ROC Date Extended:*
DUE Date of AOC 4 & AOC 4 Xbrl both extended till 28.11.2017 without any additional fees vide circular no.14/2017 dtd 27.10.17.
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Activities of ‘Preservation of Environment’ are charitable in nature: ITAT Grants Relief to Gujarat Environment Service Society [Read Order]
Read more at: http://www.taxscan.in/activities-preservation-environment-charitable-nature-itat-grants-relief-gujarat-environment-service-society-read-order/12609/
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*As per Notification No. 42/2017-Integrated Tax (Rate) dated 27-10-2017*
Supply of services having place of supply in Nepal or Bhutan, against payment in Indian Rupees is Notified as NIL rated
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Activities of ‘Preservation of Environment’ are charitable in nature: ITAT Grants Relief to Gujarat Environment Service Society [Read Order]
Read more at: http://www.taxscan.in/activities-preservation-environment-charitable-nature-itat-grants-relief-gujarat-environment-service-society-read-order/12609/
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*GSTR 2.1 Utility released*. You can export B2B data in excel and make changes and import back in excel. You can Accept, Reject, Modify, Keep pending, Add invoices or Delete invoices in the Excel
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Purchasing Two separate houses in different localities would disentitle Assesse from claiming Capital Gain Exemption u/s 54: ITAT [Read Order]
Read more at: http://www.taxscan.in/purchasing-two-separate-houses-different-localities-disentitle-assesse-claiming-capital-gain-exemption-us-54-itat-read-order/12599/
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Companies Act :
Where there is no material on record to show that the preference shares were not subscribed by the erstwhile Financial Corporation, and those preference shares were offered as security for the loan availed from it, then the plea of the appellant that those shares were a part of 'Corporate Debt Restructuring' (on transfer of debt by an assignment deed) could not be entertained, and sale of those shares by the Financial Corporation was not impeachable on the basis of material on record, because no provision in the Companies Act, or the Indian Contract Act, prohibit the owner of such preference shares to deal with the same. *Prag Bosimi Synthetics Ltd. vs. 3A Capital Ltd. and Others. MANU/GH/0328/2017*
IBC :
Moratorium shall only prohibit the action against the properties reflected in the balance sheet of the Corporate Debtor and shall have no application on the properties beyond the ownership of the Corporate Debtor. Consequently, the order of the Court directing the court commissioner to take over the possession shall not fall within the clutches of moratorium. *Schweitzer Systemtek India (P.) Ltd. vs. Phoenix ARC (P.) Ltd. MANU/NC/0795/2017*
(NOTE : The above judgment has been upheld by the Hon'ble NCLAT)
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GST: CBEC Advertises Anti-Profiteering Authority
Read more at: http://www.taxscan.in/gst-cbec-advertises-anti-profiteering-authority/12569/
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CBEC Launches E-Sanchit: Traders can now Upload Documents Online
Read more at: http://www.taxscan.in/cbec-launches-e-sanchit-traders-can-now-upload-documents-online/12573/
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CBDT have revised E-filing Income Tax Return Preparation Utilities for filing of all types of Income Tax Return Forms, Tax Audit Report and also the schema for Tax Audit Reports. last date is 31st October 2017. https://incometaxindiaefiling.gov.in/.
31 Oct is LAST DAY to file ITR (Audit), Tax Audit & MAT, TDS Returns (Q2), GSTR-2 (Jul), & GST ITC-1 (ITC on stock new reg). 30 Oct for Balance Sheet with MCA (30Sep AGM).
The last date of filing FORM GST TRAN – 1 has been extended to November 30, 2017 along with revision facility. Earlier the last date for filing FORM GST TRAN – 1 was October 31, 2017.
GST registration can now cancelled on GSTN portal. (The utility REG 29 is available on the portal just below the profile section once a taxpayer logs into GSTN.)
MCA has issued clarification regarding approval of resolution plans under section 30 and 31 of Insolvency and Bankruptcy Code, 2016: http://www.mca.gov.in/Ministry/pdf/CircularIBC_25102017.pdf.
Last date for filing AOC-4 for XBRL {IND AS} extended till 31st March 2018.
