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Archive: January, 2022

Posts in January, 2022

Service tax paid on re-insurance allowable as input service under CENVAT Credit Rules

January 30, 2022 2340 Views 0 comment Print

High Court has held that the service tax paid on re-insurance would be allowable as input service under the CENVAT Credit Rules, 2004.

ITC Reversal on Sale of Used Capital Goods

January 30, 2022 45429 Views 5 comments Print

Many a time we have seen that people buys capital goods, take its Input Tax Credit (ITC) and then sale the asset after sometime. Now the question here is whether there is any need to reverse the ITC already taken at the time of purchase? In this article we will understand the answer of this […]

Declaration of undisclosed income to ‘buy peace’ – Immunity from Penalty?

January 30, 2022 5700 Views 0 comment Print

Understanding the implications of declaration of undisclosed income to ‘buy peace’ in income tax search and seizure cases.

ICAI Cut-off date for conversion from Earlier Scheme to Revised Scheme

January 29, 2022 3810 Views 0 comment Print

Students may note that since the December, 2021 was the last exam of Intermediate (IPC) Course – Under Old Scheme and Final Course Examination – Under Old Scheme, therefore, old course students who wish to appear in May 2022 exams of Intermediate and Final are required to convert themselves from Earlier Scheme to Revised Scheme of Education and Training implemented w.e.f. 1st July, 2017 latest by 13th March, 2022.

GST on Stamp duty payable on Mining Lease

January 29, 2022 13995 Views 0 comment Print

GST on Stamp duty payable on Mining Lease 1. Mining lease are granted by Government as per the Provision of MMDR Act,1957. The Holder of mining lease has to pay Royalty to the Govt. as per the said Act. 2. Further, Govt. of Odisha as well as Govt. of Other States are charging stamp duty […]

Importance of Compliance of Companies Act, 2013

January 29, 2022 6432 Views 0 comment Print

This editorial is based on the importance of compliance of Provisions of Companies Act, 2013. As there are lot of amendment has come into Companies Act, 2013 in last 8 years. Many places ease has given and many places strictness has been made. The only motto of government to company with the law in corporate […]

How to Claim Share from IEPF In case of Loss of securities held in physical mode

January 29, 2022 7617 Views 2 comments Print

In our last editorial, we have discussed about the Steps to claim shares/ dividend back from IEPF. We have received so many queries from public that ‘how to claim shares in the case original share certificate are lost’. In this editorial we will discuss step by step process of the same. However, we will also […]

Impact of Non-Filing of E-Form AOC-4 Till 31.12.2021

January 29, 2022 14079 Views 3 comments Print

Many professionals have asked in many Whatsapp Groups, Social Media Platforms ‘Impact/ Implication of Non filing of AOC-4 till 31.12.2021′. In this editorial author shall discuss the implication and effects of delay in filing of AOC-4. A. Provisions of Companies Act, 2013 As per Companies Act, 2013 Companies are required to submit their financial statement […]

Guide to fill e-form IEPF-5

January 29, 2022 28089 Views 15 comments Print

In our last editorial, we have discussed about the procedure to claim shares/ dividend back from IEPF. We have received so many queries from public that ‘how to file IEPF-5’. In this editorial we will discuss step by step process of the same. However, we will also publish video on the same with all step by step process.

Increase In Additional Fees under Companies Act, 2013

January 29, 2022 6117 Views 0 comment Print

SHORT SUMMARY: Recently MCA has issued a Notification on 11th January 2022 for amendment in ‘Companies (Registration Offices and Fees) Amendment Rules, 2022‘. This notification is stated about ‘Higher Additional fees in Certain Cases‘. A. Language of Circular: The additional fees and higher additional fees shall be applicable in delay in filing of certain forms […]

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