group photo during annual general meeting · cma bhavan date of publication on 16-06-2020 &...
TRANSCRIPT
CMA BHAVAN
Date of Publication on 16-06-2020 & Date of Posting on 17-07-2020
GROUP PHOTO DURING ANNUAL GENERAL MEETINGL-RCMA Vijay Kiran Agastya, CMA Khaja Jalal Uddin,
CMA Hima Vidya S, CMA Lavanya KVN, CMA Lavanya Kanduri, CMA K.Ch.A.V.S.N. Murthy, CMA M. Venkateshwarlu,
CMA P.Chandra Sekhara Reddy
Volume No. 8, Issue No. 1, July 2020
AUGUGST, 2020
Compliance Due Date
Concerned (Reporting) Period
Compliance Detail Applicable To
HYDERABAD CIRCUIT - JULY, 2O20
I promise to serve you to the best of my ability.
When technology is changing at a dizzy rate, creativity and inspiring innovation are two key
elements for success. Efforts are initiated to bring about innovative content in all our programs to
enhance the value quotient of our profession. We strive to demonstrate our capabilities both for
Industry and Agriculture with cohesion. For attaining this goal, it is important that we put in more
efforts and work on the strategies relentlessly
Thank you one and all my dear professional colleagues for providing me an opportunity to serve
you as Chairman of this Prestigious ICAI, Hyderabad Chapter. Brimming with hopes and
aspirations let this be a year of most knowledge gaining year for our profession.
I pray to God to give you good health and to your family members under these pandemic conditions.
My heartfelt condolences to the bereaved families of our Veera Jawans.
Gurubhyo Namah ! My Gurus B.V. Rao Garu and N.G. Rao Garu, My Mentor Vijay Kiran Agastya
Garu.
Dear Professional Colleagues,
Think big
and
use Your complete resources to achieve it,
You will definitely achieve,
it may take more time than
Your estimate but you will.
With best regards,
CMA M. Venkateshwarlu B.Sc., M.Com., FCMA
AUGUGST, 2020
Compliance Due Date
Concerned (Reporting) Period
Compliance Detail Applicable To
While saying `Adieu', I look forward for your valuable inputs in the future for making our `Circuit' increasingly better in terms of the information brought to you. We will always cherish your inputs in this regard.
In addition to our regular and essential updates, such as Performance Track of Subcommittees, Finance Clips, CMA Update & Compliance Calendar, from the current edition of Circuit we promise to include various other interesting columns.
You find HCCA in action. For a start, you read the statements of purpose of sub-committees on their activities as per the functions assigned to them. Our chairman has started synergizing the efforts & initiatives of all his team members. Several initiatives are planned by various new subcommittees to keep HCCA in action.
I also have the pleasure of extending a hearty welcome to our New Chairman CMA M. Venkateswarlu. He has accepted this pivotal role and is focused on facilitating services to MSME and agricultural sectors. He has come with several new ideas. He has initiated setting up of a subcommittee on INNOVATIONS. He is keen in the overall development of HCCA.
Reflecting specifically on our sphere of experience and influence, this month has marked a gamut of changes, right from the change in Management Committee. I will take the privilege and honor of placing on record, the great services rendered by our immediate past chairperson CMA KVN Lavanya and her team. Ex-Chairperson has left no stone unturned in her pursuit of implementing a host of great ideas, many of which will continue to be in force for a long time to come.
We are faced with a situation that provides opportunity—and a need—for many companies to build competencies they wish they had invested in before. These could be any or all of the aspects like having an increased/improved digital footprint, being data driven, have more variable cost structures, agile operations and automation.
The coronavirus pandemic has a profound impact on people's health, business and economy. It made the future uncertain. The crisis has also given us, as professionals, the opportunity to learn some crucial lessons that can strengthen our role and contribute to the welfare of the society. The process for a vaccine to become available is time consuming. Businesses around the world have already started reorganizing themselves and adapting to the COVID situations by ensuring compliance with all the guidelines issued by the authorities. This is a time for all of us to assimilate our experiences, plan and adapt for a post pandemic world.
The Future is uncertain, but the end is always near- Jim Morrison
At the outset, I am glad to be associated with our prestigious chapter publication, starting with this July edition of `CIRCUIT`.
Dear Professional Colleagues,
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With best regards,
CMA Lavanya Kanduri M.Com.,M.B.A., ACMA., (PhD)
HYDERABAD CIRCUIT - JULY, 2O20
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MANAGING COMMITTEE 2020-21
CHAIRMANCMA M. Venkateshwarlu
email: [email protected]
VICE-CHAIRMANCMA Khaja Jalal Uddin
email: [email protected]
SECRETARYHima Vidya S.
email: [email protected]
TREASURERCMA Lavanya Kanduri
email: [email protected]
MEMBERCMA Lavanya K.V.N
email: [email protected]
MEMBERCMA Sirisha C
email: [email protected]
MEMBER
CMA K. Someswara Babuemail: [email protected]
MEMBERCMA Kalyani P
email: [email protected]
EDITORIAL BOARD
CHAIRPERSON CMA Lavanya Kanduri
MENTOR CMA J.S. Anand, Past Chairman-HCCA
CMA Sai Harika Pavani
MEMBER
CMA Rajapeta Satyanarayana Yadav CMA Rama Narasimham Nimishakavi
11 149
PerformanceTrack
4
Sub-CommitteeMembers
1815
PhotoGallery
2925
SUB-COMMITTEE MEMBERS AND THEIR MISSION
CMA Khaja Jalal Uddin Chairman
Mission:- Brand Name & Identity, Branding across various Media, Website,Picking the right target audience & reaching out to them, Meeting with CFO & CEO
Chairman-Branding &Media Sub-Committee
CMA J.S. AnandAdvisorCMA Vijay Kiran Agastya - Member, SIRC of ICMAI MentorMr. S. Venkata Rama Rao
Mr. Shyank Kaushik
Ms. M. Jayasree
Mr. Harsh Bingani
Mr. Jagan Mohan
Student MembersCMA G. Suresh Kumar Verma
CMA I. Shravanthi
CMA Rama Narasimham Nimishakavi
CMA N. Ganesh
MembersCMA M. Venkateshwarlu Chairman
Mission:- "Ideas on how to make our profession more attractive to Students, Members and more useful to Organisations".
