As the Financial Year is ending, below five actions are need to be taken on immediate basis for compliance under GST:- 1. New Invoice series Ensure to create new/ unique invoice series. The same should be consecutive and unique for a financial year. Also, multiple invoice series for various branches/segments/Products & Services can be generated […]
Passionate entrepreneurs aim to build practical unique solutions for customers through their start-up venture. The business has to focus on its potential customer base, its USP and market situation. At the same time Entrepreneur should have or they should hire or outsource someone who has a good understanding about the basic laws of the land, rules, regulations that are applicable and various government schemes that are drawn for the welfare of the budding businesses and their smooth functioning.
SEBI Press Release – SEBI Board Meeting (March 25, 2021) The SEBI Board met on March 25, 2021 where it, inter-alia, took the following decisions: Review of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 SEBI Board approved several amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, […]
The Companies (Accounts) Amendment Rules, 2021: MCA has vide its notification dated 24.03.2021, notified the Companies (Accounts) Amendment Rules, 2021. Effective from the 1st day of April, 2021. The analysis of amendment notification dated 24.03.2021 is as follows: Amendment to Rule 3: Post-Amendment, in Rule 3, in sub-rule (1) the proviso shall be inserted: (1) […]
Brief: The following article explains the provisions of Fast Track Mergers, its advantages, steps involved & details of forms need to be filed for a fast-track merger. 1. APPLICABLE PROVISIONS UNDER COMPANIES ACT, 2013: i. Section 233 of the Companies Act, 2013 ii. Rule 25 of TheCompanies (Compromises, Arrangements, and Amalgamations) Rules, 2016 2. WHAT […]
Article explains What is Composition Scheme under GST, Who can opt for the Composition Scheme under GST, Who cannot opt for the Composition Scheme under GST, Applicable tax rates under Composition Scheme under GST, Which Returns to be filed by dealer opting Composition Scheme and Miscellaneous Provisions related to GST. 1. What is Composition Scheme […]
IMPORTANT GST CHANGES APPLICABLE FROM 01st April 2021 AND THINGS TO DO BEFORE 31st March 2021. 1. E-WAY BILL With the amendment by Finance Act 2021, u/s 129 of the CGST Act under detention, seizure, and release of goods and conveyance in transit, the penalty applicable will be 200% of the tax payable. 2. Input […]
Summary/ Gist of Amendments to Companies (Accounts) Rules, 2014 -Insertion of a Proviso in Rule 3(1)- To mandate Accounting software having audit trail feature of every transaction -Insertion of 2 clauses in Rule 8(5)- To add more matters to be included in Board report Effective Date of Companies (Accounts) Amendment Rules, 2021- 1 April, 2021 […]
CBDT notification for introduction of new forms for filing application for registration under section 10(23C) of the Income-tax Act, 1961 Government of India amended the first proviso and second proviso of Section 10(23C) and by way of inserting clause (ac) under sub-section (1) of Section 12A of the Act through Finance Act, 2020 requiring that […]
There are various CBS developed by various software companies created to serve the banking Industry.. The same are available in the market however, out of the all, highly acclaimed and widely used Core Banking Softwares are a) FINACLE by Infosys, b) BaNCS by Tata Consulting Services and c) FlexCube by Oracle Financial Services FlexCube provides […]
