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Archive: 19 April 2020

Posts in 19 April 2020

Classify Services rendered by practising CAs as Essential Services: WIRC writes Maharashtra CM

April 19, 2020 8982 Views 0 comment Print

It will be desirable that the services rendered by the practising CAs be classified as ‘Essential Services’ under the guidelines expected to be issued by the Home Ministry for granting exemption or relaxation in the matter of operation of offices and staff attendance in the offices of the practising CAs, of course, subject to adherence to guidelines/instructions/restrictions issued and applicable to other providers of other essential services in this respect.

Supply of non-essential goods by E-commerce companies prohibited

April 19, 2020 528 Views 0 comment Print

It has been clarified by Ministry of Home Affairs that supply of non-essential goods by e-commerce companies will remain prohibited during lockdown. Text of the relevant MHA Order is as follows:- No. 40-3/2020-DM-I(A) Government of India Ministry of Home Affairs North Block, New Delhi-110001 Dated 19th April, 2020 ORDER In continuation of Ministry of Home […]

Life in the era of COVID-19- PM Share his thoughts

April 19, 2020 498 Views 0 comment Print

The Prime Minister, Shri Narendra Modi has shared few thoughts on Linkedin, which would interest youngsters and professionals. Following is the text of Prime Minister, Shri Narendra Modi’s thoughts which was shared on Linkedin. ‘It has been a topsy-turvy start to the third decade of this century. COVID-19 has brought with it many disruptions. Coronavirus […]

CBDT revising Income Tax return forms due to Covid-19

April 19, 2020 7434 Views 1 comment Print

In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) which shall be notified by the end of this month.

Can A Liquidator & RP initiate CIRP against other Corporate Debtor

April 19, 2020 8355 Views 2 comments Print

Ashutosh Gupta and Gaurav Rana MOOT QUESTION VI, CAN A LIQUIDATOR AND RP INITIATE CIRP AGAINST OTHER CORPORATE DEBTOR. Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (“Ordinance”) promulgated on 28th December, 2020, has not only brought, changes in respect to home buyers but also clarity in respect to powers and rights as entrusted upon the […]

Environment, Health and Safety Assessment (Environmental Audit)

April 19, 2020 4089 Views 0 comment Print

Environment, Health and Safety Assessment (EHS Assessment) in general, called and known as ‘Environmental Audit’.  Environment safety has been a major concern in previous says giving rise to need of environmental audit in all the organizations. Environmental audit is one of the areas of environmental awareness. In this article, through various slides in succeeding pages, […]

Caution: GSTR-3B Due Date Not Extended

April 19, 2020 6852 Views 0 comment Print

Confused with various dates of GST Returns???? In this post we will be covering the concept based on which various dates have been derived for different returns – by registered taxpayer – who is required to file return (GSTR-3B) under section 39(1) of CGST Act 2017 Ques: In this crisis of Covid-19 it is not […]

Formation of Section 8 Company

April 19, 2020 3036 Views 1 comment Print

FORMATION OF SECTION 8 COMPANY ♣  When a person or an association of person is desirous of forming a Limited Company with any of the below objectives/intentions: (a) promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; (b) apply its profits, if any, or […]

Annual Compliances for Section 8 Company

April 19, 2020 20031 Views 1 comment Print

Annual Compliances for Section 8 Company ♣ Section 8 Company is the Company, which– a. has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; b. intends to apply its profits, if any, or other income in promoting its objects,  […]

Ineligible Input Tax (Blocked) Credit under GST

April 19, 2020 239031 Views 29 comments Print

1. A free flow of input tax credit is a backbone of GST Law for eliminating cascading effects of taxes. However , section 17(5) of the CGST Act,2017 specifies certain Goods and Services as Blocked Credit . It means , a taxable person is not eligible to take Input Tax Credit ( ITC) on the […]

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