{"id":5316,"date":"2018-09-22T00:05:03","date_gmt":"2018-09-21T18:35:03","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5316"},"modified":"2022-01-07T16:23:38","modified_gmt":"2022-01-07T10:53:38","slug":"corporate-and-professional-updates-22nd-sep-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-22nd-sep-2018\/","title":{"rendered":"Corporate and professional updates 22nd sep 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-69f2cca12fe5c\" 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-69f2cca12fe5c\"  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-22nd-sep-2018\/#Corporate_and_professional_updates_22nd_Sep_2018\" title=\"Corporate and professional updates 22nd Sep 2018\">Corporate and professional updates 22nd Sep 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-22nd-sep-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-22nd-sep-2018\/#FAQ_on_GST_Audit\" title=\"FAQ on GST Audit:\">FAQ on GST Audit:<\/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-22nd-sep-2018\/#MCA_Update\" title=\"MCA Update:\">MCA Update:<\/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-22nd-sep-2018\/#RBI_UPDATES\" title=\"RBI UPDATES\">RBI 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-22nd-sep-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-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-22nd-sep-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-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-22nd-sep-2018\/#KEY_DUE_DATES\" title=\"KEY DUE DATES\u00a0\">KEY DUE DATES\u00a0<\/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-22nd-sep-2018\/#GST_certificate_display\" title=\"GST certificate display\">GST certificate display<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/www.clydeco.com\/images\/made\/uploads\/Blogs\/insurance\/Corporate-ClydeCo-0010_800_450_90_s_c1_c_c.jpg\" alt=\"Image result for corporate and professional updates\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_professional_updates_22nd_Sep_2018\"><\/span>Corporate and professional updates 22nd Sep 2018<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><em><span style=\"text-decoration: underline;\">Direct Tax:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>ITAT Jaipur held that section 50C not apply if assessed invests entire sale consideration in new house property under section 54F.ITO Vs Raj Kumar Parashar (ITAT Jaipur)<\/li>\n<li>Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that no penalty can be initiated against the assessee under section 271(1)(c) of the <a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax Act, 1961<\/a> for a bonafide mistake committed on the part of the Chartered Accountant.\u00a0ALP Overseas Pvt. Ltd Vs DCIT.<\/li>\n<li>Amazon, Google, Apple, and other foreign companies operating in the e-commerce space will have to register themselves for GST in all the states in the next 10-12 days.<\/li>\n<li>The government has said eCommerce companies need to collect tax at source from October 1.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_GST_Audit\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ on <a href=\"https:\/\/www.caindelhiindia.com\/blog\/application-of-gst-on-contribution-by-rwa-members\/\">GST<\/a> <a href=\"https:\/\/carajput.com\/income-tax-services.php\">Audit<\/a>:<\/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>Under what circumstances can a best judgment assessment order issued under section 60 be withdrawn?<\/li>\n<li><span style=\"text-decoration: underline;\">Answer: <\/span>The best judgment order passed by the Proper\u00a0Officer under section 62 of <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">CGST\/SGST Act<\/a> shall automatically stand withdrawn if the taxable person\u00a0furnishes a valid return for the default period (i.e. files the return and pays the tax as assessed by him), within thirty days of the receipt of the best judgment assessment order<em>.<\/em><\/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><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li>As you are aware the last date for filing form DIR-3 KYC without fee has expired on 15th September 2018.<\/li>\n<li>The process of deactivating the non-compliant DINs has since been completed and their status has been updated as \u2018Deactivated due to non-filing of DIR-3 KYC\u2019.<\/li>\n<li>However, the non-compliant DIN holders may\u00a0file DIR-3 KYC with a fee of Rs.500 (RupeesFive Hundred Only) from 21st September till 5th October 2018(both days inclusive) to get their DINs reactivated.<\/li>\n<li>From 6th October 2018 onwards, a fee of Rs.5000 (Rupees Five Thousand Only) becomes payable for reactivation.<\/li>\n<li>MCA has amended the Companies (Appointment and Qualification of Directors) Rules, 2014.<\/li>\n<li>These rules may be called the Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018 which shall come into force from the date of their publication in the Official Gazette.<\/li>\n<li>MCA has amended the Companies (Registration Offices and Fees) Rules, 2014.<\/li>\n<li>These rules may be called the companies (Registration 0ffices and Fees) Fifth Amendment Rules, 2018 which shall come into force from the date official publication in the Official Gazette.<\/li>\n<li>MCA has amended the Companies (Corporate Social Responsibility Policy) Rules, 2014.<\/li>\n<li>These rules may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2018 which shall come into force on the date of their publication in the Official Gazette.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>MCA has amended the Limited Liability Partnership Rule, 2009. These rule may be called the Limited Liability Partnership (Second Amendment) Rules, 2018 which shall come into force with effect from the 2<sup>nd<\/sup>October, 2018.<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_UPDATES\"><\/span><strong><em><span style=\"text-decoration: underline;\">RBI 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\/rbi-consulting.php\">RBI<\/a> eased norms for companies in the manufacturing sector to raise overseas funds and allowed Indian banks to market Masala Bonds in line with the government&#8217;s measures to prop up the rupee.<\/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> announced changes to the composition of rating committees at credit rating agencies (CRAs).<\/li>\n<li>Going ahead, if an issuer requests for a review of the ratings provided to their instrument, the majority of the rating committee members will have to be different than those who had assigned the rating earlier.<\/li>\n<li>Also, at least a third of the rating committee members will have to be independent.<\/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>ICAI Members who have shifted\/changed their locations after 1st April 2018 have an option to make an application to get permission to VOTE BY POST.<\/li>\n<li>The LAST DATE for receipt of such application is 5th Oct 2018.<\/li>\n<li>ICAI members Please pay your Membership \/COP Fee for the year 2018-19 latest by 30th September 2018.<\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"KEY_DUE_DATES\"><\/span><strong><em>KEY DUE DATES\u00a0<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li>GSTR-3B (SEP 2018)-OCT 20th, 2018<\/li>\n<li>GSTR-5 (SEP 2018)-OCT 20th, 2018<\/li>\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-6<\/a> (JULY 17 \u2013 AUG\u201918)- SEP 30TH, 2018<\/li>\n<li>GSTR-4 (JULY-SEP, 2018)-OCT 18th, 2018<\/li>\n<li>GSTR-5A (SEP 2018)-OCT 20th, 2018<\/li>\n<li>Quarterly return for registered persons with aggregate turnover up to Rs. 1.50 Crores- GSTR-1 (JULY- SEP, 2018)-OCT\u00a031ST, 2018.<\/li>\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">Quarterly return<\/a> for registered persons with aggregate turnover more than Rs. 1.50 Crores- GSTR-1-(SEP 2018)-OCT\u00a031ST\u00a02018<\/li>\n<li>https:\/\/resource.cdn. icai.org\/51675election2018- 41358.pdf<\/li>\n<li><span style=\"color: #000000;\">Popular blog :<\/span><\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"GST_certificate_display\"><\/span><a href=\"https:\/\/carajput.com\/blog\/tag\/display-of-gst-certificate-of-registration\/\">GST certificate display<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Corporate and professional updates 22nd Sep 2018 Direct Tax: ITAT Jaipur held that section 50C not apply if assessed invests entire sale consideration in new house property under section 54F.ITO Vs Raj Kumar Parashar (ITAT Jaipur) Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that no penalty can be initiated &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":[5792,5790,5788,3765,1296,5787,558,5791,5789],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5316"}],"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=5316"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5316\/revisions"}],"predecessor-version":[{"id":20837,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5316\/revisions\/20837"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}