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Archive: 10 May 2022

Posts in 10 May 2022

PAS-6 Reconciliation of Share Capital Audit Report – Analysis

May 10, 2022 2856 Views 0 comment Print

Understanding PAS-6: Learn about the reconciliation of share capital audit report and its analysis under the Companies Act.

Everything About LLP-11 (V3)

May 10, 2022 8769 Views 0 comment Print

Get in-depth insights into LLP-11 (V3) Annual Return for LLPs. Discover the provisions, process, and criticalities of this web-based form.

SEBI (Collective Investment Schemes) (Amendment) Regulations, 2022

May 10, 2022 1578 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Collective Investment Schemes) (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette:

Grant of recognition to NDML as an Accreditation Agency

May 10, 2022 897 Views 0 comment Print

Grant of recognition to NSDL Database Management Limited (NDML) as an Accreditation Agency- Pursuant to SEBI Circular dated August 26, 2021 on modalities for implementation of the framework for Accredited Investors, applications have been received from entities for recognition as Accreditation Agency, which shall issue Accreditation certificate to the investors seeking accreditation.

Changes to Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments

May 10, 2022 903 Views 0 comment Print

There shall be no change in methodology of determination and collection of End of Day (EOD) margin obligation of the client. Also, there shall be no change in the provisions relating to collection and reporting of margins in cash segment.

Reporting 6% rate in GSTR-1

May 10, 2022 20196 Views 0 comment Print

1. A new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain goods vide Notification No. 02/2022 dated 31st March 2022. Changes are being made on the GST portal to include this rate in GSTR-1. As a temporary measure, taxpayers who have to report goods at this rate may […]

GST Council Newsletter for the month of April, 2022

May 10, 2022 6516 Views 1 comment Print

GST Revenue collection for April, 2022 Gross GST collection in April, 2022 is all time high, Rs. 25,000 crore more than the next highest collection of Rs.1,42,095 crore, just last month. The gross GST revenue collected in the month of April, 2022 is Rs. 1,67,540 crore of which CGST is Rs. 33,159 crore, SGST is […]

Claim of forfeiture of Advance Rent allowable as business expense

May 10, 2022 1578 Views 0 comment Print

Advances rent during the course of opening of showroom were given in the course of business by assessee and for the purpose of commercial expediency. Therefore, forfeiture of the same by the concerned party had rightly claimed by assesseee as business loss.

Critical Analysis of Safe Harbor Rules

May 10, 2022 2970 Views 0 comment Print

The last few decades have witnessed significant globalization, which has led to the drastic growth of international transactions between parties situated in different nations. However, with this vast geographical network of transactions, comes the problem of keeping up with the different tax rates at which different countries operate.

No ruling can be given in absence of failure to produce key elements: AAR Telangana

May 10, 2022 651 Views 0 comment Print

In order to answer these questions which are related to the issues raised by the applicant they are requested to produce copies of purchase orders of material and orders for erection contracts. However, they have not produced the copies of purchase order and erection order as promised during the personal hearing till date.

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