BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20 INTERIM BUDGET 2019-20 PRESENTED IN PARLIAMENT TODAY HAS A MAJOR SCHEME FOR FARMERS AND PROVIDES FOR INCOME TAX SOPS THIS INTERIM BUDGET IS TO BE VIEWED AS A MEDIUM FOR A PROGRESSIVE PATH FOR THE COUNTRY, THE FINANCE MINISTER SAYS SHRI PIYUSH GOYAL SAYS GOVERNMENT […]
Notification No. 02/2019 (Central Tax) to 06/2019 (Central Tax) have been notified giving effect to the changes approved by the GST Council in last meetings. Further, Provisions of the Central Goods and Services Tax (Amendment) Act, 2018 has also been made effective so far. Notifications wise analysis are discussed below:
Almost all of us keep our money in saving account for meeting various items like EMIs and SIP which gets debited in due course. Since these are temporary fund these cannot be deployed in other products like Fixed Deposits with higher tenure of investment. I intend to explain how the temporary surplus fund in your […]
CBIC issues 13 Notifications on 29th January 2018 which includes the following- 1. notifications to specify that Reverse Charge Mechanism on Procurement from Unregistered Dealers which was deferred till 30.09.2019 to be completely withdrawn with effect from 1st February 2019 2. It further notified applicability of CGST (Amendment) Act,2018, IGST (Amendment) Act, 2018, UTGST (Amendment) […]
Recently the government is focusing on ease and simplicity of returns, because of which the government has initiated certain steps to provide for rectification of tax invoices entered in GSTR 1 of the previous financial year.
We are summarising herewith section-wise tabular presentation of amended CGST Act, 2017and IGST Act, 2017 in comparison with pre-amendment Acts. This tabular also discusses the effect of these amendments along with suggestions as to further simplification of the GST Laws.
The Income Tax Department has identified several potential non-filers who have carried-out high value transactions in Financial Year 2017-18 but have still not filed Income Tax Return for Assessment Year 2018-19 (relating to FY 2017-18). There might be several reasons for sending such notices. These are common notices, but you need to know what they mean and what you must do upon receiving them.
Companies (Acceptance of Deposits) Amendment Rule, 2019 now mandate every company to file e-form DPT-3 irrespective of whether it has accepted deposits or not. The said requirement envisages stricter compliances for companies who may not be engaged in deposit taking activity.
I have identified certain common mistakes in GST compliance, few of them are summarized below. The intention is to highlight common mistakes and precautions to be taken for GST audit so that efforts can be taken to solve / rectify them before starting GST audit and save cost of interest and penalty.
Pass percentage & Toppers of Chartered Accountants Final Examination (Old and New syllabus) held in November, 2018, Foundation Examination held in November, 2018 and Common Proficiency Test (CPT) held in December, 2018. ICAI Press Release Extract The Institute of Chartered Accountants of India (ICAI) today announced the following results: Chartered Accountants Final Examination (Old/New Syllabus) […]
