{"id":2738,"date":"2016-10-03T12:07:47","date_gmt":"2016-10-03T06:37:47","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2738"},"modified":"2023-12-02T10:38:55","modified_gmt":"2023-12-02T05:08:55","slug":"corporate-and-professional-update-oct-1-2016-2","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE  OCT 1, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d72951b08c3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d72951b08c3\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/#DIRECT_TAX\" title=\"DIRECT TAX:-\">DIRECT TAX:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/#INDIRECT_TAX\" title=\"INDIRECT TAX:-\">INDIRECT TAX:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/#GST_UPDATES\" title=\"GST UPDATES:-\">GST UPDATES:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/#ICAI_Updates\" title=\"ICAI Updates:\">ICAI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-oct-1-2016-2\/#Key_Dates\" title=\"Key Dates:\">Key Dates:<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\">Professional Update For the Day:<\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/04\/Untitled55.png\" alt=\"Untitled55\" \/><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><strong><u>DIRECT TAX:-<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Punjab and Haryana High court in the below citied case held that if the maintenance charges etc. are stipulated to be payable by the licencee or the lessor it must form a part of the rent for the purpose of computing the annual value of the property\u00a0while calculating Income frm House Property.( Sunil Kumar Gupta Vs. ACIT, Circle-II, Amritsar)<\/p>\n<p style=\"text-align: justify;\">ITAT Kolkata in the below citied case held that revision u\/s 263 is valid where there is a difference of<a href=\"https:\/\/carajput.com\/tds.php\"> TDS<\/a> as per 26AS and TDS as declared in the Retun of Income and AO failed to make inquires.(\u00a0M\/s. PBN Construction (P) Ltd., Siliguri Vs.\u00a0Pr. C.I.T. \u2013 Siliguri)<\/p>\n<p style=\"text-align: justify;\">ITAT Chennai in the below citied case held that\u00a0Since the transaction was relatable to acquisition of capital asset, namely, plant and machinery by way of import from Japan, this Tribunal is of the considered opinion that the gain due to foreign exchange fluctuation would definitely be on the capital field.( M\/s Renault India Pvt. Ltd. Vs. The Dy.\u00a0CIT, Chennai)<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><u>INDIRECT TAX:-<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">There is no service tax liability on banking and financial service on income earned towards leasing out of certain machines where agreement was for providing lease\/ right by the respondent to the third party for use of plant and machinery for a period of five year.( CCE, Indore Versus M\/s Gajra Gears Pvt. Limited)- 2016 (9) TMI 1111 &#8211; CESTAT NEW DELHI &#8211; Service Tax<\/p>\n<p style=\"text-align: justify;\">There will ne no penalty on appellant where he had bonafide believed that he is not liable to pay service tax but during the audit the audit party informed him that he is liable to pay service tax then he immediately paid the entire service tax along with interest.( M\/s Memco Associates (India) Pvt. Ltd. Versus The Commissioner of Service Tax, Bangalore)- 2016 (9) TMI 1109 &#8211; CESTAT BANGALORE &#8211; Service Tax<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"GST_UPDATES\"><\/span><strong><u>GST UPDATES:-<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">GST:\u00a0CBEC releases Draft GST Registration Rules, GST Payment Rules and <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Invoice Rules with formats.<\/p>\n<p style=\"text-align: justify;\"><strong>MCA has released the revised the versions of e-Forms<\/strong>\u00a0\u2013<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"187\"><strong>FORM NAMES<\/strong><\/td>\n<td width=\"451\"><strong>PARTICULAR<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"187\"><strong>Form\u00a023AC<\/strong><\/td>\n<td width=\"451\">Filing balance sheet and other documents\u00a0with the Registrar\u00a0underCompanies Act, 1956<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"187\"><strong>Form 23ACA<\/strong><\/td>\n<td width=\"451\">Filing Profit and Loss account and other\u00a0documents with the Registrarunder\u00a0Companies Act, 1956<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"187\"><strong>Form CHG-1<\/strong><\/td>\n<td width=\"451\">Application for registration of creation, modification of charge (other than those related to debentures)<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"187\"><strong>Form\u00a0CHG-9<\/strong><\/td>\n<td width=\"451\">Application for registration of creation or modification of charge for debentures or rectification of particulars filed in respect of creation or modification of charge for debentures<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"187\"><strong>Form CRA-2<\/strong><\/td>\n<td width=\"451\">Form of intimation of appointment of cost auditor by the company to Central Government.