CBIC releases GST return formats
Central Board of Indirect Taxes and Customs (CBIC) has released the new GST return formats as per the decisions of 28th GST council meeting. To...
Month : July 2018
Penalty or Additional Fee for delay in Filing ROC Forms.
Penalty or Additional Fee for delay in Filing ROC Forms. Background: In Northern region comprising Punjab, Chandigarh and Himachal Pradesh, around 51% of the active...
CGST Rate Notifications issued on 26-07-2018 to give effect the amendments recommended in 28th GST council meeting on 21-07-2018
On 26-07-2018, the CBIC issued the notifications implementing the amendments recommended in the 28th GST council meeting held on 21st July 2018. The list of...
Notification No. 16/2018-Central Tax (Rate) ,dt. 26-07-2018 – Seeks to amend notification No. 14/2017- Central Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.
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Notification No. 15/2018-Central Tax (Rate) ,dt. 26-07-2018 – Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM)
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Notification No. 13/2018-Central Tax (Rate) ,dt. 26-07-2018 – Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by Goods and Services Tax Council in its 28th meeting held on 21.07.2018.
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ICAI represents CBDT to Extend ITR Filing Due Date from 31 July to 31 August 2018
The Institute of Chartered Accountants of India (ICAI) has represented to the CBDT to extend the due date for the ITR filing in case of...
CBDT releases amendments to Form 3CD on 20th July 2018
Central Board of Direct Taxes has released the amendments to the Form 3CD vide Income tax (8th Amendment) Rules 2018, which shall come into force...
Press Note on Simplified GST Return
Press Note on Simplified GST Return GST Council in its 28th meeting held on 21st of July, 2018 in New Delhi, approved the new...
Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st July, 2018
PRESS NOTE July 21, 2018 Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st July, 2018 Amendments to the...
ICAI released E-publication on E-way bill under GST in July 2018 (3rd Edition)
The institute of Chartered Accountants of India (ICAI) in an attempt towards imparting knowledge to the stakeholders in the context of various changes in the...
ICAI submitted the suggestions on GST law to Government
The Institute of Chartered Accountants of India (ICAI), in an attempt towards catering to the needs of the Industry regarding the compliance of the GST...
Submission of evidence during seizure isn’t necessary; can be done in assessment proceeding as well: HC
The High Court of Bombay, in a recent judgement held the following in a case of block assessment, ” Where in course of block assessment, assessee...
CBIC to observe Third Refund fortnight to clear pending refunds
CBIC, in compliance to its commitment towards “Ease of Doing Business” is going to observe Third Refund Fortnight starting from 16th July 2018 to 31st...
Section 185 of the Companies Amendment Act 2017
Section 185: Loan to directors. Summary: In this we are referring the provision of Section 185 of Companies Amendment Act 2017 (Loan to directors...
Unique Document Identification Number (UDIN)
In an initiative towards maintaining the integrity of the certification being done by the Chartered Accountants and to keep a track that no person other...
Indian Accounting Standards (Ind AS): Disclosures checklist by ICAI
The Institute of Chartered Accountants of India (ICAI) has published the book titled “Indian Accounting Standards (Ind AS) : Disclosure checklist” containing the checklists for...