"11 September 2018" Archive - Page 3

Gist of Recent GST Notifications dated 4th & 10th September 2018

A. Gist of Notifications dated September 4th, 2018 issued under Central Goods & Services Tax Act, 2017- CBIC issued Notification No. Notification No. 39/2018 – Central Tax to Notification No. 42/2018 – Central Tax and notified Annual GST Return 9 for all eligible Taxpayers and 9A for Composition Dealers. In addition to that it ext...

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Measures to ensure compliance to GST by taxpayers/contractors/suppliers

Office Memorandum 38/5/2018-Fin (R & C)/1493 11/09/2018

The Concerned Authorities shall obtain a copy of Application Reference Number(ARN) generated on GST common Portal www.qst.qov.in by the Taxpayer after filing his latest return which was due as per GST Law...

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Due Date of TRAN-1 is Not Extended but Power of Commissioner is extended

Government has issued Notification No. 48/2018 Central Tax Dated 10-09-2019 which empowers the Commissioner to Extend the due date of Filing of TRAN-1 in case of Technical Glitches. However, this Notification does not extend the due date but only gives the powers to the Commissioner to extend the due date....

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Dematerialisation of Securities by Unlisted Public Companies

In a major step to keep track of transactions of Corporates and making the things easier and transparent for the Shareholders, the Ministry of Corporate Affairs (MCA) has notified the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 by inserting Rule 9 (A) on 10th September, 2018 making the Dematerialisation ...

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ICAI Upcoming Elections – a dilemma for a POOR VOTER

Election, election and election…Now a day’s every candidate is trying to lure his/her candidature in such a fashion that he/ she would be the reservoir of all talent/ expertise to take our profession into the next level. Every now and then it seems like we as a professional needs someone who can really understand us […]...

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Playing Game Tactically: Race For Essar Steel (Analysis of Essar Steel Case)

In this case it is for the first time that the principles of Section 29A and circumstances of its applicability has been adjudged by the National Company Law Appellate Tribunal (hereinafter “NCLAT”). This judgment is not about maximization of value of entity at the time of bidding but focuses and restricts itself on the qualification ...

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CGST Thane arrests Chartered Accountant & Two Traders for GST Evasion

The Anti Evasion wing of CGST Thane Commissionerate, Mumbai arrested three persons on 05.09.2018 for issuing bogus invoices worth hundreds of crores to avail fraudulent input tax credit (ITC) amounting to Rs. 60 Crore (Approx)....

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MCA to award Companies for their CSR intervention

With the enforcement of Companies Act, 2013, Corporate Social Responsibility (CSR) provision under Section 135 has become applicable for companies meeting certain thresholds defined in the Act. The mandate for CSR spend, requiring such companies to spend two percent of their net profit on approved CSR activities, has now become a part of ...

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Vacancies with Bank of Maharashtra for 50 CAs / CMAs

Bank of Maharashtra have vacancies for 50 Chartered Accountants / Cost & Management Accountants.  Candidate should be of Minimum 20 Years of age and Maximum of 30 years.  As post qualification experience is not stipulated, fresh candidates also can apply. Full details are as follows :- BANK OF MAHARASHTRA (A GOVERNMENT OF INDIA UNDE...

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Application for Withdrawal of Summary GST Assessment Order & FAQs

A. FAQs on Filing Application for Withdrawal of Summary Assessment Order and Tracking the Status of the Subsequent Proceedings u/s 64 1. What is Summary Assessment u/s 64? Summary Assessment u/s 64 is framed by an Adjudicating or Assessing Authority (A/A) to assess the tax due from the person in charge of the goods if […]...

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