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When ITC has to be blocked/unblocked from Electronic credit ledger

October 30, 2018 25551 Views 0 comment Print

The functionality of blocking and unblocking Input Tax Credit is an important tool for safeguarding the Government revenue particularly in cases of fraudulent activities by the taxpayers. So the jurisdictional officers are hereby directed to use this functionality for blocking/unblocking Input Tax Credit under the following situations:-

MCA extends due date of Filing Annual ROC Returns to 31.12.2018

October 29, 2018 41181 Views 7 comments Print

MCA decided to relax the additional fees payable by companies on e-forms AOC-4, AOC (CFS) A0C-4 XBRL and e- Form MGT-7 upto 31.12.2018, wherever additional fee is applicable.

Fire Audit of Currency Chests – Clarification

October 25, 2018 1434 Views 0 comment Print

We have been receiving references from various banks about non-availability of staff in State / District Fire Departments for getting the periodical fire audit conducted in their respective currency chests.

e-filing facility to Maharashtra tax payers for smooth GST Compliance

October 24, 2018 14526 Views 2 comments Print

Maharashtra State GST Department has established dedicated helpdesks in all State GST offices in the state for assisting taxpayers in e-filing of various applications/forms, namely-1) Registration- Application for New Registration, Amendment and Cancellation. 2) Return – GST 3B, GSTR 1, GSTR 4, GSTR 5, GSTR 6, GSTR 7. 3) Payment- GST 3B related payments. 4) Refund- All types of refund applications.

MVAT: Sales detail Submission through Online Ledger Confirmation Utility

October 24, 2018 66912 Views 3 comments Print

Your attention is invited towards the Trade Circular cited at Ref. (8) above. The said Circular mandated the buyer, under certain circumstances, to submit electronic evidence (Ledger confirmation) in support of his set-off claim.

IGST Refund when refund scroll generated for a much lesser IGST

October 24, 2018 15351 Views 0 comment Print

CBIC has been receiving representations where the refund scroll has been generated for a much lesser IGST amount than what has actually been paid against the exported goods. Broadly, this has happened due to: a Error made by the exporter/CHA in declaring the IGST paid amount in SB or,

Owner of goods to procure a RFID seal from destination warehouse

October 23, 2018 810 Views 0 comment Print

Allowing the owner of the goods to procure a RFID seal from the destination warehouse also obviate the need for development of any universal application by all vendors or the need for procuring multiple readers by warehouse owners.

Total Expense Ratio & Performance Disclosure for Mutual Funds

October 22, 2018 2928 Views 0 comment Print

A. Transparency in TER- In order to bring transparency in expenses, reduce portfolio churning and misselling in mutual fund (MF) schemes, the following shall be adhered to:

Due date extended for filing PT returns without late fee in Maharashtra

October 19, 2018 63444 Views 5 comments Print

Late fees is not payable for delayed return filing of Professional Tax (PT) Returns in Maharashtra by the registered employer in respect of monthly or annual returns pertaining to periods April 2016 to November 2018 if  amount payable as per return been/shall be paid on or before the due date. The aforesaid employers should submit the […]

Cyber Security Framework for Primary (Urban) Co-op Banks (UCBs)

October 19, 2018 3333 Views 0 comment Print

Use of Information Technology by banks has grown rapidly and is now an important part of the operational strategy of banks. The number, frequency and impact of cyber incidents/attacks have increased manifold in the recent past, more so in the case of financial sector including banks

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