"15 May 2023" Archive

GST Registration Advisory on Aadhaar authentication status, e-KYC documents

C.No: DGSYS/APP/CZU/RGM0/1/2020-ADD/ JD-III 15/05/2023

GST Registration Advisory - New functionality to view Aadhaar authentication status, to view/ download e-KYC documents for new registration applications and to upload e-KYC documents in PV report-reg....

Does non-payment of consideration really attract reversal of ITC under section 16?

Delve into the intricacies of Section 16s second proviso in GST, which mandates ITC reversal on non-payment of consideration beyond 180 days. Explore key concerns, such as partial payments, credit periods, and the impact on output tax liability. Stay informed about recent amendments effective from October 2022 and gain insights into poten...

Issuance of Optionally Convertible Debentures – Overview

Companies Act of 2013 introduced Optionally Convertible Debentures (OCDs) as a financial instrument for companies to raise capital. This article provides a detailed understanding of OCDs, including their features, issuance process, regulatory compliance, and their impact on companies and investors....

One-Time Settlement Scheme for Advance and EPCG Authorization Holders

Explore the governments one-time settlement scheme for Advance and EPCG Authorization holders. Understand the Amnesty Scheme's eligibility, benefits, and procedures for exporters to settle outstanding export obligations. The scheme provides relief, reduces non-compliance penalties, and streamlines past tax litigation. Act now to avail the...

Clarifying the Role of Company Secretaries as Trademark Agents: An Urgent Need for Clarity

Navigate the recent confusion on whether Company Secretaries can act as Trademark Agents. Explore the qualifications outlined in Rule 144 of Trade Mark Rules, 2017, and ICSI's Council decision in the 290th meeting. Receive clarity on the eligibility of Company Secretaries and understand the need for proactive communication to resolve any ...

Enhancing Governance & Risk Management: Crucial Role of Internal Audit

Explore the crucial role of internal audit in enhancing governance and risk management within organizations. Learn about the systematic approach of internal auditors, their evolving techniques, and the key stages of the internal audit process. Ensure effective risk mitigation and compliance....

Tax on Winnings from Online Gaming Platforms like Dream11 & Rummy Circle

Explore the tax implications of winnings from online gaming platforms like Dream11 in India. Learn about the classification of income, taxation rates, TDS deductions, reporting requirements, and compliance measures. Ensure accurate filing to avoid penalties....

Approach of Finance & Banking Companies: Unilaterally Appointment of Arbitrators

High Court of Calcutta has made a significant pronouncement on the practice of banking and financial institutions unilaterally appointing arbitrators. The court has deprecated this practice and refused to enforce an award that was passed by a unilaterally appointed arbitrator....

Who should file Income Tax Return (ITR)?

Uncover who is obligated to file an Income Tax Return (ITR) in India. Explore criteria based on income, age, and sources of income. Whether you're an individual, NRI, business owner, or involved in high-value transactions, understanding ITR requirements is crucial....

Payment of Remunaration to directors and Its GST impact

Understand the three types of payments to directors by a company and their GST impact. Learn about mandatory GST registration, Reverse Charge Mechanism (RCM) notification, and recent clarifications on remuneration to directors. Stay informed to navigate GST implications effectively....

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