Nandhakumar & Sundaran
Chartered Accountants

By: Nandhakumar & Sundaran | December 08, 2018

CBIC has extended the deadline/ due date upto 31 March 2019 for filing of GST Annual Return in Form GSTR-9 (normal dealers)/ GSTR-9A (composition dealers) and GST Audit Report in Form GSTR-9C  (Audit Certificate/ Reconciliation Statement in the case of Taxpayers having turnover above Rs. 2 crores).

CBIC Press Release dt. 7 Dec. 2018

Extension of due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C 

1. FORM GSTR-9 and FORM GSTR-9A have been notified vide notification No. 39/2018-Central Tax, dated 04.09.2018 while FORM GSTR-9C has been notified vide notification no. 49/2018-Central Tax, dated 13.09.2018 as part of the CGST Rules.

2. The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9...

Category: GST 

Tags: News 

By: Nandhakumar & Sundaran | December 08, 2018

Based on representations from stakeholders, the SEBI has extended the deadline upto 1 April 2019, for compliance with the new requirements for transfer of listed securities in dematerialised form with effect from 5 Dec. 2018, i.e. now restriction on transfer of listed shares, debentures, etc. securities held in physical form shall be applicable from 1 April, 2019.

SEBI Press Release PR No. 49/2018 dt. 3 Dec. 2018

The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository. This measure was to come into effect from December 5, 2018.

Subsequently, SEBI has r...

Category: SEBI 

Tags: News 

By: Nandhakumar & Sundaran | December 05, 2018

As per News Reports, the GST Council may consider ‘one time amnesty scheme’ for exit of non-filers/ nil-filers of GST Returns to facilitate about 25 lac registered/ migrated taxpayers who file their returns with ‘nil’ GST liability and about 10% of the taxpayers who have never filed their returns post registration/ migration.

In view of the fact that these taxpayers have no contribution to the GST collection and they are adding unnecessary workload on the GSTN Systems, an amnesty scheme for exit of such taxpayers may be considered by the GST Council to bring relief to the tax payers through reduced compliance cost for them and reduced burden for GSTN Systems.

Amnesty scheme will ensure completion of pending compliance on the part of such taxp...

Category: News 

Tags: News 

By: Nandhakumar & Sundaran | December 05, 2018

The ICAI has issued Exposure Draft of ‘Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200’ relating to “Overall Objectives of the Independent Auditor and the Conduct of an Audit” for comments/ suggestions, latest by 17 Jan. 2018, as under:

ICAI Announcement dt. 3 Dec. 2018

The comments may be sent via post to: The Secretary, Auditing and Assurance Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, A-29, Sector-62, NOIDA, Uttar Pradesh – 201 309 or thru email at: aasb@icai.in

It may be noted that the Auditing and Assurance Standards Board (AASB) of ICAI has decided to issue separate set of standards for audits of smaller and less complex entities. The concern behind this as discussed was ...

Category: ICAI 

Tags: News 

By: Nandhakumar & Sundaran | December 05, 2018

Based on representations from stakeholders, the SEBI has extended the deadline upto 1 April 2019, for compliance with the new requirements for transfer of listed securities in dematerialised form with effect from 5 Dec. 2018, i.e. now restriction on transfer of listed shares, debentures, etc. securities held in physical form shall be applicable from 1 April, 2019.


"SEBI Press Release PR No. 49/2018 dt. 3 Dec. 2018"

The Board, on March 28, 2018, decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository. This measure was to come into effect from December 5, 2018.


Subsequently...

Category: SEBI 

Tags: News