In three years the Narendra Modi government has secured India’s position as the spring board of world economic growth. India is growing at 7.9 per cent when the world is growing at 3.1 per cent. The stock market is booming. India is for the first time surplus in power and coal production.
To keep a watch on high-value transactions by taxpayers, the I-T department has developed a statement of financial transactions called Annual Information Return (AIR).
Companies which are raising funds from angel investors or through venture capital funds are in dilemma which instrument is required to be issued against the investment. The decision is taken by the investors in general to which instrument they should get against their investment.
Cement: Packaged cement attracts central excise duty of 12.5% + Rs.125 PMT and standard VAT rate of 14.5%. At these rates, the present total tax incidence works out to more than 29%. If we include tax incidence on account of CST, octroi, entry tax, etc., the present total tax incidence would work out to more than 31%. As against this, the proposed GST rate for cement is 28%.
Taxes on entertainments and amusements (covered by the erstwhile entry 62 of State List of the Constitution) have been subsumed under GST except to the extent of taxes on entertainments and amusements levied by a Panchayat or a Municipality.
Cancellation of registration of animal market.If the District Animal Market Monitoring Committee, suo moto or on receipt of a complaint, comes to the conclusion that an animal market is functioning in contravention of these rules, it may direct the cancellation of registration of such market after giving reasonable opportunity of being heard.
When an animal has been seized under the provision of the Act or the rules made thereunder— (a) the authority seizing the animal shall ensure health inspection, identification and marking such animal, through the jurisdictional veterinary officer deployed at Government Veterinary Hospital of the area and marking may be done by ear tagging or by chipping or by any less irksome advance technology but marking by hot branding, cold branding and other injurious marking shall be prohibited;
GST is going to be reality with effect from 1st July, 2017 as per the statements issued by Government of India on day to day basis. First and foremost document that is required to be generated after implementation of GST is Invoice because supply cannot be stopped as it may involve additional cost by way of late delivery charges.
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) requires that while raising funds from the public, the company has to mention the object for raising the fund.
The Companies Act,1956 had provisions regarding the consolidation and reissuance of debt securities under section 121.This section gave the company power to keep the same security alive for the purpose of re-issue after it’s been redeemed.
