An IP shall preserve records relating to that period of a CIRP when he acted as IRP or RP, irrespective of the fact that he did not take up the assignment from its commencement or continue the assignment till its conclusion.
Discussing Compliance Requirements for the month of July 2021 under various statutory laws. We have also provided Important Updates and Notifications for the month of June 2021 under these laws.
Government grants further extension in timelines of 18 compliances. Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19.
The Institute of Chartered Accountants of India has announced the CA Amendment Regulations 2021. Industrial Training Provisions have been amended under the new regulations.
This will help EM Part-II and UAMs certificate holders to avail benefits of the provisions under various existing schemes and incentives including Priority Sector Lending benefits of MSME.
The 44th GST Council met on 12th June 2021 to reduce the GST rates on the specified items being used in Covid-19 relief and management like hand sanitisers, face masks, gloves, PPE Kits, temperature scanners etc.
MCA via a notification dated 07th June 2021 has notified the Companies (Incorporation) 4th Amendment Rules 2021 wherein a new form Agile Pro - S has been released.
Discussing Compliance Requirements that lie in the month of June 2021 under various statutory laws including Income Tax, GST, FEMA, RBI, and Companies Act etc. ..
Amnesty scheme 2021 has been recommended for reducing late fee payable by small taxpayers & medium-sized taxpayers. The same will benefit around 89% of GST taxpayers at present.
The 43rd GST Council met under the Chairmanship of FM Smt. Nirmala Sitharaman on 28th May 2021. Let us discuss the nine key highlights of the 43rd GST Council Meet.