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Archive: 01 April 2021

Posts in 01 April 2021

Rule 6 of Cenvat Credit Rules applicable only to Manufactured Goods

April 1, 2021 2286 Views 0 comment Print

Sundaram Packaging India Pvt.Ltd Vs Commissioner of Customs, CGST & Central Excise (CESTAT Delhi) Scope of Rule 6 is still with respect to the inputs/inputs services used in or in relation to the manufacture of exempted goods along with manufacture of non-exempted goods. Hence, irrespective, exempted goods include non-excisable goods in view of the amendment […]

Master Circular on SHG-Bank Linkage Programme

April 1, 2021 1396 Views 0 comment Print

The Reserve Bank of India has, from time to time, issued a number of guidelines/instructions to banks on SHG-Bank Linkage Programme. In order to enable the banks to have instructions at one place, a Master Circular incorporating the existing guidelines/instructions on the subject has been updated and enclosed.

Master Circular–National Rural Livelihoods Mission (DAY-NRLM)

April 1, 2021 2866 Views 0 comment Print

Please refer to the Master Circular FIDD.GSSD.CO.BC.No.09/09.01.01/2015-16 dated July 30, 2015 consolidating guidelines / instructions / directions issued to banks with regards to National Rural Livelihoods Mission.

Master Circular – Lead Bank Scheme

April 1, 2021 1753 Views 0 comment Print

The genesis of Lead Bank Scheme (LBS) can be traced to the Study Group headed by Prof. D. R. Gadgil (Gadgil Study Group) on the organizational framework for implementation of the social objectives, which submitted its report in October 1969. The Study Group drew attention to the fact that commercial banks did not have adequate presence in rural areas and also lacked the required rural orientation.

No penalty on both organisation & office bearers for same omission

April 1, 2021 702 Views 0 comment Print

Sikar Ex-Serviceman Welfare Co-operative Society Ltd. Vs Commissioner Central Excise and Service Tax (CESTAT Delhi) The final submission of appellant is that once the penalty has been imposed upon an organisation, simultaneous imposition of penalty on the office bearers thereof, is not sustainable. We observe in view of the definition of company in Section 3 […]

Meeting of Committee of Creditors under IBC

April 1, 2021 47568 Views 2 comments Print

The Committee of Creditors will play very important role in the regime of the insolvency. The important decisions which will affect the resolution of the insolvency of the corporate debtor will be taken by the Meeting of the Committee of Creditors in short it is also called as COC. Generally as per IBC, the COC […]

Filing of Form CSR-1 with MCA for Getting CSR Funding

April 1, 2021 35301 Views 17 comments Print

Dear friends, after the publication of my earlier article related to Form CSR-1 with the heading Mandatory Registration of NGO with MCA for Getting CSR Funding, I receive lot of queries related to due date of filing of Form CSR-1 and availability of Form CSR-1 on MCA Portal. Please note that, as per guidelines issued […]

Using of Accounting Software having audit trail feature

April 1, 2021 10371 Views 0 comment Print

The Ministry of Corporate Affairs, Government of India, issued notifications dated 24th March, 2021 to amend Companies (Accounts) Rules, 2014 to enhance the disclosures required to be made by the Company in Board Report; Purpose of Amendment: By these amendments MCA increasing stringency in compliances and adding numerous additional disclosures in Financial Statement, Directors Report […]

Amendment In Schedule III under Companies Act 2013

April 1, 2021 191487 Views 6 comments Print

The Ministry of Corporate Affairs, Government of India, issued notifications dated 24th March, 2021 to amend Schedule III to the Companies Act, 2013 to enhance the disclosures required to be made by the Company in its Financial Statement. Purpose of Amendment: By these amendments MCA increasing stringency in compliances and adding numerous additional disclosures in Financial […]

Latest Amendment in Auditors Report under Companies Act 2013

April 1, 2021 35292 Views 0 comment Print

The Ministry of Corporate Affairs, Government of India, issued notifications dated 24th March, 2021 to amend Companies (Audit and Auditors) Rules, 2014 to enhance the disclosures required to be made by the Company in its Audit Report. Purpose of Amendment vide Companies (Audit and Auditors) Amendment Rules, 2021: By these amendments MCA increasing stringency in compliances […]

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