"06 May 2019" Archive

All about Amendments to Maharashtra Value Added Tax Act, 2002

Trade Circular No. 16T of 2019 (06/05/2019)

A dealer can also apply to the assessing officer in case claims against declarations or certificates were disallowed in the assessment order due to non-production of such declarations or certificates and if such declarations or certificates have now been received. [sec. 24(2)] Rectification application can be filed only if appeal is not f...

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Key Highlights of the India-Hong Kong DTAA

The India-Hong Kong DTAA enters into force from 30th November, 2018. The same would be effectively applicable from 01st April, 2019.  Accordingly, the benefit of the provisions of the DTAA can be claimed in respect of the income derived in any year starting from April 1, 2019. The companies engaged into cross-border transactions with Hon...

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Brief comparison Right issue, Private placement & Preferential Allotment

Article compares Right issue, Private placement and Preferential Allotment on following points- Applicable provisions under Companies Act, 2013, Meaning & Coverage, Definition of Security, If any, Approval Required, Offer period, Mode of Dispatch of offer letter, Format of offer Letter, Forms to be filled, Time period for allotment of...

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Registration of Taxpayers in GST

SECTION RANGE: 22 to 30 As per Section 22 of the CGST/SGST Act 2017, every supplier who makes a taxable supply with all India Aggregate Turnover exceeding Rs 20 lakh will have to register in every state in which he conducts business. This threshold will be 10 lakh if business is in Assam, Arunachal Pradesh, J&K, Himachal Pradesh...

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Labour Audit Documents

BRIEF LIST OF DOCUMENTS under Shop and Establishment Act, The Contract Labour (Regulation And Abolition) Act 1970 – Central Act, The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 – Central Act, The Equal Remuneration Act, 1976, The Maternity Benefit Act 1961 – Central Act, The Minimum Wages Act ...

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Changes in Direct, Indirect & International taxation W.E.F. 01st April, 2019

With the start of the new financial year 2019-20, following are some of the changes that can affect your financial planning as a few changes related to income tax, GST and international taxation came into effect from 01st April, 2019: A) Income Tax  Following are the changes under Income-tax law applicable from April 1, 2019: 1. [&helli...

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FORM MSME-1 Furnishing return with ROC

FORM MSME-1 Furnishing return with ROC in respect of outstanding payments to Micro or Small Enterprises As you are aware that the MCA wide order dated 22nd January, 2019 directed all companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprise suppliers exceed forty [&h...

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Full Fledged Money Changers /Authorised Money Changers

Full Fledged Money Changers (FFMCs)/Authorised Money Chnagers (AMCs) Authorised Money Changers (AMCs) are entities, authorised by the Reserve Bank under Section 10 of the Foreign Exchange Management Act, 1999. An AMC is a Full Fledged Money Changer (FFMC). In addition to Authorised Dealer Category -I Banks (AD Category–I Banks) and Auth...

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Taxation of Development rights under GST

Arjuna, Yes the taxation of Development Rights under GST has changed from 1st April 2019. But before seeing the changes let us know something about TDR/JDA. Joint Development Agreement (JDA) is an agreement between a landowner and a real estate developer to construct new projects; where the landowner provides the land and the builder carr...

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Remove Director Disqualification Before Filing INC 22A

The new e-Form INC 22A- Active Company Tagging Identities and Verification (ACTIVE) has been initiated by MCA based on Rule 25A of Companies (Incorporation) Amendment Rules, 2019. ...

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