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Goods and Services Tax (Compensation to States) Act, 2017 was enacted to levy Compensation cess for providing compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax with effect from the date from which the provisions of the Central Goods and Services Tax (CGST).

Every person who is liable to pay tax in accordance with the provisions and fails to pay such tax shall pay interest on default amount. Further, a taxable person who makes an undue or excess claim of input tax credit shall pay interest on such undue or excess claims.

Amid this COVID pandemic and lockdown situation, many requests were received by the MINISTRY OF CORPORATE AFFAIRS. Given the difficulties faced by its stakeholders, the MCA provided certain temporary relaxations to decrease the burden of mandatory compliances by the companies and LLPs in this hour of crisis. In this article, we have discussed these relaxations and other updates to help you understand them better and stay updated with the recent reliefs provided. Visit us : https://www.manishanilgupta.com/

Niveza #Review on Market Updates :: Indian markets found better recovery after Britain exit correction. Over the market, stocks individually have performed well. Sentiments are purely on the positive side ahead of the GST bill optimism. Brexit correction have given better buying opportunity for the investors and again some correction could be possible.