Key Recommendations in 47th Meeting of the GST Council – 28th and 29th June ,2022
The GST COUNCIL has made the following recommendation relating to changes in the GST rates on supply of goods and services and changes related to GST law and procedures: RECOMMENDATIONS RELATING TO GST RATES ON GOODS AND SERVICES Refunds of accumulated ITC will not be allowed on Edible oils and Coal Rate Rationalization to remove […]
FORM NO. INC-9 – Declaration by Subscribers and First Directors.
The Companies (Incorporation) Second Amendment Rules, 2022- substituted FORM NO. INC-9 – Declaration by Subscribers and First Directors. The Ministry of Corporate Affairs (MCA) vide its Notification dated May 20, 2022, has notified Companies (Incorporation) Second Amendment Rules, 2022.Through this amendment, the Ministry has substituted Form No. INC-9. The new form will be effective from 1st June […]
Relaxation in paying additional fees for LLP up to 30th June, 2022
Relaxation in paying additional fees in case of delay in filing Form 11(Annual Return) and all the event based e-forms by Limited Liability Partnerships up to 30th June, 2022The Ministry of Corporate Affairs (hereinafter referred to as “MCA”) in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of […]
GST ON CRYPTOCURRENCY TRANSACTIONS
GST on CryptoCurrency – subject matter of dispute from the taxability Cryptocurrency is made up of two different words, “crypto” and “currency”. Hence, it can be said that cryptocurrencies are currencies that use the science of cryptography. This is because these currencies widely use encryption techniques. This means that encryption techniques are used for two […]
Maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm
There is a maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm. During this interval, the e-Invoice services will not be available for the GST taxpayers of the following states ONLY. Also please note that e-waybill portal and e-waybill APIs will function as usual without any problem for all […]
₹1,40,885 crore gross GST Revenue collection for May 2022; increase of 44% year-on-year
GST collection crosses ₹1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March 2022 Posted On: 01 JUN 2022 1:28PM by PIB Delhi The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of […]
Upcoming Important dates in June 2022 for compliance under Goods and Services Tax (GST).
GST Return Due date Description GSTR-1 (May, 2022) 11-06-2022 Turnover more than 5 crore or opted to file monthly return IFF(Optional) – May 2022 13-06-2022 Opted for Quarterly filing as per QRMP scheme GSTR-3B (May 2022) 20-06-2022 Turnover more than 5 crore or opted to file monthly return PMT-06 25-06-2022 Who has opted to file […]
AUTOMATION OF CONTINUAL DISCLOSURES UNDER REGULATION 7(2) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 2015
SEBI has notified a circular ref no SEBI/HO/ISD/ISD/CIR/P/2021/578 dated June 16, 2021 for automation of continual disclosures under regulation 7(2) of Sebi (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – system driven disclosures for inclusion of listed debt securities. The system driven disclosures have already been implemented for entities of a listed company under […]
MCA GENERAL CIRCULAR FOR HOLDING OF AGM THROUGH VC OR OAVM UP TO DECEMBER 31, 2022
MCA GENERAL CIRCULAR NO. 02/2022 DATED 05TH MAY, 2022 FOR HOLDING OF AGM THROUGH VC OR OAVM UP TO DECEMBER 31, 2022 The MCA in continuation to its previous General Circulars (last being General Circular No. 21/2021 dated 14th December, 2021), issued in respect to allowing Companies to hold AGM through video conferencing (VC) or […]
CLARIFICATION ON VALIDITY OF OMNIBUS APPROVAL GRANTED BY THE SHAREHOLDERS IN RELATION TO RELATED PARTY TRANSACTIONS
The Securities and Exchange Board of India (“hereinafter referred to as SEBI”), on April 8, 2022 has issued Clarification (ref no SEBI/HO/CFD/CMD1/CIR/P/2022/47 on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(“hereinafter referred to as SEBI LODR”) in relation to Related Party Transactions (“hereinafter referred to […]