Tax Connect: 310th Issue

Tax Calendar

Income tax

NOTIFICATION

AMENDMENT NOTIFICATION NO. 83/2021 DATED 29TH JULY,2021

OUR COMMENTS: The Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. Short title and commencement.––

(1) These rules may be called the Income-tax (21st Amendment) Rules, 2021.

(2) They shall come into force from the date of publication of notification in the Official Gazette

2. In the Income-tax Rules, 1962, after rule 129, the following rules shall be inserted, namely:-

“Rule 130. Omission of certain rules and Forms and savings.-(1) Rules 5A, 5AB, 6ABB, 12B, 12BA, 16D, 16DD, 16E, 16F, 18B, 18BB, 18BBA, 18DD, 18DDA, 20AB, 29AA, 29D, 37, 37E, 37F, 44A, 48, 123 and rule 124 shall be omitted.

(2) In Appendix II, Forms ITR-8, 2B, 2C, 2E, 3AA, 3AAA, 3BA, 4, 5, 5A, 10AA, 10C, 10CC, 10CCA, 10CCAA, 10CCAB, 10CCABA, 10CCAC, 10CCAD, 10CCAE, 10CCAF, 10CCAG, 10CCAH, 10CCAI, 10CCBA, 10CCBB, 10CCBBA, 10CCBC, 10CCBD, 10DB, 10DC, 10G, 10HA, 11, 11A, 12, 12A, 15I, 15J, 16AA, 22, 24, 26, 27E, 30, 34A, 34B, 34BA, 37, 37EE, 37F, 37G, 37H, 37-I, 54, 55, 56A, 56AA, 56B, 56BA, 56C, 56CA, 56E, 56F, 56FF, 56G, 56H, 58A, 58B, 63, 63A and Form 63AA shall be omitted.

(3) Notwithstanding such omission, on and from the date of commencement of this rule–

(i) any proceeding pending before any income-tax authority, any Appellate Tribunal or any court, by way of appeal, reference or revision, shall be continued and disposed of as if rules and forms mentioned in sub-rule (1) and sub-rule (2) have not been omitted;

(ii) any agreement entered into, appointment made, approval given, recognition granted, direction, instruction, notification, or order issued under the rules and Forms mentioned in sub-rule (1) and sub-rule (2) shall be deemed to continue in force as if rules and forms mentioned in sub-rule (1) and sub-rule (2) have not been omitted.

Rule 131. Electronic furnishing of Forms, Returns, Statements, Reports, orders, etc.- (1) The Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems), as the case may be, may with the approval of the Board specify that any of the Forms, returns, statements, reports, orders, by whatever name called, prescribed in Appendix II, shall be furnished electronically-

(i) under digital signature, if the return of income is required to be furnished under digital signature; or

(ii) through electronic verification code in a case not covered under clause (i).

(2) The Principal Director General of Income-tax (Systems) or the Director-General of Income-tax (Systems), as the case may be, shall-

(i) with the approval of the Board specify the Forms, returns, statements, reports, orders, referred to in sub-rule (1), which are to be furnished electronically;

(ii) lay down the data structure, standards, and procedure of furnishing and verification of such Forms, returns, statements, reports, orders, including modification in format, if required, to make it compatible for furnishing electronically; and

(iii) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said Forms, returns, statements, reports, orders.”.

[For further details please refer to the notification]

GST

NOTIFICATION AMENDMENT NOTIFICATION NO. 30/2021 DATED 30TH JULY,2021

OUR COMMENTS: The Central Goods and Services Tax Act, 2017 (12 of 2017), makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-

1. Short title and commencement. –

(1) These rules may be called the Central Goods and Services Tax (Sixth Amendment) Rules, 2021.

(2) They shall come into force from the 1st day of August 2021.

2. In the Central Goods and Services Tax Rules, 2017 for Rule 80 shall be substituted.

3. In the said rules, in FORM GSTR-9, in the instructions, –

(a) in paragraph 4, –

(A) after the word, letters and figures “or FY 2019-20”, the word, letters, and figures “or FY 2020-21” shall be inserted;

(B) in the Table, in the second column, for the word and figures “and 2019-20” wherever they occur, the word and figures “, 2019-20 and 2020-21” shall be substituted;

(b) in paragraph 5, in the Table, in the second column, –

(A) against serial number 6B, after the letters and figures “FY 2019-20”, the letters, figures and word “and 2020-21” shall be inserted;

(B) against serial numbers 6C and 6D, –

(I) after the word, letters, and figures “For FY 2019-20”, the word and figures “and 2020-21” shall be inserted;

(II) for the word and figures “and 2019-20”, the figures and word “, 2019-20 and 2020-21” shall be substituted;

(C) against serial number 6E, for the letters and figures “FY 2019-20”, the letters, figures, and word “FY 2019-20 and 2020-21” shall be substituted;

(D) against serial numbers 7A, 7B, 7C, 7D, 7E, 7F, 7G, and 7H, in the entry, for the figures and word “2018-19 and 2019-20”, the figures and word “2018-19, 2019-20 and 2020-21” shall be substituted;

(c) in paragraph 7, –

(A) after the words and figures “April 2020 to September 2020.”, the following shall be inserted, namely: –

“For FY 2020-21, Part V consists of particulars of transactions for the previous financial year but paid in the FORM GSTR-3B between April 2021 to September 2021.”;

(B) in the Table, in the second column, –

(I) against serial numbers 10 and 11, after the entries, the following entry shall be inserted, namely: –

“For FY 2020-21, details of additions or amendments to any of the supplies already declared in the returns of the previous financial year but such amendments were furnished in Table 9A, Table 9B, and Table 9C of FORM GSTR-1 of April 2021 to September 2021 shall be declared here.”;

(II) against serial number 12, –

(1) after the words, letters, and figures “For FY 2019-20, the registered person shall have an option to not fill this table.”, the following entry shall be inserted, namely: –

“For FY 2020-21, the aggregate value of reversal of ITC which was availed in the previous financial year but reversed in returns filed for the months of April 2021 to September 2021 shall be declared here. Table 4(B) of FORM GSTR-3B may be used for filling up these details.”;

(2) for the figures and word “2018-19 and 2019-20”, the figures and word “2018-19, 2019-20 and 2020-21” shall be substituted;

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