Upon recommendation of 38th GST Council meeting held of 18.12.2019, CBIC has recently released Circular No. 129/48/2019 dated 24.12.2019, define Standard Operating Procedure to be followed in case of non-filers of GST Return under section 39, 44 and 45 of CGST Act 2017. It provides for – > Sending system generated massage to registered person […]
Mandatory Filing of Income Tax Returns – Who is supposed to file ITR for AY 2020-21? There are some legal consequences for late filing and evasion, which this article will explore. Let’s understand whether you are required to file an income tax return in India for FY 2019-20 Mandatory Filing of Income Tax Return (ITR): […]
Procedure for Claiming Unclaimed Dividend/Shares from Investor Education Protection Fund (IEPF) and Steps to be Followed by Company to Process the Claim IEPF – 5 CLAIM PROCESS FOR CLAIMANTS UNDER COMPANIES ACT 2013 1. Claimant to register themselves online on this weblink http://www.mca.gov.in/mcafoportal/loadUserRegistration.do?link=loadUserRegistration 2. Claimant to login and fill web based IEPF – 5 form. […]
The GST Council will set up a grievance redressal mechanism for taxpayers as decided in the 38th meeting of the GST Council held on December 18. 1. It was decided that a structured grievance redressal mechanism should be established for the taxpayers under GST to tackle grievances on GST-related issues of specific and general nature […]
I have Listed some of the shortcomings which I feel while dealing with GST at ground level which need to be solved along with the need of simplification of the GST and request your good self to consider the same so the Indian Trade and Industry and professionals will give their full capacity cooperation for the betterment of the Economy of our country.
The provisions of the GST Law allows a person to apply for advance ruling to get specific points clarified from the Authority for Advance Ruling (AAR). The AAR is expected to clarify the question(s) raised in the application. However, if the Applicant or his jurisdictional officer is not satisfied with the ruling pronounced by the […]
The Indian economy is going through one of the toughest times where a reform measure has failed to get the Indian economy back on GDP growth track. In the last 4 months, there have been a flood of various reforms strategies but the economy is not in the mood of getting into a GDP growth […]
Kerala RERA Rules Kerala Real Estate (Regulation & Development) Rules, 2018 Kerala has notified the Kerala Real Estate (Regulation and Development) Rules 2018 on 18th June 2018 vide GO (P) No. 46/2018/LSGD and has constituted Kerala Real Estate Regulatory Authority on 5th October 2019. Sri. P.H. Kurian IAS (Retd) has assumes charge as Chairman and […]
During preparation and filing of GST Annual Return (GSTR-9) and GST Audit (GSTR-9C), we all have experienced about reconciliation of sales reported in GST returns and sale / income reported in Balance Sheet. Moreover, reconciliation of Input Tax Credit (ITC) availed in GSTR-3B and ITC reflected in GSTR-2A. Apart from such sales and purchases reconciliation […]
The idea of a dormant company was not there in the companies Act 1956 and it is a new concept introduced in the Companies Act 2013.This idea is imported from united Kingdom. Section 455 of companies Act speaks about the dormant company. The meaning of Dormant company means inactive or inoperative. The basic idea of […]
