👉 Companies (Auditor's Report) Second Amendment Order, 2020Pdf(1.37 MB)
http://www.mca.gov.in/Ministry/pdf/CompaniesSecondAmdtOrder_22122020.pdf
👉 Advisory to follow the ICAI Valuation Standards 2018 while conducting any type of Valuation Engagement to ensure uniformity and transparency issued by Valuation Standards Board ICAI - (21-12-2020)
https://www.icai.org/post/advisory-icai-valuation-standards-2018
👉 Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS)-Adv. Information Technology Test - Computer Based Mode on 12th January, 2021 - (22-12-2020)
https://resource.cdn.icai.org/62523exam50565.pdf
👉 Important Announcement for January 2021 Examination and Exam City Change Application. - (23-12-2020)
https://www.icai.org/post/january2021exam-city-change
👉 Result of the online Examination of the Certificate Course on Forex and Treasury Management held on 7th & 8th November, 2020. - (23-12-2020)
https://resource.cdn.icai.org/62528ccmip50576.pdf
.
========>
.
👉🏻RBI Cautions against unauthorised Digital Lending Platforms/Mobile Apps
(RBI cautioned users against unauthorised digital lending platforms and mobile applications that promise quick loans)
👇🏻 👇🏻 👇🏻
http://bit.ly/3aHNMIi
👉🏻Govt issued notification to curb menace of fake GST invoice by fraudsters
(FM Nirmala Sitharaman has said that the Govt has issued a notification to curb the menace of fake GST invoice by fraudsters or fly-by-night firms)
👇🏻 👇🏻 👇🏻
http://bit.ly/2JfLjcM
.
========>
.
⚫Indian economy is recovering faster than expected and may post minor positive growth in the third quarter, but efforts need to be redoubled to fight inflation so that it doesn’t hurt the incipient growth impulses, according to the RBI. Indian economy is pulling out of Covid-19’s deep abyss and is reflating at a pace that beats most predictions.
⚫Pandemic pain over, sales show e-commerce to accelerate in India in 2021. E-commerce firms like Amazon, Flipkart, Myntra and others witnessed successful festive season sales this year.
⚫The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000/gm of gold. The Sovereign Gold Bond Scheme 2020-21, Series IX will be open for subscription from Dec 28, 2020 to Jan 1, 2021.
⚫The Govt extended a fresh invite to protesting farmer unions for talks, but made it clear that it would not be "logical" to include in the agenda any new demand related to MSP, saying it was out of the purview of three new farm laws. Previous five rounds of talks between the Govt and the unions have failed to break the deadlock with the farmers insisting on the repeal of the three laws and camping at various border points of Delhi for nearly a month now.
⚫The mutated coronavirus strain that’s been spreading in the UK appears to be more contagious and will likely lead to higher levels of hospitalizations and deaths next year. The variant is 56% more transmissible than other strains.
.
========>
.
NN: 94/2020/CT Dtd. 22.12.2020
Central Goods and Services Tax (FourteenthAmendment) Rules, 2020.
Substitution of Sub-Rule 4A of Rule 8
In the Central Goods and Services Tax Rules, 2017 (here in after referred to as the said rules), in rule 8, for sub-rule (4A), *with effect from a date to be notified*, the following sub-rule shall be substituted, namely: -
“(4A)Every application made under rule (4) shall be followed by—
(a) biometric-based Aadhaar authentication and taking photograph, unless exempted under sub-section (6D) of section 25, if he has opted for authentication of Aadhaar number;
or
(b) taking biometric information, photograph and verification of such other KYC documents, as notified, unless the applicant is exempted under sub-section (6D) of section 25, if he has opted not to get Aadhaar authentication done,
of the applicant where the applicant is an individual or of such individuals in relation to the applicant as notified under sub-section (6C) of section 25 where the applicant is not an individual, along with the verification of the original copy of the documents uploaded with the application in FORM GST REG-01at one of the Facilitation Centres notified by the Commissioner for the purpose of this sub-rule and the application shall be deemed to be complete only after completion of the process laid down under this sub-rule.”
.
========>
.
☀️☀️#GST Updates
The Government has notified various changes in the GST Act,mostly effective from 1st of January,2020 which includes the following-
✔️Time limit for system-based GST Registration increased
✔️Cancellation of GST Registration in case ITC exceeds than that permissible u/s 16
✔️Restriction on claim of ITC as per Rule 36(4) (reduced from 10% to 5%)
✔️Blocking of GSTR 1 in case of non-filing of GSTR 3B(in addition to blocking of E-wayBill)
✔️Newly inserted Rule 86B-Restriction on Utilization of Input Tax Credit
✔️Validity of E way bill
.
========>
.
LEGAL-KNOWLEDGE CAPSULE
✒ Supreme Court issues show-cause notice to convict for misleading it to get favourable order.
✒ Delhi High Court seeks response in Indian singers rights association's plea seeking royalty for perfomance in Gunjan Saxena.
✒ *Bombay High court increases rapist's jail term from the original 3 years to 7 years and stated "A sentence should be proportionate to gravity of offence . Social position of the accused is irrelevant "
✒ Karnataka High court ordered SHO to clean road in front of police station he is in charge of, for one week for failing to register FIR, Cops to file qppeal .
.
========>
.
⚫India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said.
⚫PM launched the Ayushman Bharat scheme to extend health insurance coverage to all residents of Jammu and Kashmir.The scheme will provide free-of-cost insurance cover to all residents of the UT of Jammu and Kashmir, adding that it will extend financial cover of up to Rs 5 lakh per family on a floater basis to all residents of the UT.
⚫Coal India Ltd is set to diversify into non-coal mining areas as well as make major investments in clean technology in 2021 after demand for the dry fuel remained muted for most of this year amid the coronavirus pandemic impacting economic activities.
⚫The mandatory requirement of 1% cash payment of GST liability with effect from January 1 would be applicable to about 45,000 taxpayers, which is only 0.37% of the total businesses registered in the GST system.
⚫The protesting farmers accepted the Govt's offer of talks and said that they are willing to come for discussion on Dec 29, provided the Centre lays down the modalities for repeal of three controversial farm acts, comes out with an action plan on providing a legal guarantee for procurement of crops at the MSP and also clear its stand on the draft electricity amendment bill and pollution ordinance.
.
==============>
.
📲 Download my official Android app "Updates by CARJ" 📚 to stay connected with latest news and updates 📝
Thanks for reading
