"05 December 2018" Archive

The Biggest question! How to file GST Audit Report before 31st December?

GSTR 9C is an annual audit form for the taxpayers registered under GST. It is reconciliation statement between the Annual Return 9 filed and the figures as per Audited Annual Financial statements. In short it can be said that it is similar to the audit report furnished under the Income tax act. It is certified by the CA....

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Liquidation process for Corporate Persons

The provisions dealing with the liquidation of corporate persons are imbibed in the chapter III of the part II of the Insolvency and Bankruptcy code....

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Changes In Pan Application Rules With Effect From 5th December, 2018

CBDT on  19th November, 2018 vide Notification- G.S.R. 1128(E) changed the PAN (Permanent Account Number) card rules in order to prevent tax evasion. The new rules will come into effect from 5th December , 2018. ♣ In the case of a person, being a resident, other than an individual, which enters into a financial transaction of an a...

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Statutory and Tax & Legal Compliance Calendar for December 2018

Compliances Calendar for GST, Compliances Calendar for ESI and PF Payments, Compliances Calendar for Income Tax Act and Compliance Calendar for Companies Act, 2013- S. No Particulars of Compliance Forms/returns Due Date Compliances Calendar for GST 1. Return of outward supplies of taxable goods and/or services from July to November 2018 (...

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GST on Canteen Services by Employer

This article explains GST applicability on canteen services provided by the employer of its employees without consideration. This article is based on provisions up to 05th December 2018...

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Applicability of various Rules and Provision for Classes of Companies

Article  contains the various Rules and section that are applicable to class or classes of companies as per companies Act, 2013. It explains Applicability of Cash Flow Statement, Annual Return and Company Secretary (CS) in practice, Certification of Annual Return by a CS in practice, Corporate Social Responsibility, Internal Auditor, Wom...

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ICAI demands apology from ET for publishing alleged derogatory article

Please refer to the article titled ICAI is dead. How a ministry report put the final nail in the coffin written by N Sundaresha Subramanian and Muskan Khan and published in the ET Prime dated 22nd November, 2018...

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Consequences of not filing GST Annual Return

Applicable provisions in respect of Consequences of not filing GST Annual Return under CGST Act, 2017: Sec 46, Sec 47(2), Sec 2(112), Sec 125 and Sec 149 of Central Goods and Services Act, 2017 Section 46 Notice to return defaulters.- 46. Where a registered person fails to furnish a return under section 39 or section […]...

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RBI Guidelines on Loan System for Delivery of Bank Credit

RBI/2018-19/87 DBR.BP.BC.No.12/21.04.048/2018-19 (05/12/2018)

With a view to enhance credit discipline among the larger borrowers enjoying working capital facility from the banking system, delivery of bank credit for such borrowers shall be as under:...

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General Bond (Form B-17) to be executed by the EOUs

Notification No. 1/2018-Central Excise (N.T) (05/12/2018)

CBIC hereby notifies Form B – 17 General Bond (with Surety/Security) to be executed by the Export Oriented Units /Units in the Electronic Hardware Technology Park/Software Technology Park/ Bio-Technology Park vide Notification No. 1/2018-Central Excise (N.T) Dated 5th December, 2018....

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January 2021