"30 January 2018" Archive

ICAI extends Last date for payment of Membership and COP fee

Last date for payment of Membership fee and Certificate of Practice fee for the year 2017-18 be extended upto 15th March, 2018 (instead of 30th September, 2017)....

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Posted Under: CA, CS, CMA |

Leave Travel Concession -Replace Calendar year by Financial year- ICAI

As per the provisions of section 10(5) of the Income-tax Act, 1961, an exemption of the value of leave Travel Concession/ Assistance received by the employee from his employer is provided subject to fulfillment of prescribed conditions....

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Posted Under: CA, CS, CMA |

Section 234E- Penalty should not be levied on casual basis and needs to be rationalized: ICAI

Section 234E provides for levy of fees of Rs 200 per day where there is delay in filing of quarterly TDS returns....

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Posted Under: CA, CS, CMA |

FAQ’s on Condonation of Delay Scheme, 2018

In this Flash editorial, the author begins by referring the Quick Questions on Condonation of Delay Scheme 2018 in relation to Active Companies or Struck off Companies Both. Condonation of Delay Scheme, 2018 is an Opportunity Scheme for the Disqualified Director to remove their disqualification, which occur due to non filing of Financial ...

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Posted Under: CA, CS, CMA |

Blocked Credits under GST

ITC of tax paid on almost every inputs and input services used for taxable supply of taxable goods or services or both is allowed under GST except a small list of items provided u/s. 17(5) of CGST Act....

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Posted Under: CA, CS, CMA |

Analysis of E-Way Bill under GST

E-way bill is applicable where any movement of goods value exceeding Rs 50000/- is: - In relation to Supply, whether of taxable or non taxable goods, For reason other than Supply (Ex: -Branch Transfer within State, Job Work, Consignment, etc) and for Inward Supply from URD...

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Posted Under: CA, CS, CMA |

Analysis of Condonation Of Delay Scheme – 2018

The Companies Act, 2013 aiming to promote Corporate governance has armed the regulator with enormous powers. Exercising these, recently two major steps have been taken by the Registrar of Companies (RoC) in this respect (i) Disqualified directors of the Company that had not filed annual return for continues 3 years, and (ii) the names of...

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Posted Under: CA, CS, CMA |

Goods not liable for confiscation for non compliance of GST rules in absence of taxable supply

The Assistant State Tax Officer Vs M/s. Indus Towers Limited (Kerala High Court)

In one of the recent judgment of Kerala High Court in M/S Indus Towers Limited Vs. The Assistant State Tax Officer, it was held that goods cannot be confiscated for every non- compliance of the provisions of the act....

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Goods not liable to tax cannot be detained for infraction of Rule 138(2) of State SGST Rules

Age Industries (P.) Ltd. Vs. Assistant State tax Officer (Kerala High Court)

The power of detention contemplated under Section 129 of the SGST Act can be exercised only in respect of goods which are liable to be confiscated under Section 130 of the SGST Act; that there is no taxable supply when goods are transported on delivery chalans ...

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Corporate Governance enhances companies image, acceptability & profitability

Corporate Governance is in the interests of companies as it enhances their image, acceptability and profitability, says Ministry of Corporate Affairs’ Secretary Injeti Srinivas...

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Posted Under: CA, CS, CMA |
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