Follow Us :

Archive: December, 2019

Posts in December, 2019

How to Reply Show Cause Notice Received from ROC/RBI/MCA etc?

December 30, 2019 80166 Views 0 comment Print

Before knowing how to draft a reply to Show cause Notice, we need to understand what is a SHOW CAUSE NOTICE??? Show Cause Notice Certain Compliances are required to be made by Corporates as per Law. Non compliance of which might lead to receiving of Show Cause Notice as in asking why the compliance has […]

GST on Discounts

December 30, 2019 62037 Views 0 comment Print

In any tax law, tax has to be paid on the value which is subject to tax. In case of GST, valuation principles are relevant. (a) To arrive at the fair value of consideration, to take out the effect of all the factors which could lead to suppression of value. (b) To arrive at the […]

Implications of IBC Amendment Ordinance, 2019

December 30, 2019 4236 Views 0 comment Print

Union Government promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 on December 28, 2019. The Ordinance is effective at once. The Ordinance proposes to make amendments in the various provisions Insolvency and Bankruptcy Code, 2016; notably in Sections 5(12), 5(15), 7, 11, 14, 16(1), 21(2), 23(1), 29A, 227, 239, 240 in the Insolvency and Bankruptcy […]

New Year at last brings revised GST Audit Form

December 30, 2019 12936 Views 0 comment Print

After many delays the utility for GST Audit was released by GSTN. The utility for GSTR-9C was updated as per notification issued on 14th November, 2019.  The year 2017 is about to end while awaiting for the audit report form. Now in the year 2020, audit of the year 2017-18 and 2018-19 will be uploaded due to GSTN Portal and Audit forms technical issues.

Import Export Code Registration

December 30, 2019 3066 Views 0 comment Print

In the era of Globalization, now the customer market has been shifted from local territory/Country to worldwide market. Where the trader/Service provider has been given equal opportunity to expand its market worldwide. Now, the government is focusing to make India an Export Oriented Country instead of an Import Oriented approach. The Government of India is […]

Listed Companies to disclose defaults on payment of Interest /Loan

December 30, 2019 2070 Views 0 comment Print

SEBI’s Turn out on Defaults on Payment of Interest /Repayment of Principal Amount on Loans From Banks / Financial Institutions by Listed Entities Default occur when borrower is unable to make timely payments or avoid to make payments which ultimately lead to failure to meet the legal obligations (or conditions) of a loan. In this […]

Income Tax rate for companies for Assessment Year 2020-21

December 30, 2019 3822 Views 0 comment Print

Article contains Income Tax rate for domestic companies for Assessment Year 2020-21 , Conditions to opt section 115BAA of Income Tax Act, 1961, Conditions to opt section 115BAB of Income Tax Act, 1961, When 115BAB of Income Tax Act, 1961 shall not be allowed and Other amendments related to Corporate tax Rate for AY 2020-21. […]

Penalties, Late Fees And Interest Under GST-Overview 

December 30, 2019 87207 Views 6 comments Print

Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Article explains about Late Fee for delayed or non filing of GST Return, Interest for Late […]

Section 194M: Additional burden on Individuals/HUFs not liable to audit

December 30, 2019 9516 Views 2 comments Print

Now, a new section 194M has been inserted whereby Individuals/HUFs (not covered under section 194C, 194H & 194J) shall deduct TDS @5% at the time of payment or credit in the books to any resident for:

CRA-4 cost audit report due Date Extended to 29.02.2020

December 30, 2019 2397 Views 0 comment Print

Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2018-19, without payment of additional fee, has been further extended till 29.02.2020.

Search Post by Date
December 2019
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031