9 Provisions of Finance Act, 2020 will be enforced from 1 Jan, 2021: CBIC [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) notified 9 Provisions of Finance Act, 2020 will be enforced from 1 January 2021.
1. The Central Government appointed 1 January, 2021, as the date on which the provisions of sections 119, 120, 121, 122, 123, 124, 126, 127 and 131 of the Finance Act, 2020 shall come into force.
2. Section 119 sought to insert the words “or services” after the words “of goods” in section 10 of the Central Goods and Services Tax Act. Section 120 omitted the words “invoice relating to such” from the section 16(4) of the Central Goods and Services Tax Act.
3. Section 121 stated that the taxable person is no longer liable to be registered under section 22 or section 24 or intends to opt out of the registration voluntarily made under sub-section (3) of section 25.
4. Section 122 seeks to amend section 30 of the Central Goods and Services Tax Act, wherein a proviso was substituted which says, “Provided that such period may, on sufficient cause being shown, and for reasons to be recorded in writing, be extended, by the Additional Commissioner or the Joint Commissioner, as the case may be, for a period not exceeding thirty days; by the Commissioner, for a further period not exceeding thirty days, beyond the period specified in clause (a).
5. Section 123 seeks to amend the provision of Section 31 of the CGST Act which relates to time of supply of goods.
6. Section 124 seeks to amend Section 51 of the CGST Act which relates to the provisions of TDS.
7. Section 126 seeks to amend section 122 of the Central Goods and Services Tax Act which relates to the offences and penalties.
8. Section 127 seeks to amend section 132 of the Central Goods and Services Tax Act which relates to the power of the GST authorities to arrest the taxpayers.
9. Section 131 states that In Schedule II to the Central Goods and Services Tax Act, in paragraph 4,the words to Schedule II “whether or not for a consideration,” at both the places where they occur, shall be omitted and shall be deemed to have been omitted with effect from the 1 July, 2017.
REFRESHER COURSE OF 50 HRS EDUCATIONAL COURSE UNDER RULE 5(1)
REFRESHER COURSE OF 50 HRS EDUCATIONAL COURSE UNDER RULE 5(1)READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO
REFRESHER COURSE OF 50 HRS EDUCATIONAL COURSE UNDER RULE 5(1)ALL INDIA ONLINE as per revised IBBI syllabus is proposed during:-
2021 under the banner of most trusted, economical, transparent & members friendly RVO… CEV IAF RVO
Land n Buildings
Plant n Machinery
Securities or Financial Assets
Fee package includes:-
1. 50 Hrs Educational Course fees
2. Study material Hard copies of copyright book by registered parcel
3. Study material soft copy of all subjects
4. MCQs bank and live support.
5. Specialized personalized help till EXAMINATION and afterwards
6. Subsidized concessional cost REFRESHER COURSE facilities for CEV IAF CANDIDATES to attend next physical batches any time and anywhere in INDIA.
8 HOURS CEP PROGRAM BY CEV IAF RVO (6 CREDIT POINTS)
For CEP – 8 Hours – Exclusive for Valuers Valuation Essentials Topics To Be Covered… 1. PRECAUTINS DURING SITE VISIT 2. PRECAUTIONS IN REPORT WRITING 3. VALUATION UNDER IBC. 4. INTERNATIONAL VALUATION STANDARDS
SPECIALISED EXPERT FACULTY FOR THE SESSION:-
ER SANJAY PATEL
Bachelor of Engineering (Instrumentation & Control), May 2003, Gujarat University Diploma in Instrumentation & Control, June 2000, Technical Education Board, Gujarat Gujarat Higher Secondary Education Board, March 1997.
Having experience of 15 years in field of Valuation of Tangible Assets. Sectors includes Petrochemical, Pharmaceutical, Steel, Cement, Power, Textile, Engineering, Logistics, etc.
CA ANKIT GOEL
B. COM(H), LLB, FCA, DISA (ICAI), RV (SFA), ID (IICA).
With experience of more than 9 years in valuation, he has managed valuation of assets having a book value of more than 25000 crores. He is an active speaker on valuation, Insolvency, Forensic audit and other subjects at many RVOs and at events organized by other Professional organizations & industry associations.., etc.
DR RAJWINDER SINGH
PhD in STRUCTURAL ENGINEERING, M TECH. (STRUCTURAL ENGINEERING), DIPLOMA IN RAIL TRANSPORTATION & MANAGEMENT, MASTER OF VALUATION, SIX MONTHS COURSE IN VALUATION OF REAL ESTATE.
Having experience of 24 years of Experience in Technical Field, Teaching Faculty & HOD in Engineering College, Valuation of Immovable Properties, etc.
NO FEE PAYABLE TO CEV IAF RETAINERSHIP MEMBERS WHO FAILED TO ATTEND 16 HOURS OF CEP IN MAY-JUNE-JULY-2020 SESSIONS
OTHER FORTHCOMING CEP PROGRAMES
2 HOURS EACH ON THE TOPICS AND ON THE DATES ANNOUNCED BY THE ORGANISATION CEV IAF RVO
Proposed Topics for CEP OF 2 HOURS EACH.
1. Non Standard Valuations not given in any book.
2. Valuations for TDR generated from Lands reserved in Development Plan.
3. Valuation of a project for cost of construction for Income Tax Department.
4. Valuation for the purpose of redevelopment of existing building with extra FSI.
5. Valuations for Agricultural land that can be converted to Non agricultural use
6. Valuations against Stamp Duty ready recknor for lands sold under distress sale.
7. Valuations for Banks under clause on Indemnity Bond.
8. Valuation for bid to be given in Auction process.
9. Court preparations to justify your report.
10. Defending yourself in case of raid on your office for Valuations.
11. Use of Internet for Valuations.
12. Challenges in Valuation of properties in India.
13. Valuation of properties occupied by slums.
14. Valuations to asses present cost of Construction to change contractor.
15. Valuation of leasehold property to surrender balance lease period to the owner.
16. Valuations of tenanted properties to be handed over to Owner and for Capital Gains of same.
17. Percentages for deduction for different factors not in favor of the property.
18. Different factors affecting Valuations in various parts of India due to changes in local rules.
19. Valuation of properties in CRZ zones for sale
20. How to justify your Valuation Report and defend in case challenge by Banks.
21. Different sources available in India to get property rates .
22. Common mistakes/ checklist for valuation reports
23. Income approach for L&B & Plant & machinery & valuation of going concern
24. DCF Valuation – practical approach.
FEE FOR TWO CREDIT HOURS RS-500/-
NO FEE PAYBLE TO CEV IAF RETAINERSHIP MEMBERS WHO FAILED TO ATTEND 16 HOURS OF CEP IN MAY-JUNE-JULY-2020 SESSIONS
Fee package includes:-
1. One time Enrolment fee for RVOs membership
2. Lifetime PRIMARY membership & 50 Hrs Educational Course fees
3. Study material Hard copies of copyright book by registered parcel
4. Study material soft copy of all subjects
5. MCQs bank and live support.
6. Specialized personalized help till EXAMINATION and afterwards
7. Subsidized concessional cost REFRESHER COURSE facilities for CEV IAF CANDIDATES to attend next physical batches any time and anywhere in INDIA.