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Archive: 04 May 2021

Posts in 04 May 2021

ICSI postpones CS June 2021 Exams

May 4, 2021 4947 Views 0 comment Print

ICSI with a view to protect the interests of the candidates, their well-being and safety in view of Covid-19 Pandemic situation, has decided that the Examinations for Foundation Programme, Executive Programme (Old and New Syllabus) and Professional Programme (Old and New Syllabus) scheduled to be held from 1st June, 2021 to 10th June, 2021 stand postponed.

Relaxations In Certain GST Compliances

May 4, 2021 10683 Views 1 comment Print

A. GSTR 3B Reduction in rate of interest and waiver of late fees – March 21 & April 21 Vide Notification No. 08/2021 – CT dt. 01.05.2021 as well as Notification No. 01/2021 – IT read with Notification No. 09/2021 – CT dt. 01.05.2021, the relaxations are as under for the given tax period: Taxpayer […]

Threefold increase in production of Remdesivir in the country

May 4, 2021 330 Views 0 comment Print

The production of remdesivir is being increased at a rapid pace in the country.  In just a few days, India has achieved 3 times the production capacity of Remedesvir and will soon be able to meet the growing demand. This was announced by the  Minister of State for Chemical and Fertilizers Shri Mansukh Mandaviya today.

‘Ayush-64’ for treating mild to moderate cases of Covid 19- FAQs

May 4, 2021 1143 Views 0 comment Print

Described by experts as a ray of hope in the time of the pandemic, the polyherbal drug AYUSH- 64 which was originally developed in 1980 for treatment of malaria, has now been repurposed for Covid 19. 

Taxability of Share Issue at Premium

May 4, 2021 60807 Views 9 comments Print

In this write up, we are going to discuss the taxability, under Income Tax Law, where a private limited company issues share at a price which is more than its Face Value. Section 56(2)(Viib) of Income Tax Act, 1961, stipulates as follows:- where a company, not being a company in which the public are substantially […]

FAQ’s on Relaxations of time of filling of CHARGE form

May 4, 2021 5841 Views 1 comment Print

FAQ’s on Relaxations of time of filling of CHARGE form {Creation & Modification of Charge} SHORT SUMMARY: Quick Question: 1. If Charge is created/ modified on or before December 02, 2020. Company fails to file such form. Whether such Company can take benefit of General Circular No. 07/2021 dated 03rd May, 2021? As per applicability […]

Relaxation in GST under Covid-19

May 4, 2021 10059 Views 0 comment Print

RELAXATION IN GST COMPLIANCE’S UNDER-COVID-19 (NOTIFICATION NO. 08/2021 and 09/2021- CENTRAL TAX DATED 01.05.2021) INTEREST RATE RELIEF Turnover Tax period Due Date Interest Rate Relief Late Fee Relief More than 5cr March,21 April,21 20.04.2021 20.05.2021 First 15 Days-9% After 15 Days-18% 15 days from due date of return- No Late Fee Up to 5cr Opting […]

All About Form MBP-1 Notice of interest by director

May 4, 2021 241170 Views 4 comments Print

Section 184 (1) of the Companies Act 2013 requires that every director to make disclosure of his interest or concern in any company or firm or body corporate or any association of individuals at the first Board meeting or when there is any change in the interest of Directors. The provisions are founded on the […]

Disclosure Requirements in IFRS Standards – A Pilot Approach

May 4, 2021 576 Views 0 comment Print

Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents (such as Discussion Paper (DP), Exposure Draft (ED) etc) seeking public comments from across the globe.

Value declaration not sought by customs in respect of Covid-19 relief Material

May 4, 2021 666 Views 0 comment Print

Union Government Did Not Waste Time in Effective Allocation and Distribution of COVID Pandemic Relief material Coordination Cell in Health Ministry started working from 26th April 2021, for receipt and coordination of effective allocation of foreign COVID relief and support material Effective Allocation by Government of India of COVID -19 supplies received from the Global […]

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