"04 October 2018" Archive - Page 4

E-com module for applying SEIS to be active from 08.10.2018

Trade Notice No. 34/2018 (04/10/2018)

All the RAs and the members of trade are being informed that due to unavoidable circumstances. the SEIS E com module which was earlier announced to be ready for accepting applications from 03.10.2018 would now be available from Monday 08.10.2018....

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Key Features – Return Preparation Utility (RPU) version 2.4

Key Features – Return Preparation Utility (RPU) version 2.4 ♦ Integration of new Encryption certificate in File Validation Utilities (FVUs) > Renewed Encryption certificate with extended validity has been integrated in FVUs ♦ Incorporation of latest File Validation Utility (FVU) version 5.9 (applicable for TDS/TCS statements pert...

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Posted Under: DGFT |

ICAI letter to FM on evaluation of tendering for professional services

ICAI has certain suggestions regarding the evaluation process of tendering with respect to professional services. As per the present practice of tendering, the Least Cost Selection (LCS) Criteria are being adopted for awarding the work for professional services (audit service) however, for evaluation of tenders floated for services other ...

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Posted Under: DGFT |

Have the tax saving Fixed deposits become more attractive to senior citizens

The recent increase in the interest rates on small savings schemes for the current quarter will sooner than later force the banks to increase interest rates offered by them on fixed deposits. With the imminent increase in the fixed deposits interest rates by the banks, the fixed deposits will become a more attractive investment product sp...

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Posted Under: DGFT |

Peculiar case of Differential Voting Right Shares in India

To summarise in a few words, DVR shares are merely the same shares of a company, having, mutatis mutandis, all the rights and privileges that are vested in the ordinary shares of the Company, except as to voting and in some cases, dividends....

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Posted Under: DGFT |

GST Audit & Reconciliation – RCM Related Critical Issues

Time is now ripe for conducting GST Audit along with Reconciliation with books of accounts and filing of GST Annual Return. While reconciling the Accounts, it is very important to look into Transactions that attracts Reverse Charge, where the Recipient is Liable for Discharge Taxes and not the Supplier....

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Posted Under: DGFT | , ,

Reverse Charge Mechanism under GST- An Analysis

1. What is Reverse Charge? Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax, i.e., the chargeability gets reversed. 2. Why Reverse Charge Mechanism under GST? Motive of Reverse Charge Mechanism is mainly more tax compliance and increased […...

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Posted Under: DGFT |

Insolvency & Bankruptcy Code-Home buyers: Most outstanding judgement – reduction of voting share

Nikhil Mehta & Sons (HUF) & Ors vs M/s AMR Infrastructure Ltd (NCLT, New Delhi)

In a memorable and consequential judgement, in the matter of Nikhil Mehta & Sons (HUF)&Or’s vs M/s AMR Infrastructure Ltd (CA No. 811(PB/2018 in IB-02(pb)/2017, it has been upheld that the voting threshold in the IBC are merely directory in nature and that preference can be taken to decision taken by the largest percentage in th...

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Posted Under: DGFT | |

Effectiveness of Trading Plan – Used or abused??

The concept of trading plan was introduced in India by the SEBI (Prohibition of Insider Trading) Regulations, 2015 (The PIT Regulations). Every company has persons holding key managerial positions or promoters who are involved in decision making and are perpetually in possession of Unpublished Price Sensitive Information (UPSI). ...

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Posted Under: DGFT |