NICAI Updates

[Raj Chawla]

Respected Members:

Quotes of the Day:

1. Accept what you cannot change. Change what you cannot accept. That is one of the simple key to be happy in life.
   
2. In the end only 3 things matter: how much you Loved, how gently you Lived and how gracefully you Let Go of things not meant for you.
   

 

NICAI Updates:

1. CBDT vide Instruction No.03/2018  (F.NO.225/249/9/2018-ITA.II), dated August 20,2018 has modified the earlier Instruction dated February 12,2018 and elaborated on the conduct of the mandatory E-Assessment.
   
2. Finance ministry has notified annual tax return forms for businesses registered under the GST, in which details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal have to be provided in a consolidated manner.
   
3. Under GST In case of transport of goods in lots or batches, separate delivery challan & invoice copy for each despatch. Original invoice with last lot.
   
4. Goods and services provided by charitable trusts for a consideration would classify as supply, making it liable for GST, the authority of advanced ruling (AAR) for GST in Maharashtra has ruled.
   
5. Overseas investors of Indian origin are allowed to buy up to 5 percent in any security under current regulation, India's economic affairs secretary Subhash Chandra Garg said in a bid to calm markets after recent regulatory changes. 
   
6. IBBI has issued circular to all Insolvency Professional Entities w.r.t Compliance of regulation 13 (2) that All IPE are directed to inform the Board within seven days from the date when an IP ceases to be its director or partner or joins as its partner or director and forthwith and for all pending cases, not later than 7th Sep 2018
   
7. RBI has notified that all new filings for FC-GPR, FC-TRS , LLP-I, LLP-II & CN will be in SMF only w.e.f September 01, 2018 (Copy Attached). FC-GPR & FC-TRS shall not be filed on ebiz.
   
8. PDC of ICAI extended the last date for submission of online Multipurpose Empanelment Form for the year 2018-19 including Declaration and Financial Documents till 12.00 am of 10th September, 2018. Visit www.pdicai.org

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With best regards,

CA Raj Chawla

FCA, FCS, FCMA, LLB, MIMA, DISA

Ex Chairman- NIRC of ICAI

Candidate for Central Council of ICAI December 2018

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