"26 May 2017" Archive - Page 5

GST On Non-Banking Finance Companies (NBFCs)

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....

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Nidhi Company Requirements and Registration Process

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/-;...

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Composition Scheme under GST (Updated 18 May 2017)

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)]....

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RBI latest Guidelines on Branch expansion and outreach among underserved areas for Banks

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 ...

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