CAclubindia Articles

Corporate Takeovers: Overview, Rules, Regulations and Checklists

Tanuj Chandra Saxenaa 23 December 2021 at 08:57

Takeover has become a common practice in today’s economic environment. Takeover is said to have taken place when one company takes control over the company, usually by purchasing the majority stake in the company that is being taken over.

Aadhaar authentication made compulsory under GST w.e.f. January 01, 2022

Bimal Jain 22 December 2021 at 17:55

The GST Council in it's 45th meeting inter alia made recommendations regarding the Aadhaar authentication of registration to be made mandatory for being eligible for filing refund claim and application for revocation of cancellation of registration under GST.

CBIC Widens the scope of Section 83 of the CGST Act (Provisional Attachment of Property / Bank Account) w.e.f. January 01, 2022

Bimal Jain 22 December 2021 at 17:46

The Hon'ble Finance Minister, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") with respect to provisional attachment of property/bank account.

GST registration for restaurants operating exclusively though E-commerce operators w.e.f. 1st January 2022

CA Aakarsh Jain 22 December 2021 at 16:54

Whether restaurants/cloud kitchen/central kitchen providing restaurant services exclusively through E-commerce operators (ECO) would be liable for obtaining or continuing registration w.e.f. 01-01-2022

Important Changes in ITC and Vehicle Detention w.e.f 1st January 2022

CA Aakarsh Jain 22 December 2021 at 16:50

The CBIC has issued CGST Notification No: 39 dated: 21.12.2021 which notifies the Sections 108, 109, 113 to 122 of Finance Act, 2021 will be enforced effective from 01.01.2022.

Preferential Issue of Shares by Listed Company

CS Komal Bhagat 22 December 2021 at 16:43

The Preference Shares are those shares of the Company which are owned by the persons who have the exclusive right to receive the profits of the Company before the other ordinary shareholders of Company

E-Verification Scheme, 2021: Collection of Information of Assessee by Assessing Officer

Suhasini 22 December 2021 at 08:57

The Central Board of Direct Taxes (CBDT) has rolled out the e-Verification Scheme, 2021 for the Collection of Information of Assessee by the Assessing Officer (AO).

Annual Information Statement: Income on account of repurchase of units by MF/ UTI

CA Aakarsh Jain 22 December 2021 at 08:51

The main objective of the 'Annual Information Statement' is to provide comprehensive tax information to the taxpayer and also to promote voluntary compliance as well as seamless prefiling of the income tax return (ITR).

TDS Liability in case of ESOP

CA Aakarsh Jain 22 December 2021 at 08:48

ESOPs have been a significant component of the compensation for the employees of start-ups, as it allows the founders and start-ups to employ highly talented employees at a relatively low salary amount with balance being made up via ESOPs.

GST refunds stuck due to difference between FOB value and CIF value: An analysis

Vivek Jalan 21 December 2021 at 13:20

It is seen that the CBIC and DGARM has held back many refunds of exporters due to the difference between the FOB Value of exports as reported in the Shipping Bills and the CIF Value as reported in the GST Invoices which also find a way in the Shipping Bill.