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Archive: 23 May 2020

Posts in 23 May 2020

GST Series Part 5 | GST Composition Scheme | Section 10 | CGST Act 2017

May 23, 2020 40317 Views 1 comment Print

1. A simplified composition scheme has been provided; vide section 10 of CGST Act for small taxable persons who do not have sufficient knowledge and expertise to comply with the GST requirements relating to records and accounts. 2. The scheme is available to those whose aggregate turnover in the previous financial year did not exceed […]

Highlights of RBI Governor’s announcements dated 22.05.2020

May 23, 2020 1128 Views 0 comment Print

RBI extends the three-month moratorium The loan moratorium will be extended till August 31 2020. This makes it a six month moratorium Lending institutions are being permitted to restore the margins for working capital to the origin level by March 31, 2021

Path of Diminishing Marginal Utility: RBI Policy May 2020

May 23, 2020 732 Views 0 comment Print

Suyash Choudhary, Head – Fixed Income, IDFC AMC The monetary policy committee (MPC), reflecting the sign of times, had yet another out of policy meeting and delivered a 40 bps repo rate cut with commensurate changes to the rest of the rates in the corridor. In its assessment, the committee noted the further deterioration in […]

BSE SME Listing Eligibility Norms relaxed due to COVID-19

May 23, 2020 1143 Views 0 comment Print

Bombay Stock Exchange (BSE) vide notice no. 20200522-21 dated 22nd May, 2020 relaxed Eligibility Criteria for SMEs in view of Covid-19 Pandemic Situation with effect from June 1, 2020. It amends BSE circular dated 19th April 2012 related to eligibility criteria for companies seeking listing on BSE SME Platform as well as the guidelines for […]

Practical Insights on Drafting of Commercial Contracts

May 23, 2020 10140 Views 0 comment Print

Over the last decade, substantial quantum of commercial disputes opted for Alternative dispute resolution (ADR) than the litigation which incurs enormous time and whopping an average 39% cost of the claim value! It is obvious from the milestone amendments to the Arbitration and Conciliation Act 1996 to facilitate seamless remedy via ADR mechanism for the business community.

New Due Dates by MCA (Name Approval, Incorporation, Resubmission)

May 23, 2020 5151 Views 1 comment Print

Due to COVID 19 and Lock down situation in Country, Ministry of Corporate Affairs has given further relaxation for submission of forms by Companies/ LLP for following Matters: ♦ Name Approval ♦ Incorporation ♦ Resubmission of Forms Issue description  Period/Days of Extension New Due Date       1 Name Reservation Date for Incorporation of […]

Clarity finally delivered on long standing issue of Permanent Establishment exposure for Liaison Offices in India!

May 23, 2020 5571 Views 0 comment Print

Multi-National Companies (‘MNCs’) are allowed to set up their presence in India subject to the Foreign Direct Investment policy and other relevant regulations. One such presence that MNCs typically try to build is in the form of a liaison office (‘LO’) in India. Such offices are set up by foreign enterprises to understand the Indian market and to carry out certain pre-defined limited activities. For setting up an LO, necessary approval is required.

FAQs on conducting general meetings through VC during lockdown

May 23, 2020 10458 Views 0 comment Print

Background With the advancement of web-based facilities, the world is becoming technology driven to a very large extent. Connecting number of people virtually is not an unachievable or cumbersome task anymore.Although, in the past as well, MCA had come up its Circular on “Green initiatives in the Corporate Governance” in the year 2011[1] , providing […]

Areas Govt Ignored while announcing 20 Lac Cr Economic Package

May 23, 2020 1056 Views 0 comment Print

In 5 days long announcements for reforms & reliefs to Indian Economy, There are some of really good announcements. Like, 1 nation 1 ration card, Affordable rental housing under PMAY through PPP model, Rs. 5000 cr credit facility for street vendors, Extension of housing loan subsidy on affordable residential house for MIG worth Rs. 70000 […]

Transfer of Shares to IEPF | Section 125 | Companies Act 2013

May 23, 2020 5430 Views 9 comments Print

Company after transferring dividend to unclaimed suspense account shall file details of the amount transferred along with list of shareholders in form IEPF-1 within 30 days of such transfer

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