GSTR - 9C DECODED IN KRISHNA UPDESH TO ARJUN IN MAHABHARAT GEETA MODE
Posted Date : 21-Jun-2019 , 01:00:47 pm | Posted By
CS Piyush Jain
Arjuna (Fictional Character): Krishna, When is GST Audit applicable?
Krishna(Fictional Character): Arjuna, GST Audit for FY 2017-18 is applicable to every registered person whose aggregate turnover during a financial year exceeds Rs. 2 Crores. The copy of audited annual accounts and a reconciliatio...
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Category : GST |
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GST AUDIT CHECKLIST
Posted Date : 12-Jun-2019 , 11:49:32 am | Posted By
Rubneet Anand
GST AUDIT CHECKLIST To help in conducting GST audit and in order to facilitate a clause by clause analysis of Form GSTR-9C by members and other stakeholder, GST & Indirect Taxes Committee of ICAI has brought out the Technical Guide on GST Audit. Since GST Audit is the last activity to be done b...
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Category : GST |
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New Regime of Taxation of Long Term Capital Gains on sale of equity share, unit of equity oriented funds and unit of the business trust u/s 112A of the Income Tax Act, 1961
Posted Date : 12-Jun-2019 , 10:46:03 am | Posted By
Megha
The Finance Act, 2018 has withdrawn the exemption under section 10(38) of the Income-tax Act, 1961 and has introduced a new section 112A in order to levy long term capital gain tax on the transfer of a long term capital asset being an equity share in a company or a unit of an equity oriented funds o...
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Category : Income Tax |
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Supreme Court Judgment, under section 130 of companies Act-Reopening of books
Posted Date : 10-Jun-2019 , 11:17:30 am | Posted By
Rinki
Civil Appeal No.3747 of 2019 titled Hari Sankaran vs. Union of India & Others filed by Ex-Director of Infrastructure Leasing & Financial Services Limited before the Apex Court has been dismissed by the Hon’ble Court.
...
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Category : Corporate Law |
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Changes in Prosecution guidelines vis a vis smuggling of gold and foreign currency by Foreign Nationals under Customs Act, 1962
Posted Date : 07-Jun-2019 , 05:06:24 pm | Posted By
Rinki
Central Board of Indirect Tax & Customs has made certain changes with regard to Prosecution of Foreign Nationals for the offences covered under the Customs Act, 1962 involving Foreign Currency vide Circular No.12/2019-Customs dated 24th May, 2019. The aforesaid changes is attributed to inc...
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Category : Custom |
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Clarifications on filing of Annual Return-Form GSTR-9
Posted Date : 07-Jun-2019 , 05:04:45 pm | Posted By
Rinki
Sr. No.
Issue addressed
Details
1
Auto-Population of Form GSTR-9 from GSTR-2A
Terminology:- GSTR-2A:_Details of auto drafted supplies GSTR-9: Annual Return Clarification:- Information contained in GSTR-2A(table 3 & 5) as on 01.05.2019 shall be auto-populated in Table 8A of ...
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Category : GST |
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Queries on GSTR 9 Annual Return of GST
Posted Date : 07-Jun-2019 , 10:30:46 am | Posted By
Sagar
Solution to GSTR 9 Queries (GST Annual Return)
v Annual Return Form?
Form GSTR 9
v Filing by whom?
Every Registered Person
v Turnover Criteria for GSTR 9?
To be filed irrespective of Turnover in FY 2017-18
v Form to be filed PAN or GSTN ...
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Category : GST |
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SEARCH AND INSPECTION UNDER GST
Posted Date : 08-May-2019 , 06:13:09 pm | Posted By
CA. PIYUSH KAPOOR
Meaning under GST ACT ‘Search’ involves an attempt to find something. Search, in tax/legal parlance, is an action of a government official (a tax officer or a police officer, depending on the case) to go and look through or examine carefully a place, person, object etc. in order t...
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Category : GST |
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Goods Transport Agency in GST
Posted Date : 08-May-2019 , 06:01:01 pm | Posted By
Anuj Khaitan
GOODS TRANSPORT AGENCY IN GST A) Definition As per Notification-12/2017, Clause no-ze, Dt-28.06.17 (Central Tax Rate) a GTA is any person who provides service in relation to transportation of goods by road and issues a consignment note by whatever name called. Thus, it can be seen that issuance of...
