💡Very Important
ICAI needs your expert comments
✏ Exposure Draft of Standard on Internal Audit (SIA) 360,Communication with Management (Comments to be received by March 28, 2019) https://resource.cdn.icai.org/54294iasb-sia360.pdf
✏ Exposure Draft of Standard on Internal Audit (SIA) 370,Reporting Results to Management (Comments to be received by March 28, 2019) https://resource.cdn.icai.org/54295iasb-sia370.pdf
✏ Exposure Draft of Standard on Internal Audit (SIA) 240, Using the Work of an Expert (Comments to be received by March 28, 2019) https://resource.cdn.icai.org/54293iasb-sia240.pdf
✏ Exposure Draft of Standard on Internal Audit (SIA) 230,Objectives of Internal Audit (Comments to be received by March 28, 2019) https://resource.cdn.icai.org/54292iasb-sia230.pdf
✏ Exposure Draft of Standard on Internal Audit (SIA) 110,Nature of Assurance (Comments to be received by March 28, 2019) https://resource.cdn.icai.org/54291iasb-sia110.pdf
✏ Exposure Draft of Guidance Note on Accounting of Political Parties (Comments to be received by April 6, 2019) https://resource.cdn.icai.org/54300asb43587indasapp.pdf
✏ Exposure Draft of Definition of Material (Amendments to Ind AS 1 and Ind AS 8) (Comments to be received by April 6, 2019) https://resource.cdn.icai.org/54298asb43587indas8.pdf
✏ Exposure Draft of Definition of Business (Amendments to Ind AS 103) (Comments to be received by April 6, 2019) - https://resource.cdn.icai.org/54299asb43587indas103.pdf
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“The Resolution Professional is not required to express his opinion on matters within the domain of the financial creditors, to approve or reject the
resolution plan, under section 30(4) under the I&B Code”.
RP (Resolution Professional) is acting as an officer of the Court and any hindrance in the working of the CIRP will amount to contempt of court.”.
"It is to be clarified that RP is discharging her duties as Court Officer and any non-compliance of the Court Officer will be deemed as Contempt of Court.
The legislature has not endowed the
adjudicating authority (NCLT) with the jurisdiction or authority to analyse or evaluate the commercial decision of the CoC much less to enquire into the justness of the rejection of the
resolution plan by the dissenting financial creditors.” It further observed: “Besides, the commercial wisdom of the CoC has been given paramount status without any judicial intervention, for ensuring completion of the stated processes within the timelines prescribed by
the I&B Code. ………. The legislature, consciously, has not provided any ground to challenge the “commercial wisdom” of the individual financial creditors or their collective decisionbefore the adjudicating authority. That is made non-justiciable.
“The CoC is called upon to consider
the resolution plan under section 30(4) after it is vetted and verified by RP as being compliantwith all the statutory requirements specified under section 30(2).
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🏵 IMPORTANT DUE DATES IN THE MONTH OF MARCH 2019
A. Due dates for Compliances under GST
10-03-2019- GSTR 8 for E-Commerce operators for the m/o Feb 2019
10-03-2019 - Filing GSTR-7 (for assessee who is required to deduct TDS under GST) for the m/o Feb 2019
11-03-2019- GSTR -1 for the month of Feb 2019 for taxpayers with Annual Aggregate turnover More than 1.50 Crore
13-03-2019- GSTR-6 for Input Service Distributor
20-03-2019- GSTR-3B for the m/o Feb 2019
31-03-2019- Extended date of Filing GST TRAN-1
31-03-2019- ITC-04 for the period July 2017 to Dec 2018
31-03-2019- Due date of claiming ITC for last FY invoices.
B. Due dates for Compliance under Income tax
02-03-2019 - Furnishing challan-cum-statement in respect of tax deducted u/s 194-IA/194IB in month of Jan'19
07-03-2019 - Deposit of TDS/TCS for m/o Feb 2019
15-03-2019 - Deposit of last installment of Advance tax for FY 2018-19
17-03-2019- Issue of TDS Certificate for tax deducted under section 194-IA/194-IB in m/o Jan'19
30-03-2019 - Furnishing challan-cum-statement in respect of tax deducted u/s 194-IA/194IB in month of Feb'19
31-03-2019 – Due date for linking of Aadhaar number with PAN
31-03-2019 - Due date of filing belated IT for FY 2017-18
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Statutory Branch Auditors appointment in Banks FY 2018-19
Panel of Statutory Bank Auditor has been received by various bank. Banks have started sending mail to the empanelled Auditors. Process is still not over. Members who have applied for the same are requested to check their mail boxes regularly.
https://studycafe.in/2019/03/statutory-branch-auditors-appointment-in-banks-fy-2018-19.html