The Marwari way of Business, Finance and Accounting

This article showcases the origin of the Marwari way of business and how it shone to prominence during British Era. Read the rest of this entry »


Deferment of Compulsory E-Way Bill

Government of India in its official twitter handle has posted that compulsory E-Way bill has been deferred both for intra-State and Inter state movement of goods and is kept on trial basis only due to tech glitches.It is supposed to be applicable from a date to be announced later.

The post in the official twitter handle (@askGST_GoI )reads as follows:

“In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. It shall be made compulsory from a date to be announced”


Happy New Year

GSTR-1 Filing Date Extended

Last date of filing of GSTR1 has been extended for all classes of taxpayers required to file GSTR1 on quarterly basis or monthly basis:

GSTR1 date extension

Source: GST Twitter handle: @askGST_GoI.


Late fee for late filing of GSTR3B waived for the month of July

The Central Government vide Notification no:28/2017 has waived the late fee for late filing of GSTR3B for the month of July.

The notification reads as follows:

Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise and Customs

Notification No.28 /2017 – Central Tax

New Delhi, the 01st September, 2017

G.S.R. ( )E.:- In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017 by the due date.

[F. No. 349/74/2017-GST(Pt.)]


(Dr.Sreeparvathy S.L.)
Under Secretary to the Government of India

Extent of due date of filing of Income Tax Returns for A.Y. 2017-18 for those Tax payers whose last date of filing was 30th September, 2017

The CBDT vide F. No. 225/270/2017/ITA.II has extended the date of filing of Income Tax return from 30/09/2017 to 31/10/2017 for those return whose due date of filing of return was 30/09/2017 by passing an order u/s 119 of the Income Tax Act.

Following is the notification:

The Companies (Amendment) Bill, 2017

The Companies (Amendment) Bill, 2017 has been passed by the Lok Sabha on 27.07.2017 which aims at amending the provisions of Companies Act, 2013.

The Bill incorporates amendments in relation to structuring, disclosure and compliance requirements for companies

Read the rest of this entry »