Quick Insight- 2017 for the CA fraternity, highlighting latest developments in the profession. The Quick Insight contains important information on tax, accounting & auditing standards, limited liability partnership, Companies Act, statements and standards and standards on audit as well as important information for Members.
The Congress Party’s impeachment motion against the Chief Justice of India was wholly misconceived. It is poorly drafted and lacked in substance. Many of its traditional allies were not willing to take on this confrontation with the judicial institutions.
The present system of filing of GST Returns as contained in section 37, 38 and 39 of the CGST Act requires filing of monthly returns in three stages by three different dates of the Month. To be specific, Form GSTR-1 is required be filed by 10th of the next month, Form GSTR-2 is required to be filed by 15th of the next month and Form GSTR-3 is required to be filed by 20th of the next month. S
Petitioner Sajeev Ezhava, filed public interest litigation before Hon’ble Gujarat High Court contending that the parking fee collected by malls and commercial establishments is illegal and against the basis of exempting them from municipal taxes.
SA 701 is applicable for audits of financial statements for periods beginning on or after April 1, 2018 (i.e. for audits of financial year 2018-19 & onwards).
Central Government, having regard to the national interest, hereby notifies the following foreign companies and agreement, for the purposes of clause (ii) of the proviso to clause (48A) of section 10 of the Income-tax Act, 1961
In case the due date of filings under Section 92 (Annual Return) or 137 (Annual Financial Statement) of the Companies Act, 2013 expires after 30/06/2018, the additional fee @Rs.100 per day shall become payable in respect of MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS.
Policy condition for import of old/used and new automotive mining equipments, oil rigging equipments for operation in captive mines/ oil rigging areas and other vehicles for research and development purposes is introduced.
The 27th meeting of GST Council was held in New Delhi on May 4, 2018. The below information is uploaded on GST Council’s decision and it will be subject to further vetting during which the information may undergo some changes. Key takeaways from such meeting are as under:-
These rules may be called the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018. They shall come into force on the date of their publication in the official Gazette.
