GST NEW FORM GSTR-3A|WHAT IS GSTR-3A|WHO SHALL FILE GSTR-3A|HOW TO GIVE REPLY FOR GSTR-3A|

SEBI bars NSE from securities market for 6 months

Market regulator Securities and Exchange Board of India (SEBI) on April 30 directed the National Stock Exchange to 'disgorge' Rs 625 crore with 12 percent per annum interest in the co-location case.

The regulator has also barred the exchange from the securities market for six

Nine booked for Rs 3 crore civil supplies godown scam

Nine persons were booked for committing irregularities worth over Rs 3.4 crore over a period of four years since April 2015 at the civil supplies godown in Kalol.

The current deputy manager of 

MCA likely to debar Deloitte for 5 years

Even as Deloitte Haskins and Sells remains perched precariously on the high wire over its questionable role in the IL&FS audit process, it appears that the Ministry of Corporate Affairs may invoke section 140 (5) of the Companies Act to debar the firm for alleged malpractice in IL&FS accounts. This extreme action is being warranted after Deloitte's alleged misdemeanours and conduct in the IL&FS case.
This Section essentially looks at the following:(5) Without prejudice to any action under the

RFP For Internal Audit For The Financial Year 2019 To 20 of ONGC

• Ongc Mangalore Petrochemicals Limited, Karnataka (05 Apr 2019) Open Tender For Hiring Of An External Agency To Provide Support Services For Internal Audit For The Financial Year 2019 To 20 To Ompl
  Address :
  

Vacancy for CA in New Mangalore Port Trust

Job Details:

New Mangalore Port Trust invites applications from eligible candidates for the recruitment of following posts:

Benefit of Lower GST rate for services of Works Contract w.e.f 1st April, 2019

In case of composite supply of ‘works contract’* as defined in section 2(119) of CGST Act, 2017, other than

(i)  Construction of affordable residential apartments by a promoter in a Residential Real Estate

BREAKING GST NEWS: E-invoicing may begin under GST- NOW invoices will be issued via GSTN

NEW DELHI: In what could radically transform the indirect tax administration system and the way business is conducted, India is looking at the possibility of introducing electronic invoicing under goods and services tax.
If the country adopts the system, businesses will likely have to issue invoices, or bills, directly via the

Complaint Under Section 138 NI Act Maintainable Against Dishonour Of Cheques Issued In Pursuance Of Agreement For Sale: SC

The Supreme Court has observed that a complaint under Section 138 of the Negotiable Instruments Act is maintainable when there is dishonour of cheques issued under and in pursuance of the agreement to sell.
In Ripudaman Singh vs. Balkrishna, a couple entered into an agreement to sell with the accused, who paid some amount in cash and towards balance, issued two post dated cheques, each in the

THE STAMP PAPERS DO NOT HAVE ANY EXPIRY PERIOD

Brief: According to a Supreme Court judgement dated 19/02/2008 in the case of Thiruvengada Pillai Vs Navaneethammal and Anr.,
CITATION: THIRUVENGADA PILLAI VS NAVANEETHAMMAL AND ANR.
Judgment:

MAJOR RELIEF TO TAXPAYERS IN GST|REVOCATION OF CANCELED GST CAN BE FILED WITHOUT FILING GST RETURNS

Empanelment with the O/o C&AG of India for the year 2019-2020

Empanelment with the O/o C&AG of India for the year 2019-2020

The Provisional Panel of Chartered Accountant firms/LLPs for the year 2019-20 for indicating the position (along with provisional point score) of the firms who had applied for empanelment with

Who is the current president of ICAI? Daily Quiz (26/04/19) win free talk time for correct reply

The member providing the first correct reply shall receive free talk time worth Rs.10 award.


To reply login to comment section below this post and leave your reply


Terms and Conditions:

Cases where e-way bill is not required

E-Way Bill is a unique document/bill, which is electronically generated for the specific consignment/movement of goods from one place to another, either inter-state or intra-state and of value more than INR 50,000, required under the current GST regime.

When e-Way Bill is generated, a unique e-Way Bill Number (EBN) is made available to the supplier,

MCA notifies vacancy for Chartered Accountants/ Cost Accountants/ Company Secretary for engagement in NFRA

Click here to download the job notification

BIG SURPRISE IN GST|NOW ONLY ONE GST RETURN ANNUALLY TO BE FILED |NEW FORM GST CMP 08 RELEASED

GOOD NEWS FOR TAXPAYERS IN GST|GSTR3B TO BE FILED AS PER OLD ITC SETOFF RULES|CIRCULAR NO 98 ISSUED

ACTIVE deadline extended, companies get time

“It has been decided to extend the date to June 15,” confirmed a corporate affairs ministry official.

