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Archive: 27 June 2020

Posts in 27 June 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6501 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Blanket late fee exemption unfair to taxpayer filing GST return before 24.06.2020

June 27, 2020 1260 Views 0 comment Print

CBIC on Twitter on 26.06.2020 As part of COVID relief package announced in March 2020, a conditional waiver of late fee had been provided for all the taxpayers. Accordingly, for taxpayers having turnover more than Rs. 5 Cr., late fee waiver on GSTR 3B returns for the tax period February, March and April, 2020 was […]

No Section 194J TDS on IUC charges paid by Telecom Operators

June 27, 2020 7167 Views 0 comment Print

Whether interconnection usages charges (IUC) is in the nature of fees for technical services and whether the assessee is liable for TDS under section 194J of Income Tax Act, 1961?

Seize ₹ 3.83 Cr from Dynamatic CEO in Insider Trading case: SEBI

June 27, 2020 1161 Views 0 comment Print

Dr. Udayant Malhoutra Vs SEBI (Securities Appellate Tribunal, Mumbai) 1. The present appeal has been filed against an ex-parte order dated June 15, 2020 passed by the Whole Time Member (‘WTM’ for short) of Securities and Exchange Board of India (‘SEBI’ for short) directing the appellant to deposit a sum of Rs. 2,66,59,215/-plus interest till […]

Advisory to Users for Extending Validity of E-way bills

June 27, 2020 24051 Views 0 comment Print

Cancel the EWB: Supplier of goods can cancel the EWB, within 24 hours of its generation, subject to the condition that the EWB has not already been verified by the Proper Officer. Later on, same invoice number can be used for generation of another EWB. 

Section 194H TDS not applies on Bank Guarantee Commission

June 27, 2020 6468 Views 0 comment Print

The issue under consideration is whether TDS under section 194H is applicable from payment of bank guarantee commission to the bank?

GST Composition Scheme for Small Tax payers | Section 10

June 27, 2020 7482 Views 8 comments Print

Composition Scheme under section 10 of CGST Act, 2017- Great Initiative for Small Tax payers under GST Act Composition Scheme {Section 10 of CGST Act, 2017} -Composition Scheme is a simple and easy scheme under GST for taxpayers. -Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of […]

Classification of Enterprises as MSME W.E.F. 01.07.2020 

June 27, 2020 127695 Views 5 comments Print

It is important to note that the industry was waiting for definition change in MSME for quite a long time. As there was fear among MSME that if they grow in terms of number, they might lose the title of being MSME and lose benefits of Government provided for MSME.

Process of Filing Application under Insolvency & Bankruptcy Code, 2016

June 27, 2020 53556 Views 4 comments Print

On occurrence of default in repayment of financial debt of a company or LLP, the financial creditor either by itself or jointly with other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government can file an application for initiating corporate insolvency resolution process(CIRP) against the company or LLP (In IBC say, corporate debtor) before the Adjudicating Authority(NCLT).

Cashless Economy: Pros And Cons

June 27, 2020 10182 Views 2 comments Print

We come across a common saying ‘Cash is King,’ however idle cash can never generate any interest income, therefore channelizing the idle money into digital mode shall generate income. The Cashless economy is a system where majority of transactions take place by modes other than cash. These modes may be credit cards, debit cards, wallets or digital modes where flow of cash is non-existent or is bare minimum.

Board Report FAQs Under The Companies Act, 2013

June 27, 2020 6165 Views 0 comment Print

A Board report is a document produced by the board of directors under the requirements of The Companies Act, 2013, which details the state of the company and its compliance with a set of financial, accounting and corporate social responsibility standards. The requirement for directors’ reports arose out of a general move for greater transparency in corporate governance. It is useful for […]

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