"August, 2017" Archive

Conversion of Company into LLP

LLP is a unique form of legally recognized corporate entity, which integrates the features of both the limited corporations and the traditional partnership firms. As it is a unique Hybrid Combination of both Company and Partnership, this LLP is especially suitable for small to medium-sized business enterprises and professionals particular...

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Posted Under: Company Law |

Procedure for Increase in Authorised Share Capital

Check the articles of Association of the Company to see whether necessary authority/ powers is there to increase the authorized share capital of the Company. Issue the Board Meeting notice and convene the Board Meeting to decide about the increase and to fix up to date, time, place and agenda for convening a General Meeting for passing of...

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Posted Under: Company Law |

Non Compliance with GST regulations could lead to increase in Borrowing Cost

First of All, to understand how Non Compliance with GST (Goods & Service Tax) rules and regulations can lead to increase in borrowing cost for any entity, we have to understand few basic concepts of GST, GST Compliance Rating, External Credit rating and Bank Credit Analysis....

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Posted Under: Company Law |

Checklist to buy Health Insurance; Selection of Insurance Company and Tax Benefits

So, this is It? Checklist to Choose your Best Health Insurance Policy:- 1. Hospital Room Rent Eligibility, 2. Co Payment and Sub Limits for diseases (if any), 3. Waiting Period for Pre Existing Disease, 4. Waiting period for few specific diseases like Cataract, Hernia etc, 5. Cover Amount and Premium charged as compared to other players w...

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Posted Under: Company Law |

GST registration cancellation procedure

Through GST migration process, all the taxpayers registered under existing laws have been automatically migrated to GST regime. But the exemption threshold limit for registration under GST has been increased to Rs. 20 Lakhs. Such persons below taxable limit apply for cancellation of registration or may be cancelled by proper officer on hi...

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Posted Under: Company Law |

Major Amendment in Secretarial Standard 1- Meeting of Board of Directors

Revised Secretarial Standard shall be effective w.e.f. 1st October, 2017. There are some alterations made in the revised SS-1 in comparison to former SS-1.This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto....

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Posted Under: Company Law |

Step By Step Guidelines For Filing GST Return TRAN-1

A major concern for businessmen registered under GST is to avail Tax Benefit & Input Credit of Old Regime. In order to avail such benefit, a registered person is required to file TRAN - 1 Within 90 days (28th Sep 2017 )of the appointed day, that is 01 July 2017....

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Posted Under: Company Law |

GST Impact on Flour Mills

Manufacturing Industry is one of the most important pillar of an economy. In this era of GST almost every industry has been affected some favorably and the others Adversely. While talking about Food Processing industry it can be clearly seen that in some cases GST has adversely affected it. For example...

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Posted Under: Company Law |

E-way Bill Rules under GST- Brief Analysis

The CBEC on 30th August 2017 by way of notification CGST 27/2017 notified the E-way Bill and the procedure related to generation and verification. The highlights of the notification are enlisted below:...

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Posted Under: Company Law |

Delivery Challan under GST

In some cases where the sale of goods or services does not happen immediately or when payment is not received on supply, delivery challan is issued by the supplier. In this article, we look at the procedure for issuing delivery challan and delivery challan format in detail....

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Posted Under: Company Law |
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