"29 May 2021" Archive

Detailed Analysis of outcome of 43rd GST Council Meeting

This edition brings to apprise with the decisions taken in the 43rd GST Council Meeting held via video conferencing on 28th May, 2021 after a gap of 7 months. The meeting is attended by the 5 new debut entries of 4 new Finance Ministers of Assam, Bihar (Shri Tarkishor Prasad succeeding Shri Sushil Modi), Kerala (Shri KN Balagopal replacin...

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Declaration Form for not imposing TDS rate under section 206AB/206CCA

As the Finance Act, 2021 comes into force with Presidential assent on 28th March 2021. In this Act, two new sections have been introduced with effect from 01st July 2021 for non-filers of Income Tax Return. As per these sections (206AB & 206CCA), the rate of TDS/TCS shall be at the double of the normal […]...

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Comparison of Benefits of Incorporating a Company in India and in USA

Benefits of incorporating a Company in the USA:  1. Every state in the US is governed by its state laws and regulations which vastly differ from one another. 2. Delaware, Wyoming, and Nevada, in particular, provide the most complimenting business and taxation laws which makes it mainstream for companies to incorporate. Benefits of incorp...

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GST Implication & Intricacies – Stock Transfer to a Branch Outside India

This article is penned to give an insight about the most common query among the GST dealer and who are operating through E-Market place in the area of branch transfer (Transfer of stock made to a branch which is outside India). Typically, this scenario arises when you have to keep your stock in a warehouse […]...

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Provisions relating to Removal/Resignation of Auditor of Companies

Provisions relating to Removal/Resignation of Auditor under Section 140 of Companies Act, 2013 read with Companies (Audit and Auditors) Rules, 2014 S. No. Relevant provision Particulars Compliances Form required Due date of filing form Attachments required Remarks 1 Section 140(1) of Companies Act, 2013 and rule 7 of the Companies (Audit ...

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Highlights of recommendations of 43rd meeting of GST Council

Highlights of recommendations of 43rd meeting of GST Council held on May 28, 2021 The 43rd meeting of GST Council held under the Chairmanship of Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman through video conferencing on May 28, 2021. The meeting was also attended by Union Minister of State for Finance & [&...

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Related Party Transactions | Section 188 | Company Law

According to Section 2(76) of The Companies Act, 2013, related party”, with reference to the company means: (i) a director or his relatives (ii) a Key Managerial personnel or his relative (iii) a firm, in which a director, manager or his relative is a partner (iv) a private company in which a director or manager […]...

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Delhi Government extends Lokdown till 07.06.2021 (Read Order)

No. F.2/07/2020/pt file-III/431 29/05/2021

Delhi Government directs to extend the curfew, on movement of individuals (except for essential activities/ services as already stipulated in DDMA Order No. 381 dated 19.04.2021, Order No. 397 dated 25.04.2021 and Order No. 415 dated 09.05.2021) in the territory of NCT of Delhi, till 05:00 am on 07.06.2021 (Monday) or further orders which...

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Anti-dumping duty on Methyl Acetoacetate import from China

Notification No. 31/2021-Customs (ADD) [G.S.R. 350(E).] 29/05/2021

CBIC Seeks to impose anti-dumping duty on Methyl Acetoacetate originating in or exported from China PR for a further period of five years vide Notification No. 31/2021-Customs (ADD) Dated 29th May, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 31/2021-Customs (ADD) New Delhi, the 29th May, 2021 G.S....

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Gist of Due dates of GST Compliances -43rd Gst Council meeting

43rd Gst Council Meeting on 28.05.2021 GIST OF DUE DATES OF GST COMPLIANCES For Turnover AATO upto Rs. 5 crores but filing monthly 3Bs Tax period Original Due Date Upto Next 15 days Upto Next 45 days After 60 days of original due date March 2021 QRMP Jan-Mar 2021 20.04.2021 05.05.2021 19.06.2021 — Interest Nil Nil […]...

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July 2021