FIRST Profession updates

Latest Updates and Notification

    • GST: June 10, 2018, is the last date for submitting monthly statements of GSTR-1 for May 2018.

 

    • IBC: Other major changes in the IBC Act:

 

    • CIRP withdrawals may only be approved by the creditor committee at 90% of the voting share.

 

    • Further, this withdrawal is permitted only prior to the publication of an EOI notice

 

    • The voting rate was reduced to 66 percent from 75 percent for all major decisions

 

    • In addition, in order to facilitate the institutional debtor to continue as a continuing entity during CIRP, the voting threshold for routine decisions has been reduced to 51%.

 

    • The applicant must submit a written certificate proving his eligibility for the bid. This places primary responsibility on the author of the decision to certify its eligibility.

 

    • The minimum one-year grace period for successful decision-maker to fulfill various legal obligations.

 

    • Inability to apply the waiver period for the application of the guarantee

 

 

# IT: does not ask for the addition of u / s 68 as a way to replace an asset with another asset rather than a cash – ITO versus. Shikha Khandelwal (2018 (6) TMI 294 – ITAT Delhi).

# IT: Lack of u / w mediation 48 – The burden was on the entity to prove that the expenses had been incurred – The brokerage commission is paid by deducting the permissible checks – Pr. Vs. CIT Sarita Arora (2018 (6) TMI 297 – Calcutta HC).

Certicom - A Group of Chartered Accountants - Articles
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Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.

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Certicom Consulting

Certicom Consulting [ Kedia Arpana & Co ] is a group of Chartered Accountants in the business of Small Business Setup & Statutory Compliance including for Professionals for the past 15 years. We have been an established and popular company with an excellent track record for the best customer satisfaction.