Update regarding GSTR-3B data for the month of July-17




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CBDT again extend due dates of electronic filing of various forms

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The Central Board of Direct Taxes again via Circular No. 16/2021 dated 29th August 2021  has extended the due dates for electronic filing of various forms under the Income-tax Act, 1961 considering the difficulties reported by the taxpayers and other stakeholders. The deadline for electronic filing has been extended for the following forms: Particulars Original due date /   Extended Due date Extended due date v ia Circular No. 16/2021 dt. 29th August 2021 The application under Section 10(23C), 12AB, 35(1)(ii)/ (iia)/ (iii) and 80G of the Act in Form No. 10A for registration/ provisional registration/ intimation/ Approval/ provisional approval of Trusts/ Institutions/ Research Associations etc. 31 st August 2021  extended via  Circular No. 15/ 2021 dt. 3rd August 2021 31 st March 2022 The application under Section 10(23C), 12AB, 35(1)(ii)/ (iia)/ (iii) and 80G of the Act in...
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No mandatory requirement of minimum public shareholding in case of Listed PSUs

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The Ministry of Finance via  Notification dated 30th July 2021 has published the Securities Contracts (Regulation) (Second Amendment) Rules, 2021 to further amend the Securities Contracts (Regulation) Rules, 1957. The Amendment is brought under Rule 19A which provides for maintenance of minimum public shareholding and its attainment within a specified period. These provisions can be summed up as under: Every listed company (other than public sector Company) shall maintain public shareholding of at least twenty five percent. Any listed company which has public shareholding below twenty five per cent, shall increase its public shareholding to at least twenty five per cent, within a period of three years from the date of such commencement, in the manner specified by the Securities and Exchange Board of India. A company whose securities have been listed pursuant to an offer and allotment made to public, shall maintain minimum twenty five per cent of public shareholding. Where the publ...
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RBI issues guidelines on opening of current account by banks

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The Reserve Bank of India vide its  Notification dated 4th August 2021 has issued guidelines for implementation of its earlier circular on opening of current accounts by banks. As per the new guidelines, RBI has given banks time until 31st October 2021 to implement the new rules on current accounts issued in 2020 . The regulator had previously set a deadline of 31 July. Banks shall put in place a monitoring mechanism, both at head office and regional/zonal office levels to monitor non-disruptive implementation of the circular and to ensure that customers are not put to undue inconvenience during the implementation process. The RBI has reiterated that, in case of borrowers who have not availed of CC/OD facility from any bank , there is no restriction on opening of current accounts by any bank if exposure of the banking system to such borrowers is less than ₹ 5 crore and In case of borrowers who have not availed of CC/OD facility from any bank and the exposure of the banking system ...
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