Articles by Affluence Advisory

Issuance of notice in Form GST ASMT-10

Posted by Affluence Advisory 10 April 2024 3503 Views

Goods and Services Tax (GST) is a self-assessment-based tax scheme wherein a taxpayer is required to determine its tax liability and avail the eligible credit on a periodical basis.

GST: Action Points of Closing of FY 2023-24

Posted by Affluence Advisory 04 April 2024 3311 Views

Checklist to be followed in March 2024 for the GST Compliances of FY 2023-24

Highlights of Revised Secretarial Standards on General Meetings (SS-2)

Posted by Affluence Advisory 02 April 2024 793 Views

The ICSI in January, 2024 has issued a revised SS-2 (effective from April 01st, 2024) to maintain consistency with the amended (vide Companies (Amendment) Act, 2017) provisions of the Act.

Scale-Based Regulation 2023: Non-Banking Financial Company (NBFCs)

Posted by Affluence Advisory 01 April 2024 1281 Views

The Reserve Bank of India (RBI) has played a crucial role in regulating the NBFC sector over the years. With the sector's evolution and growth dynamically the regulator amends the regulations from time to time giving the sector the flexibility to operate efficiently.

Responsibilities of the NBFCs registered with RBI, with regard to submission and compliances

Posted by Affluence Advisory 27 March 2024 759 Views

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013, engaged in the business of loans and advances, acquisition of shares/ stocks/ bonds/ debentures/ securities issued by Government or local authority or other marketable securities

Highlights on Revised Secretarial Standards-1

Posted by Affluence Advisory 22 March 2024 856 Views

Revised Secretarial Standards -1 has been issued by ICSI and approved by the Central Government under Section 118(10) of the Companies Act, 2013 on 02nd January 2024 and it shall be effective from 01st April 2024.

Registration of Section 8 Company in India

Posted by Affluence Advisory 20 March 2024 1268 Views

SECTION 8 COMPANY is a non-profit company formed and registered under section 8 of the Companies Act, 2013 specifically to promote social welfare, education, art, science, religion, charity, and other noble causes prioritizing social impact over financial gains.

ITAT Judgement - Ignorance of the Provisions of Section 269 will initiate penalty proceedings u/s 271E

Posted by Affluence Advisory 15 March 2024 1159 Views

ITAT: Upheld penalty, states that poor history of clearance of cheque is not valid reason to make repayment in cash and against the mode prescribed under Section 269T of the Income-tax Act, 1961.

Refund Process under GST across Different Categories

Posted by Affluence Advisory 14 March 2024 2749 Views

In this article, we have attempted to summarize the computation of refund amount under different categories along with broadly outlining the process.

Cancellation, Suspension and Revocation of GST registration

Posted by Affluence Advisory 13 March 2024 2593 Views

Nowadays, the matters relating to cancellation of GST registration specifically cancellation from retrospective date are being seen on recurring basis. Almost, every other day we see judgement pronounced by some or other High Court dealing with cancellation of GST registration by department.