The disclosure norms, which came into effect from February, make it mandatory for registered companies to upload pictures of their business premises and at least one director. The last date for compliance was Thursday, April 25.. ET had reported on Wednesday that the MCA was looking to extend the deadline.

The move came after the ministry received representations from industry associations with many companies yet to comply.

Startups have, in particular, pointed out that many of them operate out of homes or shared premises or office suites.

The government had launched a crackdown on shell companies as part of the anti-black money drive

ICSI (also ICAI) charging Rs. 500 for certified copies is illegal : Supreme Court

As per a recent judgment of the Supreme Court in ICSI v. Paras Jain [Civil Appeal No. 5665/2014, dated 11-4-2019], the High Court held that educational Bodies cannot charge more than RTI fee for providing certified copies to students. The RTI Fee as per RTI Rules, 2012 read with RTI Act, 2005 is Rs. 10 fixed per application + Rs. 2 per page. Hence, charging of Rs. 500 or Rs. 1000 per copy is

Election Guide 2019: What if your name is missing in voters list?

NEW DELHI: Once a citizen is eligible to vote and has enrolled as a voter, a voter slip from the Election Commission will be issued which confirms the citizen's name on the voter list. This slip, along with a photo ID proof recognized by the Election Commission, can act as a voter card.
If the resident fails to get the voter slip, they can check online or call the helpline to find out. In order

MCA recovers Rs 1,514 crore of depositors’ money from Peerless General Finance and Investment Company

The Ministry of Corporate Affairs (MCA) on Tuesday said it has recovered depositors’ money worth Rs 1,514 crore from the Peerless General Finance and Investment Company, which was pending with the entity for the last 15 years.
The money was recovered by the Investor Education and Protection Fund (IEPF) Authority, which is

Composition Taxable Persons are now required to file GSTR-4 ON ANNUAL BASIS till 30th APRIL every year

*BIG NEWS FOR COMPOSITION DEALERS*
_*Notification No. 20/2019 - CT dated 23.04.2019*_
*A. Composition Taxable Persons* are now required to file *GSTR-4 ON ANNUAL BASIS* till *30th APRIL every year*. - _First GSTR-4 will be filed on 30.04.2020 for F.Y. 2019-20._

*B. Composition Taxable Persons* are required to *pay tax quarterly* till *18th of month succeeding

Supreme Court sets the guidelines and the roadmap to be followed by the lower courts and authorities while dealing with the issue of Benami properties under the new law.

In P. Leelavathi vs. V. Shankarnarayana Rao the Supreme Court has set the guidelines and paved the roadmap to be followed by the lower courts and authorities while dealing with the issue of Benami properties under the new law. Advocates Ashwani Taneja & Renu Taneja have analyzed the judgement in meticulous detail and explained all of its salient features
Trend Setter judgment from Hon’ble Supreme Court on Benami Law
Brief Analysis of its far reaching implications in the implementation of New Benami Law

Section 8 private limited company available for sale

Dear Professionals,

One of my clients wants to sell off his section 8 private limited company. The Company is registered under ROC Mumbai in February 2017.  All the compliance are completed till date.  But there was not transactions since it's inception.  In case anyone is interested to buy,  kindly revert to this mail with contact details

How to generate Consolidated Eway Bills on the E Way Bill portal? Bulk e Waybill generate

ICAI has brought in major changes to May 2019 exams

No input tax credit if GST returns not filed, says HC

NEW DELHI: The Telangana high court has ruled that no input tax credit (ITC) is available unless GST returns are filed and a taxpayer is liable to pay penalty on the entire liability. The ruling is expected to have a significant impact on all businesses that use tax credits available on inputs and raw

Free GST rate finder tool

Amendments in Payment of Bonus Act 1965

Tender for Appointment of internal auditor for hsl & ssl for f.y. 2019-20

• Hindustan Salts Limited, Jaipur (30 Mar 2019) tender for Appointment of internal auditor for hsl & ssl for f.y. 2019-20
  Address :
  

Amendment in ITC utilisation Rule 88A of CGST Act w.e.f 1/4/2019 - A Big Relief

United Bank Of India invites application from Chartered Accountants for empanelment of Concurrent Auditors

ICAI: The entire IT Systems (including e-services) with respect to Members and Student Services will not be available between 6th May to 22nd May 2019

