"01 October 2019" Archive

Join Advanced Online GST Certification Course by TaxGuru Edu – Batch 12

TaxGuru Edu, an educational wing of Taxguru bring you the best in class Advanced Online GST Certification Course – Batch 12. Learn GST in a Practical way and become an Expert in this field. Batch covers detailed analysis of Entire GST law with special focus on Effective GST Audits & Reconciliation Statements, filing of Annual [&hell...

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Gist of GST Notifications- Changes effective from 01st Oct 2019

Gist of Notifications issued in order to implement the recommendations of the GST Council in their meeting held on September 20, 2019 There are several changes proposed in GST rates on specified goods and services during the 37th GST Council meeting held on September 20, 2019. The Central Government has now given effect to the recommenda...

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CBDT inks the 300th Advance Pricing Agreement

The Central Board of Direct Taxes (CBDT) has signed the 300th Advance Pricing Agreement (APA) during the month of September, 2019. This is a significant landmark of India’s APA Programme, which is currently in its seventh year. Three APAs were entered into in September, 2019 (2 Unilateral and 1 Bilateral APA), which has taken the [&hell...

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GST Revenue collection for September, 2019

The total gross GST revenue collected in the month of September, 2019 is Rs. 91,916 crore of which CGST is Rs. 16,630 crore, SGST is Rs. 22,598 crore, IGST is  Rs. 45,069  crore (including Rs.  22,097 crore collected on imports) and Cess is Rs. 7,620 crore (including Rs.  728 crore collected on imports). The total number of GSTR...

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Investing in Mutual Funds Just Got Easier

Today, mutual funds have emerged as one of the ideal investment alternatives for creating long-term wealth and achieving financial goals. One of the key reasons for the rise of mutual funds is the ease with which investors today can invest in Mutual Funds. With the advancement of technology, investing in mutual funds has become a [&hellip...

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5 Legal Mistakes Every Startup Business should avoid

Starting a new venture is an exciting event for every budding entrepreneur. But they also encounter a lot of obstacles when it comes to starting a company from scratch. For example, Startup cost is the most common hurdle that every entrepreneurs face and one should know that there are SME loans. A business loan can […]...

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Amendment to the Maharashtra Value Added Tax Rules, 2005

Trade Circular No. 49T of 2019 (01/10/2019)

(i) A registered dealer whose tax liability during the previous year had not exceeded rupees twenty five thousand, shall file Annual Return within twenty one days from the end of the year to which such return relates....

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Mutual fund allowed to invest in unlisted Non-Convertible Debentures

Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/104 (01/10/2019)

Mutual fund schemes may invest in unlisted Non-Convertible Debentures (NCDs) not exceeding 10% of the debt portfolio of the scheme subject to the condition that such unlisted NCDs have a simple structure (i.e. with fixed and uniform coupon, fixed maturity period, without any options, fully paid up upfront, without any credit enhancements ...

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Amendment in Import & Export Policy of electronic cigarettes- reg

Circular No. 35/2019-Customs (01/10/2019)

Considering the adverse health impact of e-Cigarettes/ENDS and in order to prevent the initiation of nicotine through e-Cigarettes by non-smokers and youth, with special attention to vulnerable groups, the Directorate General of Foreign Trade, Department of Commerce, Ministry of Commerce 86 Industry has issued the aforesaid Notifications...

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Procedure to follow in case of manufacturing or other operations undertaken in bonded warehouses

Circular No. 34/2019-Customs (01/10/2019)

Circular No. 34/2019-Customs Procedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs Act...

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Deductions and Deposits of TDS by DDOs U/s. 51 of GST Act 2017

F. No. PDU/4(3)2019/7980 (01/10/2019)

Employees Provident Fund Organization (Ministry of Labour & Employment, Govt. of India) Head Office Bhavishya Nidhi Bhawan, 14-Bhikaji Cama Place, New Delhi – 110066 No. PDU/4(3)2019/7980 Date: 01 Oct 2019 To, The Zonal ACCs/Director (PDNASS)/RPFCs in-charge, All Zonal Office/Regional Offices/ZT1s/NDC/ASD of Head Office. Subject...

