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Old 10-11-2016, 11:18 AM
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megri megri is offline
Join Date: Dec 2004
Location: Chandigarh India
Posts: 1,396
Default New Taxation Updates 11.10.2016

  • Under GST In case of advance payment received from purchaser, pay tax proportionately and not on total amount of supplies to be made.
  • MCA has revised the version of e-forms: Form MGT-15, Form FC-3, Form INC-4, Form MGT-14, Form 23C, Form 23D, Form A-XBRL, Form I-XBRL, Form 23AC XBRL, Form 23ACA XBRL and Form AOC-4 XBRL, Costing taxonomy 2012 for filing Forms I-XBRL and A-XBRL w.e.f. 08.10.2016.
  • MCA has issued notice inviting comments/ suggestions on the draft regulations relating to insolvency and bankruptcy code, 2016 available on the website of MCA.
  • Supreme Court of India: Non judicial stamp papers do not have any expiry period being used for a document. Case: [Thiruvengada Pillai vs Navaneethammal & Anr on 19 February, 2008].
  • Failure of CA to investigate transaction in depth is gross negligence in performing professional duties.

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