Based on the International Financial Reporting Standards and the Ministry of Corporate Affairs (MCA) has notified Indian Accounting Standards (Ind -AS) which are applicable on certain entities on mandatory basis. As a part of review process and in public interest, the International Accounting Standard Board (IASB) keeps on issuing certain amendments to these standards on timely basis in order to […]
Upcoming Changes in GSTR 1 Recent Judgments Honorable High Court of Gujarat Appellate Authority for Advance Ruling – Karnataka Activities of liaison office of foreign company establishing its place of business in India are not liable for GST The foreign company is a ‘person’ by the virtue of clause (h) of section 2(84) of the CGST Act. However, the liaison office […]
In this edition we have tried to bring to your notice the latest amendments that followed in the month of February 2021 issued by MCA and RBI. Amendments issued by MCA Companies (Specification of definitions details) Second Amendment Rules, 2021 In exercise of the powers conferred by the proviso to clause (52) of section 2 read with sub-sections (1) and […]
India’s Tata Group will buy a 68% stake in online grocery startup BigBasket for about Rs 9,500 crore ($1.31 billion). The salt-to-software conglomerate has been planning to launch a “super app” that will tie in all its consumer businesses. Bengaluru-based BigBasket competes with Walmart Inc-owned Flipkart and Amazon’s “Fresh” service as more consumers stay indoors and choose to shop online […]