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MCA EYES ON TRANSACTIONS OTHER THAN DEPOSITS - E FORM DPT 3
BY:- CS ISHA KAPOOR
After the stride of Companies Act, 2013 there has been a consecutive amendments in the Act where MCA through its notifications strive for improvement, long-term approach to improve processes and services. In contrast to change management, continuous improvement occurs gradually and aims to make small incremental changes over time in making the…
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ACTIVE COMPANIES TAGGING IDENTITIES & VERIFICATION E FORM INC 22A- NEW ERA FOR DETECTING SHELL COMPANIES
BY- CS ISHA KAPOOR
The government recently present itself with the new era of quash down the shady or dummy entities by release of new e-form INC 22A which is also known as e-Form ACTIVE (Active Company Tagging Identities and Verification). MCA has introduced the Companies (Incorporation) Amendment Rules, 2019 through notification dated 21st February, 2019. This is the continuance…
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SIMPLIFICATION OF THE TERM JUDGEMENT, DECREE AND ORDER!! ARE THESE SAME?
BY:- CS ISHA KAPOOR
Law is a methodology of rules that are created and enforced through social and governmental institutions in order to treat the crimes or other matters that further regulates and ensures that individual or a community practice to the will of the State. Law is divided into two groups:- (i) substantive law which determines rights and liabilities of parties; and (ii)…
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IS EVERY DOCUMENT NEED TO BE REGISTERED??DOCUMENTS WHOSE REGISTRATION IS COMPULSORY !!
BY- CS ISHA KAPOOR
The Registration Act, 1908 cover provisions related to registration of documents and not of a transaction. As per the statutory requirement documents need to be registered which thereby ensures proper preservation of records and confer power to adopt with an evidence of any transaction affecting any such property.
Basically registrable documents…
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PRE-EXAMINATION TEST GUIDELINES FOR CS EXECUTIVE STUDENTS (NEW SYLLABUS)
PRE-EXAMINATION TEST GUIDELINES FOR CS EXECUTIVE STUDENTS (NEW SYLLABUS)
BY- CS ISHA KAPOOR
The ICSI instigate the New Syllabus (2017) for Executive Programme of CS Course. As per the notification for the new syllabus, a compulsory Pre- Examination Test has been introduced as a pre-requisite for seeking enrollment in CS Examination. Students has to take this test before…
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RECENT UPDATE: FAQ ON E-FORM DIR-3 KYC
RECENT UPDATE: FAQ ON E-FORM DIR-3 KYC
With the continuous amendments in the company law rules and provisions, there has been an advance change by the Central Government to verify the identity of the directors of the company and accessing the prospective risk of illegitimate intentions which helps to overcome dummy directorships with lots of non- compliances intentionally…
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VALUE CREATION FOR BUILDING BRAND CS- COMPANY SECRETARY
The central concern of building brand CS experienced a dramatic shift in the last decade. The challenge today is to create a strong & distinctive image. Shift in focus towards Brand CS began when it was understood that they are something more than mere identifiers. The world of Brand CS is the world without boundaries. A world that is growing, changing and challenging everyday. The…
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10 TIPS FOR YOUNG EARNERS TO MANAGE PERSONAL FINANCES
10 tips for young earners to manage personal finances
Apart from every subject, personal finances is the subject which is not thought and is ignored in our academics or college time, so unfortunately how to manage money in real life becomes complex when young earners comes out of their fool’s paradise and confront the real life. So one has to ground plan their finances to…
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INDIA SEES 20% RISE IN $ MILLIONAIRES, DESPITE GST IMPACT
Despite adverse impact on GST implementation, India saw a 20 per cent increase in both the number of dollar millionaires and their wealth in 2017 to emerge as the fastest growing market for high net population, a report said today.
The report, which comes amid growing concerns over social ramifications of asymmetry in wealth distribution, said the number of…
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JOB CREATION : DEMONETISATION,GST LED TO LAYOFFS BUT THERE'S A GOOD NEWS TOO !!
Critics point to household surveys that show jobs being shed in the past year, after the government shocked the economy by suddenly withdrawing most cash from circulation and then introducing a complex goods-and-services tax.
In recent months, a sharp debate has broken out over whether India is or isn’t creating new jobs. Supporters of the government…
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COACHING CENTRES FOR ENTRANCE EXAMS LIABLE TO 18% GST : AAR
Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 per cent GST, according to the Authority for Advance Rulings (AAR).
