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Archive: 09 May 2018

Posts in 09 May 2018

Quick Insight 2018- Latest changes in Tax, Accounting, AS, LLP, Companies Act

May 9, 2018 3819 Views 0 comment Print

Quick Insight- 2017 for the CA fraternity, highlighting latest developments in the profession. The Quick Insight contains important information on tax, accounting & auditing standards, limited liability partnership, Companies Act, statements and standards and standards on audit as well as important information for Members.

The Impeachment Fiasco – Another Example of Congress Adopting a Fringe Position

May 9, 2018 780 Views 1 comment Print

The Congress Party’s impeachment motion against the Chief Justice of India was wholly misconceived. It is poorly drafted and lacked in substance. Many of its traditional allies were not willing to take on this confrontation with the judicial institutions.

Deduction and Allowances Available under Income Tax Act 1961 for expenses

May 9, 2018 23241 Views 0 comment Print

Section wise brief about the deduction and allowances available under Income Tax Act 1961 against expenses incurred by Assesses

BCAS Representation on Procedure of filing GST Returns

May 9, 2018 12507 Views 5 comments Print

The present system of filing of GST Returns as contained in section 37, 38 and 39 of the CGST Act requires filing of monthly returns in three stages by three different dates of the Month. To be specific, Form GSTR-1 is required be filed by 10th of the next month, Form GSTR-2 is required to be filed by 15th of the next month and Form GSTR-3 is required to be filed by 20th of the next month. S

Notice For Discrepancies In GST RETURN – What to Do??

May 9, 2018 114813 Views 9 comments Print

1. Many would have started getting notices in the FORM GST ASMT-10 seeking explanation for the discrepancies observed by the concerned officer on making scrutiny of returns. Normally department is seeking explanation with respect to discrepancies between the amounts shown in GSTR – 3B and the amounts shown in GSTR – 1. What should be […]

Companies Post CODS 2018 Era

May 9, 2018 2892 Views 2 comments Print

The opportunity given to disqualified Directors under Condonation of Delay Scheme, 2018 (CODS 2018) continued for 4 months, The Director Identification Numbers (DIN) of such disqualified directors were activated so that they can do the necessary filing under the Scheme. Now after 1st May the CODS 2018 is not in operation that means the opportunity […]

SUGAR CESS under GST Regime

May 9, 2018 12030 Views 2 comments Print

Sugar Cess is tax which is likely be levied by CBIC under the guidance of finance ministry chaired by Sh. Arun Jaitely under GST. One should also note that, it is against the principals of GST law.

Highlights of Changes in Section 2 (Definition) of Companies (Amendment) Act 2017

May 9, 2018 7845 Views 2 comments Print

Highlights of Changes in Section 2 of Companies Act, 2013  related to Definition vide Companies (Amendment) Act 2017. Article discusses definition of Associate Company, Cost Accountant, Debenture, Financial Year, Holding Company, Interested Director, Key Managerial Personnel, Net Worth, Public Company, Public Financial Institution, Related Party, Small Company, Subsidiary Company and Turnover. Sl. No. Section Highlights […]

Change in late filing of Annual Return and Annual Accounts

May 9, 2018 5913 Views 0 comment Print

Every Company is required to file Annual Return under section 92 of the Companies Act, 2013 within 60 days from the date of Annual General Meeting.  AGM needs to be held within 6 months from the closure of Financial Year.  Hence the last date by which the Annual Return needs to be filed is 60 […]

How to GST Cancel Registration on GSTN Portal- Provisions & Flowchart

May 9, 2018 6441 Views 2 comments Print

Cancellation of registration [Section 29 read with Rule 20-22]- Any Registration granted under the CGST Act may be cancelled by the proper officer either on his own motion or on an application filed by the registered person or by his legal heirs, in case of death of such person.

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