introduced the facility to take shops and establishment registration at the time of incorporation itself through filing of e-form AGILE-PRO-S . MCA further announced a relief relation in additional fees for MCA forms falling due between Apr 2021 & July 2021. MCA now allows companies to conduct Extraordinary General Meetings (“EGMs”) through video conferencing (“VC”) or other audio visual means (“OAVM”) or by passing certain items through postal ballot till 31st December, 2021.
On the Direct taxes, the Income Tax Department launched its new e-filing Portal www.incometax.gov.in on 7th June, 2021. However, there are various technical issues/glitches in the portal till date. CBDT issued a Circular regarding use of functionality under Section 206AB and 206CCA of the Income-tax Act, 1961 through reporting portal.
For the detailed updates, refer the Monthly Newsletter for the month of June 2021 enclosed herewith.
Mahesh V
Statutory Updates - June 2021
Updated: Jul 8, 2021
Comments