I would request all zones to ensure a step up of outreach programmes on GST in close coordination with the State officers, continued stress on updating of officers and staff with changes in rules and continued familiarity with the GST laws.
Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less;
Important Clarification on Amendment to Paragraph 17 of Revised Guidance Note on Audit of Consolidated Financial Statements issued by ICAI
Portfolio management scheme popularly known as PMS are specialized investment vehicle for lump sum investments. The portfolio manager invests the money in shares and other securities and manages the portfolio on behalf of the client.
As per Companies law, only listed companies are required to have a company secretary. The duties which are to be performed by a company secretary are mentioned in an “Employment contract”.
Government is trying hard to implement GST with effect from 1st of July 2017, so the time has come to pull up your socks and keep yourselves ready to handle this transitional phase of the biggest tax reform in India. For the smooth transition from the existing structure of Indirect taxes into the new GST regime, both businessmen and the consultants have to give their best efforts in terms of time and knowledge.
Some of the noticeable provisions on NBFCs under GST are as under:- 1. Services provided are taxable at 18% GST Rate (Earlier 15% Service Tax). 2. Need to obtain State wise Registration where they have branches (Earlier Centralised Registration). 3. Inter-State supplies of services between branches of same entity will also attract IGST 4. 37 […]
1. The name must contain Nidhi Limited 2. Nidhi company that has to be incorporated under this Act shall be a Public Company 3. It must have a minimum paid up equity share capital of Rs.5,00,000/-;
Conditions for availing Composition Scheme- Aggregate turnover of the registered person during the preceding financial year should not exceed Rs. 50 Lakhs in a year. [Section 10(1)].
Reserve Bank of India vide its circular dated May 18, 2017 has issued detailed guidelines on branch expansion of banks. 1. Scope These guidelines are applicable to all domestic Scheduled Commercial Banks (excluding Regional Rural Banks), Small Finance Banks, Payment Banks, and Local Area Banks. These are effective from May 18, 2017. A banking outlet is defined for any of the above-mentioned banks is a fixed-point service delivery unit manned by its staff or its Business correspondents where deposits, encashment of checks or lending operations are undertaken for a minimum of 4 hours per day and for a minimum of 5 days a week. The branch has to clearly indicate its time of operation, its controlling offices telephone, address and the working hours clearly. No disruption in working hours is expected.