Innovative Thoughts Sub-Committee
CMA Dr. Chandra Sekhar Rajanala
MentorCMA N. Ganesh
CMA Khaja Jalal Uddin
MembersCMA M. Venkateshwarlu -Chairman
Mission :- Best training facilities and selection of best lectures with world class standards
Coaching Admin. Sub-Committee
Page 5
CMA Mallikharjuna Gupta
Chairperson
CMA Koteswara Rao
CMA C. Vajralingam
CMA Adthya
CMA Alakanandha
CMA Usha Sundari
Circuit Editorial BoardMission:-Constantly strive to collect, collate and publish practically applicable
knowledge & experiences along with latest news and updates.
Chairperson
CMA Lavanya Kanduri
CMA Hima Vidya Sanagavarapu
CMA Farook Musthafa
CMA Someswara Rao
Members
Advisors
CMA Santosh
CMA Singupally Surendra Naidu
CMA Surendra Kumar
Members
CMA Khaja Jalal Uddin –Chairman
Chairman
Mission : �The sub-committee aims at focusing on practicing cost accountants to
enrich their practice in MSME.
MSME Helpdesk Sub-Committee
CMA Kedarnath P.
CMA G. Tharak Raj
CMA Sai Kumar Goud
CMA Sudha Rani V.
Members
Misson: To facilitate maintaining and enhancing pro credentials
Professional Development Sub-Committee
CMA Uday Shankar
Page 6
Mentor
CMA D.L.S. Sreshti
Student Services Sub-CommitteeMission:- The sub-committee aims at focusing on mentoring of students, creating
adequate networking platform for students, strengthening the Student Circuit and
attending to the technical needs of the students with regard to examination
preparation using a more collaborative platform.
Chairperson
CMA Lavanya K.V.N
Members
CMA Soumya Jhunjhunwala, Member
CMA Sai Harika Pavani
CMA Faisal Ali Khan – Member
Advisors
CMA Vijay Kiran Agastya - Member, SIRC of ICMAI
Practitioners Forum Sub-CommitteeMission: Sub Committee also Focus on new practicing Cost Accountants
empowerment with respect to various types of Avenues. Also designing Course called
New Practicing Cost Accountant Career planning Course, Twice in a year
Also New Practicing Cost Accountants help desk which include providing a place with
work station and other resources
CMA Bhanu Prakash
CMA Niharika
CMA BVL Narasimha Reddy
CMA Rajasekhar
Members
CMA Lavanya Kanduri
Chairperson
Mission: Focus on nurturing sustainable relationships and driving members for
professional momentum
Members' Services Sub-Committee
CMA J.S. Anand, Past Chairman-HCCA
Mentor
CMA Sai Harika Pavani
CMA Rama Narasimham Nimishakavi
CMA R. Satya Narayana Yadav
Members
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CMA Narasimha Rao,
CMA Tappeta Sudhakar Reddy,
Advisors:
CMA AVNS Nageswara Rao
CMA M Kameswara Rao
Chairman - Taxation Sub-Committee
Mission
Objectives of Taxation Sub committee :-
1. Highlighting Scope of Practicing CMA'S in Taxation.
2. Conducting Sessions on Income Tax and GST with professionals.
3. Learning sessions for members on Taxation and interactive sessions with CGST
and SGST officials at regular intervals.
4.Training on I.Tax returns and GST Returns filing.
5. Appeals and other litigation matters with Tribunals of Income tax and GST.
6.If any issues relating to other taxes and duties such as Vat, Customs etc.
Chairman
CMA K. Someswara Babu
Members
CMA K.V.N. Lavanya
CMA Hima Vidya S.
CMA S. Nagendra Kumar
CMA B. Mallikharjuna Gupta
CMA P. Kedarnath
CMA N. Jagannath
Chairman
Members:
CMA S Narendra Kumar,
CMA NSV Krishna Rao,
CMA MP Arun Kumar,
CMA J Naresh,
CMA E Veera Bradram,
CMA P Chandra sekhara Reddy,
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Performance Track333
HYDERABAD CIRCUIT - JULY, 2O20
The Annual General Meeting of the Hyderabad chapter was held on 20th June, 2020 through
Video conference. The following office-bearers have been elected in the management
committee meeting of Hyderabad Chapter for the year 2020-21.
20.06.2020 – Annual General Meeting
Management Information System report plays a key role in improving performance,
productivity, and profitability of the organization. It provides the necessary information to
managers and supervisors at various levels to help them to discharge their functions of
organising, planning, control and decision making. CMA T.C.A. Srinivasa Prasad is a
proficient in our profession and respected for his knowledge and work. He has detailed about
MIS Development, Key Performance Indicators (KPIs) in CMA Perspective i.e Resource
Utilization, TEP vs industry Stds, Treasury Management, Customer Retention, Customer
Service Cost, Supplier Compliance, People Profit Chain, Logistics Management, TPM &
TQM, and Various Reports.
16.06.2020 – Management Information System and Reports
We have conducted an interactive meeting with all Past Chairmen on 13th June 2020 at 5.30
pm through video conferencing to discuss the Chapter activities being carried out in a year.
13.06.2020 Interactive session with Past Chairmen & Past President
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Performance Track333
HYDERABAD CIRCUIT - JULY, 2O20
Page 10
We have sent the representations received from our members related to GST Law &
Procedures (both IT & Legal) proposed to be discussed in the Grievance Redressal
Committee (GRC) meeting to be held on 30.06.2020
30.06.2020 Representations related to GST Law & Procedures sent to Grievance
Redressal Committee
We have scheduled a meeting of all Past Chairman and Past Presidents from Hyderabad
on 26th June, 2020 through Video conferencing for their suggestions. Our past chairmen
and past presidents gave their valuable suggestions for the improvement of our chapter.
26.06.2020- Meeting with Past Chairmen and Past Presidents
This Meeting was attended by 30 plus CMAs and almost all the CMAs have admitted that
our Institute should involve in the subject of agricultural costing. CMA D. Zitendra Rao,
CMA M. Venkateshwarlu, CMA Debaraja Sahu, CMA D. Venkateswarlu, CMA Janardhan
Reddy, CMA Lavanya K.V.N, CMA Surya Prakasham, CMA Ramana Murthy, CMA
Revala, CMA N. Krishnan, CMA Khaja Jalal Uddin expressed their views. We have
forwarded the views of our members to take a move towards Agricultural Costing.
21.06.2020 Brain – Storming session on “Agricultural Costing”
HYDERABAD CIRCUIT - JULY, 2O20
To be disclosed in 'Ineligible ITC' column during the month.
