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Archive: 13 November 2019

Posts in 13 November 2019

Input tax Credit CBIC Circular explained

November 13, 2019 4398 Views 0 comment Print

There is a lot of confusion and the process of availing the restricted input tax credit in the industry. Keeping in view of all these, CBIC has issued Circular No. 123/42/2019– GST dated 11th Nov 2019 to clarify pointers regarding availing of the restricted input tax credit by the traders. Though the circular clarifies most of the points, there […]

How to Appoint Statutory Auditors in Case of Casual Vacancy Due To Resignation of Auditors

November 13, 2019 28083 Views 4 comments Print

Procedure For Appointment of Statutory Auditors In Case of Casual Vacancy Arise Due To Resignation of Auditors 1. Procedure: Resigning Auditor should do the following: => Intimate of his resignation to the Company within 30 days of resignation. => File an e-form ADT-3 along with detailed resignation letter with the Registrar of Company within 30 […]

Prohibition of Cash Loan/Deposit etc under Income Tax Act

November 13, 2019 9567 Views 1 comment Print

Section 269SS: Prohibition on Taking and Accepting Loan/Deposits etc.- No person shall take or accept from any other person, any loan or deposit or any specified sum, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account [or through such other electronic mode as may be prescribed].

Import policy of Iron & Steel- One time relaxation for obtaining SIMS registration

November 13, 2019 1974 Views 0 comment Print

Amendment in import policy of Iron & Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule — I (Import Policy). The SIMS will be effective from 21.11.2019, i.e. Bill of Entry on or after 21.11.2019 for items as listed in the Annex to this Notification shall be governed by SIMS.

Notification of ITC (HS), 2017 – Schedule-1 (Import Policy)

November 13, 2019 8949 Views 0 comment Print

Central Government hereby notifies the Exim codes introduced / deleted /split / merged / changed in description vide the Finance (No. 2) Act, 2019 dated 1st August, 2019 in the ITC (HS), 2017 as Annexed to this Notification.

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