In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate various disclosures by companies in their financial statements. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha. Two New Disclosure requirements inserted in Schedule-III 1.
Month: August 2021
Amendments issued by MCA & SEBI
In this edition we have tried to bring to your notice the latest amendment that followed in the month of July, 2021 issued by MCA & SEBI. Ministry of Corporate Affairs issues clarification on spending of CSR fund for COVID-19 Vaccination The Ministry of Corporate Affairs vide general circular no. 10/2020 dated 23.03.2020 has clarified that spending of CSR funds for COVID-19 is eligible for CSR Activity. In continuation of said circular vide general circular no 13/2022 dated 30.07.2021 it
One More Extension!
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.21. The details are as under: Further, considering the non-availability of the utility for e-filing of certain Forms, the CBDT has decided to extend the due dates
GST and evolving law
GST Calendar – Aug 2021 Nature of Compliances Due Date GSTR-7 JUL 2021 tax deducted at source August 10,2021 GSTR-1 JULY 2021 August 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) August 13, 2021 GSTR-6 JUL 2021 Input Service Distributor August 13, 2021 GSTR-3B JULY 2021 August 20, 2021 GSTR-5 JULY 2021 Non-Resident Taxable Person August 20, 2021 GSTR-5A JULY 2021 OIDAR Service Provider August 20, 2021 ITC-04 (Quarter Jul’21 – Sep’21) October 25, 2021 GSTR-9 & GSTR-9C FY 2020-2021
Reliance Retail to acquire 66.95% stake in Just Dial for $766 mn
Reliance Retail Ventures Limited (RRVL) will acquire a controlling 66.95% stake in local search engine platform Just Dial Ltd for Rs 5,713 crore ($766 million) via preferential allotment of shares and open offer. RRVL signed a definitive agreement to buy 40.95% stake in the company for around Rs 3,497 crore ($469 million) and make an open offer to acquire up to 26% equity. The deal includes preferential allotment of 2.12 crore equity shares equivalent to 25.33% post preferential share capital at Rs