Disclosure in GSTR 3B
W.e.f 1.4.2019 under new scheme, the Input Tax Credit is not be eligible and any available ITC balance cannot be used for payment of such GST liability.
Input Tax Credit
• Rate of 5% for commercial apartments in projects with commercial area not more than 15%.
• Rate of 5% for residential apartments which are non – affordable housing;
• Rate of 1% in case of apartments under affordable housing;
GST is applicable with effect from April 1st 2019 at the rate of:
A. New Scheme
OVERVIEW – NEW RATE AND OLD RATE REGIME
Page 11
GST Impact onReal Estate Industry
CMA Manasa Reddy BonamRamky Estates and Farms Limited
A. Points to ponder
For Residential and Commercial apartments:
DEVELOPMENT RIGHTS
Note: Booked prior to 01.04.2019, new rate shall be applicable on installments payable on or after 01.04.2019.
In case the developer wishes to continue with the existing scheme, he has to opt for the same by filing the prescribed form - IV on or before 20thMay 2019. The option of going into new scheme or continue with the existing scheme is based on the project and the said project is as per the meaning given for Real Estate Project under Real Estate Regulation Act (RERA).
B. Old Scheme
Note 1: In case of Residential: The developer is liable to pay GST under Reverse Charge Mechanism. For units remaining unsold on Completion Certificate (CC) at the rate of 18%. However it is restricted to 5% on theValue of flat sold closer to the CC date.
Note 2: In case of Commercial: It is exempt.
The Time of Supply will be the 'date of completion / occupancy certificate in the case where tax is to be remitted by the Builder/Developer.
A. Time of supply and Valuation in case of Development rights:
Time of supply would be earlier of (a) percentage of completion or (b) date of OC/CC for project. Rate of
tax and value of supply (of development rights) would be 18% on deemed value on RCM basis.
The Value of supply to be derived from the valuation method in explanation 1A of 04/2019 on the date when development rights were transferred, i.e, date of joint-development agreement.
B. Point to ponder:
In respect of all projects the DRs supply which are 'intended for sale' is fallen under reverse
Charge mechanism whether Landowner is registered or unregistered (05/2019);
In respect of residential projects for supply of DRs that are 'intended for sale' is fully exempted fromunder RCM where units are sold by date of OC/CC.
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HYDERABAD CIRCUIT - JULY, 2O20
Relevant definitions extract for reference
RREP: The term “Residential Real Estate Project
(RREP) has been defined in the notification to
mean a REP in which the carpet area of the
commercial apartments is not more than 15% of
the total carpet area of all the apartments in the
REP.
REP: Real Estate Project (REP) as per
explanation 4(xviii) of notification No. 3/2019 ibid,
the definition would be as per section 2(zn) of the
RERA which defines the term REP as: The
development of a building or a building consisting
of apartments, or converting an existing building
or a part thereof into apartments, or The
development of land into plots or apartment, as
the case may be, for the purpose of selling all or
some of the said apartments or plots or building,
as the case may be, and also includes the
common areas, the development works, all
improvements and structures thereon, and all
easement, rights and appurtenances belonging
thereto.
Carpet area: It is defined in clause (k) of section
2 of the RERA, 2016 and the same has been
adopted in the notification.
Project: As per paragraph 4 (xv) of notification
No. 3/2019 ibid, “Project” shall mean a Real
Estate Project (REP) or Residential Real Estate
Project (RREP).
Affordable residential apartment has been
defined to extend the scope to include
apartments having carpet area of 60 sqm/90 sqm
and where consideration does not exceed Rs. 45
lakhs. The definition is as per explanation 4(xvi)
of notification No. 3/2019
Fra Luca Bartolomeo de Pacioli (sometimes
Paccioli or Paciolo- 1447 AD to 1517 AD)was an
Ital ian mathematician, Franciscan friar,
collaborator with Leonardo da Vinci, and an early
contributor to the field now known as accounting.
He is referred to as "The Father of Accounting and
Bookkeeping" in Europe and he was the second
person to publish a work on the double-entry
system of book-keeping on the continent. He was
also called Luca di Borgo after his birthplace,
Borgo Sansepolcro, Tuscany.
Impact on accounting and business:
Pacioli dramatically affected the practice of
accounting by describing the double-entry
accounting method used in parts of Italy. This
revolutionized how businesses oversaw their
operations, enabling improved efficiency and
profitability. The Summa's section on accounting
was used internationally as an accounting
textbook up to the mid-16th century. The
essentials of double-entry accounting have for the
most part remain unchanged for over 500 years.
"Accounting practitioners in public accounting,
industry, and not-for-profit organizations, as well
as investors, lending institutions, business firms,
and all other users for financial information are
indebted to Luca Pacioli for his monumental role in
the development of accounting.
The ICAEW Library's rare book collection at
Chartered Accountants' Hall holds the complete
published works of Luca Pacioli. Sections of two of
Pacioli's books, 'Summa de arithmetica' and
'Divina proportione' can be viewed online using
'Turning the Pages', an interactive tool developed
by the British Library.
Genesis of Double Entry Book Keeping
Page 13
- compiled by CMA J.S. Anand
HYDERABAD CIRCUIT - JULY, 2O20
HYDERABAD CIRCUIT - JULY, 2O20
• BULK UDIN: UDIN generation in bulk for
Certificates is now available on UDIN Portal. Using
this facility now the members of ICAI will be able to
generate UDIN in bulk (upto 300) in one go and for
details refer to portal. https://udin.icai.org/register.
• ICAI Membership fees: The ICAI Council has
decided to give an option to pay advance
Membership/COP fee in exact amount for 10 years
along with GST as a final payment and in case of any
shortfall owing to revision of fee in future; their
Name/COP will not be removed from the register of
members on account of such revision. This facility
will be applicable w.e.f. 1st April, 2020.
• Company Secretary for Banks: RBI in its
discussion paper dated 12th June, 2020 has
indicated that all banks whether listed or otherwise
shall have a Company Secretary who is bound by
the professional standards of a Company secretary.
