S. Jaykishan

Chartered Accountants

Author Archive for S Jaykishan

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 >>





Filing of GSTR-9A waived off; GSTR-9 made optional incase of turnover up to Rs. 2 crore

Filing of GSTR-9A waived off; GSTR-9 made optional incase of turnover up to Rs. 2 crore

(Date: 21/9/2019)

GST Council in its 37th Meeting on September 20, 2019 effected a relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under:

a. waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods; and

b. filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for […] Read More >>


CBDT relaxes norms for launching prosecution in certain offences

CBDT relaxes norms for launching prosecution in certain offences

(Date: 13/09/2019)

In order to ensure that only deserving cases get prosecuted, the CBDT has relaxed criteria for launching prosecution in respect of certain offences. For example – In case of non-payment of TDS/TCS is Rs. 25 lakhs or below and delay in deposit is less than 60 days, cases shall not be processed for prosecution. Further, in case of failure to furnish ITR, prior approval of collegium of two CCIT/DGIT rank officer […] Read More >>