ANNOUNCEMENT For Kind Attention of Members, Firms & Students

The Institute of Chartered Accountants of India has been continuously evolving ways to automate and re-engineer processes in order to make transactions easier and user friendly. One such step has been the creation of SSP (Self Service Portal), an initiative from ICAI to make

RFP for engagement of internal auditor for IIM

• Indian Institute Of Management, Kolkata, West Bengal (05 Apr 2019) engagement of internal auditor initially for the financial year 2019-20 and 2020-21.
  Address :
  

GST UPDATE|MOST IMPORTANT THINGS IN GST TO BE DONE IN APRIL 2019|DUE DATES FOR GST IN APRIL 2019.

Tips for cleaning up your workspace

Now that higher temperatures are replacing winter's chill, it is time for the annual ritual known as spring cleaning.
While this purging, scouring, and organizing is traditionally done at home, there are benefits to doing it at work as well.
"Being organized isn't just about having a home for everything or being neat, it also allows you to be

Vacancy for CA in IIP

Recruitment for Senior Management Positions

Applications are invited for filling the following positions at its head office, Mumbai

Last Date of Submission - 30 April 2019

GST UPDATE|LAST DATE TO CLAIM INPUT TAX CREDIT FOR FY18-19|CAN WE CLAIM ITC FOR 18-19 AFTER 20.04.19

Umang Agrawal on ICAI’s Research Committee

IMMEDIATE Past Chairman of Nagpur Branch of WIRC of ICAI CA Umang V Agrawal has been nominated as a member of Research Committee of The Institute of Chartered Accountants of India, New Delhi for the year 2019-20. The Research Committee is a non-standing Committee of ICAI set up in 1955 with a view to undertake research activities to

Due date of filing GSTR-3B for the tax period March, 2019 has been extended

Due date of filing GSTR-3B for the tax period March, 2019 has been extended to 23rd April, 2019. Relevant notification is being issued for the same as per GST site

Assistant commissioner GST and a Chartered Accountant caught taking bribe by Vigilance Bureau

JALANDHAR: Vigilance Bureau(VB) on Friday arrested a Hoshiarpur based assistant commissioner Sales Tax (GST) Mobile Wing and a Tanda based chartered accountant when they were accepting bribe of Rs two lakh from a marriage palace owner. According to VB the CA was working as a

Samsung served notice for not passing GST benefits to consumers

The Directorate General of Anti-Profiteering (DGAP) has served a notice on technology major Samsung India for allegedly not passing on the benefits of GST reduction to its customers and in turn

CBDT identifies 20.4 million non-filers, asks I-T dept to take action

The Central Board of Direct Taxes (CBDT) has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns.
According to the non-filer monitoring system (NMS) of the I-T department, data for 20.4 million non-filers has been obtained between 2013 and 2017, of which 2.5 million are those who are

Ola introduces Ola Pedal: Cycle rentals in India

https://newsyoucanusebeta.blogspot.com/2019/04/ola-introduces-ola-pedal-cycle-rentals.html

RFP for engagement of internal auditors for the financial year 2019-20 of RINL

• Rashtriya Ispat Nigam Limited, Kolkata, West Bengal (09 Apr 2019) engagement of internal auditors for the orissa minerals development company ltd. for the financial year 2019-20.
  Address :
  

Steps of Filing GST Audit Report in form GSTR 9C

Recently on 14^th April 2019, GSTN opened the filing window for GST Audit Report in Form GSTR 9C. We have examined the various aspects for filing of GSTR 9C and studied the off-line template released by GSTN for filing of FORM GSTR 9C. We are enclosing a detailed note on preparation and filing aspect of Audit Report in Form GSTR 9C.

The same is summarized in below table for ease of understanding:

RFP for conduct of internal audit covering period 2019-20

• Tripura Forest Development And Plantation Corporation Limited, Agartala, Tripura  conduct of internal audit covering period 2019-20.
  Address : Agartala, Tripura
  
  

CA G Sekar's view on one of the top Tax consultants of India on 72k announcement by Mr.Rahul Gandhi

RERA Does Not Bar Homebuyers' Complaint Under Consumer Protection Act Against Builder/Developer: NCDRC

The National Consumer Disputes Redressal Commission(NCDRC) has held that Real Estate (Regulation and Development) Act 2016(RERA) does not bar filing of a complaint under the Consumer Protection Act 1986 against a builder/developer.
The bench headed by Justice R K Agrawal was dealing with a batch of complaints filed by homebuyers for compensation from Today Homes & Infrastructure Pvt Ltd for not delivering

List of Income Tax raids on politicians in south India in the run up to elections

In the run-up to the Lok Sabha elections, several high profile politicians and their business associates have been searched and raided by the Income Tax department.
The flurry of raids prompted several leaders including Chief Ministers Chandrababu Naidu and HD Kumaraswamy to point out that the raids are being done 'selectively' in order to affect the campaign of opposition leaders.

