"October, 2018" Archive

Everything you wanted to know about an index fund

Article explains What is an Index Fund, Features of an Index Funds, What is a tracking error and why it is there in the index fund, who should invest in Index Funds and What type of index funds one should invest....

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Posted Under: Finance |

Key 15 Action Points for filing GSTR -3B for September 2018

We are summarising herewith key areas that needs due attention before filing of monthly return in Form GSTR-3B for the September month:...

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Activities out of the Scope of GST

In the current article we will discuss about activities or transactions which shall be treated neither as a supply of goods nor a supply of services. The levy of GST comes only if the goods or services comes under the purview of supply so the below activities are not to be treated as supply hence […]...

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Posted Under: Finance |

Forensic Audit: Field to Explore

Everyone reading this article would have obviously heard of Forensic Audit. And there is nothing surprising to that, as this word ‘Forensic Audit’ has become so familiar now these days, and special credit for this goes to Mr.Nirav Modi and Mr.Vijay Mallya and a huge pile of NPA’s build up by our state-owned banks. 1. [&h...

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Posted Under: Finance |

Online GST Amendment Batch – Oct 2018 (Registration Open)

TaxGuru and GST Professionals announces its short batch covering GST Audit and Annual Return with detailed Amendments - Oct 2018. Batch start date 28th October’ 2018. ...

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HC declines to direct CBIC to allow rectification of GST–Tran1 already filed

https://taxguru.in/wp-content/uploads/2018/10/Jay-Chemical-Industries-Limited-Vs-Union-Of-India-Gujarat-High-Court.pdf

Jay Chemical Industries Limited Vs Union Of India (Gujarat High Court) While the entire tax structure within the country was thus being replaced by a new framework, it was necessary for the legislature to make transitional provisions. Section 140 of the CGST Act, which is a transitional provision, essentially preserves all taxes paid or...

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Reg. Anti-dumping duty on the import of Phthalic Anhydride

Notification No. 52/2018-Customs (ADD), (15/10/2018)

Seeks to not to continue levy of anti-dumping duty on the import of Phthalic Anhydride, originating in or exported from Korea RP, Taiwan and Israel which was levied by rescind Notification No. 58/2012-Customs (ADD) dated 24th December, 2012. NOTIFICATION No. 52/2018-Customs (ADD) Dated: 15th October, 2018...

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Interest u/s 234A despite due date extension: HC issue Notice to CBDT

Lucknow CA Tax Practitioners Association VS. UOI (Allahabad High Court)

Lucknow CA Tax Practitioners Association VS. UOI (Allahabad High Court) As far as prayer no.1 of the petitioner-association for issuance of a mandamus to the respondents to extend the “Due Date” of filing of Income Tax Return of Tax Audit Cases from 15.10.2018 to at least up to 31.10.2018 or such other date is concerned, [&hel...

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Maharashtra Goods and Services Tax (Amendment) Ordinance, 2018

Maharashtra Ordinance No. XXII of 2018 (13/10/2018)

The Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017) has been enacted with a view to make a provision for levy and collection of tax on intra-State supply of goods or services or both....

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Procedure for Right Issue of Shares with Relevant Formats

Background- As per Section 62(1) of the Companies act, 2013 if the Company decides to issue fresh shares, these should be offered to existing shareholders in proportion to existing persons who are holders of equity shares. ‘Right Issue’ means offering shares to existing members in proportion to their existing share holding. The object...

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Posted Under: Finance |