"08 September 2020" Archive

Representation on hardship under GST Laws on account of pandemic

In continuation to the reliefs provided earlier under the GST law, we would like to make further suggestions for the changes to be made in GST law....

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ICAI allows MCS/ADV IT Training through Virtual Mode

ICAI decided that the students of May 2021 Final course, exam, can undergo MCS and Advanced IT Course through Virtual Mode can undergo the aforestated Courses through virtual mode to be conducted by the respective regional and branch offices of ICAI....

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ICAI issues FAQs on Practical Training

Whether the period of absence arising out of lockdown due to COVID -19 pandemic w.e.f 24th March, 2020 till 3rd May, 2020 shall be counted as leave or being on articleship for the students who are already registered and undergoing Practical Training as on 24th March, 2020....

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Levy and collection as per IGST Act, 2017

Introduction The Constitution mandates that no tax shall be levied or collected by a taxing Statute except by authority of law. While no one can be taxed by implication, a person can be subject to tax in terms of the charging section only. Power to levy any tax is derived from the Constitution of India. […]...

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AGM due date extended by 3 Months for all companies

Order No. ROC/P/Sec 96/2020/414 08/09/2020

AGM due date for the Financial Year ended 31.03.2020 has been extended by 3 Months for all companies A major relief has been granted by MCA by way of granting extension of 3 months for holding annual general meeting and hence Companies with AGM due date as 30.09.2020 can conduct their AGM by 31.12.2020. But […]...

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Service Tax Refund rejection based on Principles of Unjust Enrichment justified

The Madras Club Vs. Commissioner of G.S.T. & Central Excise (CESTAT Chennai)

The issue under consideration is regarding rejection of claim for refund of the service tax under Section 11B....

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Conversion of One Person Company (OPC) Into Private Company

What is the meaning of OPC and Pvt Ltd Co.? One Person Company means a Company which has only one person as its member. An OPC is effectively a company that has only one shareholder as its member. A private Limited Company is the form of the company where minimum two members are required and maximum […]...

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SEC 134 of Companies Act, 2013 – Directors Report Contents

SEC 134 – Approval by Directors – Directors Report- Financial Statement, Board’s Report, etc. (1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board by the chairperson of the company where he is authorised by the B...

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Request for Extension of Date of Filing of ITR & Audit Report

National Association of Tax Professionals (Haryana Chapter) submitted a representation to The Central Board of Direct Taxes requested for Extension of Date of Filling of ITR and Audit Report. From: National Association of Tax Professionals (Haryana – Chapter) SCO-409,First Floor Mugal Canal, Karnal Haryana 5th, September, 2020. To, The ...

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Representation on 7 GST issues & hardships faced by taxpayers

Representation on Goods and Service Tax (‘GST’) issues and hardships faced by taxpayers on certain issues- Returns should be allowed to be filed without payment of tax....

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July 2022