S. Jaykishan

Chartered Accountants

Author Archive for S Jaykishan

The Companies (Meetings of Board and its Powers) Amendment Rules, 2014

The Companies (Meetings of Board and its Powers) Amendment Rules, 2014

(Date: 17/06/2021)

The Ministry of Corporate Affairs (MCA) have completed scrapped the Rule restraining the presentation of approval of the annual financial statements, approval of the Board’s report etc. via video conferencing.

The government has notified The Companies (Meetings of Board and its Powers) Amendment Rules, 2021 which seeks to amend the Companies (Meetings of Board and its Powers) Rules, 2014 wef 15th June 2021 wherein Rule 4 has been omitted in […] Read More >>


RELAXATIONS IN VIEW OF COVID-19 PANDEMIC

Relaxations in view of COVID – 19 pandemic

(Date: 18/05/2021)

The pandemic while having disrupted the economic activities has impacted the economic growth of nations globally. In this regard, various regulatory measures have been initiated by the Government as well as regulatory bodies in strengthening the Indian economy while keeping the goal of promoting ease of doing business in sight. The measures, inter alia, are stated in the attachment below:

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Analysis of Provisions of Finance Bill, 2021

Analysis of Provisions of Finance Bill, 2021

– By Team S. Jaykishan

India’s Union Budget 2021, the first digital budget, touted as the most important budget in the decades, came at a time when India is reeling under the COVID-19 crisis. It reflects the government’s commitment on digital economy, technology, innovation, and R&D alongside adoption of new-age technologies, such as AI and ML, in administration of companies, taxation, digital payments and focus on fin-tech.

The Union Budget clearly enumerates […] Read More >>


GST e – Invoice

GST e – Invoice

– CA Nidhi Agrawal

GST has been changing ever since its launch. The new buzz word in the area is ‘GST e-invoice’. GST e-invoice aims at curbing GST evasion through issue of fake invoices and also aims at making the returns filing process simpler for businesses. To start with initially the GST Implementation Committee have made the e-invoicing applicable for registered persons having turnover > 500 Crores.

The article compiles and discusses e-invoice, what businesses needs to do, to […] Read More >>


A compilation of COVID-19 related disclosures made in the Auditor’s Report & Financial Statements of Listed Companies

A compilation of COVID-19 related disclosures made in the Auditor’s Report & Financial Statements of Listed Companies

– Team S. Jaykishan

The below article is a compilation of the disclosures made in the audit report and financial statements by some of the listed Companies in their Annual Report of Financial Year 19-20 in relation to the COVID – 19 outbreak. The document is updated last on 11th of June, 2020.

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MCA extends timeline for Name Reservation and Re-submission for Cos. and LLP’s

MCA extends timeline for Name Reservation and Re-submission for Cos. and LLP’s

(Date: 23/04/2020)

In view of the situation arising due to COVID-19 pandemic , the Ministry of Corporate Affairs (MCA) has extended timeline for Name Reservation and Re-submission for Companies & LLP’s by 20 days. As per norms, INC-24 –Application for Name Change (to be filed within 60 days) now, names expiring any day between 15.03.2020 to 03.05.2020 would be extended by 20 days beyond 03.05.2020.

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SEBI reduces time period for further issue of capital post buy-back

SEBI reduces time period for further issue of capital post buy-back

(Date: 23/04/2020)

Regulation 24(i)(f) of Buy-back Regulations restricts Cos. from raising further capital for a period of one year from the expiry of buyback period. Considering the recent developments relating to the COVID 19 pandemic, the SEBI received a number of suggestions for relaxation of conditions with respect to raising of funds from the securities market. Accordingly, SEBI has decided to reduce time period for further issue of capital raising […] Read More >>


Actionable Claim u/s 2(1) of the CGST Act, 2017

Actionable Claim u/s 2(1) of the CGST Act, 2017

– By CA Nidhi Agrawal

This Article draws reference to Section 2(1) of the CGST Act, 2017 which defines actionable claim as:

“actionable claim shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882”

Section 3 of the Transfer of Property Act (TPA) provides that:

“actionable claim means a claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or […] Read More >>