One of the main objects of GST Law is to avoid the cascading effect of taxes and to ensure seamless flow of credits whereas GST Law includes provisions, restricts admissibility of ITC of goods and/or services. Section 16(1) of the Central Goods and Services Tax, 2017 (CGST Act, 2017) provides provision regarding availment of credit […]
As per Ministry of Corporate Affairs (MCA) Order dated 25th February, 2020, CARO 2020 was applicable for the financial year 2019-20 onwards. It was subsequently amended vide its order dated 24th March, 2020 for the deferment of CARO 2020 from financial year 2019-20 to 2020-21. MCA has further deferred the applicability of CARO 2020 from […]
It is submitted that Section 35 and 44 of The Central Goods and Services Tax, Act, 2017 (“CGST Act, 2017”) has been amended by Finance Act, 2021. It is stated that Sections 2 to 88 of Finance Act, 2021 shall come into force on the 1st day of April, 2021 and Sections 108 to 123 […]
Restriction to avail ‘ITC’ under Section 16(2)(aa) & Rule 36(4), if no GSTR-1 is filed by supplier Input Tax Credit (ITC) forms the backbone of GST. It is imperative to streamline seamless flow of credit and any impending issues under ITC must be resolved at the earliest for making GST a Good and Simple Tax. […]
GSTR -3B has been notified as a return as specified for Section 39 of CGST Act, 2017 w.e.f. 01-01-2021 The Central Goods and Service Act, 2017 (CGST Act, 2017) prescribed three returns i.e. FORM GSTR-1 (for outward supplies) u/s 37 of CGST Act, 2017 [Rule 59(1)], FORM GSTR-2 (for inward supplies) u/s 38 of CGST […]
Restriction in filing GSTR-1 will be implemented w.e.f. 01st September, 2021. Rule-59(6) of Central Goods & Services Tax Rules, 2017 (‘CGST Rules, 2017’) was inserted vide Notification No. 1/2021 Central Tax dated 01-01-2021 w.e.f. 01-01-2021, provides for restriction in the filing of GSTR-1 in certain cases. It is also noted that earlier, this rule was […]
The necessary provisions regarding filing an appeal to Appellate Authority has been provided under CHAPTER XVIII- APPEALS AND REVISION [SECTION 107 TO 121] of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) supplemented with CHAPTER XIII- APPEALS AND REVISION [RULE 108 TO 116]. Pursuant to the provisions of Section 107(1) of the […]
The necessary provisions regarding filing an appeal to Appellate Authority has been provided under CHAPTER XVIII- APPEALS AND REVISION [SECTION 107 TO 121] of the Central Goods and Services Tax Act, 2017 (‘CGST Act, 2017’) supplemented with CHAPTER XIII- APPEALS AND REVISION [RULE 108 TO 116]. Pursuant to the provisions of Section 107(1) of the […]
e-Form MGT-14 for board resolution, even in private company, shall be filed with the Registrar of Companies within 30 days of passing of board resolution and pay fee as per the Companies (Registration Offices and Fees) Rules, 2014.
Section 42 of the Companies Act, 2013 (‘CA 2013’) relating to private placement norms for issue of securities, was substituted by the Companies (Amendment) Act, 2017 w.e.f. 07.08.2018. Simultaneously, Companies (Prospectus and Allotment of Securities) Rules, 2014 was amended by the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2018 w.e.f. 07.08.2018. The amendments […]