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Category : GST |
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INC - 22A All about Active Company Tagging Identities and its Verifications
Posted Date : 19-Apr-2019 , 02:01:53 pm | Posted By
CS Piyush Jain
Introduction: - The Ministry of Corporate Affairs through notification dated 21st February 2019 has introduced the Companies (Incorporation) Amendment Rules, 2019. Under the new rules, all companies registered on or before 31st December 2017 are required to file form ACTIVE (Active ...
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Category : Corporate Law |
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UDIN for Bank Branch Audits
Posted Date : 31-Mar-2019 , 11:18:50 am | Posted By
May I Help You.
1. Whether UDIN is mandatory for Statutory Bank Audit?
For Statutory Bank Audit, UDIN is not mandatory. However, for all Certificates to be signed while conducting Bank Audit, generation of UDIN is mandatory as UDIN is already mandatory on all Certification w.e.f 1st Feb 2019.
2. W...
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Category : Bank Branch Audit |
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Accounting of Service concession agreements under Ind AS
Posted Date : 26-Mar-2019 , 02:29:54 pm | Posted By
Swati Gupta
Infrastructure for public servicesâ€â€such as roads, bridges, hospitals, airports, water distribution facilities, energy supply etc.â€â€constructed, operated and maintained by the public sector and financed throu...
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Category : IFRS |
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Important Points for Bank Audit 2019
Posted Date : 24-Mar-2019 , 06:30:59 pm | Posted By
Mahesh Bansal
Many of you may have been allotted bank branch audits. I congratulate them heartily. Today, I am sharing with you few things to keep in mind while going for bank branch audit this time. It will be very much relevant for the members performing statutory audits: 1. In view of RBI circulars date...
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Category : Auditing |
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GST Impact on Transfer of Business conversion of Pvt Ltd to LLP
Posted Date : 23-Mar-2019 , 06:07:43 pm | Posted By
Vijaykumar
GST Impact Transfer of Business conversion of Pvt Ltd to LLP Company Act, 2013 or LLP Act, 2008 allows companies or LLP or Partnership Firms to change their constitution or convert them i.e. from Private limited to LLP or any other combination. In such a situation, it’s very impo...
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Category : GST |
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PRUDENTIAL NORMS FOR AGRICULTURE ADVANCES
Posted Date : 16-Mar-2019 , 03:18:37 pm | Posted By
CA. PIYUSH KAPOOR
Before understanding the Norms for Agriculture Advance first should know about the Which type of Loans cover under Agriculture Advances:
Types of Agricultural Loans in India One can avail a loan for the following activities related to agriculture:
Running day to day operations
Bu...
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Category : Banking |
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Compliance Calendar - March 2019
Posted Date : 01-Mar-2019 , 06:13:51 pm | Posted By
Lalit Rajput
CORPORATE Compliance CALENDAR For the m/o March, 2019 ----------------------------------------------------------------------------------------------------------------
About Article : This article ...
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Category : Corporate Law |
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“KYC of Companies†through E-Form INC-22A (ACTIVE)
Posted Date : 25-Feb-2019 , 10:53:31 am | Posted By
Vivarth Dosar
Article on “KYC of Companies” introduced on 21st February, 2019
The Ministry of Corporate Affairs (MCA) has introduced Companies (Incorporation) Amendment Rules, 2019 vide its Notifi...
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Category : Corporate Law |
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Companies (Adjudication of Penalties) Amendment Rules, 2019
Posted Date : 21-Feb-2019 , 08:37:51 pm | Posted By
Lalit Rajput
Companies (Adjudication of Penalties) Amendment Rules, 2019:
An Analysis of Rule 3
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Ministry of Corporate Affairs (MCA), Government of India (GOI) wide notification dated 19th February, 20...
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Category : Corporate Law |
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FEMA / RBI Compliance Checklist
Posted Date : 18-Feb-2019 , 12:05:19 pm | Posted By
Lalit Rajput
FEMA / RBI Compliance Checklist
FEMA (Foreign Exchange Management Act, 1999) has acted as a catalyst for the growth and development of various sectors in India. The main aim of FEMA is to facilitate external trade, balance the payments, promote the orderly development, and maintain the foreign ex...
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Category : FEMA |
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LLP Compliance Calendar
Posted Date : 15-Feb-2019 , 04:40:38 pm | Posted By
Lalit Rajput
LLP Compliance Calendar
This article covers the Mandatory Compliances to be followed by a LLP under Registrar of Companies, Ministry of Corporate Affairs, mentioned under LLP Act, 2008 and Income Tax Act, 1961 including Tax audit provisions. Some key points are also given regarding LLP
&nb...
