Daily Tax Updates:
Date June 6, 2017
- E-Filing Income Tax return based on the Supreme Court judgment on 9 June 2017. If you don’t have an Aadhaar Number yet: You can e-file tax returns without applying for Aadhaar. But If you have Aadhaar Number: If you finish your e-filing on before 1st July 2017, it is not mandatory to mention your Aadhaar no.
- Levy GST @ 18% if rate of tax is not known at time of receipt of Advance. Treat Supply as Inter-state, if not known at time of supply.
- GST registration for businesses to reopen on June 25: If you have not been able to register on the GST Network within the deadline ended on 15 June, do not panic! There’s one more chance coming your way as the registration for existing excise, service tax and VAT payers will reopen on June 25.
- MCA issued EXEMPTION TO PRIVATE COMPANIES UNDER SECTION 462 OF COMPANIES ACT, 2013 vide notification No. F. No. 1/1/2014-CL-V dated 13th June 2017 as Insertions / Amendments to the Notification GSR 464(E ) dated 5th June , 2015.
- Bankruptcy Bill gets Cabinet nod: A proposal to introduce a Bill in Parliament for setting up a Resolution Corporation to deal with bankruptcy in banks, insurance companies and financial entities received the Cabinet go ahead on Wednesday.
- SEBI has issued a comprehensive framework on margin trading facility (MTF) including disclosure norms and eligibility requirements for brokers to provide it to clients.