"19 September 2018" Archive

MCA amends Section 135 (CSR) of Companies Act, 2013 wef 19.09.2018

File No. 1/1/2018-CL-I 19/09/2018

MCA notifies Commencement of section 37 of Companies (Amendment) Act, 2017- Corresponding section of the Companies Act, 2013 for which is section 135 related to Corporate Social Responsibility. ...

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Cost Accountants can issue certificates for Mismatch in GSTR-1 & GSTR-3B

Circular No. 33/2018-Customs 19/09/2018

It may be recalled that vide Circular 12/2018-Customs dated 29-05-2018, Board had provided interim solution to the problem faced by the exporters whose records were not transmitted from GSTN to Customs due to mismatch in GSTR 1 and CSTR 3B. The interim solution was subject to undertakings/submission of CA certificates by the exporters as...

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Interest Rates of Small Savings Schemes hiked by 0.30 to 0.40 percent

F.No.01/04/2016-NS 19/09/2018

Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19 On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, ...

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TDS (Tax Deduction at Source) u/s 51 of CGST Act 2017 for Govt Enterprises

Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that, A department or establishment of Central Govt or State Govt, or local authority or Govt Agencies or other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% + SGST 1%) ...

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Posted Under: Company Law |

Due dates & purpose of IEPF E-Forms w.r.t. dividend & shares

Clarities on due dates and purpose of various E-Forms under IEPF provisions w.r.t. dividend & shares as per Section 124 & 125 Companies Act, 2013 read with IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 as amended...

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Posted Under: Company Law |

GSTR-9C form for taxpayer above Rs 2 crore turnover

The Government has notified the GSTR-9C form for annual GST audit under which every taxpayer above Rs 2 crore turnover in a financial year would need to fill up a reconciliation statement and also obtain a certification of audit. The Government through the notification No. 49/ 2018 - Central tax has notified the format for GSTR-9C....

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Posted Under: Company Law |

Directions for forwarding pending survey /verification report- Reg.

F.No. 225/282/2018/ITA.II 19/09/2018

Vide Instruction No. 4/2018 dated 20.08.2018 issued in file of even no., CBDT has laid down Guidelines for selection of scrutiny cases during the financial-year 2018-19....

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Here’s what to do in a volatile stock market

If you have a strong and specific “why”, you will have a clear “how”. If you have a stronger financial goal which is not vague but well defined, you will be clear on how to respond to the market volatility....

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Posted Under: Company Law |

Private Company Registration, Benefits and Compliances

Today, Private Companies are widely preferred by startups and young generation entrepreneurs over other forms of business. In these article, we list out features, benefits, registration process and post-registration compliance requirement to run private companies smoothly....

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Posted Under: Company Law |

Adjusted Rental advance given for Business for Lock in period is allowable

Apollo Munich Health Insurance Company Ltd. Vs DCIT (ITAT Hyderabad)

Apollo Munich Health Insurance Company Ltd. Vs DCIT (ITAT Hyderabad) Rental advance, when it becomes unrecoverable, it becomes the business loss and not capital loss. But in the given case, it is not unrecoverable but it was adjusted towards agreed rent for lock in period as per agreement between the assessee and landlord. Therefore, in [...

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