Office of the Commissioner of Sales Tax, (GST), 8th floor, GST Bhavan, Mazgaon, Mumbai-400010. TRADE CIRCULAR No: ACST (VAT)-3/Led. Confirmation/SAP/2018-19/B- 535 Mumbai, Dt 25/04/19 Trade Circular No. 15T of 2019 Subject : Submission of details of sales through Online Ledger Confirmation Utility.. Reference : Trade Circular No. 30T of 2018 dated 24/10/2018 Your attention is invited towards […]
Companies deals with more stringent regulations as compared to Non-corporate Entities which majorly pursue common objectives or formed to provide benefits/services to its members. Non-corporate Entities may be incorporated in the form of society, trust, club, welfare association, civic bodies etc. Usually the Governing Body/Council of Non-corporate Entities comprises of members chosen from among the […]
MCA has vide its notification dated 21st February, 2019 notified an ordinance for banning the Unregulated Deposit Scheme with immediate effect. Ordinance is named ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019‘. Deposit– Deposit means an amount of money received by way of an advance or loan or in any other form, by any deposit taker with […]
For employees with monthly pay of less than Rs 15,000, however, inclusion of all allowances in wages for PF calculation would result in a lower take-home salary. For employees with monthly pay of more than Rs15,000, Calculation of PF for Employer Contribution will be restricted to 12% of Rs. 15,000 only. So there will be no impact for such employees.
Power of review is not an inherent power but must be conferred by law either specifically or by necessary implication. Courts have consistently held that review proceedings imply those proceedings where a party, as of right, can apply for reconsideration of the matter already decided upon after a fresh hearing on the merits of the controversy between the parties and that such a remedy is available only if provided by the statute.
The Indian Accounting Standards (IND AS) are Accounting Standards, harmonized with IFRS (International Financial Reporting Standards)/IAS (International Accounting Standards) to make Financials Accounts and Reports of Indian Companies internationally accessible, acceptable, transparent and comparable.
Section 16 of CGST Act 2017 provides that every registered person shall be entitled to take Input Tax Credit of tax paid on input and input service, subject to such conditions and restrictions as may be prescribed.Section 16(2) of CGST Act 2017 provides that ITC on Input and service shall be available subject to following conditions: –
Every registered taxpayer under GST is required to file an annual return in FORM GSTR-9, however, there are some categories of persons who are exempted from filing of an annual return in FORM GSTR-9. Present article decodes the provisions relating to filing of an annual return in FORM GSTR-9 along with FAQ. List of relevant […]
Item 1 of Schedule 1 of the Competition commission of India (Procedure in regard to transaction of Business relating to combinations) [hereinafter, the regulations] declares that there is no requirement to notify the commission if the acquisitions are either made in the ordinary course of business or for solely investment purposes as they are not likely to cause appreciable adverse effect in the competition.
In GST Law provision has been made for reversal of ITC where payment to vendor is not made in 180 days. Below is the clarification with example on the relevant provision:-
