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Archive: 24 November 2020

Posts in 24 November 2020

Free Webinar: Invoice Management System from Oct 1, 2024 – Register Now

November 22, 2024 3234 Views 0 comment Print

Learn to manage GST invoices easily with the new IMS. Join our webinar on 24th Nov to improve ITC claims and error reduction. Register now!

Incorporation of Non Profit Company: Formation of Companies with Charitable Objects

November 24, 2020 2820 Views 0 comment Print

INTRODUCTION To provide an option to the person or association of person with a legal entity to carry charitable objects the government of India came-up with the section 25 in the Companies Act, 1956 and subsequently replaced by the Section 8 of the Companies Act, 2013. Section 8 discusses the incorporation of the company with […]

Reversal of ITC after legal availment under GST

November 24, 2020 24819 Views 6 comments Print

In the forth coming article we will discuss the issue that the right to avail the input tax credit is to be seen as on the date of the credit availment and not otherwise .The main intent of the this article is that whether ITC can be called upon to pay back by revenue officers […]

Lack of legally trained mind, manifest arbitrariness in revocation of GST registration: HC

November 24, 2020 1908 Views 0 comment Print

Read about Ansari Construction vs Additional Commissioner GST case. Unnecessary harassment, incorrect show cause notice, and arbitrary decisions highlighted. Full court order

SEBI relaxes requirement of Testing of software related to Trading

November 24, 2020 1029 Views 0 comment Print

It has been decided that requirement of mandatory mock trading sessions to facilitate testing of new software or existing software that has undergone any change of functionality shall be optional if a Stock Exchange provides suitable simulated test environment to test new software or existing software that has undergone any change of functionality and ensures the following:

No TP adjustment for Overdue Receivables which already been considered in working capital adjustment

November 24, 2020 1155 Views 0 comment Print

The issue under consideration is whether overdue receivables from AEs is considered as an international transaction? ITAT direct the learned transfer pricing officer to delete the addition on account of interest on overdue receivable from associated enterprise. Accordingly ground of the appeal is allowed.

Explanations of Recent GST Notification No. 81 to 88/2020-Central Tax

November 24, 2020 15984 Views 3 comments Print

New Notifications in GST (Notification No. 81/2020 to Notification No. 88/2020-Central Taxes) TABLE OF CONTENTS: Notification No. Content 81/2020 Regarding Amendment in Sec. 39 82/2020 Regarding New Rules 83/2020 Due Dates of GSTR -1 84/2020 Options for GSTR – 1 85/2020 Procedure for GSTR – 3B 86/2020 Regarding an earlier notification 87/2020 Regarding Form ITC […]

FAQ on refund of Excess /Incorrect ROC Fees paid

November 24, 2020 6277 Views 0 comment Print

The user is required to make various payments to avail MCA21 services. A number of instances have been observed where the users make multiple payments or incorrect payment or excess payment while using these services. In order to allow the stakeholders to claim refund of such payments, refund process has been introduced by MCA. To claim refund you are required to file the ‘Refund Form’ available on MCA21 portal for claiming refund.

How to Start a New Business in India– Necessary Steps to Take Care

November 24, 2020 3399 Views 0 comment Print

In the current era of competitive market, every person wants to start its own business but due to inadequate knowledge and experience their business fails in starting 1-2 years. Either they fail due to cash crunch situation, wrong marketing strategies or due to non-compliance of law. During our day to day practice many youngsters contact […]

IBBI warns PVAI-VPO to be extremely careful in recommending applications for registration as valuers

November 24, 2020 2433 Views 1 comment Print

In the present case, PVAI-VPO is an RVO recognized under sub-rule (5) of rule 13 of the Valuer Rules. It allowed ineligible candidates to be enrolled as members of its organization even though they did not have proper credentials as per the eligibility norms, qualification and forwarded the applications of candidates who did not meet […]

Undertaking assignment as IRP after 31.12.2019 without holding a valid AFA

November 24, 2020 597 Views 0 comment Print

In view of the fact that ICSI Institute of Insolvency Professionals has already given warning to Mr. Nitesh Kumar Sinha for undertaking assignment as Interim Resolution Professional after 31.12.2019 without holding a valid AFA in the matter of Terrence Alloys Private Limited, the DC, in exercise of the powers conferred under Regulation 11 of the […]

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