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THE CA JOURNAL

     
 
 
FROM THE PRESIDENT
In the preface to the first edition of the Code of Ethics of ICAI, the then ICAI President Dr. R. C. Cooper had noted: No booklet of this nature can achieve the object of outlining every possible act which may or may not constitute sound ethical conduct because the practice of professional ethics is largely a matter of conscience and the determination of members to distinguish between what is right and wrong. Ethics provides an understanding to differentiate between our right to do and what is right to do. Very rightly, the Institute urges its members to search their hearts and on science whenever in doubt, and there by assist towards the maintenance of high principles of professional conduct, as is expected of the constitution of a regulated profession... Read more
 
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ARTICLES
INSOLVENCY
IIIPI Writes Success Story, Captures a Share of over 60% of All Insolvency Professionals in India
IIIP of ICAI
Role of Statutory Auditors during Insolvency Proceedings
CA. Ojas Modi
Evolution of Insolvency and Bankruptcy Code, 2016 based on Judicial Interpretation and Pronouncement
CA. Pradip Kumar Ghosh.
Apex Court Reverses NCLAT’s Order – A Sign of Relief!!
Niddhi Parmar.
Corporate Insolvency Resolution Procedure under Indian Insolvency and Bankruptcy Code, 2016: A Comparative Perspective
Vivek Tyagi
Corporate Viaticum and Where We Stand in the World: An Analysis
CA. Anirudh Pradeep Kare.
ACCOUNTING
Fair Valuation –Pillar under Ind AS
CA. Rajesh Thakur.
GST
GST Audit – Some Basics
CA. Vasant Bhat.
GST Implementation - Impact on Accounting System
CA. Hitesh Arora.
Electronic Way Bill— A Procedural Insight and Implementation Aspects
CA. Madhulika Jain
TAXATION
Income Tax on Agriculture
CA. Chunauti H. Dholakia
CORPORATE & ALLIED LAWS
Law of Contract – Vital Issues
Naresh Kumar
SOCIAL RESPONSIBILITY
Social Audit of Corporate Social Responsibility Activities in India– A Step Towards Good Global Corporate Citizenship
Sathyanarayana Reddy P. and Dr. V. Balachandran
ECONOMY
Ease of Doing Business: An Analysis of What Went Well for India in ‘Doing Business 2018 Report’ – CA. Hemraj S. Joshi and Shakuntala Pareek
 
 
 
 
CIRCULARS AND NOTIFICATIONS
DIRECT TAXES
I NOTIFICATIONS
1. CBDT notifies Income Tax Return Forms for Assessment Year 2018-19-Notification No. 16/2018, dated 3-4-2018.
2. Procedure for submission of Form No. 60.
3. Procedure for registration and submission of Form No. 61.
4. Procedure for registration and submission of statement of financial transactions (SFT) as per Section 285BA of Income-tax Act, 1961.
5. Procedure for registration and submission of Statement of Reportable Account as per Section 285BA of Income-tax Act, 1961.
6. Transport allowance of R1600/- pm omitted w.e.f. AY 2019-20.
7. Minor Amendment in Form 49A/49AA - Notification No. 18/2018, dated 9-4-2018.
II. PRESS RELEASES/INSTRUCTIONS/OFFICE MEMO-RANDUM
1. India and Hong Kong sign Double Taxation Avoidance Agreement (DTAA) – Press Release, dated 19-3-2018.
2. CBDT issues clarification regarding requirement for furnishing of Country-by Country report under Section 286(4) of IT Act, 1961 – Press Release, dated 23-3-2018.
3. CBDT extends date for linking of Aadhaar with PAN – Press Release, dated 27-3-2018.
4. Indian Advance Pricing Agreement regime moves forward with the signing of 16 APAs by CBDT in March, 2018 – Press Release, dated 3-4-2018.
5. Clarification regarding applicability of standard deduction to pension received from former employer – Press Release, dated 5-4-2018
6. CBDT notifies the Protocol amending the Double Taxation Avoidance Convention (DTAC) etween India and Kazakhstan – Press Release, dated 13-4-2018.
INDIRECT TAX
CUSTOMS
1. Pre-Notice Consultation Regulations, 2018.
2. International courier terminals.
3. Refund of IGST on Export-Extension of date in SB005 alternate mechanism cases & clarifications in other cases-reg.
4. Clarification regarding EGM related cases in case of Refund of IGST on Export.
GOODS & SERVICES TAX
1. Processing of Claims for Refund.
2. Introduction of e-way bill.
3. Clarification on issues related to Job Work.
FEMA
1. Liberalised Remittance Scheme for Individuals – Daily Reporting of Transactions.
2. Foreign Exchange Management (Cross Border Merger) Regulations, 2018.
3. Foreign Investment in India
4. Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India), Regulations, 2018.
5. Gist of some Compounding Orders passed by Reserve Bank of India.
 
LEGAL DECISIONS
INCOME TAX
LD/66/157 The Director, Prasar Bharti vs. Commissioner of Income Tax 03rd April, 2018.
LD/66/158 M/s Regen Powertech Private Limited vs.The Central Board of Direct Taxes 28th March, 2018.
LD/66/159 Kalanithi Maran vs. Union of India 28th March, 2018.
LD/66/160 Academy of Medical Sciences vs. Commissioner of Income Tax 17th March, 2018.
LD/66/161 The Commissioner of Income Tax vs. Tata Ceramics Limited 8th March, 2018.
LD/66/162 The Commissioner of Income Tax vs. Cochin Shipyard Limited 1st March, 2018.
Transfer Pricing
LD/66/163 Honda Motor Co. Limited, Japan vs.Asst. Director of Income Tax, Noida 14th March, 2018.
LD/66/164 Prin. Commissioner of Income Tax vs.International Metro Civil Contractors 07th March, 2018.
International Taxation
LD/66/165 SeaBird Exploration FZ LLC.
LD/66/166 Godaddy.com LLC vs. ACIT Delhi ITAT.
Service Tax
LD/66/167 Sundaram Finance Ltd. vs. CCE&ST, LTU 16th November, 2017.
LD/66/168 CCE&ST vs. Analog Devices India Pvt Ltd. 13th November, 2017.
LD/66/169 Mumbai Police vs. CST 23rd March, 2018.
Excise
LD/66/170 Commissioner of Central Excise vs. Advance Steel Tubes Limited 06th March, 2018.
Disciplinary Case
 
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