The secretary shall report to the Chair of the board
and the discussion paper is open for comments and
suggestions etc., from stakeholders by 15th July,
2020 and for details refer to www.rbi.gov.in
• CS exam postponed: The Institute of Company
Secretaries of India, after considering the prevalent
situation due to COVID-19 Pandemic, has decided
to further postpone its June-2020 Session
Examinations of Foundation Programme, Executive
Programme, Professional Programme and Post
Membership Qualification (PMQ) scheduled to be
held from 6th July to 16th July, 2020. The
examinations of the above session will now be held
from 18th August to 28th August, 2020. Further, ICSI
allows students to opt for Dec 2020 exam vide
notification dated 17-6-2020 and for details refer to
www.icsi.org
• CMA June 2020 exams postponed: The CMA
Foundation, Intermediate and Final examinations
that were scheduled from 20th-28th July, 2020 will
now commence from 1st September, 2020 and for
details refer to www.icmai.in
• Cost Inflation Index FY 2020-21: CBDT Notified
that the Cost Inflation Index under Sec 48 of IT Act
1961 for FY 2020-21 will be 301 and the same is
applicable from 1st April, 2020 and for AY 2021-22
vide Notification No.32/2020 dated 12th June,2020
and for details refer to www.incometaxindia.gov.in
• Opt out option for CA July 2020 exam: ICAI has
announced that the students (who have already
submitted online examination application for May
2020 Examination cycle) shall be allowed to OPT-
OUT and carry forward their candidature to next
examination i.e. November, 2020 examination cycle
and for details refer to www.icai.org
• Auditor’s Return: Auditors are required to file
NFRA-2e Form which is notified on 9th Dec, 2020
are required to file Return within 210 days from the
date of notification of the Form and for details refer to
www.mca.gov.in
• Advisory on disclosures in Audit Report:
Technical Cell (Cost Audit & Statutory Compliances)
of The Institute of Cost Accountants India has
considered this challenge faced by the
Professionals engaged in Audit & Assurance
Function and has come out with this Advisory on
Disclosures in the Audit Report in light of the
Lockdown due to COVID19 Pandemic. The Advisory
gives Model Disclosures that can be used by the
Audit & Assurance Professionals (including Cost
Auditors) considering the limitations in Audit
Processes due to Lockdown on account of COVID19
Pandemic and for details refer to www.icmai.in
• Furnishing Annual Secretarial Report: SEBI has
extended the due date of furnish Annual Secretarial
Report for FY 2019-20 to 31st July, 2020 and for
details refer to www.sebi.gov.in
• Registration to CA Foundation course date
extended: The Council of the ICAI has relaxed the
eligibility criteria to register in Foundation Course
due to outbreak of COVID19 as a one-time measure
and has extended the last date for registration to the
Foundation Course from 30th June, 2020 to 31st
August 2020 and for details refer to www.icai.org
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HYDERABAD CIRCUIT - JULY, 2O20
CMA UPDATE GENERAL
• Further revision in MSME definitions: Government has further revised the limits in the definition of MSMEs which now states for Micro Enterprises, Small enterprises & Medium enterprises the revised limits are Capitals of Rs 1, 5, 50 crore and Turnover limits would be Rs 5,50 & 250 Crores respectively vide announcement made giving effect to them from 1st July, 2020 by the Government. As part of new definition, Exports will not be counted in turnover for any enterprises whether micro, small or medium.
• PM launches CHAMPIONS platform: Prime Minister Shri Narendra Modi today launched the technology platform CHAMPIONS which stands for:
Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength for MSMEs vide PIB dated 1st June, 2020.
• Scheme for street vendors: A Memorandum of Understanding has been signed on 19th June, 2020 between Ministry of Housing & Urban Affairs and Small Industries Development Bank of India (SIDBI), here today, in order to engage SIDBI as the Implementation Agency for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) – a Special Micro-Credit Facility for Street Vendors.
• Filing dates of IT Returns extended: The Government has issued a Notification on 24th June, 2020, the salient features of which are:
I. The time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to 31st July, 2020. II. Due date for income tax return for the FY 2019-20 (AY 2020-21) has been extended to 30th November, 2020. Hence, the returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 c a n b e f i l e d u p t o 3 0 t h N o v e m b e r , 2020.Consequently, the date for furnishing tax audit report has also been extended to 31st October, 2020
and for details refer to CBDT’s Notification dated 24th June, 2020 on www.incometaxindia.gov.in
MSMEs: Government has notified Investment and Turnover criteria for MSMEs vide Notification dated 26th June, 2020.
LABOUR
• Amendments to EPF: EPFO has notified that the Employer contributions to the social security scheme run by the EPFO shall be 10 per cent of the wages of May, June and July which would stand due in June, July and August, respectively and for details refer towww.epfo.gov.in
GST
• Clarification on applicability of GST on Directors: CBIC clarified that the remuneration paid to such independent directors, or those directors, by whatever name called, who are not employees of the said company, is taxable in hands of the company, on reverse charge basis and for details refer to Circular No. 140/09/2020-GST dated 10th June, 2020.
• NIL GST Return through SMS: In a significant move towards taxpayer facilitation, the Government has allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS from 1/7/2020. This would substantially improve ease of GST compliance for over 22 lakh registered taxpayers who had to otherwise log into their account on the common portal and then file their returns every month. Now, these taxpayers with NIL liability need not log on to the GST Portal and may file their NIL returns through a SMS and for details refer to www.gst.gov.in
• 40th GST Council meeting: FM held 40th GST Council meeting on 12th June, 2020 through Video conference and the meeting took important decisions like - 'NIL' late fee if there is no tax liability; 'Maximum late fee capped at Rs.500/- per return if there is any tax liability, for filing of application for revocation of cancellation of registration extended upto 30.09.2020, in all cases where registrations have been cancelled till 12.06.2020 and for full details refer to www.gst.gov.in
• GST issue on Directors clarifications of CBIC: CBIC has clarified that the part of Director's remuneration which is declared separately 'other than salaries' in the Company's accounts and subjected to TDS under Section 194J of the IT Act as
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HYDERABAD CIRCUIT - JULY, 2O20
'Fees for professional or Technical Services' shall be treated as consideration for providing services which are outside the scope of Schedule III of the CGST Act, and is therefore, taxable and covered under reverse charge mechanism in terms of Notification No. 13/2017 – Central Tax (Rate) dated 28.06.2017(as amended), the recipient of the said services i.e. the Company, is liable to discharge the applicable GST on it. Now, it is amply clear that in case of directors the part of remuneration accounted for as salaries in the books of accounts and TDS deducted under Section 192, GST is not applicable therefore no liability under RCM and for details refer to www.cbic.gov.in
• GST Refund clarification: CBIC clarified that refund of ITC invoices relating to imports, ISD invoices and the inward supplies liable to Reverse Charge (RCM supplies) will be processed based on other means of verification and not be restricted if the same is not appearing in GSTR 2A of the applicant and for details refer to www.cbic.gov.in
• File GSTR-3B/GSTR-1 through EVC: GST Registered person who are also registered under the provisions of the Companies Act, 2013 are allowed to file Form GSTR-3B/GSTR- 1 using EVC, vide Notification No. 48/2020 – Central Tax dated 19.06.2020 and refer to it on www.cbic.gov.in
• GSTR-3B Return: CBIC extended the due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs.5 crore to 1st Oct 2020 and for full details refer to Notification No. 54/2020-Central Tax Dated 24th June, 2020.
