Latest Blogs from SBS and Company LLP

    SBS Wiki E Journal June 2019

    In this edition, we bring to you certain important articles on various aspects.

    We have penned an article on ‘Interesting Issues in Arrest and Interplay of GST laws, IPC and PMLA’, which deals with the question whether completion of assessment is mandatory to initiate prosecution under GST laws, for which the Supreme Court has answered in negative. This judgment is important as it gives wide powers to the taxation authorities to tackle with the economic frauds. Further, in the article, we also discussed the interplay between GST laws, IPC and PMLA for the trending offence of circular trading.

    We have also brought an article, which deals with the recent amendments made to Foreign Contribution Regulation Act and rules made thereunder. I request everyone to read the same to keep yourself updated with the changes which effect your businesses.

    The CBDT has brought in new guidelines in suppression of the existing guidelines pertaining to compounding of offences. An article detailing and explaining the new guidelines are also part of this edition.

    MCA has notified the date for implementation of Ind AS 116 from 1st April 19. In this regard, an article on how the said new accounting standard transforms the way of accounting of leases is also covered in this edition.

    I hope that you will have good time reading this edition and please do share your feedback. I will also urge clients to mail us topics or issues on which you want us to deliberate in our future editions, so that we can contribute to the same.

    Key Topics:

    GST

    • INTERESTING ISSUES IN ARREST AND INTERPLAY OF GST LAWS, IPC AND PMLA

    DIRECT TAX

    • LATEST GUIDELINES ON COMPOUNDING

    AUDIT

    • TRANSFORMING THE WAY OF ACCOUTING FOR LEASES - IND AS 116

    FCRA

    • RECENT AMENDEMENTS TO FCRA
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