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Archive: 18 December 2018

Posts in 18 December 2018

GST AAR refereed to Appellate Authority due to different views of members

December 18, 2018 1182 Views 1 comment Print

In re M/s Sam Overseas (GST AAR Uttarakhand) Classification and applicability of GST rate on the ‘Rejected Wheat Seed’ and ‘Rejected Paddy Seed’.  Due to different views of members matter been referred to Appellate Authority hearing and decision on said issue in terms of Section 98(5) of the Act ibid which provide that where the […]

SA- 701- key audit matters

December 18, 2018 112398 Views 4 comments Print

SA 701 is applicable for audits of financial statements for periods beginning on or after April 01,2018 for audits of complete sets of general purpose financial statements of listed entities. It casts a new reporting requirement on auditors of listed entities to communicate the key audit matters in their audit reports.

CBDT notifies period for furnishing report U/s. 286(4) by constituent entity

December 18, 2018 2061 Views 1 comment Print

The period for furnishing of the report under sub-section (4) of section 286 by the constituent entity referred to in that sub-section shall be twelve months from the end of the reporting accounting year:

Key Provision of Writ Petition as Remedy to Tax Litigations

December 18, 2018 20658 Views 1 comment Print

A writ is a formal written order or direction that the Court issues which is to be obeyed by the authority or person to whom it is issued. A person appealing before the Hon’ble Supreme Court and High Courts for issuance of a direction for grant of immediate relief is called Writ petition.

International Perspective on Transfer Pricing Regime

December 18, 2018 4320 Views 0 comment Print

In the aftermath of the second world war, the global trade has continued to develop and has resulted in globalization of trade. In the era of globalization, the fixed boundaries within which a firm used to operate have transcended and firms have integrated their operations around the world, taking advantage of cheap labour and technological […]

DGFT permit PUF panels/doors, furniture & fixtures under EPCG Scheme

December 18, 2018 1794 Views 0 comment Print

Imports of PUF panels/doors for chilled Rooms/cold storages and furniture and fixtures etc. for hospitals are allowed under the EPCG. Public Notice No. 61/2015-20

Co-relation between MVAT audit report and GST !

December 18, 2018 3726 Views 0 comment Print

Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same.

Compliance Guide on Loans from Directors

December 18, 2018 215916 Views 6 comments Print

There is always a lot of discussion regarding loans given by a company to its director, but seldom we talk about directors giving loans to companies and the plethora of legal compliances they entail. To avoid confusion, we will discuss the issue as per latest amended law. The issue at hand is how to classify […]

Companies (Registration of Charges) Second Amendment Rules, 2018

December 18, 2018 1797 Views 0 comment Print

MCA has introduced Revised eForm CHG-4 -Particulars for satisfaction of charge vide Companies (Registration of Charges) Second Amendment Rules, 2018. eForm CHG-4 is required to be filed pursuant to Section 82(1) of the Companies Act, 2013 and Rule 8(1) of Companies (Registration of Charges) Rules, 2014. Government of India MINISTRY OF CORPORATE AFFAIRS Notification New […]

Draft amendment to rule 8 of Companies (Incorporation) Rules, 2014 – Name Availability

December 18, 2018 4635 Views 0 comment Print

Names which resemble too nearly with the name of an existing company. (1) A name applied for shall be deemed to resemble too nearly with the name of an existing company, if, and only if, after comparing the name applied for with the name of an existing company by disregarding the matters set out in sub-rule (2), the names are same.

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