MCA has introduced a new form w.e.f. 23rd March, 2020. The web form named CAR (Company Affirmation of Readiness towards COVID-19) should be filed by an authorised signatory of Companies and LLPs with the MCA Following entities have to file this form: Company LLP...

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Date extension for compliance with SEBI

A.   Extension of timeline for filings: The timelines for certain filings as required under the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are extended, as follows: Sl no. Regulation             and associated filing...

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Debit note and Credit note under GST

Introduction There comes a time when humans error in making an entry or a transaction. These cases often lead to variation and a further reconciliation is required between the interacting parties to make correct, such variation. Such an erroneous situation leads to...

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Value of lottery for GST

In the Central Goods and Services Tax Rules, 2017, with effect from the 1st March, 2020, in rule 31A, for sub-rule (2), the following sub-rule shall be substituted for ascertaining face value of lottery:, namely:-  “(2) The value of supply of lottery shall be deemed...

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194IB – TDS on rent by individuals and HUF

Listen to the audio episode on spotify or other platforms Points to be remembered by the Tenant of the Property while deducting TDS on rent: All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident...

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Newsletter for February 2020 by Accountingbuzz

Content for newsletter DOWNLOAD SAMPLE NEWSLETTER  Sub-sections (11) and (12) of Section 230 have been notified on 03.02.2020 Sub-sections (11) and (12) of section 230 pertaining to Power to Compromise or Make Arrangements with Creditors and Members (11) Any...

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GST new return forms – RET-1,2,3

Listen to our podcast Do I have to select the GST new return applicable? Periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for. Profile Updation Intimation of option for return periodicity and...

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Due Date Compliance Calendar for March 2020

Key due dates for Compliance for the month of March 2020 02nd March 2020 194 IA, 94 IB, 194 IM TDS challan cum return for January 2020 07th March 2020 TDS Payment TCS Payment 10th March 2020 GSTR 8 GSTR 7 11th March 2020 GSTR 1 13th March 2020 GST return for ISD 15th...

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Rule 23A Nidhi Rules 2014 (NDH-4)

FORM NDH-4 Form for filing application for declaration as Nidhi Company and for updation of status by Nidhis. The due date for filing of NDH-4 are as follows:- Particular Due date For every new Nidhi Company – Due date for filing of Form NDH-4 by the Nidhi...

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Filing of forms ln the Registry MCA-21 by the Insolvency Professional (Interim Resolution Professional (IRP| or Resolution Professional(RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016).

Several requests have been received in the Ministry with respect to filing of documents in the MCA-21 registry where an Insolvency Professional (lnterim Resolution Professional (lRP) or Resolution Professional (RP) or Liquidator) has been appointed under IBC, 2016 in...

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Vivad se Vishwas Bill 2020

The Vivad se Vishwas scheme was announced by Union Finance Minister Nirmala Sitharaman during her budget speech on February 1, 2020.  Listen to our podcast for quick understanding of the Vivad se Vishwas Scheme Brief about the bill What? Under this scheme, taxpayers...

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GST interest on gross liability or net basis

There are some discussions in social media w.r.t. GST interest calculation on delayed GST payments post a few media reports regarding Rs. 46000 Cr interest on the delayed GST payments to be collected by tax authorities. On this issue of interest calculation, it is...

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