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One of the notifications issued recently talks about the input tax credit to be availed by taxpayers on a provisional basis up to 20% of the eligible credit available in the GSTR – 2A. This is notified wide Notification No 49/2019 – Central Tax, dated 9th Oct 2019. What does it mean? It means that […]
CBIC notifies Central Goods and Services Tax (Sixth Amendment) Rules, 2019 vide Notification No. 49/2019 – Central Tax dated 09-10-2019 and made some important changes as given below- 1. ITC in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers in GSTR-1, shall not exceed 20% of […]
Normally, gathering of two or more persons means Meeting. If we stick to our topic, the companies running their business throughout the year by the management of the company, by the fund i.e. capital provided by members of the company initially. Therefore it becomes a right of members to be regularly updated about the working […]
Krishna, Government has issued new notification on 09/10/2019, restricting ITC to maximum 20% excess of ITC as appearing in GSTR-2A. So, what is it?
Commercialisation of Intellectual Property Rights : IP Assignment and IP Licensing Commercialisation may be understood as a process of organisation of something in way to generate profit or managing a product or service or right or anything for financial gain. Assignment agreements are important since they allow the IP rights holder to transfer the IP […]
Foreign Contribution Individuals, Associations and Non-Profit Companies intending to receive the funding in India from foreign source are needed to comply with and are subject to the regulations made by government in this regard. Earlier Foreign Contribution (Regulation) Act 1976 (FCRA, 1976) was in force to regulate and facilitate the acceptance and utilization of foreign […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications under GST Laws to implement the recommendation of the 37th GST Council held on 20th September, 2019. More important being amendment to CGST Rules, 2019 which seeks to amend conditions to avail ITC. The summary of notifications have been given below for easy […]
WHEN TO FILE IEPF-5? The person, in respect of whom any amount is transferred to the IEPF, can make an application by filing Form IEPF-5 with the MCA Portal that shall further process the application. IEPF authority may seek necessary clarifications from the concerned company/bank. Any person, whose shares, unclaimed dividend, matured deposits, matured debentures, […]
DELAYED PAYMENTS TO MICRO AND SMALL ENTERPRISES [Section – 15] 1. Where any supplier [Being MICRO OR SMALL ENTERPRISE], supplies any goods or any services to any buyer, – IF There is agreement in writing between supplier and buyer regarding payment Buyer shall make payment thereof on or before the date agreed between buyer and […]
Swarupama Chaturvedi* ‘…happy to note that in the working of the Code, the flow of financial resource to the commercial sector in India has increased exponentially as a result of financial debts being repaid.’ Justice R. F. Nariman1 Hon’ble Supreme Court of India hailed the working of the Insolvency and Bankruptcy Code, 2016 (Code) in […]
