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RBI cancels Certificate of Registration of 5 NBFCs The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five Non-Banking Financial Companies (NBFCs). Sr. No. Company’s Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1. M/s Cygnus …

Central Goods and Services Tax (Sixth Amendment) Rules 2018-Transporter registered in more than one State may apply for unique common enrolment number MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 28/2018 – Central Tax New Delhi, the 19th June, 2018 G.S.R. …

ICAI Annual Membership Fee Payment and GST Credit-ICAI can not raise invoice in partnership firms name. It can accept GSTIN nos of proprietorship firms only As per the latetst communication from the Indirect Taxes Committee of ICAI , the committee has considered the request raised by the Chartered …

Unspent amount of donations shown as current liabilities not income if received with stipulation to their use by the Charitable Trust-High Court ABCAUS Case Law Citation ABCAUS 2377 (2018) 06 HC The instant appeal was filed by the Revenue u/s 260-A of the Income Tax Act 1961against the …

Companies Accounting Standards Amendment Rules 2018-AS-11. Disposal of a Non-integral Foreign Operation by repatriation of accumulated profits not form part of a disposal unless constitutes return of the investment Ministry of Corporate Affairs NOTIFICATION New Delhi, the 18th June, 2018 G.S.R...…. (E).-

ICAI bans CA guilty of professional misconduct, removes name from the Register of Members for one year for non exercising due diligence/grossly negligent THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 15th June, 2018 (CHARTERED ACCOUNTANTS) No. PR-52/10-DD-72/10/DC/315/2014.—In …

NCLT has no power to direct deposit as precondition for hearing appeal. No jurisdiction to dismiss appeal itself for failure to make deposit against condition of stay-SC  ABCAUS Case Law Citation ABCAUS 2376 (2018) 06 SC The appellant partnership firm participated in two tenders and it was L-II …

Electronic sealing-deposit in and removal of goods from customs bonded Warehouses. Data elements and procedure to be used under Warehousing Regulations Circular No. 19 I 2018- Customs F.No: 484/3/2015- LC (Vol II) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs …

Date of transfer of immovable property is when sale deed is executed and not when it is recorded by the Registrar. ITAT deletes addition u/s 56(2)(vii)(b) The instant appeals were filed by the assessee against the order of the CIT(A) confirming the action of assessing officer (AO) in …

Orders u/s 234E not appealable before CIT(A). Department not obliged to serve the order separately upon the assessee when available online – ITAT  The instant appeals were filed by the assessee against the order of the CIT(A) confirming the order imposing late fees under section 234E of the …