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Archive: September, 2020

Posts in September, 2020

Co-op Bank Audit Report date extended upto 31.12.2020

September 29, 2020 1413 Views 0 comment Print

Reserve Bank of India, hereby declare that the provisions of section 31 read with clause (t) of section 56 of the said Act shall not apply to primary co-operative banks till 31st December, 2020.

SOP for Filing of FCGPR by a professional

September 29, 2020 9432 Views 6 comments Print

Standard Operating Procedure (SOP) for Filing of FCGPR by a professional FCGPR Stands for Foreign Contribution Gross Provisional Return. It is the form issued by RBI under Foreign Exchange Management Act, 1999 and it has to be filed for issue of capital instruments by an Indian Company to a preson resident outside India. When the […]

Udyam Registration of MSME – The new ray of hope for MSME

September 29, 2020 2193 Views 0 comment Print

This article will enlighten the procedure & requirements for Udyam Registration applicable for (new & re-registration for existing) MSME’s along with the revised definition of Classification of an enterprise as MSME.

GSTR 2B functionality: All You Need to Know

September 29, 2020 3519 Views 0 comment Print

GSTN has incorporated a new functionality on its portal by enabling GSTR 2B with effect from August 2020. GSTR 2B addresses the difficulties faced by the taxpayers in availment of Input Tax Credit and its reconciliation.

Basics of Mergers and Acquisitions

September 29, 2020 12252 Views 0 comment Print

Background In recent years Mergers & Acquisitions have been continuously happening in corporate space. Research suggests that global M&A activity has seen a tremendous growth in the last 10 years. In terms of overall value and number of deals, FY19 stood at almost $ 3500bn across 2000 transactions vis-a-vis FY09 with merely $ 1750bn across […]

TCS on Sales of Goods w.e.f. 1st October 2020

September 29, 2020 426213 Views 73 comments Print

After the introduction of GST, number of cases were noticed that some suppliers do not file the returns even though they have not opted for composition scheme or below threshold limit. They do not upload their transactions in the form of GSTR-1 and do not pay the tax thereon, full or partly and there was […]

Sukanya Samriddhi Yojana

September 29, 2020 5187 Views 0 comment Print

A Sukanya Samriddhi Account has a tenure of 21 years or until the girl child marries after the age of 18. Parents can now open up to two SSY accounts for girls and a third account can be opened in case of birth of twins/triplets.

Summary of Performance Audit on MEIS and SEIS

September 29, 2020 3630 Views 0 comment Print

This report contains significant results of the performance audit on Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS), which was conducted to seek an assurance on the success of facilitation measures introduced for simplifying the process of issuance of scrips and to examine effective linkage of rules and procedures of the Schemes in Directorate General of foreign Trade (DGFT) Electronic Data interchange (EDI) system.

Brief regarding Rules of Interpretation of statutes

September 29, 2020 610932 Views 6 comments Print

Introduction Enacted laws, especially the modern acts and rules, are drafted by legal experts and it could be expected that the language used will leave little room for interpretation or construction. But the experience of all those who have to bear and share the task of application of the law has been different. It is […]

UTI AMC IPO Review

September 29, 2020 2235 Views 0 comment Print

UTI Asset Management Company Limited (UTI) is set to launch its IPO on 29TH September, 2020, the IPO will be open for subscription to the public for 3 days i.e 29-09-2020 to 01-10-2020. UTI AMC is a registered AMC with SEBI, the oldest AMC erstwhile managed under the Unit Trust of India Act, it is […]

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