Here is a list of all the high profile I-T raids carried out in south India in the last few weeks.

Raids on opposition parties:

Urban Clap mobile app enables Chartered Accountant with COP to register on its app to get related assignments

Urban Clap mobile app enables Chartered Accountant with COP to register on its app to get related assignments. The app requires Chartered Accountant to share COP while registering as Urban Clap partner. The app user has to just select the service required and the app assigns the job to the CA

How to claim income tax refunds in 2019 in India

The Income Tax Department issues income tax refunds to the individuals who have filed excess returns over the income tax liability in a particular financial year or an assessment year.
The Income Tax Department issues income tax refunds to the individuals who have filed excess returns over the income tax liability in a particular financial year or an assessment year. According to www.incometaxindia.gov.in, when the tax paid by the taxpayer is more than the required amount,

Anti-profiteering provisions shall not apply if base price of product reduces after reduction in GST rate

CGST : Where applicant alleged profiteering by respondent on supply of Peps Spring Koil Bornell Normal Maroon 75x60x6" Mattress (HSN Code 94042910), by not passing on benefit of reduction in rate of tax of GST from 28 per cent

CBDT notifies Amendments in Form No. 16 and Form No. 24Q Salary Certificate

Click here to download the notification

New Amendments of 2019 under the Companies Act 2013 and its Action Points

The Ministry of Corporate Affairs (MCA) in the month of January & February 2019 has issued the following amendments notification under the Companies Act 2013 (the Act):
1. Changes in Companies (Significant Beneficial Owners) Rules 2018 to identify

Urgent requirement of 2 Professional / Executive Passed CS Trainees in New Delhi

Urgent requirement of 2 Professional / Executive Passed CS Trainees in a PCS Firm having office at Darya Ganj, New Delhi. Interested candidates may mail their CV to

Vacancy for 5 Chartered Accountants in Delhi

We are looking 05 Nos for energetic and experienced Chartered accountants with at least 02 year experience in either of following Direct Tax GST Audit and Assurance For Delhi offices Wazirpur

Government bars LLPs from manufacturing sector

The ministry of corporate affairs (MCA) has barred entities carrying on manufacturing activities from adopting the limited liability partnership (LLP) structure. Nor can a private company involved in manufacturing be converted into an LLP. Further, the fate of more than 10,000 existing LLPs engaged in manufacturing hangs in the balance.
Recently, a family owned entity carrying on small-scale business operations in an industrial area of

List of companies whose Employee Provident Funds are in danger of losing their investment due to IL&FS fraud

Several top-ranking multinational companies had invested their provident and pension funds in the now toxic bonds of Infrastructure Leasing and Financial Services (ILFS) putting the hard-earned money of these firms' employees at risk, reports suggest. A supplementary affidavit filed by the Ministry of Corporate Affairs (MCA) before the National Company Law Appellate Tribunal (NCLAT) earlier this week showed that as many as 1,400 firms have a total exposure of Rs 9,700 crore in the toxic IL&FS bonds, a report by news agency IANS said. This corpus of funds comes

DIR-3 KYC e-form to undergo modification

As per rule 12A of the Companies (Appointment and Qualification of Directors) Rules 2014, “every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.
Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018, shall submit e-form DIR-3 KYC on or before 5th October,2018.” However,

Get ready to disclose more to the taxman

The new ITR forms call for a host of additional disclosures from individuals as well as other assessees

The beginning of a new financial year implies that the deadline for tax-returns filing is not too far away. The recently released new tax return forms (ITRs) for this year are a reminder to this annual exercise. And

Revised SEBI Procedure/ Formats for Limited Review/ Audit Reports of Listed Entities

SEBI has notified the revised procedure/ formats for Limited Review/ Audit Reports of Listed Entities (including those entities whose accounts are to be consolidated with the listed entity), applicable w.e.f. 1 April, 2019, in line with changes suggested by Kotak Committee in the matter of

Whistleblower Alleges Deloitte Has Helped IL&FS Fudge Its Accounts Year after Year

