The MCA videNotification No. G.S.R. 205(E), dated March 24, 2021 has issued Companies (Accounts) Amendment Rules, 2021 making mandatory for every company w.e.f 01.04.2021 to record audit trail of each and every financial transaction done on their accounting software. Every company... Read More →
The Lok Sabha & Rajya Sabha have passed the Finance Bill, 2021 with some amendments. Unless otherwise stated, amendments are effective from AY 2022-23. Some of the key amendments are discussed below: 1.Definition of “liable to tax” u/s 2(29A) amended... Read More →
Authority of Advance Ruling vide order no. 52 dated 22.01.2020 allowed Input Tax Credit on expenses incurred with respect to Corporate Social Responsibility (CSR) for application dated 24.09.2019 of M/s Dwarikesh Sugar Industries Limited, P.O.- Medpurasultan, Najibabad, Nagina Road, Bundki,... Read More →
Ministry of Home Affairs (MHA), vide notification no. S.O. 1050(E), dated 4th March 2021 specifies the rights of the Overseas Citizens of India (OCI) cardholders. This notification has an overriding effect on the erstwhile notifications issued by the Government of... Read More →
Clarification in respect of refund claim by recipient of Deemed Export Supply Issue Para 41 of Circular No. 125/44/2019 – GST dated 18/11/2019 stipulates that the recipient of deemed export supplies for obtaining the refund of tax paid on such... Read More →