RBI
• Payment systems compliances date extended: RBI has extended the time line for compliance with various payment system requirements RBI/2019-20/251 DPSS.CO.PD.No.1897/02.14.003/2019-20 dated 4th June, 2020 and for details refer to www.rbi.gov.in
CUSTOMS
• Faceless Assessment of BEs: Notification No.50/2020-Customs dated 5th June, 2020 has been issued by CBIC to empower Customs officers as ‘proper officers’ to conduct faceless or remote assessment of Bills of Entry filed under Section 46 of the Customs Act, 1962 for import in another Customs station and for details refer to www.cbic.gov.in
Faceless assessment by CBIC: CBIC has issued Circular No.28/2020-Customs dated 5th June, 2020 regarding Faceless Assessment by CBIC and for details refer the circular on www.cbic.gov.in
• End to End paperless Exports: Shri Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) on 24-6-2020 unveiled a Secure QR coded Shipping Bill that would be electronically sent to exporters after the Customs allows export. This eliminates in one stroke the requirement of the exporters having to approach the Customs officers for proof of export. This also makes the end to end Customs export process fully electronic, from the filing of the Shipping Bill to the final order to allow export. Today’s initiative in yet another step taken by CBIC for fulfilling its commitment to a Faceless, Paperless, and Contactless Customs under the umbrella of its “Turant Customs” programme and for details refer to www.cbic.gov.in
• Electronic Shipping Bill and eGate passes: The CBIC, in order to do the paper-less clearances, has launched digitally signed shipping bills and e-gatepass vide Circular No.30/2020-Customs and same will be effective from June 22nd, 2020.
INCOME TAX
• Form 26AS specified financial transactions: The revised Form 26AS will show the specified financial transactions which have been undertaken from June 1, 2020. However, these transactions will be shown only if they cross the specified limit in a financial year. For instance, if the aggregate credit card bill paid via electronic modes (not including the cash payment) exceeds Rs.10 lakh, then payment of credit card bill will be reflected in Form 26AS. Similarly, if the mutual fund investments in a financial year exceeds Rs.10lakh, only then such transactions will be reflected in the Form 26AS.
DGFT/FEMA
• MEIS/SEIS Scips: Relaxation has been provided from applicable late cuts for SEIS/MEIS applications and the validity of scrips issued under Chapter 3 of FTP which are expiring between 01.03.2020 to 30.06.2020 has been extended upto 30.09.2020 and for details refer to DGFT’s Public Notice No.08/2015-20 dated 1st June, 2020 on www.dgft.gov.in
• Imports & Exports: DGFT has issued Policy Circular No.25/2015-20 dated 23rd April, 2020 for
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Page 17
extension in import Validity and Export obligation period in Advance Authorizations/DFIA etc and refer to the circular for details on www.dgft.gov.in
SEBI
• Angel Fund Regulations: SEBI clarified on Angel Fund Regu la t ions v ide SEBI / IMD/DoF- 6/OW/2020/10786 dated 12th June, 2020 and for details refer to www.sebi.gov.in
• Extends date of submission of Reports: SEBI has extended the due date of submission of quarterly, half yearly and Annual returns by those listed NCDs, NCRPS,CPs and MDS for the quarter ending 31st March, 2020 and also submission of quarterly and annual financial results for the year ending 31st March, 2020 to 31st July, 2020 and for details refer to www.sebi.gov.in
INSURANCE
• Proportionate deductions in Health policies: IRDA has issued Revised Norms in respect of deductibles under Health Policies issued by the Insurance companies and states that Insurers are not permitted to apply proportionate deduction for ‘ICU charges’ as different categories of ICU are not there. Further, expenses that are not allowed to be part of the definition of ‘associate medical expenses’ a. Cost of pharmacy and consumables; b. Cost of implants and medical devices, c. Cost of diagnostics and for details refer to IRDA circular No.151/06/20 dated 11th June, 2020.
• COVID -19 Insurance policies: IRDA has issued guidelines for issue of short term health insurance policies to cover COVID-19 and the same remain valid for issue of short term policies till 31st March, 2021 unless extended further and for details refer to www.irda.gov.in
• Guidelines for Insolvency Professionals: Insolvency Professionals to act as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs) and Bankruptcy Trustees (Recommendation) Guidelines, 2020 and for details refer to www.mca.gov.in
COMPANIES ACT
• Standard Operating Procedures: NCLAT has announced Standard Operating Procedure for Ld. Advocate/ Authorized Representative/Party-in-Person for mentioning the matter for hearing through virtual mode wef 1st June, 2020.
• Deposit Repayment Reserve creation: MCA gave extension of time till 30th September 2020 to creation of deposit repayment reserve of 20% u/s. 73(2)(C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 vide General Circular No. 24/2020 Dated: 19th June, 2020 and for details refer to www.mca.gov.in
• Holding EGM: MCA decided to allow companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with the framework provided in the aforesaid Circulars upto 30th September, 2020 vide General Circular No.22/2020 dated 15.-06-2020 and refer the same on www.mca.gov.in
• Time relaxation for filing of various types of charges: MCA vide General Circular Dated 17th June, 2020 has introduced scheme for relaxation of time for filing Forms related to creation or modification of charges and for details refer to www.mca.gov.in
• Charge creation Forms: The Ministry of Corporate Affairs ("MCA") vide its General Circular dated 17th June, 2020 has introduced a "scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013" for the purpose of condoning the delay in filing certain forms related to creation/ modification of charges and this will come into effect from 17-6-2020 and for details refer to www.mca.gov.in
• Further extension for names Reserved etc.,: In view of the situation arising due to COVID- 19 pandemic and extended lockdown period, Ministry of Corporate Affairs has hosted revised details of PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RE- SUBMISSION OF FORMS on its website. PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION OF FORMS ARE FURTHER EXTENDED BEYOND 30th JUNE 2020.
