"02 March 2019" Archive

Construction Equipment Vehicles- Whether eligible for Input Tax Credit under pre-amended GST Laws

This article is confined to the blockade of input tax credit in respect of Motor vehicles and other conveyances. Whether the term “Motor Vehicle” under SGST Laws includes mining equipments such as tippers, dumpers etc. in its ambit?...

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Refund under Goods & Services Tax Tax (GST)

There are certain situations under which you can claim refund under GST law. Due to zero rates on Export, and inverted tax on certain supply, i.e. inward supply is taxed more than outward supply.  As per section 54(1) of CGST Act, 2017 Application for refund can be made before expiry of two years from the relevant date.  The procedures ...

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Summary of GST circulars, notifications & council decisions of Feb’19

The objective of this document is to summarize all the updates of GST (Notifications, Circulars, other amendments and updates) in one place. 2 Central tax notifications, 1 Integrated tax notification and 4 Central tax circulars were issued during the month Feb’19. And also the council has approved the new GST rates for the real estate [...

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Analysis of Section 165 of The Companies Act, 2013

SECTION 165 OF THE COMPANIES ACT, 2013 NUMBER OF DIRECTORSHIPS (1) No person, after the commencement of this Act, shall hold office as a director, including any alternate directorship, in more than twenty companies at the same time: Provided that the maximum number of public companies in which a person can be appointed as a […]...

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इनकम टैक्स रिटर्न्स फाइल करने पर मिलें ये नोटिस तो ऐसे दें जवाब

रिटर्न्स फाइल कर देने के बाद इनकम टैक्स डिपार्टमेंट की ओर से आपको नोटिस मिल सकता है। ऐसे में घबराने की बिल्कुल जरूरत नहीं है। आपको...

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Companies (Amendment) Ordinance, 2019: Section wise Summary

COMPANIES (AMENDMENT) ORDINANCE, 2019 The Companies (Amendment) Ordinance, 2018 received the assent of the President of India’s to bring into force amendments into the provisions of Companies Act, 2013 with effect from 2 November 2018. The ordinance is based on the recommendations of a committee which was formed with the objective of re...

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Mandatory disclosure of Significant Beneficial Ownership: Identify natural beneficial owner

Section 90 of the Companies Act 2013 substituted by a new set of law by the Companies Amendment Act, 2017 with the intent to identify Significant Beneficial Owner (SBO) in a company. The whole purpose of Sec 90 is to ensure that an artificial legal entity has a natural person who control its affairs. The […]...

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Mandatory Filing of Form DPT-3

E-Form DPT-3 is required to be filed pursuant to section 73 read with rule 16 of the of the  Companies (Acceptance of Deposits) Rules, 2014  MCA vide its notification dated 22nd January, 2019 notified Companies (Acceptance of Deposits) Amendment Rules, 2019, in which ‘sub–rule 3’ in Rule 16A is inserted to file e-form DPT-3 ...

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One Person Company (OPC) Registration

One Person Company (OPC) is a company which has only one person as member. OPC is a type of private company. Only a natural person, who is an Indian citizen and resident in India, shall be eligible to incorporate an OPC & shall be a nominee for the sole member of an OPC. An OPC […]...

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LLP Registration: Requirement, Documents, Procedure & Advantages

Article explains What is Limited Liability Partnership (LLP), Minimum Requirement to Start A LLP (Partners, Capital, Name), Documents Required For LLP Registration (ID and address proof of Partners, Stamp Paper etc.) , Procedure of LLP Registration and Advantage of LLP (Statutory and Taxation). What is Limited Liability Partnership (LLP) ...

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