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Archive: July, 2023

Posts in July, 2023

CESTAT Upholds CHA License Revocation on Absence of Evidence

July 22, 2023 489 Views 0 comment Print

CESTAT Bangalore has upheld the decision to revoke the suspension of Bon Freight’s CHA license, due to lack of conclusive evidence pointing towards their involvement in irregularities.

No Section 272A(1)(c) penalty if Reasonable cause shown for delay in providing details

July 22, 2023 2574 Views 0 comment Print

ITAT Mumbai held that penalty under section 272A(1)(c) not warranted as reasonable cause shown for delay in providing the details by the assessee and later in the end, the assessee had shared all the relevant details.

Cooperative Society’s Interest Earnings from cooperative banks: Deduction u/s 80P(2)(d) Available

July 22, 2023 1401 Views 0 comment Print

ITAT Pune held that interest income earned by the cooperative society from the investment with cooperative banks qualifies for deduction under section 80P(2)(d) of the Income Tax Act.

GST: E-Invoicing प्रावधान

July 22, 2023 8226 Views 0 comment Print

वित्त मंत्रालय भारत सरकार ने नोटिफिकेशन संख्या 10 / 2023 सेंट्रल टैक्स दिनांक 10 मई 2023 के द्वारा 1 अगस्त 2023 से टर्नओवर रुपए 5 करोड़ से अधिक के जीएसटी करदाता को अपने invoice की e-invoicing करनी होगी।  मित्रों सूचना क्रांति का युग है । शायद आने वाले समय में e- invoicing का प्रावधान  सभी […]

Transitional credit claim for period prior to approval of resolution plan by NCLT is not allowable

July 22, 2023 981 Views 0 comment Print

Jharkhand High Court held that as liability of earlier management cannot be shifted to current management, similarly, credit of earlier management cannot be shifted to current management. Hence, claim of transitional credit prior to the approval of the resolution plan by the National Company Law Tribunal (NCLT) is not allowable.

Extension of ICSI ECSIN Amnesty Scheme, 2023 till 31.07.2023

July 22, 2023 2364 Views 0 comment Print

ICSI decided to launch the ECSIN Special Amnesty Scheme, 2023 effective from July 21, 2023 to July 31, 2023 with a view to facilitate the members.

Extension of ICSI UDIN Amnesty Scheme 2023 till 31.07.2023

July 22, 2023 2571 Views 0 comment Print

ICSI has decided to launch the UDIN Amnesty Scheme, 2023 effective from July 21, 2023 to July 31, 2023 with a view to facilitate the Members.

No Penalty for One-Day E-way Bill Expiry Delay

July 22, 2023 1611 Views 0 comment Print

In a significant ruling, the Calcutta High Court held that a less than a day delay in the expiry of an E-way bill due to reasons beyond control is excusable, setting aside penalties in the case of Ashok Mishra Vs State of West Bengal & Ors.

Committees under the companies act, 2013

July 22, 2023 16965 Views 0 comment Print

Elevate corporate governance with insights into Committees under the Companies Act, 2013. Explore the significance, importance, and applicability of key committees like Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, Corporate Social Responsibility Committee, and Vigil Mechanism. Stay informed to strengthen your company’s governance framework.

IND AS Overview and applicability in simple Language

July 22, 2023 9678 Views 1 comment Print

Unlock the complexity of Indian Accounting Standards (Ind AS) with our simplified overview. Learn the applicability, principles, and key standards, including Presentation of Financial Statements, Inventories, Statement of Cash Flows, and more. Stay compliant and elevate financial reporting in India.

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