"06 February 2019" Archive

Furnishing of info about payment to micro & small enterprise suppliers

Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order,2019 (06/02/2019)

Every specified company shall file a return as per MSME Form I annexed to this Order, by 31st October for the period from April to September and by 30th April for the period from October to March. ...

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Posted Under: Company Law |

Set off of Input Tax Credit (ITC) under GST from 1st February 2019

The criteria for setting off of Input Tax Credit (ITC) has been changed under GST thru Central Goods & Services Tax (Amendment) Act 2018, which has been made effective from 1st February 2019. As per old rules, following was the priority of set-off of ITC was as below: For CGST Output – First set off […]...

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Posted Under: Company Law |

E-book on Interim Budget – 2019 Analysis with Examples

This E-book / Article Contains following features of Interim Budget – 2019. 1. Standard Deduction and Rebate u/s. 87A 2. Example on Nil Tax for Senior Citizen upto Rs. 7.50 Lakhs Income 3. Example on Nil Tax for Others upto Rs. 7.10 Lakhs Income 4. Example on Extreme Tax Saving upto Rs. 11 Lakhs Income […]...

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Posted Under: Company Law |

Self write offs of unrealized export bills

An exporter who has not been able to realize the outstanding export dues despite best efforts, may either self-write-off or approach the AD, who had handled the relevant shipping documents, with appropriate supporting documentary evidence. The limits prescribed for write-offs of unrealized export bills are as under: Self-write-off by an e...

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Posted Under: Company Law |

Do Surgical Strike , Not Tax Terrorism For Collection of Tax

CBDT- HOW’S THE TAX COLLECTION? Income Tax Officers- high CBDT- HOW’S THE TAX COLLECTION? Income Tax Officers- HIGH CBDT –HOW’S THE TAX COLLECTION? Income Tax Officers- HIGH CBDT- I WANT TO HEAR HIGGGGHHHHHHHHHH Well, as we are marching towards March, i.e end of financial year, Income tax department by any means even by ignoring t...

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Posted Under: Company Law |

Various committees under SEBI listing regulations & Companies Law

Difference between the constitution of various committees to be constituted under SEBI (LODR) regulations 2015 and companies act 2013 which includes Audit Committee, Nomination & Remuneration Committee and Stakeholder Relationship Committee. 1. Audit Committee Point Of Difference SEBI (LODR) Regulations 2015 The Company Act 2013 Membe...

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Posted Under: Company Law |

Changes in GST Payment/Set Off Rules from 1st February 2019

On and from 1st February 2019, The Order for availing the set off of ITC has been changed and new Sections 49A & 49B under The CGST Act 2017 have been made effective. Let us analyse the impact of the same on Trade & Industry – The Amendment – 21. After section 49 of the […]...

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Posted Under: Company Law |

Things to Consider When You Invest in NCDs

Every investor wishes to have investments which offer high returns and also manage liquidity and risk. A Non Convertible Debenture (NCD) is one such investment. It delivers higher returns as compared to fixed deposits after liquidity. Traditional investment options such as Fixed Deposits or PPF can offer steady income but the returns may ...

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Posted Under: Company Law |

Supplies from Unregistered Persons Subject to Reverse Charge W.E.F 01.02.2019?

There is a wide spread confusion that reverse charge as per sec. 9(4) of the CGST/SGST (UTGST)  Act and sec. 5(4) of the IGST Act has again been made applicable w.e.f 01.02.2019. For the sake of simplicity we would like to confine ourselves to the provisions of only CGST Act. The CGST Act, 2017 was […]...

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Posted Under: Company Law |

Understanding meaning of Extradition Treaty and Arrangement

Extradition is an act where one jurisdiction delivers a person accused or convicted of committing a crime in another jurisdiction, over to their law enforcement. It is a cooperative law enforcement process between the two jurisdictions and depends on the arrangements made between them...

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Posted Under: Company Law |