An application was filed before the Maharashtra bench of the AAR to seek advance ruling on whether the services related to providing the coaching for entrance examination will come…
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HOW PM MODI'S GST ROLLOUT BROUGHT BABA RAMDEV'S PATANJALI TO A GRINDING HALT
Just an year ago, Baba Ramdev was sanguine about the growth prospects of Patanjali Ayurved Ltd. The confident yoga guru-turned-entrepreneur had said that Patanjali would double its turnover within a year. And, to be fair, it didn't seem a far-fetched target at that time. The company, after posting a record sales of Rs 10,561 crore in FY17, was aiming to grow two-fold…
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E-WAY BILL APPLICABLE FOR INTRA-UT MOVEMENT OF GOODS IN 3 UT's FROM MAY 25,2018
The Central Government
vide Notification Nos. 7/2018, 8/2018 & 9/2018-Union Territory Tax, all dated May 18, 2018 has rescinded Notification Nos. 3/2018, 4/2018 & 5/2018-Union Territory Tax, all dated March 31, 2018 to give effect to the applicability of E-way bill for intra-UT movement of goods in the Union Territories of…
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GST BLOW FOR ENTITIES SERVICING FOREIGN CLIENTS IN INDIA?
It is common practice for foreign entities to engage service providers in India at the time of market entry for a host of services that could range from market research, advertising and promotion services, liaising with prospective customers etc. While such services were treated as exports and not subjected to service tax under the earlier service tax regime, these…
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GST, Demonitisation brought 1.8 million more people into I-T net
Apart from encouraging digital over cash transactions, implementation of the GST regime has led to a 50% increase in the number of indirect taxpayers, says External Affairs Ministry official.
India has informed the United Nations (UN) that the Goods and Services Tax (GST) reform implemented by it, coupled with the demonetisation of high-value…
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CASHBACK AND DISCOUNT : Modi Govt'smega plan to boost digital transactions
The government is working on a proposal to incentivise digital transactions by providing cashbacks to businesses and price benefits to consumers, a source said.
As per the proposal being worked out by the Revenue Department, consumers paying through the digital mode would be offered a discount over the maximum retail price (MRP). The…
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INDIA'S FOREX RESERVES AT RECORD HIGH OF $424.864 BILLION:RBI
According to the Reserve Bank of India (RBI), India’s forex (foreign exchange) reserves have touched record high of $424.864 billion in April 2018. The surge was due to massive spike in foreign currency assets (FCAs), a key component of the reserves. The forex reserve had crossed $400-billion mark for the first time in September 2017, but has since been fluctuating.
Forex Reserves
The…
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GST ISSUES BEING ADDRESSED: RITA TEAOTIA
All issues being faced by exporters with regard to the Goods and Services Tax (GST) are being addressed, Rita Teaotia, Secretary, Department of Commerce, said.
Speaking to newspersons on the sidelines of a meeting with members of the Federation of Indian Export Organisations (FIEO) here on Friday, Teaotia said the issues pertaining to GST had dominated…
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SC JUDGESC SPLIT OVER CLASSIFICATION OF" COCONUT OIL" SACHETS USED AS "HAIR OIL"
SC delivers split verdict on classification of ‘Coconut Oil’ packed in small sachets / containers, as “Coconut Oil” under Chapter Heading 1513 or as “Hair Oil” under Chapter Heading 3305 of Central Excise Tariff Act; Justice Gogoi holds that product is clearly covered by Chapter Heading 1513, while observing that ‘Coconut Oil’ packed in small packages / containers does not cease…
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COMPLAINTS ABOUT GST REFUNDS NOT ACCURATE!!
The complaints of garment exporters here about cash crunch they are facing because of delays in refund of Goods and Services Tax (GST) seem to be distorted.
A check carried out by The Hindu with the authorities has revealed that only around 300 of the nearly 1,350 garment exporters who had opted for LoU (Letter of Undertaking) route…
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GST EVASION OF RS.509 CR IN MUMBAI, OVER RS 380 CR SEIZED
The Mumbai Central Goods and Service Tax (CGST) has detected tax evasion amounting to Rs 509 crore and have recovered Rs 381.57 crore from non-filers of tax since the implementation of CGST in the country.
Taking up an anti-tax evasion stand, the Mumbai CGST zone has so far identified over 47 thousand entities…
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FIX GST RATE AT 5% AND RATIONALISE STAMP DUTY, LAND RATES FOR AFFORDABLE HOUSING:PHD CHAMBER
PHD Chamber of Commerce and Industry urged the GST Council to consider further reduction of GST at a slab of 5% from prevailing 8% for affordable housing, arguing that conformant of infrastructure status on affordable housing would only serve the intended cause.
With GST slab staying onto 8% for affordable housing would partly defeat the efforts…
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