GST Update (Just for knowledge purpose)
In our GST classes, we had studied about amendment in Sec 50 that provided for Interest to be computed on Net tax liability (after adjusting ITC) in cases where return has been filed after fue date and tax liability has been disclosed therein.

There was a controversy with regard to whether such amendment will have restrospective effect from 1st July 2017 or only prospective effect. I had told that GST Council has decided about restrospective amendment and very soon amendment wl b brought...Finally it has been provided under law that Sec 50 amendment is restrospective w.e.f 1st July 2017

So basically now refunds will gave to be given to those who had already paid interest on Gross tax liability

Emailing 64870bos52142.pdf

Now Imp Update regarding CA Inter Nov 21 exams

ICAI has released Supplement Paper on GST amendments upto 30th April 2021 applicable for Nov 21 exams. I am glad to tell you that almost all these amendments were already covered by us in our GST batch and GST book that took place in Jan-Feb 2021...

Theres only 1 small amendment in Registration Chapter that came in March 2021...Will cover that amendment in a separate video and update on google drive

For Students of previous batches, Separate amendment video for GST Nov 21 will come soon

Photo from Sanchit Grover

Cost Inflation Index for PY 2021-22 Notified

#incometax #incometaxindia #caintertaxation #caintertaxclasses
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Hi all
Admit cards for July 2021 attempt have been released. You can go to ICAIexam website, login to your account and download your admit card

All the best guys

If u have any query or difficulty, u can msg me on Insta at Sanchit.grover.372

Opt out Facility for July 21 exams has been released by ICAI...but this opt out facility is a little different From Opt out that was brought last year...

This time Opt out Facility has been brought only for those who submit Covid Positive report of themselves or their relatives that are positive

Further jo aaj ki date se last exam tak positive honge, only they wl get the benefit of Opt out...Students who had become covid positive before but are negative right now, wont get Opt out option