Issue involved: Remuneration paid to director to attract GST under RCM. Rajasthan bench of the AAR in the case of Clay Craft India Pvt. Ltd Fact of the case: M/s Clay Craft India Pvt. Ltd is already paying GST by way of RCM on the commission paid to its Director. It filed an application before […]
1. Recent Advance Ruling Orders on whether GST is payable (under Reverse Charge) on remuneration payable to Directors? Recently Rajasthan Authority for Advance Ruling in the case of M/s Clay Craft India Pvt Ltd (Jaipur) (Order No RAJ/AAR/2019-20/33 dated 20th February, 2020) held that remuneration payable to Directors is taxable and liable to GST under […]
CSR in COVID-19- A Ready Referencer Corporate Social Responsibility (CSR) can be understood as a Company’s responsibility towards the society, the environment and the community within which it operates. There are various ways in which a Corporate fulfils its CSR obligations as mandated by law. At present, CSR is not seen merely as a charity […]
1. Public Issue of Shares: The company can raise a substantial amount of fixed capital by issue of shares- equity and preference. In India, however, equity shares are more popular as compared to preference shares. The issue of shares requires a number of formalities to be completed such as approval of prospectus by S.E.B.I., appointment […]
Executive Summary of MCA Clarification on passing of Ordinary and Special Resolutions by Companies through Video Conferencing (VC) or other audio visual means (OAVM) Condition: (i) When holding of EGM is unavoidable (not applicable to AGM) (ii) Items except Ordinary Business and items where any person has a right to be heard (iii) When passing […]
Due to the unprecedented COVID-19 situation at present, GST return filing due dates has been revised in order to give relation to tax payers. The details are being attached for your reference. Amendment in GST Due dates Sr. No Tax Payer Return Type Tax Period Regular Due Dates Revised Due Dates Interest Late Fees & […]
Brief bullet points on Companies (Amendment) Bill, 2020, As introduced in Loksabha on 17th March 2020 This is 4th amendment after 2015, 2017 & 2019. 66 sections has been proposed to be Amended. Out of 66 amendments , 45 amendments are for Di-criminalization of penalty provisions as companies act is a civil law. Some penalty […]
1. The Last date of filing MSME-1 for the half year ended 31st March 2020 (October 2019- March 2020) is 30th April 2020 unless extended by MCA considering present prevailing situations. This is applicable to all specified companies. 2. NIL returns not required to be filed as the form MSME-1 will not capture “ ZERO” […]
MCA vide general circular no 11/2020 has Introduced following special relief, relaxation and immunities to Companies and LLPs: – Particulars Relaxations 1. No Additional fee for late filing:- In order to support Co. & LLPs, MCA vide its circular, has announced that no additional fee shall be charged from 1st April, 2020 to 30th September, […]
Clarification on passing of ordinary and special resolutions by the Companies Under Companies Act, 2013/ Holding of Extra-Ordinary General Meeting Through Video Conferencing Holding of Extra-Ordinary General Meeting Through Video Conferencing MCA vide its general circular dated 8th April, 2020 has given its clarification on passing of ordinary and special resolutions by the Companies Under […]
