"19 December 2018" Archive

CPA Cover For Vehicle Owners Increased; What It Means For You?

CPA, Compulsory Personal Accident insurance is the new mandate as per the insurance regulator, IRDAI (Insurance Regulatory Authority of India). All the vehicles should be covered by a motor insurance plan as per the Motor Vehicles Act, 1988. It is an offense to ride a bike without a valid driving license and a valid insurance […]...

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Posted Under: Finance |

Applicability of IBC proceedings in Struck off Companies

Can Corporate Insolvency Resolution Process be initiated against a company which has been struck off under Section 248 of the Companies Act, 2013?...

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Posted Under: Finance |

FAQs on Assessment during Practical Training of CA Students

What will be the criteria for appearing in these assessment tests? The students after completing the 1st/ 2nd year of practical training are eligible to appear in these assessment tests in the subsequent quarter of completion of the same. For example, a student completing his/her 1st/ 2nd year of practical training during April-June,...

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Posted Under: Finance |

Ind AS Technical Facilitation Group Clarification Bulletin 17

Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance, has recently been amended in certain respects and consequential amendments have been made to certain other Ind ASs vide notification dated 20th September, 2018 (‘the notification’) issued by the Ministry of Corporate Affairs, Government of India....

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Posted Under: Finance |

Draft Agenda of First Audit Committee & Board committee Meeting for every Financial Year including Directors Disclosures

Draft Agenda of First Audit Committee & Board committee Meeting for every Financial Year including Directors Disclosures Draft AGENDA (For Audit Meeting) Agenda for the 1st Meeting for FY 201…………….. of Audit Committee of ……………………………….. (name of the co.)  Limited to be held on ………….(day), …...

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Posted Under: Finance |

HC condone Delay in filing First Appeal under GST

M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court)

M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court) In W.P.(C) No.13090 of 2018, the petitioner challenged the Ext.P6 assessment order. When the matter was taken up, the learned Government Pleader pointed out that the petitioner had an efficacious alternative remedy. Then, the petitioner’s counsel submitted that un...

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CPA Cover For Vehicle Owners Increased; What It Means For You?

CPA, Compulsory Personal Accident insurance is the new mandate as per the insurance regulator, IRDAI (Insurance Regulatory Authority of India). All the vehicles should be covered by a motor insurance plan as per the Motor Vehicles Act, 1988. It is an offense to ride a bike without a valid driving license and a valid insurance […]...

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Posted Under: Finance |

Clarification on Intra-State E-way Bill limit of Rs. One lac in Maharashtra

Corrigendum to Trade Circular No. 36T of 2018 (19/12/2018)

It is hereby clarified that, there is no change in the monetary limit for the intra-State movement of the goods as provided under the Notification cited at Ref. (1) above. In other words, with effect from 1st July 2018, no e-way bill is required to be generated for the intra-State movement in the State of Maharashtra...

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E-Way Bill: Common Enrolment for Registered Transporters -Points to Remember

One of the requests of the transporters was that they have to be allowed to use one registration number for updation of e-way bills throughout the country. That is, once the e-way bill generated with one of GSTIN of its company, the system should enable to update the Part-B using any of their GSTINs without […]...

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Posted Under: Finance |

5% GST payable on Earth Work constituting more than 75% of work order

In re M/s. P.K. Agarwala (GST AAR Jharkhand)

In re M/s. P.K. Agarwala (GST AAR Jharkhand) The term Earth Work has not been defined under any GST provisions. The Webster Dictionary defines Earth Work as ” an embankment or construction made of earth specially one used as a field fortification. The Collins dictionary defines Earth Work as “excavation of earth as in enginee...

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