The 50th GST Council meeting and 500th edition of Karneeti were achieved. The Council meeting recommended various changes to GST rates and clarifications. It suggested reducing rates for snack pellets and imitation zari thread. It also exempted services of ISRO and levied 28% GST on purchases at casinos and online gaming. The Council further aimed to streamline compliance by requiring bank details submission and introducing penalties for mismatches. The biggest learning is that significant milestones require sustained effort and support over a long period of time.
Newsletter on daily professional updates- 23rd September 2019CA PRADEEP GOYAL
The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge
Have a look, here is your Daily dose of professional updates in newsletter form- 23st September, 2019
Newsletter on daily professional updates- 23rd September 2019CA PRADEEP GOYAL
The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge
Have a look, here is your Daily dose of professional updates in newsletter form- 23st September, 2019
Corporate Update
SEBI
Acceptance of e-PAN card for KYC purpose
Specifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
Clarification on monitoring of Interest/ Principal repayment and sharing of such information with Credit Rating Agencies by Debenture Trustees
Monitoring and Review of Ratings by Credit Rating Agencies (CRAs)
MCA
Ministry of Corporate Affairs issues a notification exempting every person or enterprise who is a party to a combination from giving notice within 30 days for a period of 5 years from the date of publication of the notification;
TAXATION
Rules related to Registration and Composition Scheme have been notified on 19th June, 2017& came into effect from 22nd June, 2017 in order to start the process of issue of Registration Certificate, called Goods and Services Tax Identification Number (GSTIN), to taxpayers already issued provisional ID for registration (PID) as well as to the new taxpayers.
Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods.
GSTN unveils excel template for to help taxpayers perform easy data entry offline before uploading on the GST portal; Excel template together with an offline tool will make uploading large numbers of invoices much easier and quick; Offline Tool to be unveiled on July 17, 2017.
Company Website:
www.acquisory.com
Newsletter on daily professional updates- 19th September 2019CA PRADEEP GOYAL
In today's environment, hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it
Here is your Daily dose of professional updates in newsletter form- 19th September, 2019
CORPORATE
RBI
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification - Reserve Bank of India (RBI) vide Notification dated 21st December, 2016 has notified to withdraw the provisions of the earlier circular issued on 19-12-2016 relating to deposit of more than Rs. 5,000/- only once in remaining days till 30-12-2016. The Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) at sub para (i) and (ii) will not apply to fully KYC compliant accounts.
MCA
National Company Law Tribunal (Amendment) Rules, 2016
Delegations of Powers to Regional Directors under section 458 of Companies Act, 2013
MCA revises E-Forms
SEBI
System-driven Disclosures in Securities Market
TAXATION
Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency allowed till 30th December, 2016.
Clarifications on Indirect Transfer provisions under the lncome Tax Act. 1961
Company website-
www.acquisory.com
"Goods and services tax” means any tax on supply of goods, or services or
both except taxes on the supply of the alcoholic liquor for human
consumption
Newsletter on daily professional updates- 13/02/2020CA PRADEEP GOYAL
“I believe that the greatest crime is
to learn something that can significantly benefit other people,
yet share it with no one.”
Here is your Daily dose of professional updates 13.02.2020
Newsletter on daily professional updates- 26th September 2019CA PRADEEP GOYAL
Knowledge is like a garden; if it is not cultivated, it cannot be harvested
Here is your Daily dose of professional updates in newsletter form- 26th September 2019
KGSGB Jobs Vacancies Notifications 2010Pankaj Singla
KGSGB Recruitment 2010: Kashi Gomti Samyukt Gramin (KGSG) Bank has published an advertisement for the recruitment of Officer Scale & Office Assistant. Interested candidates can apply before the Last date. To get the complete detail like interview schedules, documents, apply online and proof needed in interview.
Corporate Update
SEBI
Acceptance of e-PAN card for KYC purpose
Specifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
Clarification on monitoring of Interest/ Principal repayment and sharing of such information with Credit Rating Agencies by Debenture Trustees
Monitoring and Review of Ratings by Credit Rating Agencies (CRAs)
MCA
Ministry of Corporate Affairs issues a notification exempting every person or enterprise who is a party to a combination from giving notice within 30 days for a period of 5 years from the date of publication of the notification;
TAXATION
Rules related to Registration and Composition Scheme have been notified on 19th June, 2017& came into effect from 22nd June, 2017 in order to start the process of issue of Registration Certificate, called Goods and Services Tax Identification Number (GSTIN), to taxpayers already issued provisional ID for registration (PID) as well as to the new taxpayers.
