"22 August 2020" Archive

Aadhar Authentication Process Rolled In for GST Registration

Aadhaar Authenticatiobn process has been introduced, for the persons applying for GST registration as Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service Distributor (ISD)/ SEZ Developer/ SEZ Unit etc, in Form GST REG 01....

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Surplus doesn’t defeat the purpose of charitable activity!

This article aims to highlight the meaning of 'Purpose of charitable activity' in the context of surplus arising from the activity during the period. Whether surplus defeats the purpose of charitable activity??...

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Company Secretary (CS) Appointment under Companies Act 2013

A company secretary is a senior position in a private sector company or public sector organisation. The company secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are...

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Applicable ITR for Assessment Year 2020-21

It is advised to choose the correct ITR form in order to avoid further notice of defective return. Following forms below gives you insight to file correct ITR form as per Nature of Income and Status of person A.Y. 2020-21: ITR 1: (SAHAJ) 1. Resident Individual whose total income does not exceed 50 lakhs can […]...

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Events after Reporting period (Latest & Simplified version)

There may be a time gap between the balance sheet date (reporting date) and the date on which the financial statements are approved. During this gap of time, some events shall take place. Such events are called events after reporting period. For Example, a company prepares its balance sheet on 31/3/2021, but it is approved […]...

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MSME need NSIC- Single Point Registration Scheme

As we know that the Government is also largest buyer of a variety of goods & services. The Government Stores Purchase Programme was launched in 1955-56 to create opportunity in increasing the share of purchases from the small-scale sector, Further Single Point Registration Scheme (SPRS), a startup scheme launched in 2003 and managed b...

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Interest on delayed GST payment- Whether automatic or adjudication is called for -Saga continues

Interest on delayed GST payment- Whether automatic or adjudication is called for -Saga continues In my earlier article, case of M/s LC Infra Projects Pvt Ltd [ Writ Petition No. 28876 of 2019 (T-RES, Karnataka High court) ] was highlighted wherein department issued demand notice for recovery of interest and also served a letter for [&hell...

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Extended date of conducting AGMs for Financial year ended 31.03.2020

Extension for date of Holding Annual General Meeting under the Companies Act for Financial year ended 31.03.2020 with objective of Ease of doing Business & Minimum Government & Maximum Governance....

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Changes in GST Registration Process WEF 21st August 2020

CBIC has issued Notification No 62/2020 – Central Tax dated 20th August, 2020 modifying the process for grant of GST Registration. While making a GST application, an applicant may now get the same authenticated with his Aadhar Number. If the registration authority does not take any action (does not issue any SCN) within 3 days […...

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GST Updates | 22 August 2020

1. GST DEADLINES 1.1. Deadlines- 30th Sep 2020 -GST Audit and Annual return (GSTR-9 and GSTR-9C) due date 30th Sep 2020 for FY 18-19. For regular taxpayers whose Aggregate Turnover during the financial year is more than Rs 5 Crore. -GST Annual Return (GSTR-9) optional for taxpayers with Aggregate Turnover less than Rs 2 crore. […]...

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