♣ Section 134(5) of the Companies Act, 2013 requires board of directors of every company to state in its Directors’ Responsibility Statement that they have prepared the annual accounts on a going concern ♣ Also, Ind AS 1 – Presentation of Financial Statements and AS 1 – Disclosure of Accounting Policies requires the management to assess the entities ability to continue as a going concern.
The procedure for conversion of sole proprietorship to LLP and what documents are required for such conversion is explained below: > STEP 1 – INCORPORATION OF NEW LLP (Filing of Form FiLLiP) The 1st Step is to incorporate a new LLP by filing e-form FiLLiP for reserving the name and incorporating the LLP. Attachments/Documents required […]
NCLT Kolkata held that non-obstante provision of Section 32A of Insolvency & Bankruptcy Code, 2016 is also applicable to liquidation proceedings.
Let’s start the discussion with brief introduction of controversy due to which the matter went to Hon’ble High Court and there was necessity of Court to intervene. Section 54 of CGST Act, 2017 is basically dealing with all types of refund situations in GST and most precisely section 54(3) is talking about situations in which refund is granted to the registered persons.
The Union Cabinet on July 29, 2020, officially proposed amendments in the traditional schooling National Education Policy. The policies are special since it is the first educational policy of the century in India and alters the traditional and outdated thirty- four years old national education policy since the year 1986. Highlights of the New National Education Policy 2020: 1. Prospective Aims: […]
In part I of the article we have discussed 16 Landmark Judgments on GST Law related to Scope of Supply & Levy, Input Tax Credit, Returns and Payment of tax. In this part i.e. Part II of the article we will discuss 14 more Landmark Judgments on GST Law related to GST Refunds, Arrest under […]
CBIC has not been able to train its GST officers who are still lacking appropriate knowledge and understanding of GST law and therefore are passing adjudication notices/orders on petty and illogical issues leading to continuous harassment of taxpayers.
Mandatory Claim of Enhanced Depreciation of 15% in case of Motor Vehicles (Acquired & put to use from 23rd August 2019 to 31st March 2020) In July 2019, Honorable Finance Minister Ms. Nirmala Sitharaman presented union budget for the financial year 2019-20 in the parliament. Subsequently the finance minister had announced several short and long-term […]
Taxation-A Money eater, can be turned into wealth creator! Background Investing an Art or Science, I belief Investing is both, an art, to the extent you should learn to overcome from fears, control your emotions, have patience, control greed etc, and science to the extent you should do research, analyze various data/assets class, knowing various […]
Conditional Offers 1. Regulation 19(1) Acquirer may make offer which is conditional as to the minimum level of acceptance; 2. Proviso to Regulation 19(1) Where an open offer is subject to an agreement such agreement shall stipulate a condition to the effect that in the event the desire level of acceptance of open offer not […]
