In this Article Hon’ble Finance minister Shri. Arun Jaitley analysed the rationale behind the Demonetisation decision and its impact.
The need for uniform reporting of financial statements of business entities is an off shoot of globalization. India, being an important player, in the evolving world economy, needs to respond to international trends. With several businesses operating across borders and reaching international capital markets, there is a need for establishing globally recognised standards and uniformity in reporting and analysis of information.
Launched by Hon. PM Shri. Narendra Modi ji, on 10th Nov 2014, Digital Life Certificate for Pensioners Scheme of the Government of India, known as the Jeevan Pramaan
Narcotic Drugs and Psychotropic Substances have several medical and scientific uses. However, they can be and are also abused and trafficked. Indias approach towards Narcotic Drugs and Psychotropic Substances is enshrined in Article 47 of the Constitution of India
The Central Board of Direct Taxes vide notification No.2/2017 dated 6th January,2017 has once again amended Rule 114E (reporting in AIR ) casting reporting obligations on the banks and post offices for reporting of cash deposits in the bank accounts and post office accounts prior to the demontisation period.
As an endeavour to see early light of GST, CBEC, has created a separate tab, titled: MIGRATION TO GST, on the CBEC website: www.cbec.gov.in. The roll out of GST is scheduled from April 1, 2017. The taxes of Central Excise and Service Tax would be subsumed in the GST.
The chapter states the provision relating to the audit to be undertaken by the GST authorities. It prescribes the rights and obligation of the GST authorities in the event of conducting an audit.
When a person holds one or more shares jointly with one or more person(s) in a Company, he/she is called Joint shareholder. Since a Joint Shareholder is different person, but in relation to private limited companies, joint shareholders are considered as a member.
A Company is governed by its Board of Directors and the Board of Directors are consist of Directors, who are human beings. Section 149 of the Companies Act, 2013 provides that every company registered under the Act, must have a Board of Directors consisting as individuals as directors.
All existing Central Excise and Service Tax assessees will be migrated to GST starting 7th January 2017. To migrate to GST, assessees would be provided a Provisional ID and Password by CBEC.
