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Archive: 06 November 2019

Posts in 06 November 2019

Course on Mastering GST Sections Effortlessly with Memory Techniques!

November 28, 2024 3744 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Cabinet approves Special Window for funding of stalled housing projects

November 6, 2019 420 Views 0 comment Print

Cabinet approves Special Window for funding of stalled Affordable and Middle-Income housing projects The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the establishment of a ‘Special Window’ fund to provide priority debt financing for the completion of stalled housing projects that are in the Affordable and Middle-Income Housing sector. For the […]

Delhi Court convicts a Director for holding Directorship of More than 20 Companies

November 6, 2019 4449 Views 0 comment Print

Under the Rule 16 of The Companies (Appointment and Qualification of Directors) Rules 2014, the accused has the responsibility being Director to forward to the Registrar copy of resignation along with the applicable fees in Form DIR-11 within 30 days of such resignation.

Cabinet approves amendment of DTAA between India and Brazil

November 6, 2019 1314 Views 0 comment Print

Cabinet approves protocol amending the Convention between India and Brazil for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income he Union Cabinet Chaired by the Prime Minister Shri Narendra Modi approved the signing of the Protocol amending the Convention between the Government of the Republic of India […]

Legal expense for complain against directors in individual capacity not allowable

November 6, 2019 1476 Views 0 comment Print

Legal expenses incurred to protect the Directors of the company in respect of the complaints filed against them in their individual capacity will not allowed under section 37 as business expenses.

Antenna for base station classifiable under CTSH 85177090 as parts

November 6, 2019 4842 Views 0 comment Print

Commissioner of Customs Vs Reliance JioInfocom Ltd (CESTAT Mumbai) In the present case, the manufacturer of Antenna as well as the chartered engineer’s certificate, in clear terms clarified that the Antenna in question transmits and receives only signals and not performing any other function like conversion or regeneration of voice, images or other data signals […]

Accounting of Compensatory Absences (Leave Encashment Obligations)

November 6, 2019 34620 Views 0 comment Print

This note is an attempt in the matter of accounting provisions to be made in financial reporting of enterprises for Compensatory Absences (Leave Encashment Obligations) in compliance of Accounting Standard AS -15 (Revised 2005) issued by Accounting Standard Board of the Institute of Chartered Accountant of India.

Methodology for computation of provisional input tax credit (20%) under rule 36 of GST

November 6, 2019 6348 Views 3 comments Print

Whether the new rules (imposing the restriction of 20% on input tax credit (‘ITC’)) could be implemented without notifying Section 43(A) of the CGST Act? Whether amendment in Rule 36 of the CGST Rules, 2017 could be brought about, leaving the recipient at the whims of the supplier, thereby violating a person of its substantive right and overriding Article 14 and Article 19 of the Constitution?

Goods & Service Tax Input Tax Credit

November 6, 2019 3162 Views 1 comment Print

Any registered person can avail credit of Input tax paid on the inward supply of goods or services or both which is used or intended to be used in the course or furtherance of business. He is in possession of tax invoice or any other specified tax paying document.

Nitty Gritty of Online Proficiency Test for Independent Director

November 6, 2019 1737 Views 0 comment Print

Presently, every listed Company and other prescribed unlisted Public Company required to appoint independent Director are not obliged to pick them from any data bank. It can appoint any person satisfying the pre-requisites under the Companies Act, 2013 (‘the Act’) and the Listing Regulations as applicable mainly having no relation to the promoters/directors and having […]

Annual GST return made non-mandatory for small business…Should we file or not?

November 6, 2019 62079 Views 11 comments Print

G.S.T. council after its 37th Meeting recommended that the Annual Return (GSTR 9 and 9A) under the G.S.T. should be made optional considering the fact, it is a new regime and there are problems faced by the tax payers in filling it for those registered persons whose aggregate turnover in a financial year does not […]

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