Author: administrator
All States to implement national e-way bill system latest by 1st June 2018 for Intra-State movement of goods as per the decision of the GST Council Participation of States in E-Way Bill System All States have joined the Government’s centralized e-way bill system for inter-State transport of goods …
Assessment started in the name of non existing company and completed in the name of new company resulting from merger was nullity-High Court ABCAUS Case Law Citation: ABCAUS 2235 (2018) (03) HC The Revenue was aggrieved by the order of the ITAT which concluded that the assessment had …
GSTR-4 offline tool New version 2.0 is now available For preparing your Quarter 3 GSTR-4 (Oct – Dec) along with amendment of details furnished in Quarter 2 (Jul – Sep), a new version of GSTR-4 offline tool (V2.0) is now available . GSTR4 Offline Tool Version V2.0 Download …
Allocation of Work among Joint Auditors in Bank Audits-ICAI Advisory In view of the ensuing audit of the banks for the Financial Year 2017-18, the Institute of Chartered Accountants of India (ICAI) has issued an advisory for its chartered accountant members regarding allocation of Work among the Joint Auditors …
Partial Withdrawal under NPS The Pension Fund Regulatory Development Authority (PFRDA) has relaxed the norms for partial withdrawal under the National Pension Scheme (NPS). In accordance with the PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations 2017, the subscriber ought to be subscribed to …
NFRA to have power to impose penalty on audit firms The Chartered Accountants Act, 1949 (Act) provides for imposition of punishment/penalties on members of the Institute of Charted Accountants of India (ICAI) if found guilty of misc-conduct. Also, as per section 132(4) of the Companies Act, 2013, the …
199 companies face penalty for non-compliance of CSR norms. No proposal to review the state of implementation of the Companies Act related to CSR Section 135 of the Companies Act, 2013 mandates for expenditure on Corporate Social Responsibility (CSR). Further Section 134 provides that the Board’s Report …
The assessee entitled to claim deduction u/s 80HH with respect for profits derived from processing of cashew in the factories owned by outsiders – High Court ABCAUS Case Law Citation: ABCAUS 2234 (2018) (03) HC The respondent assessee had been carrying on processing of cashew nuts in owned …
Initiatives by Indian Customs for reduction in transaction cost CBEC in its latest advisory has listed out the followingh initiatives taken for reduction of transaction costs. Relaxation for cargo service Providers to take insurance cover for goods stored in customs area for 10 days instead of 30 days. Merchant …
ITAT rejected cash flow statement for no household drawings made. Addition u/s 68 sustained for estimated amount of household drawings ABCAUS Case Law Citation: ABCAUS 2233 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals) sustaining the addition made …
