"30 June 2022" Archive

ICSI Request for providing extension of timelines for filing of Form CSR-2

It is requested to extend timelines to file Form CSR-2 by companies for preceding financial year 2020-2021 from 30th June, 2022 to 31.12.2022...

Posted Under: Company Law | ,

GST Registration for Information technology (IT) Company

IT company will have all the software and hardware part where many IT professionals work together for clients and since this will a company and every company must pay tax for the government but it may include many unwanted taxes and to avoid these unnecessary tax payment and make them single payment they have to […]...

Posted Under: Company Law |

Export Oriented Units (EOUs) | Meaning & Complete Process

The full form of EOU is Export Oriented Units. Introduced in 1981, the scheme aims to increase exports from India, to thereby increase foreign exchange earnings and create employment. This scheme also complements other schemes such as Free Trade Zone (FTZ) and Export Processing Zone EPZ in India. The provisions of Chapter 6 of the [&helli...

Posted Under: Company Law |

47th GST Council Meeting Updates Summary

This article highlights the major decisions taken at the 47th GST Council Meeting held on 28-29 June 2022 A) GST Refund rules 1) Inverted Duty Structure: – Change in formula for calculation of refund under rule 89(5) The formula shall include Utilization of ITC on account of inputs and input services for payment of output […]...

Posted Under: Company Law |

Limited Liability Partnership – Form-3 and Form-4

Limited Liability Partnership Agreement (Agreement) is a written agreement between partners of the Limited Liability Partnership (LLP) which determines the mutual rights and duties of the partners and to that LLP. Purpose of Form-3: It is filed for 1. Information with regarding Agreement; and 2. Information with regarding changes in Agree...

Posted Under: Company Law |

Authority of Advance Ruling Under GST – A Failure?

Kohana Sagi  Authority of advance ruling is an adjudicatory and independent body which issues rulings on questions related to transactions of tax or on matters of tax, generally involving avoidance of tax. The term advance ruling is defined as a decision provided by the Authority or Appellate Authority on questions specified by the appli...

Posted Under: Company Law |

ICAI President’s Message – June 2022

Our nation has shown great resilience and willingness to overcome the ill effects of pandemic and move ahead towards the path of self-reliance. Our economy is not only able to sustain, but is also one of the few growth stories globally because of the will, determination and collective eff orts of all the stakeholders. The […]...

Posted Under: Company Law |

Migration of e-BRC Portal/Website to new IT platform – reg.

Trade Notice No. 13/2022-23-DGFT 30/06/2022

Existing eBRC module is now being upgraded to a new IT platform and it is proposed to discontinue earlier version (http://dgftebrc.nic.in/) from end of July 2022....

Aadhaar authentication of candidates appearing in Railway Examination

Notification No. G. S. R. 507(E). 30/06/2022

Aadhaar authentication services, on voluntary basis to establish identity of the candidates appearing in Computer Based Test before examination or during course of Examination conducted by the Railway Recruitment Control Board through twenty-one Railway Recruitment Boards....

Clarification in relation to GST rate on Services – Sale of Land

There were various grey areas in GST, where chargeability or rate of tax is a matter of constant debate and discussion. The contradictory rulings issued by various Advance Ruling Authorities on a same nature of transaction adds up to the confusion. As a welcome step, the 47th GST Council meet, held on 28th & 29th […]...

Posted Under: Company Law |

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September 2023