Taxsutra Breaking News : CBDT mulls tax audit due date extension, notification likely early next week - http://taxsutra.com/news/21061/CBDT-mulls-tax-audit-due-date-extension-notification-likely-early-next-week
Finance Ministry notified that e-commerce operators shall collect an amount at the rate of one per cent as TCS under the GST on the supplies made by them. Of the amount collected, half will go to the Centre and half to the State where the supply takes place.
DIR-3 KYC fee has been reduced to INR 500/- from INR 5,000/- for 15 days, amendment notification dated 20.09.2018 vide Companies (registration office and Fees) 5th Amendment Rules, 2018.
MCA have issued notification dated 10.9.2018 containing, inter alia, rules for unlisted Public Companies effective from 2.10.2018:- to Issue securities only in Demat form and Facilitate dematerialization of all its existing securities.
Ind AS 20 amended; allows adjustment of grant income with cost of asset: Government grants related to assets, including non-monetary grants at fair value, shall be presented in the balance sheet either by setting up the grant as deferred income or by deducting the grant in arriving at the carrying amount of the asset.
India Post Payments Bank Limited invites sealed tender offers to empanel Bidders for Concurrent Audit in accordance with the scope set out in the tender document. Portal www.eprocure.gov.in.
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ITAT condones Delay of 387 Days in filing Appeal since Assessee was fighting with Chartered Accountant who filed False Returns [Read Order]
Read more at: http://www.taxscan.in/itat-condones-delay-387-days-filing-appeal-assessee-fighting-chartered-accountant-filed-false-returns/28647/
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No E-Way Bill for Intra-City Movement of Goods in Gujarat [Read Notification]
Read more at: http://www.taxscan.in/no-e-way-bill-intra-city-movement-goods-gujarat/28659/
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Services by Commission Agents to Agriculturists of Turmeric is ‘ Support Services ’, No GST: AAR [Read Order]
Read more at: http://www.taxscan.in/services-commission-agents-agriculturists-turmeric-support-services-no-gst-aar/28668/
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The suggested 3 classes of Digital Signature Certificate are the following :-
Class 1 Certificate: Class 1 certificates shall be issued to individuals/private subscribers. These certificates will confirm that user's name (or alias) and E-mail address form an unambiguous subject within the Certifying Authorities database.
Class 2 Certificate : These certificates will be issued for both business personnel and private individuals use. These certificates will confirm that the information in the application provided by the subscriber does not conflict with the information in well-recognized consumer databases.
Class 3 Certificate : This certificate will be issued to individuals as well as organizations. As these are high assurance certificates, primarily intended for e-commerce applications, they shall be issued to individuals only on their personal (physical) appearance before the Certifying Authorities
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GOOD NEWS: B2B CLASSIFIED AS B2C CAN BE AMENDED
September 2018 is the last month to avail Input tax credit of Financial year 2017-18. There are many instances where many B2B transactions were classified as B2C, also there was no way to amend the same. Now we can amend wrong classification of B2B as B2C.
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CAs appeal to Govt for Tax Audit Due Date Extension, Starts Hashtag Campaign in Twitter
Read more at: http://www.taxscan.in/cas-appeal-govt-tax-audit-due-date-extension-starts-hashtag-campaign-twitter/28676/
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Service Tax on Royalty: Gujarat HC Stays Demand [Read Order]
Read more at: http://www.taxscan.in/service-tax-royalty-gujarat-hc-stays-demand/28705/
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Income Tax Exemption to MIDC for payment on Land Lease Receipts: ITAT [Read Order]
Read more at: http://www.taxscan.in/income-tax-exemption-midc-payment-land-lease-receipts-itat/28696/
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Bombay HC freezes Criminal Prosecution during Pendency of Stay Application against Assessment Order [Read Order]
Read more at: http://www.taxscan.in/bombay-hc-freezes-criminal-prosecution-pendency-stay-application-assessment-order/28700/
