1. Advance Tax: 15.12.2019 is last date for depositing Third Installment of* Advance Tax for FY 2019-20 Please pay on time to avoid penal interest.
2. GST: Today (11.12.19, Wednesday) is the Last date to file GSTR-1 for the month of November 2019.
3. GST: GST authorities have stumbled upon instances of online sales reported by several firms that sell goods on e-commerce portals like Amazon and Flipkart being much lower than such sales computed from the tax collected at source (TCS) data furnished by the marketplaces.
4. GST Council may raise the base rate to 9-10 percent from five percent. The GST Council will reportedly discuss the option of moving 243 items to the 18 percent slab and scrapping the 12 percent slab. If this fructifies, there will be three GST slabs: five percent, 18 percent and 28 percent.
5. ICAI has issued an announcement on applicability of ‘Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements’ issued by ICAI on 30 November 2018 to statutory auditors of listed entities and their material subsidiaries.
6. ICAI has clarified that statutory auditors of listed entities and their material subsidiaries are required to comply with SEBI Circular dated 18 October 2019 regarding “Resignation of statutory auditors from listed entities and their material subsidiaries” which prescribes various conditions to be satisfied by listed entities, their material subsidiaries and their statutory auditors. The announcement will come into force from immediate effect
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