"15 March 2021" Archive

How to get a professional loan for chartered accountants to finance your needs

In today’s economic climate, it is common for chartered accountants to venture into a private practice. This is among the best ways to establish yourself in any market and grow as a professional. However, running a business is an expensive undertaking, no matter if you’re located in metropolitan cities or not. Whether you’re looking...

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GST Checklist Before Finalisation of Books of Accounts

A lot of legal considerations have to be kept in kind before finalizing books of accounts for the auditor to give a reasonable assurance that the financial statements of the client give a true and fair view. One of such legal considerations involve compliance with GST Act. In this article we shall learn the GST considerations with resp...

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UGC to Treat CA/CS/ICWA qualification as equivalent to PG Degree

Notification No. D.O.No.9-35/2016 (CPP-II) 01/01/1970

University Grants Commission Bahadur Shah Zafar Marg, New Delhi-110002 off: 011-23238865 E-mail: [email protected] Dr. Surender Singh Joint Secretary D.O.No.9-35/2016 (CPP-II) 15 March, 2021 Sub: To consider CA/CS/ICWA qualification equivalent to PG Degree for appearing in UGC-Net Sir/ Madam, UGC had received requests from the Institute o...

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Important GST Changes Applicable from 01-04-2021

Important Changes with effect from 01-04-2021 in GST 1. E-Invoicing A. A notified class of registered persons must prepare invoice by uploading specified particulars of the invoice on the Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN) The invoice copy containing inter alia, the IRN with QR Code issued by th...

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No GST on exempted services of transmission or distribution of electricity

The Hon’ble Rajasthan High Court in Jodhpur Vidyut Vitran Nigam Ltd. v. UOI & ors. [D.B. Civil Writ Petition No. 9397/2018, decided on February 5, 2021] quashed Para 4(1) of Circular No. 34/8/2018-GST dated March 1, 2018 (Impugned Circular) which clarifies that following activities provided by DISCOMS to consumers are taxable: i. Ap...

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100 percent of estimated GST compensation shortfall released

100 percent of the estimated GST compensation shortfall of Rs.1.10 Lakh crore released. 20th Instalment of Rs. 4,104 crore released to the States on Monday, 15th March, 2021. The Ministry of Finance, Department of Expenditure has released the final weekly instalment of Rs.4,104 crore to the States to meet the GST compensation shortfall. O...

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Tax relief for industries affected by Coronavirus

In view of the challenges faced by taxpayers due to the outbreak of Novel Corona Virus (COVID-19), the Government of India has taken several taxation measures to extend tax exemptions received by the industries....

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Posted Under: Finance |

Section 135 – Corporate Social Responsibity

APPLICABILITY CORPORATE SOCIAL RESPONSIBILITY As per Section 135 (1) following companies in immediately preceding Financial Year: > Having net-worth of Rs. 500 Crores or; > Having Turnover of Rs. 1000 Crores or; > Having net profit of Rs. 5 Crores shall constitute a Corporate Social Responsibility Committee of the Board consistin...

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Lockdown Guidelines amenmded in Maharashtra on 15.03.2021

Order No: DMU/2020/CR. 92/Dish-1 15/03/2021

a. All Cinema Halls (Single Screens and Multiplexes)/ hotels/ restaurants to operate on 50% capacity with following restrictions: i. No entry will be allowed without proper wearing of Masks. ii. Temperature measuring devices to be used to ensure no one with fever gets an entry....

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Steps taken by Government to use AI for education transformation

Artificial Intelligence has already been applied to education primarily in some tools that help develop skills and testing systems. Artificial Intelligence can drive efficiency, personalization and streamline administrative tasks to allow teachers the time and freedom to provide understanding and adaptability. ...

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