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Archive: April, 2018

Posts in April, 2018

Compliance with IBBI (Insolvency Professionals) (Amendment) Regulations, 2018

April 5, 2018 1146 Views 0 comment Print

In terms of the sub-regulation (2) of regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, the recognition granted to an IPE is subject to the condition that the IPE shall at all times continue to satisfy the requirements under regulation 12.

Immediate Compliances Under GST for Financial Year 2018-19

April 5, 2018 51576 Views 13 comments Print

To be able to claim input tax credit of an invoice, its payment must be made within 180 days as per second proviso of section 16(2) of CGST Act, 2017. If the payment is not made, the credit taken on that invoice must be reversed. And whenever such payment is made credit may be taken then.

NCLT approval in case of conversion – Why & When….??

April 5, 2018 7824 Views 0 comment Print

We all know that The Companies Act, 2013 provides for conversion from one type of a company to another. A Private Company can convert itself into a Public Company merely by altering MOA and AOA but a Public Company can convert itself into a Private Company only after the approval of National Company Law Tribunal […]

TDS under GST Act

April 5, 2018 24336 Views 7 comments Print

This article includes all the latest notification/news and i have analysis this topic deeply so that everyone can understand TDS on GST in very easy language.

Proposed Form in respect of Audit required under GST Laws

April 5, 2018 67059 Views 2 comments Print

Format of Proposed Audit Form (Form GST 9C and FORM GSTR –9D) in respect of Annual Audit required under GST Laws is in circulation on Social Media from 4th April 2018. The PDF File in Circulation Contains Form GST 9C which is a Audit Report and GST FORM GSTR –9D in which all details related […]

Ind AS 103 Business Combinations- FAQs

April 5, 2018 5787 Views 0 comment Print

Ind AS Implementation Group has come out with Educational Material on Ind AS 103, Business Combinations which by way of Frequently Asked Questions (FAQs) explains the principles enunciated in the Standard. This publication will provide significant guidance to the stakeholders in how to account for the Business Combinations and its disclosures.

First Bi-monthly Monetary Policy Statement, 2018-19- No Change in Repo Rate

April 5, 2018 1014 Views 0 comment Print

Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.

Strict action against if Movement of goods without generating e-way bill

April 4, 2018 28905 Views 2 comments Print

It may be brought to the attention of all concerned that those unauthorisedly causing movement of goods, without generating e-way bill, wherever due, will be liable for strict action from the Department. Hence, I take this opportunity to remind everyone to adhere to the e-way bill rules and generate e-way bill wherever due, while causing inter-State movement of goods.

Capital gain assessable in the hands of legal heirs who inherited the land and shared sale consideration

April 4, 2018 9909 Views 0 comment Print

Capital gain to be assessed in the hands of all the legal heirs who have inherited the land and also shared the sale consideration. Cost of acquisition has to be determined by considering relevant provisions of the Act as well as the fair market value of the land as on 01.04.1981.

Input service credit not allowable on Insurance of family members of the employees

April 4, 2018 1014 Views 0 comment Print

The input service credit on insurance is denied on the ground that these insurance has been taken for the family members of the employees which is in nature of perquisites. I do agree with the finding of the lower appellate authority as the insurance of family members of the employees has no concern with the business of manufacturing of the appellant.

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