For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.
For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.
Fast-growing Mumbai boutique White and Brief has hired Vineet Nagla as a partner and Prateek Bansal as an associate partner from Economic Laws Practice.
Nagla, who will head the tax practice at White and Brief, focuses on GST, state levies, customs and SEZ matters, as well as regulations under the Foreign Trade Policy.
White and Brief was founded in 2018 by Nilesh Tribhuvann as a dispute-focused firm. The firm is now looking to go full-service, as evidenced by the recent hires of Manu Varghese as head of its general and corporate practice from Cyril Amarchand Mangaldas, and capital markets expert Prashaant Vikram Rajput.
Prateek Bansal, who is now associate partner in the tax practice at White & Brief.
Nagla specialises in GST, customs, SEZ and foreign trade work, while Bansal specialises in service tax and GST litigation.
We have reached out to ELP for comment.
Founding and managing partner Nilesh Tribhuvann commented in a statement: “With Vineet and Prateek coming in, we have moved closer to our aim of transitioning into a full-service firm. We are now equipped to provide the gamut of services to our clients across the board.
“There is now a clear alignment of vision amongst the firm’s senior level members and, I see a lot of synergistic opportunities between the practice areas that we have recently added. I am glad that our expansion plans are materialising the way we have envisioned them – and there is more on the horizon in the coming year.”