Here's a simplified explanation of the mechanism for providing evidence of compliance with Section 15(3)(b)(ii) of the CGST Act, 2017 (Circular No. 212/6/2024_26.06.2024).
The Finance (No. 2) Bill, 2024 was presented by the Hon'ble Finance Minister (FM) Nirmala Sitharaman on 23 July 2024. While moving the Bill for approval by the Lok Sabha on 7 August 2024, the FM introduced amendments to FB (No, 2) 2024 (Amended Bill) and the bill was passed on 16th of August, 2024 in form of THE FINANCE (No. 2) ACT, 2024.
This article examines how the new GST registration regulations will affect startups, highlighting the advantages as well as the difficulties.
A statement called RCM liability/ ITC statement has been introduced on GST portal.
Tax planning is vital for effective financial management and avoiding penalties. The income tax department has outlined crucial deadlines for September 2024.
You can file a belated Income Tax Return (ITR) if you missed the original deadline of July 31. The deadline to file a belated ITR is December 31 of the assessment year.
In the given case, the retrospective restatement has no effect on the information in the balance sheet at the beginning of the preceding period (i.e., 1st April 2021). Therefore, PQR Ltd. is not required to present a third balance sheet.
The option pricing method (OPM) is a widely used approach for allocating equity value to various securities within the intricate capital structures of privately held companies.
On August 23, 2024, the Insolvency and Bankruptcy Board of India (IBBI) introduced a discussion paper proposing crucial amendments to the IBBI(Corporate Insolvency Resolution Process) Regulations, 2017 (CIRP Regulations).
The entity ABC is a public limited company domiciled in India. The Government of India holds 52% in the paid-up equity capital of the company as of 31st March, 2023
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