"17 September 2021" Archive

30 Suggestions For Simplification of GST Law, Procedures & Returns

Suggestions to provide ease of business to dealers addressing burning issues in law & to make GST actually ‘simple’ so that compliance level can be increased. These SUGGESTIONS can assure lot of relaxation to businessmen against in-genuine hardships. >Regarding Seamless ITC 1. REMOVE ITC restrictions of rule 36(4) and p...

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Recommendations of 45th Meeting of GST Council, Lucknow

(Release ID: 1755925) 17/09/2021

The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure:...

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Tips to Avoid Emotional Investing

Investing is all about informed decisions that are based on your market's knowledge and insights from analytics. Market sentiments are influential in deciding the course of the market, but you should steer clear of emotions while investing in equities or even in SIP investments....

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GST Refund procedure and limitations

GST refund can be claimed under various grounds by the exporters/taxpayers on ground of excess amount if they have paid more than the GST liability. Refund can be claimed on below mentioned grounds: Refund of unutilized input tax credit (ITC) on account of exports without payment of tax; Refund of tax paid on export of […]...

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Patna HC quashes GST demand as no opportunity of hearing was afforded to petitioner

Shashikant Singh Vs Union of India (Patna High Court)

Respondent passed an order without affording adequate opportunity of hearing to the petitioner and recovered the demand amount after attachment of bank account of the petitioner....

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Rule: 9A Extension of Reservation of Name in Certain Cases

Ministry of Corporate Affairs has introduced the Rule 9A ‘Extension of Reservation of Name in certain cases‘ on 24th December, 2020 vide Companies (Incorporation) Third Amendment Rules, 2020. This Rule provides the extension in the time limit for reservation of name approved by Central Registration Centre (CRC). Before discuss...

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Role of Regulators and The Future of Audit

NFRA is a creation of Sec 132 of the Companies Act, 2013. Though the section was enacted with the rest of the Act in 2013, it was finally notified only in 2018, after the PNB scam came to light. NFRA’s functions are laid down by sub section (2) of Sec 132 as covering:...

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Last Date for filing MEIS / SEIS Application

Many of us are awaiting for DGFT online portal to start with online application filing of MEIS, SEIS and RoSL / RoSCTL for the exports made till December 2020. In the meantime, the Commerce Ministry has issued Notification No. 26/2015-2020 dated 16 September 2021 to notify Last date for submitting applications for scrip based FTP scheme...

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Advance GST Rulings of Kerala State from July 2017 to July 2021

Author compiled Advance Rulings of KERALA State from July 2017 to July 2021. Author compiled such rulings as per upload by Kerala State GST authority in their State GST Site. Kerala State Advance Rulings Authority have uploaded rulings year wise as below: 2017: NIL, 2018: 22 Rulings, 2019: 36 Rulings, 2020: 17 Rulings and 2021: […]...

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Tribunal constituted to decide ICAI/ICSI/CMA 2021 election disputes

Notification No. G.S.R. 642(E), G.S.R. 643(E), G.S.R. 644(E) 17/09/2021

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th September, 2021 G.S.R. 642(E). —In exercise of the powers conferred by sub-section (1) of section 10B of the Chartered Accountants Act, 1949 (38 of 1949) and in pursuance of rule 3 of the Chartered Accountants (Election Tribunal) Rules, 2006, the Central Government hereby ma...

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