{"id":3796,"date":"2018-03-05T00:30:33","date_gmt":"2018-03-04T19:00:33","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3796"},"modified":"2021-12-04T14:37:34","modified_gmt":"2021-12-04T09:07:34","slug":"corporate-and-professional-updates-5th-march-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018"},"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-69ea80566488d\" 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-69ea80566488d\"  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-updates-5th-march-2018\/#CORPORATE_AND_PROFESSIONAL_UPDATES_5Th_MARCH_2018\" title=\"CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018\">CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Direct_tax\" title=\"Direct tax\u00a0\">Direct tax\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Gst_updates\" title=\"Gst updates\">Gst updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#FAQ_on_Condonation_of_Delay_Scheme_CODS\" title=\"FAQ on Condonation of Delay Scheme (CODS):\">FAQ on Condonation of Delay Scheme (CODS):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Other_updates\" title=\"Other updates\">Other updates<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Key_Dates\" title=\"Key Dates:\">Key Dates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Read_more_about_What_is_core_Business_Activity_GST\" title=\"Read more about: What is core Business Activity GST\">Read more about: What is core Business Activity GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-5th-march-2018\/#Read_more_about_All_about_GST_Offenses_Penalties_and_Appeals\" title=\"Read more about: All about GST Offenses, Penalties, and Appeals\">Read more about: All about GST Offenses, Penalties, and Appeals<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/4.bp.blogspot.com\/-wNJClJqatnY\/VyitHIW_mDI\/AAAAAAAAJWQ\/aADIWyCr7kwwv9OmGZd_ZtMc0FhhDqH_ACLcB\/s1600\/corporate.jpg\" alt=\"Image result for corporate and professional updates\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATES_5Th_MARCH_2018\"><\/span>CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_tax\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><strong><span style=\"text-decoration: underline;\">Direct tax\u00a0<\/span><\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>CBDT has decided to give a last chance to persons who have not filed income tax returns for the last two years.\u00a0An advisory issued by the board that such persons can file income tax returns by\u00a031st March 2018.<\/li>\n<li><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a> Deptt. notifies the Centralized Communication Scheme, 2018 for conduct of electronic assessment proceedings. CBDT Notification dated. 22.2.2018.<\/li>\n<li>Ahmedabad ITAT quashes imposition of penalty u\/s 271(1)(c) on assessee-individual for AY 2009-10, rules that\u00a0\u201cwhere the original basis of imposition of penalty has been altered in a significant way by the first appellate authority, the very basis for sustaining the penalty is rendered non-existent.\u201d;\u00a0[TS-86-ITAT- 2018(Ahd)]<\/li>\n<li>Bombay HC dismisses assessee-company\u2019s (an\u00a0electronic spot exchange for\u00a0commodities)\u00a0writ, upholds re-assessment for AY 2010-11 initiated beyond 4 years period on the basis of a\u00a0special audit report;\u00a0[TS-87-HC-2018(BOM)]<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Gst_updates\"><\/span><strong><span style=\"text-decoration: underline;\">Gst updates<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>CGST Mumbai Central Commissionerate arrested director of Shah Brothers Ispat Pvt Ltd, and director of V N Industries, for availing of &#8220;ineligible credit&#8221; of Rs 5.20 crore and Rs 2.03 crore, respectively.<\/li>\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Deptt Chandigarh taken action against \u201corganized gang&#8221; involved in the Rs 100 crore fake GST billing scam, against 134 persons associated with 70 companies\/ firms in the Punjab state.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_Condonation_of_Delay_Scheme_CODS\"><\/span><strong><span style=\"text-decoration: underline;\">FAQ on Condonation of Delay Scheme (CODS):<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><span style=\"text-decoration: underline;\">Query:<\/span>what shall be the filing fees for registering under this scheme?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>The filing fee for availing benefits under this Scheme is Rs.30,000\/- which is the fee required to be paid at the time of filing the e-Form CODS 2018.<\/li>\n<li>However, before filing e-Form CODS 2018, the defaulting companies shall be required to upload all their overdue documents with additional fee for the delayed period for each one of them, as may be leviedas per section 403 of the Act read with Companies (Registration Offices and fee) Rules, 2014.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_updates\"><\/span><strong><span style=\"text-decoration: underline;\">Other updates<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>NFRA: The Union Cabinet has approved the proposal for the establishment of National Financial Reporting Authority (NFRA) and creation of one post of Chairperson, three posts of full-time Members and one post of Secretary for NFRA.<\/li>\n<li>India replaces China as world&#8217;s fastest growing economy, as GDPgrew at 7.2% \u00a0in Oct-Dec 2017, and will likely expand 6.6 percent in 2017-18, amid strong revival signs in consumption spending and invest activity.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><strong><span style=\"text-decoration: underline;\">Key Dates:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>Submission of forms received in March to IT commissioner:\u00a007\/03\/2018<\/li>\n<li>Payment of <a href=\"https:\/\/carajput.com\/tds.php\">TDS\/TCS<\/a> deducted\/collected in March:\u00a007\/03\/2018<\/li>\n<li>Taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to file <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1<\/a> for Jan on monthly basis:\u00a010\/03\/2017<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Read_more_about_What_is_core_Business_Activity_GST\"><\/span><strong><em><u>Read more about: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/what-is-core-business-activity-in-gst\/\">What is core Business Activity GST<\/a><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Read_more_about_All_about_GST_Offenses_Penalties_and_Appeals\"><\/span><strong><em><u>Read more about<\/u><u>: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/all-about-gst-offenses-penalties-appeals\/\">All about GST Offenses, Penalties, and Appeals<\/a><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"text-align: justify;\"><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018 Direct tax\u00a0 CBDT has decided to give a last chance to persons who have not filed income tax returns for the last two years.\u00a0An advisory issued by the board that such persons can file income tax returns by\u00a031st March 2018. Income Tax Deptt. notifies the Centralized Communication Scheme, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[1027,960,556,962,558,1026],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3796"}],"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=3796"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3796\/revisions"}],"predecessor-version":[{"id":19436,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3796\/revisions\/19436"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}