Phone++91 9654831210
86b gst rule: Restriction on ITC Utilization in Electronic Credit Ledger New rule 86B, vide notification number 94/2020 dated December 22, 2020, has been introduced by the Central Board of Indirect Taxes and Customs (CBIC). Rule 86B is which is effective from 1st January 2021. Applicability of 86B GST Rule GST Rule 86B is attached […]
Read MoreAlternative minimum tax According to this law, which reduces a taxpayer’s regular tax amount by certain tax benefits and significantly for taxpayers. The AMT applies to taxpayers for economic growth in respect of setting a limit on benefits that are received by taxpayers. Which gives surety that taxpayers pay at least a minimum amount of […]
Read MoreRoles and Responsibilities of Company Directors As per section 2(34) of the companies Act, 2013 “Director” means a director appointed to the board of a company. A Director is a person who is appointed to perform his duties and function in accordance with the provisions of companies Act, 2013. A director of the company shall […]
Read MoreSMALL COMPANY COMPLIANCES The MCA in 2022, issued an amended definition of a small company by increasing their threshold limit of paid up share capital and turnover. As per section 2(85) of the companies Act, 2013. The paid-up capital and turnover of the small company shall not exceed Rupees 4 Crores and Rupees 40 Crores, […]
Read Moredifference between private placement and preferential allotment The term private placement is governed by Section 42, “offer or invitation for subscription of securities on private placement,” of the Companies Act, 2013, and private placement shall be made only to a select group of persons who have been identified by the board. The term preferential allotment […]
Read MoreThe difference between ordinary resolution and special resolution and when we need to pass so, mention the list of special resolution or ordinary resolution. When we make a company, then the board of directors of the company has to make decisions at board meetings. All decisions taken by the board of directors have an effect […]
Read MoreGSTR-1A GSTR-1A is a document containing changes made to sales invoices reported in GSTR-1. The form was suspended within few months of implementing GST in the year 2017 but has been reintroduced in 2024. In this article, we discuss the following topics in detail: What is GSTR-1A? The Form GSTR-1A shall furnish, the flexibility feature in […]
Read MoreHow to file an adjournment online in the GST Portal Taxpayers can use these characteristics to view all circumstances by viewing all notifications, conclusions, payment details, confirmations, reports, and requests issued by the tax office during the audit for a particular case. To view all sent communications, complete the following steps for further filing the application in the GST Portal: Using the […]
Read MoreWaiver of Interest and Penalty on Demand Notices: – Association with penal demanded under Section 73 of the Act for the financial years ending 31st March 2018, 2019 and 2020 interest and penalty to be waived on the demand notices. – Available only for situations where taxpayer completes the payment of a certain […]
Read MoreWhat is Import Export Code (IEC)? The term Import Export Code (IEC) is a short form used globally to refer to a number of different licenses, permits, registrations, and certificates that are required for international business. The Import Export Code or IEC is a ten-digit number which is a special identification number that is very […]
Read More