CBIC issues clarifications regarding optional filing of GST annual return in GSTR-9 & GSTR-9A
The Central Board of Indirect Taxes and Customs, has issued a clarification regarding the optional filing of GST annual return.
MCA Notifies Rules For Corporate Insolvency Resolution Process Of Guarantors To Corporate Debtors
The Ministry of Corporate Affairs vide Notification dated 15th November 2019, has notified rules for corporate insolvency resolution process in respect of guarantors of corporate debtors, called The Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019, which shall be in force from 1st December 2019.
CBDT publishes the Income-Tax (14th Amendment) Rules, 2019
The Central Board of Direct Taxes on 18th November 2019 has issued the Income-Tax (14th Amendment) Rules, 2019, introducing new obligations for tax payers deducting tax at source as per Section 194M of the Income tax Act, for commission, brokerage or professional fees paid for work done in pursuance to contract.
CBIC published CGST (7TH Amendment) Rules, 2019 to simplify Annual Return/Reconciliation Statement
The Central Board of Indirect Taxes and Customs has published the Central Goods and Services Tax (Seventh Amendment) Rules, 2019 for simplification of GSTR-9/9C for FY 2017-18 and for the FY 2018-19 by making various fields optional.
Companies (Meetings of Board and its Powers) amended to alter the defining criteria of RPT that require company resolution
On 18th November, 2019 Ministry of Corporate Affairs (MCA) had notified 2nd amendment in the Companies (Meeting of Board and its Powers) Rules, 2014 and amended the threshold limits in the criteria for distinguishing Related Party Transactions (RPT) that require authorization through resolution by the company.
SEBI lays down mechanism to map unique client code with demat account
The Securities and Exchange board of India on 15th November 2019, has issued a circular directing the stock exchanges and depositories to put in place a mechanism to map the Unique client code with the demat account of a client.
MCA appoints 1st December 2019 as the date on which the certain provisions of IBC shall come into force
The Ministry of Corporate Affairs in its Notification dated 15th November 2019, Appoints 1st Day of December 2019 as the date on which certain provisions of the Insolvency and Bankruptcy code, 2016 related to personal guarantors to corporate debtors shall come into effect.
Digital thermometer, BP monitoring devices to come under regulation from January 1, 2020
The Central Drugs Standard Control Organisation In its notification dated 13th November 2019, has brought in devices that are used to monitor temperature or blood pressure under new medical device Rules, 2019 effective from 1st January 2020.
Due date for filing GST returns for FY 2017-18 extended to 31st December
Central Board of Indirect Taxes & Customs in its notification dated 14th November 2019, has issued Central Goods and Services Tax (Eighth Removal of Difficulties) Order, 2019, to further extend the due date for furnishing the GST Annual Return for FR 2017-18 & 2018-19.
MCA Notifies rules under insolvency law for resolution of financial service providers
The Ministry of Corporate Affairs, has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules) today to provide a generic framework for insolvency and liquidation proceedings of systemically important Financial Service Providers (FSPs) other than banks.
