{"id":3928,"date":"2018-04-06T21:54:48","date_gmt":"2018-04-06T16:24:48","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3928"},"modified":"2021-12-04T13:23:24","modified_gmt":"2021-12-04T07:53:24","slug":"corporate-and-professional-updates-6th-april-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-2018\/","title":{"rendered":"corporate and professional updates 6th April 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-69d2a18659674\" 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-69d2a18659674\"  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-6th-april-2018\/#corporate_and_professional_updates_6th_April_2018\" title=\"corporate and professional updates 6th April 2018\">corporate and professional updates 6th April 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-6th-april-2018\/#Direct_Tax\" title=\"Direct Tax:\">Direct Tax:<\/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-6th-april-2018\/#INDIRECT_TAX\" title=\"INDIRECT TAX\">INDIRECT TAX<\/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-6th-april-2018\/#MCA_Update\" title=\"MCA Update\u00a0:\">MCA Update\u00a0:<\/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-6th-april-2018\/#SEBI_updates\" title=\"SEBI updates\">SEBI updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-2018\/#Other_updates\" title=\"Other updates\">Other updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-2018\/#FAQ_on_Condonation_of_Delay_Scheme_CODS\" title=\"FAQ on Condonation of Delay Scheme (CODS):\">FAQ on Condonation of Delay Scheme (CODS):<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-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-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-2018\/#More_Reasons_for_the_Movement_of_Goods_under_the_GST\" title=\"More :Reasons for the Movement of Goods under the GST\">More :Reasons for the Movement of Goods under the GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-6th-april-2018\/#More_Refund_mechanisum_under_GST_service_export\" title=\"More : Refund mechanisum under GST service export\">More : Refund mechanisum under GST service export<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/ak9.picdn.net\/shutterstock\/videos\/4479587\/thumb\/1.jpg\" alt=\"Image result for CORPORATE AND PROFESSIONAL\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"corporate_and_professional_updates_6th_April_2018\"><\/span>corporate and professional updates 6th April 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><em><span style=\"text-decoration: underline;\">Direct Tax<\/span><\/em><\/strong><span style=\"text-decoration: underline;\">:<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>ITAT directs application of TNMM over TPO\/DRP\u2019s CUP-method for benchmarking assessee\u2019s payment of technical know-how fee to AE for AYs 2012-13 &amp; 2013-14; Follows co-ordinate bench ruling in assessee\u2019s own case in the preceding year wherein TNMM was accepted as MAM.<\/li>\n<li>An ITAT opines <em>that \u201cwe restore the issue to the file of the Assessing Officer\/TPO for applying the TNMM in respect of technical fee payment for determination the arm\u2019s length price\u201d<\/em>[TS-213-ITAT-2018(DEL)-TP]<\/li>\n<li>ITAT remits TP-issues for Aptean India for fresh decision for AY 2011-12; Notes that some additional grounds were raised by assessee before DRP but the same were not decided by DRP.<\/li>\n<li>Thus, opines that \u201cwe feel it proper to restore the entire matter back to the file of DRP for fresh decision with the direction that the DRP should decide the additional grounds also along with main grounds raised by the assessee\u201d; Directs assessee to decide all grounds by way of a speaking and reasoned order after providing hearing opportunity\u00a0\u00a0[TS-214-ITAT-2018(Bang)-TP]<\/li>\n<li>Delhi High Court held that a claim of creditor cannot be said to be barred by limitation if acknowledged by the debtor.\u00a0[Commissioner Of Income Tax Del Vs. M\/S Banaras House Ltd. (Delhi High Court)]<\/li>\n<li>Direct tax collection has grown by 18 per cent to cross Rs 10.02 trillion in the financial year ended on March 31, 2018. Finance Minister said\u00a0additional 10 million <a href=\"https:\/\/carajput.com\/income-tax-services.php\">IT returns<\/a> being filed in the previous financial year.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><em><span style=\"text-decoration: underline;\">INDIRECT TAX<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>Existing Composition Suppliers not required to furnish CMP-02 as this scheme is applicable till one opts out. No need for fresh form every year.<\/li>\n<li>Exporters furnish fresh Bond \/ Letter of Undertaking online for exports without payment of <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">IGST<\/a> for FY 2018-19. Circular 8\/8\/2017-GST of 4.10.2017.<\/li>\n<li>GSTN portal does not allow you to enter same invoice number in 2018-2019, which you had entered in any GSTR-1 of 2017-2018.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"MCA_Update\"><\/span><strong><em><span style=\"text-decoration: underline;\">MCA Update<\/span><\/em><\/strong><strong><em>\u00a0:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>Ministry of Corporate Affairs informs that Form 20B is likely to be revised on MCA21 Company Forms Download\u00a0page w.e.f\u00a06th APRIL 2018. Stakeholders are advised to check the latest version before filing.<\/li>\n<li>MCA exempts NBFCs, certain PFIs, and Infrastructure Finance Leasing Companies \u00a0to comply with IND AS 12 and AS22. MCA notification dated 02.04.2018.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">SEBI updates<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a> \u00a0to tighten the derivatives framework could provide an impetus to \u2018dabba trading\u2019 \u2014 an unofficial parallel market.\u00a0the concept of \u2018product suitability\u2019 and physical settlement can see many proprietary traders and wealthy investors shift to dabba trading.<\/li>\n<li>SEBI will issue rules that will put the onus on chartered accountants, company secretaries, cost accountants, valuers and monitoring agencies to get companies to comply with securities regulations and act in the interests of public shareholders<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Other updates<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>IBBI has issued a Press release to clarify that rendering of Valuation Services without a Certificate of Registration under the Companies(Registered Valuers and Valuation) Rules, 2017 is allowed till 30th September,2018.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_Condonation_of_Delay_Scheme_CODS\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ on Condonation of Delay Scheme (CODS):<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Query:\u00a0<\/span>What about Companies which are Strike Off U\/S 248(5) of the Act?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>Such Companies need to file appeal u\/s 252(1) of the Act with the National Company Law Tribunal (NCLT). The scheme suggests that such companies need approach NCLT faster and get its pending documents filed after NCLT permitting the revival of a company.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_dates\"><\/span><strong><em>Key dates<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>Filing of GSTR-4 for jan-2018-march-2018: 18.04.2018<\/li>\n<li>Filing of <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1<\/a> for feb 2018(turnover more than Rs1.50 cr):10.04.2018<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"More_Reasons_for_the_Movement_of_Goods_under_the_GST\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/reasons-for-the-movement-of-goods-under-the-gst\/\"><span style=\"color: #0000ff;\">More :Reasons for the Movement of Goods under the GST<\/span><\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"More_Refund_mechanisum_under_GST_service_export\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/refunds-mechanism-under-service-exports-under-gst-2\/\">More : Refund mechanisum under GST service export<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>corporate and professional updates 6th April 2018 Direct Tax: ITAT directs application of TNMM over TPO\/DRP\u2019s CUP-method for benchmarking assessee\u2019s payment of technical know-how fee to AE for AYs 2012-13 &amp; 2013-14; Follows co-ordinate bench ruling in assessee\u2019s own case in the preceding year wherein TNMM was accepted as MAM. An ITAT opines that \u201cwe &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":[1063,1208,1207,1206,1205,1204],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3928"}],"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=3928"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3928\/revisions"}],"predecessor-version":[{"id":19432,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3928\/revisions\/19432"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}