It is very much important to know the concept of ‘Time of Supply’ to know when the taxpayer is required to discharge tax on a particular supply. Section 12 to 14 of CGST Act, 2017 deals with the provisions of ‘Time of supply’. It says time of supply is determined with reference to the time […]
Certificate of Commencement of Business Prior to Companies Act, 2013, a private company or public company not having share capital was not required to obtain the certificate of commencement of business, only a public limited company having share capital was required to obtain the certificate of commencement of business. In 2013, MCA came up with […]
Casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business. A casual taxable person does not have fixed place of business. The person can act as principal, agent or in any other capacity, in a State or a Union territory […]
Financial statements are one of the most important written records which give a true and fair view of the state of affairs of the company and which shows the financial performance of the company. Before proceeding further, let’s first understand, what Financial Statements are: The term Financial Statement is defined under CA, 2013 under Section […]
Transfer and Transmission, these two words sound so similar. But there meaning as per Companies Act, 2013 is altogether different. In this write up, we will discuss in detail about Transfer and Transmission of Securities. Transfer of securities An intentional transfer of securities from one party to another party is known as transfer of securities […]
In this write up we will discuss about rules w.r.t. marketplace e-commerce entity. In my last article we had discussed about how the new rules have affected the e-commerce entities. You can refer the article below for more details: https://taxguru.in/corporate-law/rules-e-commerce-entities.html Before moving further, let us first understand what marketplace e-commerce entity is. It means an […]
The Central Government recently issued a notification dated 23rd July 2020 for e-commerce players making online retailers more accountable and their businesses more transparent under the Consumer Protection (E-Commerce) Rules, 2020. In this write-up, we will discuss about the duties of e-commerce entities as per the new e-commerce rules. Applicability: (a) all goods and services […]
FLA is Return on Foreign Liabilities and Assets which is governed by FEMA, 1999. The RBI has started a web-based system online reporting portal – Foreign Liabilities and Assets Information Reporting (FLAIR) for submission of foreign liabilities and assets (FLA) return. Applicability of FLA return Following entities are required to file for FLA return: > […]
Corporate Social responsibility (CSR) is continuing commitment by businesses to integrate social and environmental concerns in their business operations. India became the first country to legislate the need to undertake CSR activities and mandatorily report CSR initiatives under the new Companies Act 2013. Prior to Companies Act 2013, CSR in India has traditionally been seen as a philanthropic activity. And in […]
Insights of Rule 9A and e-Form PAS-6 It is mandated for all the unlisted Public companies (except a Nidhi Company, a Government Company and a Wholly owned subsidiary Company) to issue the securities in dematerialised form only, vide its notification dated 10th September 2018, wherein Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014, was […]
