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Archive: 30 October 2017

Posts in 30 October 2017

An Overview on Reopening and Revision of Financial Statements or Board’s Report under the Companies Act, 2013

October 30, 2017 11643 Views 3 comments Print

Several instances of falsification of books of accounts were noticed under the Companies Act, 1956. To overcome this menace, several measures have been provided under the Companies Act, 2013.

Re-print of the shipping bills which are allowed LEO at Parking Plaza

October 30, 2017 4635 Views 0 comment Print

It has been represented by the trade in the PTFC meeting that whenever there is need for re-print of any shipping bill due to any reason, exporters / Customs brokers are facing difficulty at parking plaza since the procedure followed at Parking Plaza is different from procedure followed at other places.

Procedure for clearance of Toys under Warehouse Bill of Entry

October 30, 2017 939 Views 0 comment Print

It has been represented by the trade that it will take time for testing of toys from an independent laboratory which is accredited by NABL, India. They requested to allow warehousing of the toys to avoid the detention and demurrage.

Section 43(5) CBDT notifies Indian commodity Exchange limited

October 30, 2017 2214 Views 1 comment Print

Notification No. 91/2017 U/s 43 (5) of IT Act 1961 Central Government notifies Indian commodity Exchange limited (PAN:AABCI9419D) as a ‘recognized association’

Govt notifies additions to document list for Proof of Present Address

October 30, 2017 2166 Views 0 comment Print

Proof of Present Address: For proof of Address attach one of the following documents- Allotment letter of the Government accommodation issued by the Estate Office/Public Works Department of the Central/State Government in respect of their employees.

HC on allowability of deduction U/s. 10A / 10B on Interest Income

October 30, 2017 4119 Views 0 comment Print

CIT Vs. Hewlett Packard Global Soft Ltd (Karnataka High Court) (Full Bench) HC held that assessee was entitled to 100% exemption or deduction under Section 10-A of the Act in respect of the interest income earned by it on the deposits made by it with the Banks in the ordinary course of its business and […]

MGST: Extension of due date for july-2017 for GSTR-2 / GSTR-3 submission

October 30, 2017 1284 Views 0 comment Print

Notification No. 54/2017-State Tax Extension of due date for the month of july-2017 for submission of GSTR-2 and GSTR-3 upto 31.10.2017 and 30.11.2017, respectively

Impact of GST on Cab arrangements in a Hotel/Restaurant

October 30, 2017 27390 Views 5 comments Print

In this article I would like to discuss the different options available for a Hotel to provide cab facilities to their guests and respective implications under Goods and Services Tax law.

GST Form TRAN 1- Deadline, Documents required and benefits

October 30, 2017 11661 Views 2 comments Print

Any business registered before GST & having closing stock, will be entitled to claim credit of tax paid under pre-GST regime. To help businesses transition smoothly and carry forward their input tax credit, the CBEC has released transition forms called TRAN 1

Cancellation of Registration of migrated taxpayer starts

October 30, 2017 3939 Views 1 comment Print

Window open for cancellation of registration of migrated taxpayer and extension of date till December 31, 2017 Rule 24(4) of the CGST Rules, 2017, provides for cancellation of registration for those taxpayers who were not required to obtain registration as per GST Law provisions, but were migrated to GST as they were registered under the […]

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