An anonymous whistleblower, who claims to be part of the “senior management team at Deloitte, Haskins and Sells LLP (Deloitte)” and has been “privy to several internal irregularities in providing professional services to the IL&FS (Infrastructure Leasing & Financial Services) group” has written to us outlining

Amendment of law pertaining to calculation of interest u/s 50 on gross output tax liability

Introduction

1. Interest is chargeable u/s. 50 of the Central Goods and Services Tax Act, 2017 (sections referred to hereinafter refer to sections of this Act only) if there is delay in payment of tax. As per the view expressed by the officers of the Revenue, such interest is payable on the gross value of output tax

Clarification in respect of transfer of input tax credit in case of death of sole proprietor

The Board has clarified an issue in respect of transfer of input tax credit in case of death of sole proprietor vide circular no. 96/15/2019-GST dated 28^thMarch, 2019. There are so many doubts have been raised whether section 18(3) of CGST Act provides for transfer of input tax credit which remains unutilized to the transferee in case of death of the sole proprietor.

As per Rule 41(1) of CGST Rules, the registered person i.e. (transferor of business) can file FORM

Clever tricks car dealer plays | how to buy new car smartly

Walk in Interview for Inter Chartered Accountant/Inter Cost and Management Accountancy in Air India Air Transport Services Limited,

Click here to read more

AS: New Standard on leases proposed by ICAI

The Institute of Chartered Accountants of India (ICAI) has proposed a new Accounting Standard (AS), AS 17, Leases. This new Standards shall replace AS 19, Leases once notified. The exposure draft of the Standard has also been issued. It has been drafted on

Mahindra & Mahindra starts its electric cab service to BKC at very competitive rates: Glyd

Mahindra & Mahindra recently launched its all electric cab fleet consisting of its own company manufactured electric vehicles through its app Glyd. Company claims to charge lower rates than other cab services as its electric vehicles cost lower to charge and maintain. The service is

Shocks in newly notified ITRs for AY 19-20

Shocks in ITRs for AY 19-20
.
ITR-1 NOT APPLICABLE for  Residents who are :

1) Co Directors

2) Holder of Unlisted Equity shares in 2018-19.

3) Those claiming deduction from Income from Other Sources u/s  57 (other than family  pension)

Sebi issues circular on appointment of Chartered Accountants as administrators

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NEW DELHI: Sebi on Tuesday issued a circular regarding empanelment of insolvency professionals to be appointed as administrators under the regulator's framework.
An administrator has to be a person registered as an insolvency professional with the Insolvency and Bankruptcy Board of India (IBBI) and empanelled with the board from time to time.
The IBBI has been set up under the Insolvency and Bankruptcy Code.
Sebi has issued a circular on empanelment of insolvency professionals to be appointed as administrator, remuneration and other incidental and connected matters under its norms.
During the pendency of the insolvency assignment, the appointed administrator shall neither

Government to refund money for technical errors to taxpayers under GST

Elections are approaching and central government is in mood to impress GST tax payers. Businessmen are angry with government as it has charged late filing fee but did not compensate for

Devil Tax is here: This SC order requires Companies to keep detailed information of their investors or Section 68 may get attracted

Introduction

1. Sherlock Holmes was sitting in a pensive mood, smoking his pipe. A puzzled Watson asked: "What is the matter ?"Holmes said: "My dear Watson, there is one case, which I also cannot solve."Watson was really curious: "Which one?" Sherlock Holmes replied: "I have been asked by a company In India to gather details about how much money each of it's investors has in bank. Even

Draft Appeal for Section 234E in word format

Click here to download

GST | Real Estate - Handbook on New GST rates

Click here to Download the handbook

MCA introduces new e-form AGILE

MCA introduces new e-form AGILE with 3 important registrations for GSTIN, ESIC and EPFO
 The Ministry of Corporate Affairs (MCA) has notified  e-form known as AGILE -Application for Registration of the Goods and Services Tax Identification Number (GSTIN), Employees’ State Insurance Corporation (ESIC) registration plus Employees Provident Fund Organization (EPFO) registration.
This AGILE form is part of SPICE Incorporation e-form and covers three important registration for

Got a GST demand notice from taxman? These are the options you've to deal with it

Goods and services tax (GST) authorities are now tightening their reigns on those taxpayers who haven't cleared their dues. The financial year has ended and the GST collections are falling short. These shortfalls are important to cover for the authorities in the overall macroeconomic situation. The authorities, therefore, are asking taxpayers to pay the remainder of their dues.
As established under GST, the responsibility of reconciling data relies on the taxpayers. If they fail to