A proviso has been inserted in clause (i) of the Notification No. 35/2020-Central Tax, dated the 3rd April, 2020 this Notification was amended by Notification No. 55/2020 -Central Tax Dated 27th June, 2020 and Notification No. 65/2020 -Central Tax Dated 27th June, 2020 Full Text of…
Central Board of Indirect Tax and Customs (CBIC) has issued administrative instruction on 18th September, 2020. The said order has been addressed to all the commissioners of Central Tax and Director General. The said instruction inter-alias en-lights legal background governing the most debatable topic in…
Advisory on Delinking of Credit Note/Debit Note from invoice, while reporting them in Form GSTR 1/GSTR 6 or filing Refund Till now, original invoice number was mandatorily required to be quoted by the taxpayers, while reporting a Credit Note or Debit Note in Form GSTR-1…
Relaxations Applicable to Small Companies Definition of small Company as per Section 2(85) of The Companies Act, 2013 “small company” means a company, other than a public company. paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may…
The following fields are mandatory for Table 9B of GSTR-1 (for Credit/Debit Notes to registered dealers) Receivers GSTIN Receivers name will be auto-populated once Receivers GSTIN is entered Debit/Credit Note No. Debit/Credit Note Date Note Type Note Value (₹) POS Supply Type Inter-State Intra-State Snapshot…
COURT RULINGS Challenge to validity of Rule 86A of the CGST Rules Rule 86A of the CGST Rules, to the extent it gives power to block credit at no fault of the recipient, has been challenged. Further, the same has been challenged to be ultra-vires…
SEBI AMENDMENTS ON ASSETS ALLOCATION OF MULTI CAP FUNDS Background SEBI vide it’s circular no. SEBI/HO/IMD/DF3/CIR/P/2020/172 dated 11th September, 2020 has revised the assets allocation criteria of Multi-Cap Funds in India wherein it had stated that AMCs have to invest at least 75% of the…
Ministry of Corporate Affairs (MCA) vide General circular No. 29/2020 dated 10th September 2020 extended the last date of filing of Form CRA-4 for FY 2019-20 under the Companies Act 2013. MCA has decided that if cost audit report for the financial year 2019-20 by…