A. Incorporation of Company: At the time of incorporation of the company, declaration by each subscriber will be required to be attached instead of an affidavit, as currently provided. B. Register Office: The company shall within 30 days of its incorporation have registered office instead of current requirement to have registered office on and from the fifteenth day of its incorporation.
Highlights of some Major Relaxation under Companies Act, 2017 to make it- Business Friendly- Apart from KMP and any officer of the Company, an employee can also be authorised to authenticate documents on behalf of the Company.
Lesser Penalties for One Person Company or Small Companies: Under Companies Act, 2013 there are no provision in respect of lesser penalty on any kind of Company. Penalties are same on all type of Companies irrespective of their Capital, turnover etc.
It is obvious that the appeals should be listed on the judicial side, even if, there is an issue or debate with regard to the territorial jurisdiction of the Tribunal. Such matters cannot be decided on the Administrative side, by the Registry of the CESTAT, even when it is of the opinion that the appellants have not approached the right or correct Bench of the Tribunal having territorial jurisdiction.
With an objective to enable the investors to compare the performance of a Mutual Fund scheme vis-à-vis an appropriate benchmark, it has been decided that:
Clarifications regarding levy of GST on accommodation services, betting and gambling in casinos, horse racing, admission to cinema, homestays, printing, legal services etc. – Reg.
Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by a Person resident Outside India) Regulations, 2017
RBI permits the overseas branches/subsidiaries of Indian banks to refinance ECBs of highly rated (AAA) corporates as well as Navratna and Maharatna PSUs, provided the outstanding maturity of the original borrowing is not reduced and all-in-cost of fresh ECB is lower than the existing ECB. Partial refinance of existing ECBs will also be permitted subject to same conditions.
Notification No. 1/2018 – Customs (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.118/2017-CUSTOMS (N.T.), dated 21st December, 2017
The Reserve Bank of India had constituted an inter-departmental Task-force in December 2014, to provide “harmonised” definitions of major balance sheet/ profit and loss/ off-balance sheet items covered in the banking/ regulatory returns received across RBI departments.
