"03 August 2020" Archive - Page 3

Compliance updater for the Month of August 2020

A. Compliance Requirement under Goods & Services Tax Act, (GST) 2017 Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the due d...

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Detailed write-up on Financial Statements

Financial statements are one of the most important written records which give a true and fair view of the state of affairs of the company and which shows the financial performance of the company. Before proceeding further, let’s first understand, what Financial Statements are: The term Financial Statement is defined under CA, 2013 under...

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Applicability of Various Sections of Companies Act, 2013 as amended by Companies (Amendment) Act, 2019

Applicability of Various Sections of Companies Act, 2013 as amended by Companies (Amendment) Act, 2019 Sr. No Section Compliances as per Companies act, 2013 Threshold limit for applicability 1 2(6) Associate Company In relation to another Company, means a company in which that other Company has a significant influence, but which is not a ...

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No Addition against Individual family Member, for Gold/ Silver Belonging to Entire Family

Shri Pankaj Ladha Vs DCIT (ITAT Jaipur)

The issue under consideration is whether the addition can be made against an individual member of the family, even if the that gold in possession belongs to entire family?...

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Procedural Guidelines for Proxy Advisors

Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/147 03/08/2020

Proxy Advisors shall formulate the voting recommendation policies and disclose the updated voting recommendation policies to its clients. Proxy Advisors shall ensure that the policies should be reviewed at least once annually. The voting recommendation policies shall also disclose the circumstances when not to provide a voting recommendat...

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Solvency certificate can be insisted for Grant or Renewal of Excise Licenses of Liquor

Gopinath Sahu Vs Amar Kumar Mohanty (Orissa High Court)

whether the Government of Orissa in its Department of Excise can insist on furnishing Bank Guarantee, instead of Solvency certificate, for grant or renewal of Excise Licenses in respect of liquor?...

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Issuance of Digital Surveyor and Loss Assessor Licenses

Ref. No. IRDAI/SUR/CIR/MISC/205/08/2020 03/08/2020

IRDAI surveyor department will issue the digitally signed license through BAP and the digitally signed SLA Licenses will be sent to the registered E-Mail ID of applicants....

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Reg. Dispatch of notice by listed companies for rights issue

General Circular No. 27/2020 03/08/2020

In case of listed companies, which comply with relevant circulars issued by SEBI, inability to dispatch the relevant notice to shareholders through registered post or speed post or courier would not be viewed as violation of section 62(2) of the Act for rights issues opening upto 31st December, 2020....

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Reg. Anti-dumping duty on imports of PVC Paste/Emulsion Resin

Case No. AD-MTR-09/2020 03/08/2020

Initiation of Mid-Term Review limited to change of name of producer/exporter from Korea RP regarding anti-dumping duty imposed on imports of ‘Poly Vinyl Chloride (PVC) Paste/Emulsion Resin’ originating in or exported from Korea RP, Taiwan, China PR, Malaysia, Thailand, Russia, and European Union. MINISTRY OF COMMERCE AND INDUS...

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Raksha Bandhan of Taxpayers!

GST department has taken enough care of their taxpayers by extending the due dates for GST compliances due to the underlying pandemic situation. The department has waived the late fees in several circumstances, for small taxpayers (i.e. they are happy like the small sisters who have got their rakhi gift) and reduced the late fees & intere...

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September 2021