GST Calendar – May’ 2021 Nature of Compliances Due Date GSTR-7 April’ 2021 tax deducted at source May 10, 2021 GSTR-6 April’ 2021 Input Service Distributor May 13, 2021 GSTR-5 April’ 2021 Non-Resident Taxable Person May 20, 2021 GSTR-5A April’ 2021 OIDAR Service Provider May 20, 2021 GSTR-3B April’ 2021turnover more than 5 Cr May 20, 2021 GSTR-1April’ 2021 turnover more than 5 cr May 26, 2021 IFF- Invoice furnishing facility (Availing QRMP) May 28, 2021 GSTR-4 Composition Levy for
Month: May 2021
Revision in Criteria for classifying Non- Corporate entities for applicability of Accounting Standards
For the purpose of applicability of Accounting Standards (“AS”), The Institute of Chartered Accountants of India (“ICAI”) has classified the entities into two segments – company entities and non-company entities. Non-company entities such as sole proprietors, partnership firms, trusts, Hindu Undivided Families, association of persons and co-operative societies are further classified into various levels. Currently, the ICAI has categorized non-company entities into 3 levels. With increasing number of non-company entities, the ICAI has, now, further classified them into 4 levels.
Government extends timelines of certain compliances in light of the severe pandemic
Also, extend the time limits to June 30, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021. Judicial Update
Recent Amendments by MCA
In this edition we have tried to bring to your notice the latest amendments that followed in the month of April 2021 issued by MCA. Amendments issued by MCA Companies (Audit and Auditors) Second Amendment Rules, 2021: In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit
Reliance Industries acquires British icon Stoke Park for $79 mn
Reliance Industries has acquired UK-based Stoke Park Limited for $79 million (£57 million). Stoke Park owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe. The acquisition will add to the consumer and hospitality footprint of Reliance. The firm already holds investments in EIH Ltd (Oberoi Hotels) and is developing a convention centre, hotel and managed residences in BKC