Chartered Accountants
(Date: 7/12/2018)
Regulation 7B of SEBI (Mutual Fund) Regulations, 1996 is amended to provide 1 year time to sponsors of the mutual funds to comply with norms for shareholding and Governance of Mutual funds where they inadvertently acquire shares or voting rights due to merger or acquisition
(Date: 6/12/2018)
On the basis of an assessment of the current and evolving macroeconomics situation, the Monetary Policy Committee has decided to keep the policy repo rate under the Liquidity Adjustment Facility unchanged at 6.5 %. Consequently, the reverse repo rate under LAF remains at 6.25 % and the marginal standing facility rate and the bank rate at 6.75 %.
(Date: 4/12/2018)
The Securities and Exchange Board of India (SEBI) had decided that listed securities held in physical form shall not be transferred with effect from December 5, 2018. Subsequently, it has received representations from shareholders for extension of the deadline. So, now it has been decided to extend the deadline from December 5, 2018 to April 1, 2019.
(Date: 1/12/2018)
The CBIC has released the 30 FAQs on TCS under GST. All FAQs are updated till November 30, 2018.
(Date: 30/11/2018)
The CBIC has extended the due date for filing of GSTR-7 (Return for authorities deducting tax at source) for the months of October, 2018 to December, 2018 till January 31, 2019.
(Date: 27/11/2018)
The CBIC has prescribed the procedure for processing IGST refund claims for exports made from Non-EDI ports. The attachment contains the step-by-step procedure for processing the IGST refund claims.
(Date: 27/11/2018)
The Government of India and the Government of China have amended the Double Taxation Avoidance Agreement (DTAA) by signing a Protocol on 26/11/2018. Protocol updates the existing provisions for exchange of information to the latest international standards. Further, it incorporates changes required to implement treaty related minimum standards under the Action reports of Base Erosion & Profit shifting (BEPS) Project, in which India had participated on an equal footing.
(Date: 20/11/2018)
The GST Practitioners Exam has been postponed to December 17, 2018 on account of Assembly Elections in some of the States.
(Date: 14/11/2018)
The Government lays down NFRA Rules, 2018. The rules shall be applicable on all listed Companies and other specified classes of companies. The Rules prescribes functions and duties of the Authority. It requires specified auditors to file annul return with the authority on or before 30th April year. Now NFRA shall receive recommendations from ICAI on proposals for new accounting and auditing standards.
(Date: 8/11/2018)
In order to strengthen the regulatory framework, the Ministry of Corporate Affairs (MCA) has suggested more changes of the purpose of amendments in the Companies Act, 2013. The proposed amendments are related to Memorandum and Article of Association, Deposit, Beneficial owners, Corporate Social Responsibility, NFRA, directors, compromise and arrangement and so on.