"14 November 2018" Archive

Processing of refund under the GST in Maharashtra

Trade Circular No. 33T of 2018 (14/11/2018)

Trade Circular 33T of 2018 explains Submission of invoices for processing of claims of GST refund, System validations in calculating GST refund amount,  Re-credit of electronic credit ledger in case of rejection of GST refund claim, Disbursal of GST refund amount after sanctioning by the proper officer, Status of GST refund claim after i...

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Tax implication of partial or full withdrawals from PPF, EPF & NPS

We have already discussed the withdrawal facility for three major retirement products- Employee Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS) in previous articles. Now it is logical to understand and discuss the tax implications for such withdrawals....

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SEBI (Delisting of Equity Shares) (Second Amendment) Regulations, 2018

Notification No. SEBI/LAD-NRO/GN/2018/46 (14/11/2018)

These regulations may be called the Securities and Exchange Board of India (Delisting of Equity Shares) (Second Amendment) Regulations, 2018. They shall come into force on the date of their publication in the Official Gazette....

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Input Credit and Tax Payments under UAE VAT

VAT in UAE is a general consumption tax which will be levied on the majority of transactions of goods and services unless specifically exempted by the Law. Under this, VAT is charged at every stage of ‘Value Addition’ in the supply chain and the mechanism of Input tax deduction ensures that the businesses act as […]...

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Classes of companies and bodies corporate governed by NFRA and respective reporting requirements

Classes of companies and bodies corporate governed by the NFRA: (Rule 3) (a) companies whose securities are listed on any stock exchange in India or outside India; (b) unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having...

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Comparative and Quick view between GSTR 9 and GSTR 9C

With the implementation of Goods and Services Tax (GST) in India from July 1, 2017, there has been a paradigm shift in indirect taxation structure in India from origin-based tax to destination based tax. The professional have an opportunity as well as responsibility to assist the assessees in filing the statutory Form 9 and also in conduc...

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Filing of Belated Return under Income Tax Act

Have you missed the extended income tax return (ITR) filing deadline for FY 2017-18 which was 31st August, 2018? Don’t worry, you can still have time to file your return. But for filing ITR after due date few things which you must be aware. In view of that, give a thorough read to this article. […]...

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Taxability of inter-company supply of services in GST unveiled: An under thought area of taxation

Whether the activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states i.e. distinct persons, shall be treated as supply to attract GST?...

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One Person Company (OPC)

1. Definition of One Person Company (OPC) According to section 2 (62) of the companies Act, 2013, ‘One Person Company (OPC)’ means a company which has only one person as a member. 2. No. of Persons Required for formation of OPC An OPC company can be formed with just 1 Director and 1 member. 3. […]...

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DHFL’s COCODrive – India’s first pick and pay car insurance policy

With a continuous rise in the number of automobiles on Indian roads, it’s getting tougher to safeguard your car from any unwanted accidents. The exorbitant cost of repairs, coupled with the expensive spare parts, could definitely make a hole in your pockets that is why it’s important to have a good Car Insurance policy. With […...

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