"05 September 2017" Archive

Directors disqualified U/s. 164(2)(a) cannot apply for Name Availability

Directors disqualified under Section 164(2)(a) of the Companies Act, 2013 and who are associated with struck off companies (S.248) are advised not to make any application for Name Availability (INC-1), Incorporation of Companies (INC-7/SPICe-INC-32/URC-1/INC-12). Forms filed by such Directors shall be rejected summarily by the Central Reg...

Read More
Posted Under: Company Law |

FAQs on levy of GST on supply of services to Co-operative society

The society collects the following charges from the members on quarterly basis as follows: 1. Property Tax-actual as per Municipal Corporation of Greater Mumbai (MCGM) 2. Water Tax- Municipal Corporation of Greater Mumbai (MCGM)...

Read More
Posted Under: Company Law |

7 FAQs on accommodation services, casino entry fees, GST on horse racing, legal services etc.

a) Will GST be charged on actual tariff or declared tariff for accommodation services? b) What will be GST rate if cost goes up (more than declared tariff) owing to additional bed. c) Where will the declared tariff be published? d) Same room may have different tariff at different times depending on season or flow of tourists as per dynami...

Read More
Posted Under: Company Law |

ICAI President’s Message – September 2017

Goods and Services Tax (GST) regime has been rolled out. Though teething difficulties are being faced, I am confident that the Government will look into these and endeavour to sort them out. We at ICAI are giving feedback to the Government on the difficulties being faced....

Read More
Posted Under: Company Law |

Understanding Implications of Estate and Gift Tax

Sandeep Nerlekar, MD & CEO, Terentia Estate duty, inheritance taxes, or a combination thereof, are prevalent in quite a few developed nations, notably USA, UK, Switzerland, Germany and France. However, there is an equally long list of countries which do not levy estate or inheritance taxes, including nations like Australia, Singapore,...

Read More
Posted Under: Company Law |

50 GST FAQs on Composition, Exports, Invoice, Returns, Job Work & Levy

COMPOSITION Q.1 Whether a person can avail the composition scheme on Small Retail Trading of goods if he is holding both incomes like Sale of business: Rs. 25 lakh (Small Retail Trader) and Rental income: Rs. 12 lakh, whereas the person was registered earlier in VAT Composition Scheme and was paying Service Tax on rental income? [&hellip...

Read More
Posted Under: Company Law |

Release of duty drawback to exporters after implementation of GST

Public Noties No. 116/2017-JNCH (05/09/2017)

It has been decided that the exporters, who have filed the shipping bills between 01.07.2017 and 26.07.2017 while claiming the higher All Industry Rates (AIRs) under Duty Drawback Scheme viz. rates and caps available under column (4) and (5) of the schedule of All Industry rates of Duty drawback ...

Read More

Contract Labour (Regulation and Abolition) Central Amendment Rules, 2017

Notification No. G.S.R. 1128(E) (05/09/2017)

69. All wages shall be paid in current coin or currency notes or by cheque or by crediting the wages in the bank account of the workman: Provided that the appropriate Government may, by notification in the Official Gazette, specify the establishment or class of establishments, the employer of which shall pay to every workman employed in s...

Read More

MGST: Extension of due date for submission of GSTR-1, GSTR-2 and GSTR-3

Notification No. 27/2017-State Tax (05/09/2017)

No. JC(HQ)-1/GST/2017/Noti/18/ADM-8.—In exercise of the powers conferred by the second proviso to sub-section (1) of section 37, the first proviso to sub-section (2) of section 38 and sub-section (6) of section 39 read with section 168 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017)...

Read More

CBEC notifies extended due date for filing of GSTR Form- 1,2,3

Notification No. 29/2017–Central Tax (05/09/2017)

CBEC vide notification No. 29/2017 dated 5th September notifies the extended due date for Filing of Form GSTR-1, Form GSTR-2 and Form GSTR-3 for the month of July and August 2017 ...

Read More
Page 1 of 3123