In this edition we have tried to bring to your notice the latest amendments that followed in the month of January 2021 issued by MCA and RBI. Amendments issued by MCA Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4(CFS), AOC-4 XBRL, AOC-4 Non-XBRL for the financial year ended on 31.03.2020 under the companies ac, 2013. Read […]
Global asset manager KKR & Co has closed its maiden Asian infrastructure fund after hitting the hard cap at $3.9 billion (Rs 28,646 crore). The fund will focus on critical infrastructure with low volatility and strong downside protection. It has a broad mandate to invest across emerging and developed countries in the Asia-Pacific in sectors including waste, renewables, power and […]
The Ministry of Corporate Affairs (MCA) has deferred the applicability of the notified the Companies (Auditor’s Report) Order (CARO) 2020, till 1st April, 2021. The notification seeks to amend the Companies (Auditor’s Report) Order, 2020. In the Companies (Auditor’s Report) Order, 2020, in paragraph 2, for the figures, letters and word “1st April, 2020”, the figures, letters and word “1st […]
Important Statutory Developments Important Judicial Precedents
Notification No. 94/2020-Central Tax dated 22.12.2020, CGST Change in Rule 86B (Restriction on use of Input Tax Credit for discharging the output liability) has been inserted into CGST Rules, 2017, and is effective from 1st, January 2021. Exemption to the Rule 86(4) Rule 36(4) of CGST Rules, 2017 Rule 59 of CGST Rules, 2017 Rule 9(1)a of CGST Rules, 2017 […]
In today’s time auditors are much more equipped to identify opportunities for enhancement – as adding value is widely considered an integral part of the internal audit process. In the recent past, role of internal auditor is being redefined. The new role is broader, more inclusive and sets expectation of adding value by internal auditors to the audited entity when […]
In this edition we have tried to bring to your notice the latest amendments that followed in the month of December, 2020 issued by MCA and RBI. Amendments issued by MCA Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020 MCA has amended the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 through Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, […]
Tata Sons Pvt. Ltd, the holding company of the software-to-steel conglomerate, has signed a pact with Malaysian budget carrier AirAsia Group Bhd to increase its stake in their India joint venture. AirAsia has agreed to sell a 32.67% stake in the joint venture for $37.66 million (about Rs 276.7 crore at current exchange rates). The Malaysia airline previously owned 49% […]
Eway Bill GST Registration CBEC-20/13/06/2020-GST Instruction No. 4/3/2020-GST, directs the Standard Operating Procedures (SOP) for verification of taxpayers granted deemed GST registration. During the period from 21st August’2020 to 16th November’2020, deemed registration were granted where Aadhaar authentication has either not been opted or authentication has failed. A mandatory physical verification shall be done by proper officer for the deemed […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of November, 2020 issued by MCA, RBI, DIPP and others. Amendments issued by MCA Extension of LLP Settlement Scheme, 2020 The MCA extends due date of defaulting LLP to file belated documents under LLP Settlement Scheme, 2020. To read more http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.37_09112020.pdf […]