FINANCE MINISTRY TELLS NON-ITR FILERS TO SUBMIT ITR OR REPLY TO TAX QUERY WITHIN 21 DAYS – THE ECONOMIC TIMES Data analysis has identified several potential non-filers who have carried out high value transactions in FY2017-18 but have still not filed ITR for AY2018-19. The finance ministry has, via data analysis, identified several individuals as …
RBI: Notifies Regulation w.r.t borrowing and lending between Resident and Non- Resident RBI notifies Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 (‘Regulations’) in order to regulate borrowing and lending between a Person Resident in India and a Person Resident outside India, in supersession of extant Notifications in this regard; Outlines prohibition on borrowings and …
RBI: Notifies Regulation w.r.t borrowing and lending between Resident and Non- Resident Read More »
Non-filers can submit Income Tax Returns within 21 Days: Important Points to Remember: The Central Board of Direct Taxes (CBDT) last day has informed that the non-filers can submit the income tax returns within 21 days. Non-compliance after this period would also lead to proceedings under the Income Tax Act, 1961. A statement issued by …
Non-filers can submit Income Tax Returns within 21 Days: Important Points to Remember Read More »
SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods. The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns …
SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES Read More »
The Government is planning to integrate NHAI’s FASTag mechanism from April to help track movement of goods and check GST evasion. The Department of Revenue has set up a committee including officers to integrate e-way bill, FASTag and DMIC’s Logistics Data Bank (LDB) services, after consultation with transporters. It has come to our notice that …
GST: E-Way Bill to be integrated with FASTag from April Read More »
SEBI: ISSUES RATIONALISED GUIDELINES FOR PUBLIC ISSUE OF REITS AND INVITS UNITS SEBI modifies Guidelines for public issue of – (i) Real Estate Investment Trusts (‘REITs’), and (ii) Infrastructure Investment Trusts (‘InvITs’) units, in order to further rationalise and ease the process of public issue; Inserts a proviso, laying down allocation to Anchor Investors in …
SEBI: ISSUES RATIONALISED GUIDELINES FOR PUBLIC ISSUE OF REITS AND INVITS UNITS Read More »
Some Very Interesting Predictions.. 1-Auto repair shops will disappear. 2-A petrol/diesel engine has 20,000 individual parts. An electrical motor has 20. Electric cars are sold with lifetime guarantees and are only repaired by dealers. It takes only 10 minutes to remove and replace an electric motor. 3-Faulty electric motors are not repaired in the dealership …
Company Law Update Companies (Amendment) Ordinance 2019 Commencement Certificate is mandatory now to be obtain within 6 months of Incorporation without which, it can not comment its business activity or borrow money. The ROC can strike off a company if the address of Regd Office is bogus or incomplete/improper address. Conversion of public Ltd to …
Highlights of Companies (Amendment) Ordinance 2019 Read More »
After the 32nd meeting of the GST Council, the government will find itself in a uncomfortable position to defend the catch-line “One Nation, One Tax” for GST. By giving State governments an option to decide soon between Rs 40 lakh Rs 20 lakh as the threshold limit, the GST Council seems to be losing its …
For eg if A has ordered B to send goods to C on behalf of A, then it is clarified that only ONE E WAY BILL IS REQUIRED to be generated and it will be generated either by A OR B. Thank you. For any queries you can call me. CA Lalit G Gandhi (8108776765) …
Clarification for EWAY BILL in bill to ship model Read More »