• Govt. Companies with 100% shareholding held by government: Amendments have been notified to the Companies Amendment Rules 2020 which indicate -a duly notarized indemnity bond in Form STK-3A shall be given by an authorized representative, not below the rank of Under Secretary or its equivalent, in the administrative Ministry or Department of the Government of India or the State Government, as the case may be, on behalf of the company and for details refer to www.mca.gov.in
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The world is facing an unprecedented challenge and
change due to the pandemic like situation.
Technically speaking, the first quarter of the financial
year has been wiped out for many organizations and
sectors. If the vaccine for the SARS-COV2 is not
developed in the short term, then there is a likely
hood of the calendar year 2020 being wiped out for
business in case if the business does not adapt to
the New Normal and the citizens of the nation do not
follow proper hygiene and social distance norms.
Apart from these, the dietary habits of the people
have to change for improving immunity. These are
changes on one side, and we as Cost Accountants
can provide value addition as Management
Accountants by helping the clients in their strategy
and implementation of the same. Many of us must
have experienced the same as a practicing Cost
Accountants or employees in the organization
where we work to know the business dynamics and
the latest changes happening in the market. To
address this, we should take up the assignments as
management consultants or internal auditors for the
organization, and this process is nothing but
Pivoting.
The reason to adopt a different approach is required
as the organizations are facing a cash crunch, and
this has resulted in delayed payment of
remuneration or professional fee or salary cuts and
retrenchment. This kind of situation can lead to
some anxiety employees, and they may tend to
commit fraud in the organization resulting in another
set of challenges.
As the saying goes, tough times do not last. Still,
only tough people do last, and, in that process, only
the approach for the practicing cost accountants is a
management consultancy. For this,we need to reskill
and learn new methodologies to be successful
professionals.
The concept of pivoting is normally followed in start-up
ecosystems. Pivoting is the need of the hour for the
CMAs while doing the CostAudits. The works to be
picked up are management consultancy or internal
audits. In case if you are already doing an internal
audit, you should also have the element of strategy
while submitting the internal audit report. The report
will help the client to do a soul searching as they are
normally involved and held up with the daily activities
like operations planning, procurement of raw
materials or following up with the vendor or engaged
in the process of improving the order book or dousing
of the employee dissatisfaction on account of
reduction of salaries. In this process, it will not help
them to see the opportunities that are coming, and
they have as their energies are used completely in the
day to day issues. The internal audit report will be an
eye-opener for the entrepreneur. Let's understand
what is Pivoting and what the steps to be considered
while drafting the internal auditor report or as a
management consultant for the clients.
What is Pivoting?
Pivoting is the process of shifting the strategy, and
sometimes it takes a drastic change in the vision and
mission of the organization for a short period. During
the lockdown, we have seen the star hotels delivering
food through the food delivery applications like
Swiggy or Zomato or the Chefs conducting the online
cookery classes. In some cases, they are also willing
to come to the individual's places and serve food or
supplying essentials through the hyper-local model.
Wow Momos, a chain of restaurants serving different
PIVOTING
- CMA Bhogavalli Mallikarjuna Gupta Chief Taxologist – Logo Infosoft Business Technology Pvt Ltd
HYDERABAD CIRCUIT - JULY, 2O20
Page 19
types of momos, has started selling essential items
like atta, oil, sugar, etc., through the Hyper-Local
model. In his process, they are staying afloat by
offloading their inventory and generating cash to
maintain the day to day expenses.
Another example is many companies like Savlon or
Medikeror Dabur and many more companies
launching hand sanitizers or apparel manufacturing
companies manufacturing Personal Protection
Equipment. Alok Industries, brought by Reliance
Industries a few months back, has started
manufacturing PPE Kits and made could make a
decent profit due to the shortage of the same during
the initial days of the lockdown. India, at the time of
lockdown, had to import the PPE kits and Surgical
masks due to shortage, but now we have a huge
manufacturing base, and we are in a position to
export the same. Another example of pivoting is
Eventina, an event management organization
based out of Hyderabad that has pivoted and
entered into the manufacturing of UV boxes as the
pandemic has made them out of business.
We have seen what is Pivoting and now let's
understand what is not t considered to be pivoting
a) Change in the features of the existing product
b) Trying to sell in a different geographic location or
selling to a new set of customers
c) Change in the process of delivery like
introducing mobile applications in place of
websites or vice versa
d) Change in the marketing strategy, shifting from
advertisement-based marketing to offering free
products or services
e) Change in technology to build a reliable product
From the above, it is clear what is pivoting and when
we should go for pivoting. As a practicing Cost
Accountant, the new services to be rolled out is
Management Consulting and the while doing the
strategy formation for the company the following
aspects are to be considered
1. When to Do It?
2. What is Market Potential?
3. Does it provide Opportunity for Growth?
4. What is the Fund Requirement?
5. What is Rollout Strategy?
Now let's discuss the above points at a high level, this
will give an idea on who to work on the strategy portion
of the audit, the new component.
When To Do It?
Any business will flourish only when there is a
demand, and the market will disappear when the need
diminishes or when there is no demand. Timing
determines the success of any business along with
the other business. When suggesting pivoting for the
client also indicates when the new line of business
should be started. In today's world of COVID, there will
be a requirement from every home for hand sanitizers
or usage of automation or robotics in the business
operations as there is a shortage of labor or skilled
workers in many of the segments. Many companies
want to jump in the bandwagon of manufacturing the
hand sanitizers, this could have been done if started in
the early days of lockdown, but the same should not
be recommended now as there are multiple players.
Even if you recommend or suggest the strategy
should be different, like people are moving away from
the metros or urban centers to the rural areas, the
demand is picking up in those areas. The strategy for
urban and rural areas have to be different as the
people in the rural areas cannot afford to spend in one
go Rs 100 on a hand sanitizer bottler rather they would
afford if the same is priced in a very economically like
shampoo sachets, like Cavinkare's 2ml sanitizer
sachets.
What is Market Potential?
The market demand should be assessed at a high
level, and also it should mention if there are any
existing players in the proposed segment. It should
also discuss the potential market share that could be
HYDERABAD CIRCUIT - JULY, 2O20
Page 20
captured over a period of time, along with the time
span required.
If possible, the report should also discuss the new
entrants in the space and how deep their pockets are.
