NICAI Updates

[Raj Chawla]

Respected Members:

Quotes of the Day:

1. A beautiful understanding about life. Your problem is never really your problem. Your reaction to the problem is your real problem. 
   
2. If you want to know your past, look into your present conditions. If you want to know your future, look into your present actions.
   

NICAI Updates:

1. Attention Taxpayers! 15.09.2018 is last date for payment of your second instalment of Advance Tax. Non/short payment will attract levy of interest. 
   
2. Due Date is Sept 11, 2018 for GSTR1 for Assessees having turnover exceeding 1.5 Cr. In the FY 2017-18.
   
3. Union government doubled the pecuniary limit to Rs. 20 lakh for filing loan recovery application in the Debt Recovery Tribunals (DRTs) by banks and financial institutions, to help reduce pendency of such cases.
   
4. SEBI may soon dilute some of the controversial provisions notified in its April 10 circular on foreign portfolio investors (FPIs). Sources say the regulator is mulling exempting people of Indian origin (PIOs) from the ambit of the new KYC norms.
   
5. MCA has issued the much awaited circular w.r.t Relaxation of additional fees and extension of last date of filing of Form BEN-2 under the provisions of the Section 90 of the Companies Act, 2013.
   
6. The rupee crossed the 72-a-dollar mark on Thursday, but retreated on intervention by the Reserve Bank of India (RBI). The currency fell to 72.07 a dollar in intra-day trade, but closed just below the 72-mark.
   
7. RBI has notified the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2018 which shall come into force with effect from the 1st day of September, 2018.
   

Cost Audit and XBRL:  For any help and assistance in Cost Audit and XBRL, Please contact Mob. 9711081083

With best regards,

CMA Rajni Chawla

M.COM, FCMA

712, New Delhi House, 27

Barakhamba Road, New Delhi-110001

011-43581083, 43581084

93110-81083, 97110-81083