Archive for author: shinewingindia

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Articles Corporate

Ceiling on MEIS benefits from 01.09.2020 to 31.12.2020

To ensure that the total claim under MEIS scheme does not exceed the allocation prescribed by Central Government, amendments have been made in Foreign Trade Policy, 2015-2020 effective from 1st September, 2020....

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Articles Process Advisory

Strengthening the communications and relationships between Internal Auditor & Audit Committee

Internal audit has become an important tool in helping an organization to achieve its objectives. Organizations with internal audit activities are capable to identify business risks, and system inefficiencies a...

6
Articles GST

Update Regarding Enabling GSTIN on E-Invoice Portal

As a facilitation measure, all the taxpayers who were having aggregate turnover of Rs. 500 Cr. (from 2017-18 onwards) were enabled on e-invoice portal. This listing is based on Filed GSTR-3B data as available i...

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Articles Income Tax

Reimbursement of cost from Indian group concern for providing business support not taxable as FTS in India

Background and Facts Assessee, a Denmark based company, was engaged in business of shipping and logistics. During relevant year assessee received reimbursement of cost from its Indian group concern towards bus...

1
Articles Income Tax

TCS on Sales of Goods: Finance Act, 2020

Introduction: Provisions related to collection of TCS on sale of goods exceeding Rs. 50 lakhs as introduced in Finance Act, 2020 is all set to be made applicable w.e.f. 01.10.2020. Applicability: The provisions...

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Articles Corporate

Company Law Insights || MCA extends due date for holding AGM for FY 19-20 by 3 months

Ministry of Corporate Affairs (MCA) vide an order dated 8th September,2020 has extended the time for holding of Annual General Meeting (AGM) for the financial year ended 31st March,2020 by 3 months for all comp...

1
Articles Process Advisory

Conflicts of Interest

Conflicts of Interest arise when a person finds himself performing two social roles at the same time bringing conflicting benefits or credibility. Professional accountants are required to adhere to the basic pr...

5
Articles GST

To Do’s in GST return of September 2020

Last chance to do following in GSTR-1 of September’2020 To do amendment like GSTIN, invoice number, invoice value, B2C amendment, of outward supplies relating to FY 19-20. To issue credit note, relating to FY ...

4
Articles GST

New functionality added for TCS & Composition taxpayers

Recently GST portal added new features. Multiple times amendment in Table 4 of Form GSTR-8 (e-commerce return), allowed: Restriction of amending transactions detail only once, in the table 4 (i.e. amendment ta...

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Articles GST

New Features added on GSTN portal

Recently new features have been added on the GSTN portal mentioned as below: Option to file GST refund application for multiple years has been enable on the portal. Instead of filing month wise application, we...