The entrepreneur will always take a risk if there is
market potential and profitability.
Does it Provide Opportunity for Growth?
The most important aspect of the strategy is to
consider the opportunity for future growth. If the idea
does not find any room for growth over a period of
time, it is not a viable idea as the market will be
saturated with the entry of new players. It becomes
even more competitive. They may not be even able to
recover the costs, or the business will not be
sustainable for over a period of time. There should not
exist barriers in such cases; this will help in making a
calibrated risk and take the business decision
accordingly. The new line being proposed is for a long
term or short term, if there is clarity on this, then
decisions can be taken at a swift pace and
implemented.
What is the Funding Requirement?
The pivoting idea proposed will also have a
requirement for some funds. Already the
organizations are running short of funds, and if they
are asked to invest more funds into the new business,
it will not be appreciated by the client. The idea being
proposed should not be capital intensive. There are a
lot of funding opportunities for new business
requirements, especially in COVID related products.
For this, SIDBI has also allocated funds separately
with a lower rate of interest and moratorium. If there
are any special funding schemes provided by various
banks and the Government, the same should be
given as part of the report. This will help the client to
take the decision effectively and in a timely manner.
The available information can be used to assess his
risk appetite and take it forward.
What is Rollout Strategy?
The take of any product or services based on pivoting
will be successful only when there is a proper rollout
strategy. The rollout strategy should cover areas like
what is the time required for the launch of the product
or services, what is the geographic market to be
targeted, what is the go-to-market strategy, who are
the target audience, etc., Without this information, it
will be a challenge for anyone to take a decision in a
holistic approach. The rollout strategy should be
given at a high level in the initial report, and when the
final report is submitted, the same can be provided in
detail. The rollout strategy should also consider the
impact of the local lockdowns.
We as Cost and Management Accountants have an
edge as we can understand the business process
easily and also assess the external dynamics in a
better manner. To assess the risk, we can do a
SWOT Analysis along with PESTLE (Political,
Economic, Social, Technological, Legal, and
Environmental Risk in detail for the strategy being
suggested or being implemented. Once we are clear
with the Pivoting and consider the SWOT and
PESTLE, then the strategy is being addressed in all
possible scenarios. Technology has to be given
utmost importance as it will help in meeting the New
Normal, cloud-based solutions for CRM or delivery
of the goods or billing or online payment solution
integrated with accounting or ERP should be
considered or in manufacturing automation or usage
of robotics to be considered as the labor have
migrated to the home towns. We are facing a
shortage of the same in the market. The industry is
also looking out for new business models, and we as
Cost and Management Accountants can fill the
market requirements and establish ourselves as
Management Accountants.
Disclaimer
Any views or opinions represented above are
personal and belong solely to the author and do not
represent those of people, institutions or
organizations that the author may or may not be
associated with in professional or personal capacity
unless explicitly stated. Any views or opinions are not
intended to malign any religion, ethnic group, club,
organization, company, or individual.
HYDERABAD CIRCUIT - JULY, 2O20
Page 21
The coronavirus (COVID-19) pandemic has upended
our daily routines, impacted our personal and
professional lives, and brought on a global economic
downturn. The response of governments worldwide
has varied, but many have closed down schools and
nonessential businesses, established curfews, and
banned gatherings of more than a handful of people in
an attempt to slow the spread of the highly contagious
virus.
This has disrupted many companies’ operations and
decimated entire industries such as travel, hospitality,
and events. In challenging times like these,
management accountants and finance professionals
need to demonstrate leadership and cool-under-
pressure decision making. Their positive influence
can be felt across the organization, from strategic,
contingency, and business continuity planning to
disaster response and crisis management.
Almost everyone is discombobulated and seeking
guidance during this period of quarantine and social
distancing, and finance is in a unique position to help
the organization by keeping morale high, overcoming
fear and anxiety, and getting the information that each
individual needs, according to Jennifer Elder, a
strategic consultant and coauthor of the book Faster
Disaster Recovery.
When you’re in crisis mode, the C-suite has to exhibit
grace under pressure and the CFO in particular needs
to understand the worst-case scenario of the
pandemic and its impact, gauge the company’s
liabilities, and start planning an appropriate response.
“Be like a duck: calm on the surface but paddling like
hell underneath,” Elder said. “The attitude of the CFO
needs to be positivity. Finance can really help with
providing more data to the various departments—they
could really add value if they reach out to the
departments and ask, ‘What do you need right now?’
We assume we’re sending the information that people
need, but that’s not always the case—they might be
needing different types of info right now, so show your
value by asking, ‘How can I help you to make
decisions?’”
While the ultimate impacts on business operations
and the balance sheet are still to be determined,
CFOs are meeting these challenges head-on. Some
CFOs suggest that companies may want to create a
virtual command center with a core response team,
that is, a cross-departmental steering committee
that includes management accountants reporting to
the CEO and CFO to coordinate the organization’s
assessment, strategy, response, and execution.
“Selecting the members of the crisis management
team is a key part of the process,” said Gary
Mahoney, CFO of Miniter Group. “You need people
with the technical skills to handle many different
functions, but you also need people with the right
demeanor. You want to set a tone of quiet confidence
for your team, so trading off technical skills for EI
[emotional intelligence] can be very beneficial for
your crisis management team.”
IMPLICATIONS OF WORKING REMOTELY
The most immediate impact of COVID-19 has been
the closing of most schools and offices, forcing many
to work from home, including working parents who
are now responsible for homeschooling their
children during the same hours.
From a human resources perspective, with
everybody working remotely, how do you maintain
professional relationships? How do you maintain
finance personnel’s engagement and productivity?
“In the workplace, if you’re worried about something,
you can chat with somebody and other colleagues
can pick up on that conversation—how do people
working from home get to have that type of
conversation?” Elder said. “Some companies [are]
gearing up virtual meetings or chat rooms, where
employees can just vent—communication is going
to be very important during this crisis.”
HYDERABAD CIRCUIT - JULY, 2O20
Page 22
CFOs must also coordinate with their organization’s
chief technology officer or head of IT. While many
companies have updated IT infrastructure that’s cloud-
based and digitized, others still have legacy systems
and manual processes that make it more challenging to
do everything remotely.
Mahoney said the biggest challenge for his company
has been handling the physical invoices and checks it
still receives. Miniter Group has made a lot of progress
in moving toward being a paperless organization, but
there are still some vendors who issue paper invoices
and checks. Every other finance function can be
performed remotely, which in terms of the
pandemic eliminates the biggest immediate
threat to employees—physical contact with
others.
