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Archive: 19 January 2020

Posts in 19 January 2020

Reg. Detention of vehicles pertained to Parcel/ Transporting / Courier Agencies having GST registration

January 19, 2020 1725 Views 0 comment Print

Section 129 mandates joint and several liability on the Consignee, Consignor, Transporter and the Person in Charge of the Vehicle to carry the requisite documents as per the GST Act. Sub-section (1) of Section 129 provides that all such goods and conveyance used as a means of transport for carrying the goods, while they are in transit, in contravention of the provisions of the Act or Rules made thereunder, is liable for detention and seizure.

Events leading to Closure of Company under Companies Act 2013

January 19, 2020 3015 Views 0 comment Print

In India, out of the total 18,94,146 registered companies, 6,83,317 have closed down as on May 2019 as per report released by Ministry of Corporate Affairs. A company when incorporated had a vision to run its business and to contribute to Indian Society. All the Companies in India as we already know are regulated by […]

Job Work and Manufacturing services under GST

January 19, 2020 106317 Views 26 comments Print

Article discuss GST Provisions applicable to Job Work and Manufacturing services. Dear Colleagues before going to subject we have to refer meaning of the following words under GST Scenario. 1. Meaning of Job Work and Job Worker : As per Section 2(68) of the CGST Act,2017, the meaning of word “ Job Work ,that under […]

Sole Proprietorship- What we must know

January 19, 2020 11247 Views 1 comment Print

Sole Proprietorship Business is a A business that is owned and managed by a single person. There is no such thing as registration with any statutory Law like Company Law / LLP Law / Partnership Act etc.; Proprietorships are recognized by other registrations, such as a Service Tax registration or GST or MSME or  Shop […]

Advance Management Accounting- Study Strategy for CA Students

January 19, 2020 2847 Views 0 comment Print

CA Final Results have been declared on 16.01.2020 and like all attempts only few got through and rest have got another chance to study the subject again. Since last three days I have received over 350 messages via E-mail and WhatsApp and the common issue with most of Friends is Paper Number 5 of CA […]

Contractual employees entitled to Employee Provident Fund benefit: SC

January 19, 2020 103074 Views 1 comment Print

Pawan Hans Limited & Ors. Vs Aviation Karmachari Sanghatana (Supreme Court) Members of the Respondent ­Union have been in continuous employment with the Company for long periods of time. They have been receiving wages/salary directly from the Company without the involvement of any contractor since the date of their engagement. The work being of a […]

GSTR-9 Annual Return- Types, due date, Who should file, Late fees

January 19, 2020 18657 Views 6 comments Print

GSTR-9 is an annual return to be filed yearly by taxpayers registered under the GST Act. Form GSTR-9 is required to be filed at the GSTIN level i.e. for each registration. It consists of details regarding the outward and inward supplies made/received during the relevant previous year, ITC availed, tax paid and HSN codes. It […]

Analysis of Income Tax Assessment of demonetisation cases

January 19, 2020 44880 Views 7 comments Print

In its ongoing Operation Clean Money drive (OCM), Various cases were selected for scrutiny assessment for AY 2017-18 where large amount of CASH was deposited during demonetisation period i.e. 9th November 2016 to 31st December 2016. It is observed that while passing order for scrutiny assessment for cash deposited during demonetisation period, Various Assessing officer […]

Important points to be kept in mind while Filing E-Forms on MCA Portal

January 19, 2020 1494 Views 0 comment Print

Important points to be kept in mind while Filing E-Forms on MCA Portal 1. Select correct category to download e-Form for respective services, Like Form MGT-7 For Annual Return. 2. Ensure that latest version of the e-forms has been downloaded from the MCA Website. 3. Before filling of e-forms, the professional should go through the […]

Tax and Law Compliance Calendar for Year 2020

January 19, 2020 1053 Views 0 comment Print

Compliance Calendar for Year 2020 As we know India as fastest growing economy and as economy of our country is growing day by day, the compliance of business is increasing day by day. Every some or other day new compliance are added to get more and more transparency in business processes. We understand the burden […]

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