The custom duty on petrol and diesel are 2.5% plus 10% social welfare surcharge w.e.f. 02.02.2021. The amount being collected by Centre as excise duty/cess for each litre of petrol and diesel as on 01.07.2021 is Rs. 32.90/litre and Rs. 31.80/litre respectively which is effective from 02.02.2021.
Unlisted Public Company S.No Compliance Due Date 1 MBP-1 First Meeting of Board of Directors 2 DIR-8 First Meeting of Board of Directors 3 DIR-3 KYC Within 30 days from end of F.Y (30/09/2021 for F.Y 2020-21) 4 DPT-3 Within 90 days from end of F.Y (30/07/2021 for F.Y 2020-21) 5 BEN-2 Within period of […]
Limited Liability is one of the most important features of the corporate form of business organization. In a company, the members’ liability is limited only to the amount unpaid on their shares. Once the shares are fully paid up, the members have no further liability for any of the outstanding debts of the company. However, […]
Seeks to further amend notification No. 23/2016-Customs (ADD) dated 6th June, 2016 to extend the levy of Anti-Dumping duty on Polytetrafluoroethylene originating in or exported from Russia, up to and inclusive of 30th November, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 41/2021-Customs (ADD) | Dated: 31st July, 2021 G.S.R. 522(E).—Whereas, the […]
Each Accounting Standard offers wide variety of practical applications to the stakeholders in respect of full disclosure and transparency. Therefore, I hereby try to summarize various dimensions with regard to the Accounting Standard related with Ind As-23 : Borrowing Costs (By incorporating Changes as per Companies (Indian Accounting Standards) Amendments Rules 2021) . 1. The relevant Accounting Standards […]
Auto sector contributes 6.40% to the GDP of India and provides employment to 19 million people directly or indirectly hence is a very important sector. By 2026 it is expected to be third largest in terms of volume, at present it is the largest tractor manufacturer second largest bus manufacturer and third largest heavy trucks […]
SEBI Updates: Bankers to an Issue, Infrastructure Investment Trusts & Real Estate Investment Trusts SEBI (Bankers to an Issue) (Amendment) Regulations, 2021 SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2021 SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2021 *SEBI Notification No. SEBI/LAD-NRO/GN/2021/26, 27 & 28 Dtd. 30th July, 2021 The SEBI has notified three sets of amendment […]
GST Audit scrapped section 35(5) from GST Act 2017 OMITTED /New Provisions for Section 44 inserted Under GST, the compliance obligations under section 35(5) from GST Act has been removed to allow self-certification. Section 35 of the Central Goods and Services Tax Act Sub Section (5) shall be omitted. Before removal of Section 35(5) it […]
Certain notifications have been issued by the CBIC yesterday relating to filing of Annual Return in FORM GSTR-9 and Reconciliation Statement in FORM GSTR-9C. A brief summary of them all is as below: Notification No. 29/2021 – Central Tax The provisions of Sec 110 & Sec 111 of the Finance Act, 2021 have been notified […]
Any Enterprise shall be classified as Micro,Small or medium if the following criteria Investments in plant and Machinery up to One Crore and turnover up to 5 crores is Micro Up to 10 Crores is and turnover is up to 50 crores is Small Up to 50 Crores is and turnover is up to 250 […]