Government imposes levy of 10% basic customs duty (BCD) on cellular mobile phone, specified parts thereof and certain electronic goods.
GSTN unveils excel template for to help taxpayers perform easy data entry offline before uploading on the GST portal; Excel template together with an offline tool will make uploading large numbers of invoices much easier and quick; Offline Tool to be unveiled on July 17, 2017.
Company Website:
www.acquisory.com
Newsletter on daily professional updates- 19th September 2019CA PRADEEP GOYAL
In today's environment, hoarding knowledge ultimately erodes your power. If you know something very important, the way to get power is by actually sharing it
Here is your Daily dose of professional updates in newsletter form- 19th September, 2019
CORPORATE
RBI
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification - Reserve Bank of India (RBI) vide Notification dated 21st December, 2016 has notified to withdraw the provisions of the earlier circular issued on 19-12-2016 relating to deposit of more than Rs. 5,000/- only once in remaining days till 30-12-2016. The Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) at sub para (i) and (ii) will not apply to fully KYC compliant accounts.
MCA
National Company Law Tribunal (Amendment) Rules, 2016
Delegations of Powers to Regional Directors under section 458 of Companies Act, 2013
MCA revises E-Forms
SEBI
System-driven Disclosures in Securities Market
TAXATION
Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency allowed till 30th December, 2016.
Clarifications on Indirect Transfer provisions under the lncome Tax Act. 1961
Company website-
www.acquisory.com
"Goods and services tax” means any tax on supply of goods, or services or
both except taxes on the supply of the alcoholic liquor for human
consumption
Newsletter on daily professional updates- 13/02/2020CA PRADEEP GOYAL
“I believe that the greatest crime is
to learn something that can significantly benefit other people,
yet share it with no one.”
Here is your Daily dose of professional updates 13.02.2020
Newsletter on daily professional updates- 26th September 2019CA PRADEEP GOYAL
Knowledge is like a garden; if it is not cultivated, it cannot be harvested
Here is your Daily dose of professional updates in newsletter form- 26th September 2019
KGSGB Jobs Vacancies Notifications 2010Pankaj Singla
KGSGB Recruitment 2010: Kashi Gomti Samyukt Gramin (KGSG) Bank has published an advertisement for the recruitment of Officer Scale & Office Assistant. Interested candidates can apply before the Last date. To get the complete detail like interview schedules, documents, apply online and proof needed in interview.
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what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Karneeti Part 500 - 500 & 50th GST - By CA Umesh Sharma.pdf
1. Karneeti Part 500 - 500th Karneeti & 50th GST Council Meeting Two
Milestones! - By CA Umesh Sharma
1 message
CA Umesh Sharma <fcaumeshsharma@gmail.com> Mon, 17 Jul, 2023 at 10:31
To: R.B Sharma and Co- Chartered Accountants <rbsharmaandco@gmail.com>
Bcc: karneeti7@googlegroups.com
Dear Professional Colleagues,
Karneeti Part 500
and also read this article by clicking on the link provided.
In Marathi - http://epaper.lokmat.com/articlepage.php?articleid=LOK_AULK_20230717_6_6
In English - http://epaper.lokmat.com/articlepage.php?articleid=LOKTIME_AULT_20230717_7_10
500th Karneeti & 50th GST Council Meeting
Two Milestones!
Arjuna (Fictional Character): Krishna, the last week saw the GST
Council and ISRO achieve their significant milestone. The Council
held its 50th Council meeting and ISRO launched the much-awaited
Chandrayaan-3. What is your opinion on this?
Krishna (Fictional Character): Arjuna, not to forget the
completion of 500 Karneeti. The 10-year-long journey has helped us
in achieving this milestone. The GST Council held its 50th Meeting
on 11th July 23 which was headed by the Union Finance Minister
Smt. Nirmala Sitharaman and which was aimed at streamlining
compliance with GST in the country.
Arjuna (Fictional Character): Krishna, what recommendations the
GST Council has made regarding the supply of goods?
Krishna (Fictional Character): Arjuna, the GST council
recommended the revision of GST Tax rates on Uncooked/Unfried
2. Snack Pellets and Imitation Zari Thread or Yarn to 5% from 18%
and 12% respectively.
Council has decided to clarify that raw cotton, including kala cotton
when supplied by agriculturists to co-operatives, would attract
RCM.
However, issues relating to past periods of all goods above will be
regularized on an “as is basis”.
IGST Exemption will be provided on the import of Dinutuximab
(Quarziba) medicine for personal use.
