"July, 2018" Archive - Page 4

Implications of Lapse of Credit on Inputs against outward supplies of Fabric

While the restoration of refund of fabric covered by notification 5/2017 as amended by notification 20/2018 is a welcome step, the move to declare death knell for unutilized credit is completely unwarranted....

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Guiding Principles for determination of POEM

Guiding Principles for determination of Place of Effective Management (POEM) of a Company- The concept of Place of Effective Management (POEM) was introduced for deciding the residency status of a non-Indian company, by Finance Act, 2015 which is applicable from 1st April, 2017....

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Final Notification on POEM

Now CBDT has issued final notification dated 22nd June, 2018 applicable from 1st April 2017 i.r.t. exception, modification & adaption of provisions of section 115JH for those foreign companies which are said to be resident in India on account of its POEM in any previous year but not in any of the preceding previous years. ...

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How to Process With Drafting of Notice of AGM

Annual Filing of the Companies is the next important step marked in the compliance list. Every Company other than one person Company has to convene Annual General meeting (AGM) within a period of six months from the end of financial year and in case of first AGM, the same shall be held within a period […]...

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Provisions and Calculation of Median Remuneration

Article explains How to calculate Median Remuneration under Companies Act, 2013 read with Rule 5(1)(iii) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014....

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4th Industrial Revolution: How to Thrive

We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. Some call it the fourth industrial revolution, or industry 4.0, but whatever you call it, it [...

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Scope of total Income under section 5 of Income Tax Act, 1961

Section -5 of Income Tax Act, 1961 provides Scope of total Income in case of of person who is a resident, in the case of a person not ordinarily resident in India and person who is a non-resident which includes. Income can be Income from any source which (a) is received or is deemed to […]...

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Regulations Governing NRI Investment in India

In today’s time when we tend to move out of India for job opportunities but invest some amounts in our own country we need to know various regulations which govern our investments. The major requirements by RBI on NRI investments in India are discussed in this article...

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Draft Simplified GST Return Formats- Key features

Today CBIC released Draft Format of Monthly and Quarterly Simplified GST returns. This brief note lists the salient features of the new GST return format and business process for the information of trade and industry and other stakeholders....

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CBIC extends due date for filing of FORM GSTR-6

Notification No. 30/2018-Central Tax [G.S.R. 718(E)] (30/07/2018)

CBIC extends time limit for furnishing of return by an Input Service Distributor in FORM GSTR-6 for the months of July, 2017 to August, 2018 till the 30th day of September, 2018 vide Notification No. 30/2018 — Central Tax dated 30th July, 2018....

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