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Warehoused Goods (Removal) Amendment Regulations, 2019

Notification No. 71/2019-Customs (N.T.) (01/10/2019)

(1) These regulations may be called the Warehoused Goods (Removal) Amendment Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Warehouse (Custody and Handling of Goods) Amendment Regulations, 2019

Notification No. 70/2019-Customs (N.T.) (01/10/2019)

(1) These regulations may be called as the Warehouse (Custody and Handling of Goods) Amendment Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Manufacture and Other Operations in Warehouse (no. 2) Regulations, 2019

Notification No. 69/2019-Customs (N.T.) (01/10/2019)

(1) These regulations may be called the Manufacture and Other Operations in Warehouse (no. 2) Regulations, 2019. (2) They shall come into force on the date of their publication in the official gazette....

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Notification No. 52/2019-Customs (N.T./CAA/Extension/DRI), Dated: 01.10.2019

Notification No. 52/2019-Customs (N.T./CAA/EXTENSION/DRI) (01/10/2019)

Notification No. 52/2019-Customs (N.T./CAA/Extension/DRI)...

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Maharashtra Profession Tax : Administrative Relief to un-registered employer

Trade Circular No. 50T of 2019 (01/10/2019)

The power to regulate the case of delay due to technical difficulties in obtaining registration under the Profession Tax Act are hereby delegated to the Joint Commissioner of State Tax (Adm) of the respective division and for Mumbai to Joint Commissioner of Profession Tax, Mumbai....

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Corporate tax Dandiya between Corporates taxpayers, enjoy it!

inance Minister introduced amendments in Income Tax to boost economy. Corporate tax Dandiya ground is of Income Tax, the players are corporate taxpayers. The music is being played to boost economy. The Corporate tax Dandiya is for coporate tax payers only and no passes are given to non-corporate taxpayers i.e. it is not applicable to indi...

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DIN VERIFICATION- A identification of Director

DIN VERIFICATION- A identification of Director Verification of Director is being done through checking of unique mobile number and email id of each director by Registrar of companies whether he is alive or not. It is as per Rule 12A of The Companies (Appointment and Qualification of Directors) Rules 2014. The Rule came from financial [&he...

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ICAI gets Registration of acronym “UDIN” as Trade Mark

Registration of UDIN as Trade Mark Unique Document Identification Number (UDIN) is gaining acceptability in business and industry as a tool to bring authenticity to the certificates issued by the Chartered Accountants. More than 30 lakh UDINs have been generated and more than 1 lakh members have already registered on UDIN Portal. Bringing...

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Deduction under section 80GGC of Income Tax Act

Vide Finance Act 2009, deduction under section 80GGC was introduced mainly with an objective of achieving transparency into the electoral funding system and also reducing corruption to some extent. Section 80GGC provides deduction towards donations / contribution made to a political party or an electoral trust. It is worthwhile to note ...

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Key Challenges faced by Compliance Officers in India

Organisations in India are facing greater scrutiny than ever. In FY 17-18, 226,000 shell companies were deregistered. In addition, the government barred over 300,000 directors of companies that have defaulted on statutory compliances from serving on boards of other companies to improve corporate governance and compliance....

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Offenses and Penalties in Goods and Services Tax

Offenses and Penalties Leviable Under the CGST/SGST Act The major offenses under the GST Law are those involving the non-payment or short-payment of taxes or improper availment or utilization of input tax credit or erroneous refund which are mostly covered under section 73 and 74 of the CGST Act. There are other offenses under the [&helli...

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GST on Payment to Foreigner for Debenture interest

As discussed above Debentures covered under the definition of security and therefore it is not covered under goods. Therefore, GST will not get attract on interest paid on debentures....

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Company Law compliances of Private Limited Company

Private Limited Company and there Compliances as per Companies Act 2013 Section 2(68) of Companies Act, 2013 defines private companies. According to that, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them. This is the basic cr...

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December 2020