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Archive: 16 September 2018

Posts in 16 September 2018

Use of SUMIF function in excel

September 16, 2018 15222 Views 0 comment Print

Writing an article to appraise readers, how they can use SUMIF in analyzing the financial data. Use of SUMIF in excel: ♠ SUMIF is used to sum up the values of a given range as per the specified criteria. ♠ For example: You are working on GST liability computation and analyzing your ITC register to […]

Analysis of Modification of procedure for interception of conveyances

September 16, 2018 1203 Views 2 comments Print

The CBIC has issued the Circular No. 64/2018 stating the Modification of the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances. In these article we will see the detailed analysis of the Circular. 1. Section 68 of the CGST Act read with […]

No Government Approval Needed for Remuneration of Top Executives

September 16, 2018 5091 Views 0 comment Print

Ministry of Corporate Affairs vide notification dated September 12, 2018 has effected certain amendments in Section 197 of Companies Act, 2013 relating to Managerial Remuneration payable top executives.

TDS Provision under GST

September 16, 2018 25680 Views 4 comments Print

There are certain category of persons for whom registration under GST act is mandatory irrespective of their turnover limits as specified in Section 22 (i.e. Rs. 10 lakhs for special category states and Rs. 20 lakhs for others). These categories have to get register themselves on mandatory basis under GST act by virtue of Section […]

GST Annual Return- A Surgical Strike by Government

September 16, 2018 10755 Views 5 comments Print

If you think GST is a ‘Good and Simple Tax’, you are mistaken. GST is all about technical glitches, daily amendments, and confusions. More the Government tries to put to rest the confusions, the poorer its implementation becomes.

Dematerialisation of shares of unlisted companies

September 16, 2018 132540 Views 23 comments Print

Rule: Companies (Prospectus and allotment of securities) Third Amendment Rules, 2018. “Rule 9A Issue of Security in Dematerialised form by Unlisted Public Company:- Every Unlisted Public Company shall issue the security only in dematerialised form and facilitate demateriation of all its existing securities in accordance with provisions of the Depositories Act, 1996 and regulations made there under.

Foreign Direct Investment In Limited Liability Partnerships

September 16, 2018 10863 Views 1 comment Print

LLP exhibits element of both partnerships and companies. As the name suggests, partners of the LLP have limited liability which means that personal assets of the partners are not used for paying off the debts of the LLP.

ICAI invites suggestions on FORM GSTR-9C Reconciliation Statement & Certificate

September 16, 2018 1734 Views 2 comments Print

Government vide Notification No. 49/2018 – Central Tax dated 13th Sept, 2018 has notified Part A- FORM GSTR-9C – Reconciliation Statement, Part B-Certificate to be certified by the Chartered Accountants.

GST ITC-04: Details of goods/capital goods sent to job worker & received back

September 16, 2018 81240 Views 11 comments Print

Understanding Newly Substituted GST ITC-04 – Details of goods/capital goods sent to job worker and received back Defining ‘job work’ in simple terms can be undertaking any process on the inputs / semi-finished goods supplied by the principal manufacturer. However, the statutory definition of ‘job work’ is contained in section 2 (68) of the Central […]

Writ in Madras HC against constitution of GST Authority for Advance Rulings

September 16, 2018 1593 Views 0 comment Print

Revenue Bar Association has filed and Writ Petition in Madras High Court under Article 226 of the Constitution of India seeking a writ of declaration to declare: a) Chapter XVII of the Central Goods and Services Tax Act, 2017, more particularly, sections 96 and 99 of the Central Goods and Services Tax Act, 2017 relating […]

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September 2018