“The fact that someone still needs to collect mail
is a sticking point,” Mahoney said. “All other
finance functions can be performed remotely with
no decrease in productivity or functionality. I’m
choosing to see future impacts in a glass-half-full
view. I think we can see the effectiveness of WFH
[work-from-home] and gain confidence that it’s a
policy that can be utilized more in the future.”
CFOS RESPOND TO THE COVID-19 PANDEMICSource: Strategic Finance Magazine
complied by CMA Anand Satchit Jammalamadaka
HYDERABAD CIRCUIT - JULY, 2O20
Page 23
The universal work-from-home policy, which should last
at least until the growth curve of the pandemic flattens,
is a good test for every company’s policies and
procedures. Some may need to be updated to improve
workflow, and the CFO can play a role in that
improvement.
“For a long time, I’ve preached the need to have
workflow procedures documented so that a person off
the street could come in and, while not matching current
efficiency, perform all finance functions in a pinch if the
subject-matter expert is not available,” Mahoney said.
“This will be a good test of our documentation and will
show us where we need to shore up in the future.
“Throughout my career, one of the first things I try to do
in an organization is evaluate the documentation of
procedures,” he said. “It’s a piece of the process that is
ignored more often than not because there’s no
immediate gratification to it; however, documenting
procedures is really no different than being properly
insured. You may not appreciate it until you need it, but
when you need it, you’ll really feel the impact of whether
or not you were properly covered.”
EMPLOYEE HEALTH AND WELLNESS
The health and wellness of employees must be a
company’s number-one priority. The World Health
Organization has estimated that the death rate of
people who contract COVID-19 is 4%, although many
who have been exposed to it haven’t been tested and
many more people may have it but have only
experienced mild symptoms. Even healthy employees
may be suffering from fear, anxiety, and concern for
their own health as well as that of relatives and friends.
The situations for those still employed range across a
wide spectrum: At one extreme, parents suddenly
responsible for their children’s schooling are desperate
for a few uninterrupted moments to work. At the other
extreme, the isolation of those who live alone, empty
nesters, and widows and widowers may lead to
loneliness, lack of motivation, and low morale.
Communication, understanding, compassion, and
flexibility are parts of the recipe for successful
management during these stressful times.
“Depending on their situation, employees who aren’t
already in the routine of working remotely may feel
isolation and loneliness and may have a tough time
structuring their day to be efficient,” said David Blanke,
CFO of Stella Connect. “It’s important to get in front of
the company via Slack and other formal or informal
Zoom meetings to assure the company there is a plan
and we will be resilient as a company and emerge in a
strong position when it’s over.”
Vincent Tophoff, general manager and CFO of a
midsized production company, said to think first about
ensuring the health and well-being of staff who operate
the machines and work in the supply chain, as well as all
others. “As prevention is typically more effective—and
cost-effective—than fixing bad outcomes, the finance
function should adopt a proactive approach in this
area,” he said.
DATA MONITORING, ASSIMILATION, AND
ANALYTICS
Regardless of whether your company has a dedicated
data analytics and research department, step forward
to offer your expertise in integrating various sources of
data, leadership’s assumptions and strategies, and
other variables to create a holistic planning model. The
ideal model provides worst-case, baseline, and best-
case scenarios, analyzing the potential impacts on
cash flow and expenses as well as how each
department’s performance will be measured and
reported during the pandemic.
“All business functions should monitor the
developments and data in their area of expertise that
are relevant to the organization and assess the
consequences,” Tophoff said. “The finance function
typically brings this together and tries to assess the
overall financial impact of those developments. As
‘spiders in the financial information web,’ the finance
function is uniquely positioned to connect the various
functions with each other and oversee the whole
business process.”
Page 24
complied by CMA Anand Satchit Jammalamadaka
HYDERABAD CIRCUIT - JULY, 2O20
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Page 25
COMPLIANCE CALENDARJULY, 2020
Compliance Due Date
Concerned (Reporting) Period
Compliance Detail Applicable To
7th July, 2020
10th July, 2020
15th
July, 2020
15th
July, 2020
30th
July, 2020
31st
July, 2020
31st
July, 2020
31st
July, 2020
June, 2020
June, 2020
May, 2020
April to June, 2020
June, 2020
April to June, 2020
F.Y. 2019-20
April to June, 2020
Deposit of Tax Deducted
File GSTR 1
Issue of TDS certificate u/s 194IA and 194IB
Quarterly statement of TCS Deposited
Challan-cum-statement for TDS u/s 194IA and 194IB
Quarterly statement of TDS deposited
Income Tax Return Filing
File GSTR 1
Non-government deductors
Taxpayers with
more than INR 1.5 Cr
All deductors
TCS collectors
All deductors
All deductors
All taxpayers other than companies or those not liable for a tax audit
Taxpayers with Annual Turnover up to INR 1.5 Cr
Annual Turnover
HYDERABAD CIRCUIT - JULY, 2O20
Page 26
CURRENT MANAGEMENT COMMITTEE
MEETING PAST PRESIDENT - ICAI & PAST CHAIRMEN - HCCA
CMA Dr. A.S. Durga Prasad CMA Dr. K.Ch.A.V.S.N. Murthy
CMA Ch. Venkateswarlu CMA D.L.S. Sreshti CMA M.Kameswara Rao CMA G. Narayan Rao
CMA B.L.Kumar CMA Vijay Kiran Agastya CMA D. Suryaprakasham CMA Dr. Chandra Sekhar Rajanala CMA D. Munisekhar
CMA PAP Murthy CMA J.S. Anand CMA Dr. P.V.S. Jagan Mohan Rao
CMA A.S. Nageswara Rao
CMA Lavanya KanduriCMA M. Venkateshwarlu CMA Khaja Jalal Uddin CMA Hima Vidya S. CMA KVN Lavanya
CMA Sirisha C CMA Kalyani P CMA P. Chandra Sekhara Reddy CMA K. Someswara Babu
HYDERABAD CIRCUIT - JULY, 2O20
ANNUAL GENERAL MEETING
CMA TCA Srinivasa Prasad during the programme 'Management Information systems and Report'
Page 27
Editor: CMA Lavanya Kanduri, The Institute of Cost Accountants of India
AUGUGST, 2020
Compliance Due Date
Concerned (Reporting) Period
Compliance Detail Applicable To