Note on Simplified Returns and Return formats has been published on 30th July 2018. This write up is an attempt comprehend the underlying concepts of new regime of GST returns.
When there is amalgamation, the accumulated losses and unabsorbed depreciation of the amalgamating company shall be deemed to be loss or, as the case may be, allowance for the unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected.
Every one know that GST registration is required the moment you cross threshold limit of Rs. 20 lacs and Rs. 10 lacs in NE States. But the most important is the GST registration is mandatory from the day one without any threshold limit.
As the Ministry of Corporate Affairs has started overhauling and cleaning its records and registry, it has initiated the process of Annual KYC of all the Directors (e-form DIR-3KYC) and giving a snag to the irregularities occurred due to outdated filing and unsystematic procedures. In the Editorial, Author has made an effort to throw light […]
Director’s Report pursuant to section 134 of the Companies Act, 2013 along with Rule 8 of Companies (Accounts) Rules, 2014 1. The Board’s Report shall be prepared based on the stand alone financial statements of the company and shall report on the highlights of performance of subsidiaries, associates and joint venture companies and their contribution […]
Why GST Notification No.1/2018-Central Tax (Rate) Dt.18.01.2018 Denies ITC on Out Put Services Falling Under Sac 9987(Ii) to harm Repairs & Maintenance Service Industry?
As per new provisions, Every Director is required to file E-form DIR-3 KYC on or before 31st August 2018. Details regarding the same are as follows:- Introduction:- The Ministry of Corporate Affairs as part of updating its registry, is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC. […]
Govt notifies Fugitive Economic Offenders Act, 2018. It shall be deemed to have come into force on the 21st day of April, 2018. The provisions of this Act shall apply to any individual who is, or becomes, a fugitive economic offender on or after the date of coming into force of this Act.
Key features along with new formats of GST returns proposed by GST Council. Proposals relate to upload – lock -pay concept, amendment of returns / invoices, missing invoices etc. Following are the salient features of the new GST return processes and formats, proposed by GST Council: All taxpayers will be required to file monthly returns, […]
The newsworthy 28th GST committee meeting that was hung on 21st July 2018 and headed by the Union Minister of Finance Sh. Piyush Goyal has to be sure ended up being to be an innovator as it has uncovered a few momentous monetary and fiscal change measures that are indubitably in light of a legitimate concern for the little dealers and the customers.
