Chartered Accountants
(Date: 7/2/2019)
RBI has cut down repo rate by 25 basis point from 6.5% to 6.25% with immediate effect. The reverse repo rate under the LAF stands adjusted to 6.0% and the marginal standing facility rate and the bank rate to 6.5%. The decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4% within a band of +/- 2 % while supporting growth.
(Date: 1/2/2019)
Govt. has extended the due date for submitting the declaration in FORM GST TRAN-1 from January 31, 2019 to March 31, 2019 for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and whose cases have been recommended by the Council.
(Date: 31/1/2019)
The Central Board of Direct Taxes (CBDT) has notified Centralised Verification Scheme, 2019 for the purpose of issuance of notice and for processing of information or document for the purpose of section 133C. The new scheme is introduced in suppression of its earlier scheme.
(Date: 30/1/2019)
Govt. has prescribed new rules for obtaining separate registration for multiple places of business within a State or Union territory along with amendment in other rules. These rules may be called Central Goods and Services Tax (Amendment) Rules, 2018 and shall come into force on the February 1, 2019.
(Date: 29/1/2019)
The Central Government has appointed 28th January, 2019 as the date of enforcement for Requisitioning and Acquisition of Immovable Property (Amendment) Act, 2018. The said Act allows Central Government to re-issue the notice of acquisition to ensure that the owner or any other person who is interested in the property gets an opportunity to be heard.
(Date: 29/1/2019)
The Central Board of Direct Taxes (CBDT) has clarified that Official Assignee, who realizes property of the insolvent and allocated it amongst the creditors of the insolvent, is require to file Income-tax return in the ITR form applicable to ‘artificial juridical person’ separately of each of the estate of the insolvent.
(Date: 23/1/2019)
The Ministry of Corporate Affairs (MCA) has specified the e-form MSME Form I for furnishing half yearly return in respect of the amount of payment dues and the reason of the delay to Micro & Small enterprises. The e-form has to be filed by the company within 30 days from the date of publication of this notification.
(Date: 23/1/2019)
The market regulator, SEBI has amended the SEBI (Prohibition of Insider Trading) Regulations, 2015 wherein promoter group has been inserted in the regulations.
(Date: 23/1/2019)
Government has approved the creation of National Bench of the Goods and Service Tax Appellate Tribunal (GSTAT) which shall be situated at New Delhi. GSTAT shall be presided over by the President of GSTAT and shall consist of one Technical Member (Center) and one Technical Member (State).
(Date: 23/1/2019)
The Central Board of Direct Taxes (CBDT) has identified several potential non-filers who have carried out high value transactions in Financial Year 2017-18 but haven’t filed Income-tax return. Non-filers were identified through Non-Filers Monitoring System (NMS) by using data analytics. Non-filers are requested to file ITR or submit online response within 21 days.