<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">The Ministry of Corporate Affairs (MCA) has made an\u00a0amendment\u00a0to the Companies (Management and Administration)\u00a0Rules, 2014. These\u00a0rules\u00a0may be called\u00a0<a href=\"https:\/\/www.mca.gov.in\/Ministry\/pdf\/CompaniesMgtAdminAmendmentRules2016.pdf\">the Companies (Management and Administration) Amendment Rules, 2016<\/a>\u00a0which shall come into force on the date of their publication in the Official Gazette.<\/p>\n<p><strong>Read our articles:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/e-invoice-mechanism-under-the-gst\/\"><strong>E-Invoice Mechanism under the GST<\/strong><\/a><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/blocking-the-e-way-bill-creation-system-if-fails-to-file-gstr-3b-gstn\/\">Blocking\/Unblocking the E-Way Bill creation system if fails to file GSTR-3B: GSTN<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/blog\/reasons-for-the-movement-of-goods-under-the-gst\/\">Reasons for the Movement of Goods under the GST<\/a><\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"ICAI_Updates\"><\/span><strong><u>ICAI Updates:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ICAI has issued a Guidance Note on Combined and Carve-Out Financial Statements(September 2016) dated on 28\/09\/2016<\/p>\n<p>ICAI has published an overview (Revised 2016) on Indian Accounting Standard (Ind As) dated on 26\/09\/2016.<\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><strong><u>Key Dates:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Excise payment for Non SSI for the month of September by G.A.R.- 7 challan(6th if paid electronically)-05\/10\/2016<\/p>\n<p style=\"text-align: justify;\">Service tax payment for company for the month of September by G.A.R.- 7 challan(6th if paid electronically)-05\/10\/2016<\/p>\n<p style=\"text-align: justify;\">Service tax payment for Individuals\/Proprietory\/ Partnership Firms for the quarter ended by G.A.R.- 7 challan(6th if paid electronically)-05\/10\/2016<\/p>\n<p style=\"text-align: justify;\">Payment of TDS\/TCS challan No. 281-07\/10\/2016<\/p>\n<p style=\"text-align: justify;\">\u00a0&#8220;Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.\u201d<\/p>\n<p style=\"text-align: justify;\">&#8220;Never mind what others do; do better than yourself, beat your own record from day to day and you are a success.\u201d<\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0<a href=\"https:\/\/l.facebook.com\/l.php?u=http%3A%2F%2Fwww.carajput.com%2F&amp;h=gAQHsWv16AQFzlc4f70dAECucTda_B9jilKfCgneeqqu7PA&amp;enc=AZPUk1qSy7_DGmookvElFjnUXYX3K0FPXVQ6LxfUnjgljqDX0P6jFZnpNH5t7Yt6TpvPD_TBP30DWaadPDKvaBy4FKUuIg27nk64qxy4GjjzfG96BrSAO9DKSM7QZ-zRr0H_1seDnwx81zv7LENE7mngqEq05doeSutrNoPIQRvjIbEFb_PEZA8D1pUlJzy7MCsIwWN_xt9o3UmaFFdtL9S1&amp;s=1\">www.carajput.com<\/a><\/p>\n<p style=\"text-align: justify;\">FOR FURTHER QUERIES CONTACT US:<\/p>\n<p style=\"text-align: justify;\">W:\u00a0<a href=\"https:\/\/l.facebook.com\/l.php?u=http%3A%2F%2Fwww.carajput.com%2F&amp;h=SAQGflxq6AQEemiXU5m1Sleu5gX786YxP36euwMDL4osVrw&amp;enc=AZNOhiS8emvOi54UCNVnOtgbK0wGSKeEDPbJpQZAlf7cr5YxodSOowKyOSqQSaPOGvHdnvM7BqIC59kJjZSk01ga1fRZiYW43kCBMakJLj2AABFBk9rS2CYBcAfrJuc94lg0aPhuGpayaxGpsPeGoOhC-uzXppp1p3gEF_2Ypq758ZRU2ATuk77eX5g1paVf-MLMxpH-3DA9l9FUmq44lBe_&amp;s=1\">www.carajput.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 E: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0 \u00a0 \u00a0 , 9-555-555-460<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional Update For the Day: DIRECT TAX:- Punjab and Haryana High court in the below citied case held that if the maintenance charges etc. are stipulated to be payable by the licencee or the lessor it must form a part of the rent for the purpose of computing the annual value of the property\u00a0while calculating &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,9,4],"tags":[5049,5048,4341,5050],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2738"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2738"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2738\/revisions"}],"predecessor-version":[{"id":2740,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2738\/revisions\/2740"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}