Ever since the advent of the Insolvency and Bankruptcy Code, 2016(Code) and associated regulations , there are several new categories of professionals that have arisen, and several old categories that have had to reinvent themselves to meet the demands of the Code and its impact on the business ecosystem in India.
Analysis on Related Party Transaction Under Section 188 of the Companies Act, 2013 – Section 188 of Companies Act, 2013 is been made effective from 01.04.2014 and since than the same been amended nine times till date. In this article Analyses Provision of Section 188- Meaning of Related Party Transactions Covered Some Important Definitions: 1. […]
Central Board of Indirect Taxes and Customs (CBIC) which is the apex body for the management of indirect taxation in India has brought certain changes in GST rules vide Notification No. 49/2019 – Central Tax dated 09th October 2019. Among others, it has amended the rule no.36 of CGST Rule, 2017 by inserting new sub […]
Notification No. 44/2019 – Central Tax – dated 09/10/2019 As the rollout of new returns has been postponed, notification has been issued for the filing of GSTR – 3B for the months of Oct 2019 to March 2020. The date of filing of GSTR – 3B is 20th of the next month. Notification No. 45/2019 […]
CBIC vide notification number 49/2019 –CT dated 09.10.2019 made the amendment in CGST Rules, 2017. In this notification, CBIC notifies the new rule 21A(5) – the detailed analysis are herein below; Suspension of Registration: As per rule 21A(3) CGST Rule, 2017 (Inserted through Notification No. 03/2019 – Central Tax dated 29.01.2019, w.e.f. 01.02.2019), a registered […]
Introduction: CBIC vide notification number 49/2019 –CT dated 09.10.2019 made the amendment in CGST Rules, 2017. Through this notification, CBIC notifies the GSTR 2A reconciliation on monthly basis which leads to the blockage of credit or leads to outflow of the cash by not allowing the ITC exceeding the 20% of eligible credit of invoices […]
Decoding Rule 36(4) of CGST: ITC available only 20% more of Invoices uploaded by the Supplier Among all the confusions and complexities, here we have one more, by the Notification No.49/2019-Central Tax dated 9th October 2019 which inserts a sub rule (4) in Rule 36 of CGST Rules as below: “(4) Input tax credit to […]
In India, our ancestral were living on the policy of helping each other. They take responsibility for the welfare of their society, in which they are living. In Current time period due to increase in Expense level, a single person cannot take the responsibility for the welfare of society. Now, peoples having the same desire […]
Post Sales Discount -Withdrawal of Circular No. 105/24/2019-GST dated 28.06.2019 vide Circular No. 112/31/2019–GST dated 3rd October, 2019 Legal Provisions (Sec 15(3) of the CGST Act 2017): Amount of discount can be reduced for charging GST in the following circumstances: Discount offered before or at the time of supply (Discount mentioned on invoice itself) Discount offered […]
Introduction: Notification No. 49/2019 Central Tax dated 09.10.2019 inserted explanation to sub rule 3 and also inserted sub rule 5 after sub rule 4 to rule 21A of CGST Rules 2017. Rule 21A of CGST Rules 2017 talks about Suspension of GST Registration Sub Rule 3 of Rule 21A of CGST Rules 2017 says: A […]
