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corporate and professional updates 14th April 2018

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corporate and professional updates 14th April 2018

Direct Tax:

Delhi High Court held that Reopening after 4 years with approval of DIT instead of JCIT is invalidYum! Restaurants Asia Pte. Ltd. Vs. Dy. DIT & Ors. (Delhi High Court)
HC: Dismisses Revenue’s appeal; Confirms location savings, human & supply-chain intangibles TP-adjustment deletion[TS-230-HC-2018(DEL)-T P]
ITAT: Can’t exclude companies with operating losses considering functional similarity and profits at GP-level [TS-188-ITAT-2018(Kol )-TP]
Delhi ITAT held that the AO cannot pass the assessment order under Section 143(3) of the Income Tax Act against a struck off company. M/s. Anujay Hycare vs. ITO.
CBDT notifies Income Tax Return Forms for Assessment Year 2018-19

Indirect Tax:

CESTAT Delhi held the finished products which are different types of food preparations and are new marketable products and are liable to excise duty subject to due classification as available in the Central Excise Tariff.M/s Bharat Hotel Limited Vs CCE (CESTAT Delhi)

FAQ on E-WAY BILLS:

Query: In case the consignor or consignee is not having, what is to be entered in GSTIN column?
Answer: If the consignor or consignee is unregistered taxpayer and not having GSTIN, then the user can enter URP (Unregistered Person) in the corresponding GSTIN column.

MCA updates

Amendment in table F & H of schedule I of Companies Act, 2013, in context of MOA and AOA. MCA Notification dated 10.04.2018.
MCA has issued a notification to amend the Schedule I of Companies Act, 2013. every certificate as may be issued by the Company, shall specify the shares to which it relates and the amount paid-up thereon and shall be signed by two directors or by a director and the company secretary.

Rbi updates

RBI has ruled out any relaxation in bad loan rules, saying the tough norms will discipline borrowers and prevent banks from pushing distressed loans under the carpet.

SEBI updates

SEBI is planning to tighten rules governing the appointment process for top executives at market infrastructure institutions (MIIs) such as exchanges, clearing corporations and depositories.

Other updates

Govt and the Unique Identification Authority of India (UIDAI) on Wednesday told the Supreme Court that no Aadhaar card has been duplicated.

Key Dates:

Due date for payment of PF for the month of March: 15.04.2018
Filing of GSTR-4 for jan-2018-march-2018: 18.04.2018
Read more about: What is core Business Activity GST

All about GST Offenses, Penalties, and Appeals

Tags: 2013Amendment in table F & H of schedule I of Companies ActAO cannot pass the assessment order under Section 143(3) of the Income Tax ActCBDT notifies Income Tax Return Forms for Assessment Year 2018-19E-WAY BILLSMCA has issued a notification to amend the Schedule I of Companies Act

6 years ago

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.