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Category : Income Tax |
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Summary & Highlights of Interim Budget 2019-20
Posted Date : 01-Feb-2019 , 04:35:49 pm | Posted By
Lalit Rajput
BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20
Major Highlighted Points: 1. Interim Budget 2019-20 Presented In Parliament Today Has A Major Scheme For Farmers And Provides For Income Tax Sops. 2. This Interim Budget Is To Be Viewed As A Medium For A Progressive Path Fo...
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Category : Budget |
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Corporate Compliance Calendar - February, 2019
Posted Date : 31-Jan-2019 , 09:55:59 pm | Posted By
Lalit Rajput
CORPORATE Compliance CALENDAR For the M/o February, 2019
Compliance under Income Tax act, 1961
Applicable Laws/Acts
Due Dates
Compliance Particulars
Forms (Filing mode)
Income Tax Act, 1961
07.02.2019
Due date for deposi...
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Category : Corporate Law |
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ECB facility for Startups
Posted Date : 21-Jan-2019 , 03:59:11 pm | Posted By
Lalit Rajput
ECB facility for Startups:
Reserve Bank of India (RBI) vide circular no. RBI/2018-2019/109 A.P. (DIR Series) Circular No. 17 dated 16th January, 2019 has issued External Commercial Borrowings (ECB) Policy – New ECB Framework. “Under the said policy, AD Category-I banks are permit...
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Category : FEMA |
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EMPLOYEES’ PROVIDENT FUNDS (EPF) AND MIS. PROVISIONS ACT, 1952 - An Overview
Posted Date : 19-Jan-2019 , 06:17:09 pm | Posted By
Lalit Rajput
Employees’ Provident Funds (EPF) and Miscellaneous Provisions Act, 1952 - An Overview Background: PF is the retirement saving scheme available to all the salaried employees, is backed by the government on which fixed interest is paid. The employee provident fund is administered by the&nb...
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Category : Corporate Law |
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IBBI is going to start Graduate Insolvency Programme
Posted Date : 17-Jan-2019 , 09:51:14 am | Posted By
CA.Khurana Vivek
The Insolvency and Bankruptcy Board of India will launch the Graduate Insolvency Programme, globally the first-of-its-kind course for bankruptcy professionals, in the coming academic session. The bespoke 27-month degree course will create a pool of 45 bankruptcy professionals annually and the deliv...
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Category : Corporate Law |
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GST COUNCIL 31 ST MEETING IN BRIEF
Posted Date : 06-Jan-2019 , 11:27:24 am | Posted By
CHETAN CHHABRA
GST, Excise, Service Tax, Customs & VAT updates for December 2018 The GST Council (‘Council’) convened its 31st Meeting on December 22, 2018 after a gap of almost 3 months. The council has proposed reduction of tax rates for serval items, legislative amendments and other chan...
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Category : GST |
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Internal Audit Basics
Posted Date : 05-Jan-2019 , 06:44:24 pm | Posted By
Kamal Garg
The Internal audit function is very popular day by day due to its advantages to the organisations. There are so many Guidance Notes, Standards on Internal Audit (SIA) and books published on the subject in detail. The Guidance Note contains the Internal Audit industry wise and are informative. ...
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Category : Auditing |
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SEBI(Securities Exchange Board of India)
Posted Date : 05-Jan-2019 , 04:59:37 pm | Posted By
Lalit Rajput
SEBI (Securities Exchange Board of India), the Compliance Regulatory Authority for Stock/Securities Market has issued Circular No. "SEBI/HO/CFD/CMD/CIR/P/2018/77 dated 03rd May, 2018" On SUBJECT : ACTION TO BE TAKEN AGAINST LISTED COMPANIES IN CASE OF NON-COMPLIANCES. The recognized stock exch...
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Category : SEBI |
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Penaities under SEBI (LORD) Regulations,2015,W.E F. 30.09.2018
Posted Date : 05-Jan-2019 , 04:33:25 pm | Posted By
Lalit Rajput
"List of Penalties under SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015" SEBI (Securities Exchange Board of India), the Compliance Regulatory Authority for Stock/Securities Market has issued Circular No. "SEBI/HO/CFD/CMD/CIR/P/2018/77 dated 03rd May, 2018"&nbs...
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Category : SEBI |
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RBI Guidelines for restructuring of MSME accounts
Posted Date : 02-Jan-2019 , 02:48:04 pm | Posted By
Mahesh Bansal
In continuation of the series of big reliefs granted to MSME borrowers earlier vide notifications dated 7th Feb and 6th June 2018, yesterday RBI has granted a much awaited relief to this category of borrowers by permitting banks to restructure 'standard' loans of this category without downgrading th...
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Category : Banking |
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