Incentive Schemes for Manufacturing of Electronics/Electronics Components/Semiconductors The Ministry of Electronics and Information Technology has issued notifications on 01 April 2020 to introduce two incentive schemes for companies engaged in the manufacture of electronic products. 1. Production Linked Incentive (‘PLI’) Scheme – This scheme focuses on providing incentives of 4% to 6% on incremental sales […]
What is the significance of Board Meeting? With reference to Companies registered in India, conducting a Board Meeting is mere compliance of law by word and not by the spirit of it especially where family members are on the Board. From a business point of view taking decisions is very important for running the business […]
Relief Measures for Compliances under GST Laws in the time of Covid-19 Pandemic The Central Government, in its fight against a life threatening Covid-19 pandemic in India and other many countries, has recently eased certain compliances under GST laws which are aimed at to provide relief to the trade and Industry in this tough period. […]
The requirement of Audit Committee as per sub section (1) of section (177) of the Companies Act, 2013 has been limited to 1. Every Listed Public Company. 2. The Following Class of Companies All public companies with a paid-up share capital of Rs. 10/- crores or more; or. All public companies having turnover of Rs. 100/- […]
Denial of Input tax credit on the ground that invoice bears handwritten serial number is Correct ? Issue involved: Whether denial of Input tax credit by adjudicating officer is correct or not, on the ground that invoice bears handwritten serial number: CESTAT Krupa Trading Company Vs C.C.E. & S.T. (CESTAT Ahmadabad) Fact of the case: […]
Recently CBIC has release following Notifications which provided relaxation to GST Taxpayers which are Part of Covid 19 Relief Measures – Notification No. 30/2020- No 110% Restriction for Returns of February 2020 to August 2020 Notification No: 31/2020 and 32/2020: Rate of Interest and Late fees for delayed filing of GSTR-3B Notification No 33/2020: No […]
Akansha Tulsyan Analysis of Recent Notifications & Circulars issued on 3rd April 2020. (Effective from 20th March 2020) Notification No. 30/2020- No 110% Restriction for Returns of February 2020 to August 2020 A Provision has been inserted under Rule 36(4) to provide that the said condition shall apply cumulatively for Period February 2020 to August […]
Companies will have to pay GST on the remuneration they dole out to directors, the Authority for Advance Ruling (AAR) has said. In an application filed before the Rajasthan bench of the AAR, Clay Craft India Pvt Ltd had sought clarification on whether salaries paid to directors would attract Goods and Services Tax.
It has almost been a decade that LLP Act came into existence. Those business owners who were forming Partnership before are now choosing LLP due to many benefits like a legal entity in the eyes of law, corporate structure and less compliance. Let us now understand how to incorporate an LLP? Applicable Forms RUN LLP: […]
Director is an employee of the Company. So often they wonder what is their personal liability. Here I list down few things which you should always keep in mind. Ensure that all the annual compliance is done: As you all would be aware, if directors do not get the annual compliance of Company done with […]
