MCA has issued The Companies (Appointment and Qualification of Directors) Amendment Rules, 2021 on 19th August 2021 which will come into effect from 20th August 2021.
The LLP (Amendment) Act, 2021 got the approval of the President of India on 13th August 2021 and became the LLP Amendment Act, 2021. Let us discuss the changes in Fine / Penalty under the LLP Act, 2008.
It has been proposed to insert the new clause ‘(aa)’, after clause (a), in Section 16(2) of the CGST Act, that provides an additional requirement to claim ITC based on GSTR-2A and newly introduced GSTR-2B.
Audit Quality Maturity Model (AQMM) is a tool for self-evaluation of audit firms & sole proprietor towards technological driven mechanism to increase the operational efficiency.
The CPI stands at 6.26% in June 2021 compared to May 21 of 6.30%. This is over and above the RBI tolerance limit of 2-6%. However, for June 21 the data is provisional.
To minimize the drawbacks of 2A, a new statement was launched i.e GSTR 2B. It is a static, month-wise auto-populated statement reflecting details of all the purchase-related details.
In its meeting dated 6th August 2021, the Securities and Exchange Board of India took six major decisions. Same has been discussed in this article.
Vodafone and Cairn, and other taxpayers would be greatly benefitted from this change as they no longer have to battle with the Indian Government and would also get refund of taxes paid (without interest).
Ind AS 41 is applicable to biological assets relating to agricultural activity, agricultural produce up to the point of harvest and government grants relating to agricultural activity.
Sustainability practices in the long run, would lead to improved financial performance of the firm, increased competitive advantage, profit maximisation and long-term success of the firm.
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