Sun Pharma, a major pharmaceutical company, has been investigated by the health authority in the United States (US FDA Certification) for manufacturing rule violations that occurred at its plant in Gujarat. These transgressions include failing to follow appropriate written procedures designed to prevent the microbiological contamination of drug products. Sun Pharma gets Warning Letter from … Read more
The Income Tax Department, at the last possible minute, extended the submission period for the Tax Audit Report for Assessment Year 2022/23. As a result, many companies, stakeholders and professionals hailed the decision of Tax Audit Report for AY 2022-23 due date extended. Let us understand the latest updates on the Tax Audit Report Due … Read more
The ROC requires each Director or their chosen partners to file a Know Your Customer (KYC) form each year. In other words any individual who has been issued a DIN Number before to 31st March 2022 are needed to provide KYC documents/Updated Email and Mobile to the ROC. You need to update your DIN-KYC Annually … Read more
As of October 1, 2022, taxpayers will be able to report late transitional credits, according to an announcement from the Goods and Services Tax Network (GSTN). This news arrives a month after the Hon’ble Supreme Court ordered the GST system to reopen on September 1, 2022, to facilitate the submission of transitional credits from the … Read more
As per the latest notification, you have to pay more for canceling the confirmed rail tickets for AC and first class. Following a circular from the Ministry of Finance on August 3, cancellation fees for confirmed railway tickets would also be subject to GST. Let us understand the concept of Rail ticket cancellation for AC, … Read more
The Corporate Affairs Ministry (MCA) has instituted guidelines to strengthen the verification process post-incorporation as part of its ongoing effort to eliminate shell corporations and dormant firms. This article will inform you all about the latest notification from MCA in order to eliminate shell companies. MCA notification on Third Amendment Rules, 2022 Physical Verification of … Read more
An important update for businesses registered under GST. The government has recently announced the updates amending the E-Invoice rules. This initiative will be an important update under the GST regime and it will cover more businesses under E-Invoicing. Let us understand the latest update of GST E-Invoice mandate on business cross ₹10 crore turnover. What … Read more
The 47th GST council meeting has approved a goods and service tax at a rate of 5% on several basic and necessary goods, such as pulses, rice, cereals, etc. when they are delivered as “pre-packaged and labeled” goods. From July 18, 2022, these modifications are in effect. The imposition of GST on necessities like pulses, … Read more
Good news for foreign tourists. As part of a drive to execute a provision that is in the legislation, the government will shortly launch a pilot scheme to refund goods and services tax (GST) paid by foreign visitors to India. Thus, Foriegn tourists may soon get a GST Refund for local shopping in India through … Read more
An important for companies and LLPs as MCA is launching a new version of its portal soon. It is expected that the new MCA Portal will be launched soon. Now, the MCA has also updated New ROC Filing forms launching on MCA21 V3 soon. This article will give you important information about MCA21 V3 and … Read more