DPT-3 Mandatory Information of all Loans by Companies to ROC

DPT-3 Mandatory Information of Loan to ROC Mandatory Filing of Details of Loan with ROC in brief with some important FAQ’s in relation to DPT-3 with reference to Companies (Acceptance of Deposits) Amendment Rules, 2019 notified by MCA on 22.01.2019. By Companies (Acceptance of Deposits) Amendment Rules, 2019 : Every Company other than Government Company …

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Applicability of GST on advances received for future supplies

💥 GST Updates 💥 GST on advances received for future supplies _________________ 1) Time of supply: Time of supply is earliest of following: a) At the time of receipt or payment; or b) At the time of issue of invoice Accordingly, GST needs to be paid with reference to the time at which advance is …

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The MCA has recently release Form INC-20A for obtaining Commencement of Business Certificate.

The MCA has recently release Form INC-20A for obtaining Commencement of Business Certificate. A summary of the new procedure is provided below for ready reference. Commencement of Business Certificate The Ministry of Corporate Affairs has re-introduced the concept of commencement of business certificate. Under the newly introduced The Companies (Amendment) Ordinance 2018, all companies registered …

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Highlights of Companies (Amendment) Ordinance 2019

Highlights of Companies (Amendment) Ordinance 2019 Commencement Certificate is mandatory now to be obtain within 6 months of Incorporation without which, it can not comment its business activity or borrow money. The ROC can strike off a company if the address of Regd Office is bogus or incomplete/improper address. Conversion of public Ltd to Pvt …

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FINANCE MINISTRY TELLS NON-ITR FILERS TO SUBMIT ITR OR REPLY TO TAX QUERY WITHIN 21 DAYS – THE ECONOMIC TIMES

FINANCE MINISTRY TELLS NON-ITR FILERS TO SUBMIT ITR OR REPLY TO TAX QUERY WITHIN 21 DAYS – THE ECONOMIC TIMES Data analysis has identified several potential non-filers who have carried out high value transactions in FY2017-18 but have still not filed ITR for AY2018-19. The finance ministry has, via data analysis, identified several individuals as …

FINANCE MINISTRY TELLS NON-ITR FILERS TO SUBMIT ITR OR REPLY TO TAX QUERY WITHIN 21 DAYS – THE ECONOMIC TIMES Read More »

RBI: Notifies Regulation w.r.t borrowing and lending between Resident and Non- Resident

RBI: Notifies Regulation w.r.t borrowing and lending between Resident and Non- Resident RBI notifies Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 (‘Regulations’) in order to regulate borrowing and lending between a Person Resident in India and a Person Resident outside India, in supersession of extant Notifications in this regard; Outlines prohibition on borrowings and …

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Non-filers can submit Income Tax Returns within 21 Days: Important Points to Remember

Non-filers can submit Income Tax Returns within 21 Days: Important Points to Remember: The Central Board of Direct Taxes (CBDT) last day has informed that the non-filers can submit the income tax returns within 21 days. Non-compliance after this period would also lead to proceedings under the Income Tax Act, 1961. A statement issued by …

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SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES

SOON, NO E-WAY BILL IF GST RETURNS NOT FILED FOR 6 MONTHS – THE ECONOMIC TIMES Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods. The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns …

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GST: E-Way Bill to be integrated with FASTag from April

The Government is planning to integrate NHAI’s FASTag mechanism from April to help track movement of goods and check GST evasion. The Department of Revenue has set up a committee including officers to integrate e-way bill, FASTag and DMIC’s Logistics Data Bank (LDB) services, after consultation with transporters. It has come to our notice that …

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