"13 November 2018" Archive

National Financial Reporting Authority (NFRA) Rules, 2018

G.S.R. 1111(E) 13/11/2018

MCA has notified the National Financial Reporting Authority (NFRA) Rules, 2018, which inter-alia includes provisions relating to Classes of companies to be governed by NFRA along with its Functions and duties, ICAI to Recommend and NFRA to monitor and enforce compliance of accounting/ auditing standards. Besides, NFRA has been empowered t...

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Companies (Registered Valuers and Valuation) Fourth Amendment Rules, 2018

G.S.R (E). 13/11/2018

MCA vide its notification dated 13 November 2018  notified Companies (Registered Valuers and Valuation) Fourth Amendment Rules 2018. Companies (Registered Valuers and Valuation) Fourth Amendment Rules, 2018 will come into force on the date of their publication in the Official Gazette. Government of India Ministry of Corporate Affairs Not...

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Guidelines for Enhanced Disclosures by Credit Rating Agencies (CRAs)

Circular No. SEBI/HO/MIRSD/DOS3/CIR/P/2018/140 13/11/2018

SEBI, vide Circular dated November 01, 2016, had prescribed the standard format for press release regarding rating action by CRAs. While CRAs are required to monitor and analyse the relevant factors that affect the creditworthiness of an issuer and discuss the same in the rating notes considered by the rating committee for assignment of r...

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Rounding Off Railway Fares Prima Facie Abuse of Dominance: CCI

Mr. Meet Shah Vs Union of India, Ministry of Railway (Competition Commissioner of India)

Mr. Meet Shah Vs Union of India, Ministry of Railway (Competition Commissioner of India) Railway and IRCTC (Opposite Parties) have not been able to convince the Commission as to why the policy of rounding off of actual base fares to the next higher multiple of Rs.5 is applicable to the sale of online tickets, when […]...

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Uploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs

Circular No. 44/2018-Customs 13/11/2018

It is proposed to introduce a facility to upload digitally signed Licenses / Permits / Certificates / Other Authorizations (LPCOs) by Participating Government Agencies (PGAs) on eSANCHIT at all ICES locations across India from 16.11.2018. ...

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Process of Acceptance of TDS Credit by Deductee under GST

Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017, Section 21 of the UTGST Act, 2017 provide for Tax Deduction at Source( TDS) . GST Council in its 28th Meeting held on 21-07-2018 recommended the introduction of TDS From 01.10.2018....

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Posted Under: Company Law |

Committee of Experts on regulating audit firms & net- works report: A discussion

Committee of Experts on regulating audit firms and net- works set up by Ministry of Corporate Affairs in response to the issues raised by the Honorable Supreme Court in the judgement of S.Sukumar Vs. Institute of Chartered Accountants of India(February 23, 2018) submitted its report on October 25, 2018. It deals with steps to be taken to ...

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Posted Under: Company Law |

Complete Analysis of Annual Return and GST Audit

Government has announced for annual return to be filed under Goods & Service tax Act. However a Lot of difficulties are being faced by taxpayers and professionals while filing GST returns due to technical glitches and ambiguous law. After filing monthly returns, a regular person has to even file an Annual Return which is quite detaile...

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Registration of Your Trademark

 WHY BRAND NAME REGISTRATION NECESSARY? With the economic growth the demand for trademark registration is also growing. It is very important for all corporate owners be it businessman or individual entrepreneur, to protect your company as it is directly linked to your company’s success.  The basic motto is to protect your business ag...

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Posted Under: Company Law |

TDS Provisions under Income Tax Act, 1961

TDS is abbreviated for tax deducted at source which was introduced to collect taxes at source from where the income is generated. The government uses TDS as a tool to collect tax in order to minimise tax evasion by taxing the income at the time it is generated rather than at a later date...

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Posted Under: Company Law |

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