Arjuna (Fictional Character): Krishna, what do you mean by as
regularized on “as is basis”?
Krishna (Fictional Character): Arjuna, regularizing on an 'as is'
basis simply means, “Purani Bhool Chook Maaf”, i.e., disregarding
all pending issues prior to the notification of the current provision.
Arjuna (Fictional Character): Krishna, what recommendations
the Council has made for supply of services?
Krishna (Fictional Character): Arjuna, the GST Council has
decided to exempt services provided by ISRO, Antrix
Corporation Limited & New Space India Limited (NSIL) by way
of launching satellites. The council has also recommended to
levy tax at the rate 28% on the following events:
1. Purchase of Chips at Casinos.
2. Bets placed with Bookmaker/Totalisator on Horse Racing.
3. Bets placed on Online Gaming Sites.
Supply of food and beverages in Cinema Halls, when supplied
independently of cinema services, would be taxable at the rate
3. of 5%. However, if supplied compositely with Cinema Ticket
would attract 28% GST.
The council has also decided to clarify that supply of services by
director to the company in his personal capacity would not
attract GST at RCM. Moreover, it has been decided that GTAs
would not be required to file declaration for payment of taxes
under forward charge every year.
Arjuna (Fictional Character): Krishna, what recommendations
has the council made for facilitation of trade?
Krishna (Fictional Character): Arjuna, the council in the
meeting, has decided to take the following measures for
facilitation of trade:
1. Issuance of circular, further covering F.Y. 2019-20 and 2020-
21 in the relief already provided to taxpayers for differences in
GSTR 3B and 2A during the period 2017-18 & 2018-19, after
similar verification.
2. Extension of Amnesty Scheme till 31st Aug 2023 for non-filers
of GSTR-4, GSTR 9 & GSTR 10 and revocation of cancellation of
registration.
3. Recommendation of rules for appointment of GST Appellate
Tribunal President and Members.
4. Notification of provisions relating to GST Appellate Tribunal
with effect from 1st Aug 2023.
5. E-Invoicing applicable for supplies made to Government
department/Agencies/Local Authorities.
6. Relaxation provided in F.Y. 2021-22 regarding some tables of
GSTR 9 & 9C to be continued for F.Y. 2022-23.
4. 7. For small taxpayers, exemption from filing Annual Return
for turnover upto Rs. 2 crore to be continued for F.Y. 2022-23.
8. Interest on IGST wrongly availed and uitlized would be
levied after consideration of combined electronic ledger
balances under IGST, CGST & SGST.
Arjuna (Fictional Character): Krishna, what recommendations the
GST Council has made for Streamlining Compliance in GST?
Krishna (Fictional Character): Arjuna, the Council has
recommended amendments to Rule 10A relating to registration so
as to require taxpayers to furnish bank details within 30 days from
the grant of registration or before the filing of GSTR 1/IFF
whichever is earlier.
The Council has also recommended the following measures for
improving discipline among taxpayers:
1. Insertion of Rule 142B & Form GST DRC-01D to provide for
the manner of recovery of taxes and interest, in respect of
unsatisfactory responses to system-generated notices for
differences in GSTR 1 and GSTR 3B.
2. Issuance of system-generated notices for differences in ITC
as per GSTR 3B and GSTR 2A.
3. Issuance of notices for late filers of Annual returns.
Arjuna (Fictional Character): Krishna, what should one learn
from this?
Krishna (Fictional Character): Arjuna, the biggest learning from
the 50th GST Council Meeting and the 500th Karneeti is that the
achievement of significant milestones takes a significant amount of
time, perseverance, patience, and consistency. The 10-year-long
5. road of 500 Karneeti has not been any sort of a roller coaster. The
unwavering support from readers has made this journey a
memorable one. The 500 articles have not only seen significant
changes in the taxation of the country but have always aimed at
assisting the common man to get familiar with these tax evolutions
in a simpler manner. Thank you to the readers for their constant
support and interest, nothing would have been possible without
you. Happy Reading!
--
Thanks & Regards.
CA Umesh Sharma
Central Council Member ICAI
R.B. Sharma & Co.
Chartered Accountants
Block Number 7/8, 2nd Floor,
Shangrila Complex, Near Varad Ganesh,
Near Kartiki Hotel, Samarth Nagar,
Chhatrapati Sambhaji Nagar, Maharashtra 431001
*Contact no. 0240 233 2511
*Cell no. 09822079900
--
Your Comments are always welcome at fcaumeshsharma@gmail.com.
Enjoy Reading Karneeti Articles at www.karneeti.com
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