You are well aware that the companies are required to make certain disclosures pertaining to the vendors registered under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. However, we would like to marmorise flashback of changes made in the MSMED Act and requirement of Form MSME-I. In exercise of powers conferred by Section […]
Schedule II of the CGST Act talks about activities or transactions to be treated either as a supply of good or supply of service. There are some certain activities or transaction which led to confusion whether they are supply of goods or supply of service. The matters listed out in Schedule II are primarily those […]
The Government issue various ordinances which become the law for time being in force. However, there is, mostly, confusion in the mind that for what time the ordinance will remain in force. Whether it will remain in force for six weeks or six months.? Now, in this Article, we will discuss the Ordinance making power […]
New criteria for classification of Micro, Small and Medium Enterprises – GAZETTE NOTIFICATION – 26th June, 2020 The Government has always been in favor of providing benefits to Micro, Small and Medium Enterprises (MSMEs). There are many benefits of MSME registration in India, which can be only availed if the business had registered itself as […]
DPT–3 form is the statement return which is required to be filed by every company other than a Government Company and a class of company specify, which has accepted deposits under section 73 of the Companies Act, 2013 (‘Act’) and rules made thereunder. Generally, every amount accepted from public (including members) is treated as public […]
[IN CASE OF ISSUE AND TRANSFER OF SHARES] When an owner of Unquoted equity shares(“Shares”) in a Company transfers the shares to any person, he is required to pay Capital Gain tax on the difference between the sale consideration received by him and the cost of acquisition of such shares (or the inflation indexed cost, […]
[MCA General Circular No. 23/2020 dated 17 June, 2020] You are well aware that Ministry of Corporate Affairs (MCA), vide General Circular No. 12/2020, dated 30/03/2020, has come out with a Companies Fresh Start Scheme, 2020 forproviding relaxation in time for several forms. However, the benefit of waiver of additional fees, under the Companies Fresh […]
[MSME Notification No. S.O.2119 (E), dated the 26th June, 2020] Ministry of Micro, Small and Medium Enterprises (MSME) has come out with a Consolidated Notification No. S.O.2119 (E), dated the 26th June, 2020 (referred as “said notification”)in the form of guidelines for classification and registration of MSMEs to be effected from July 1, 2020. In […]
Activity of Developing The Land Is A Supply of Service Under GST- An Advance Ruling From Karnataka Authority in the case of Maarq Spaces Private Limited vide Advance Ruling No. KAR ADRG 119/2019 dated 30.09.2019. Advance ruling is upheld by AAAR vide Order No. KAR/AAAR-19/2020-21 dated: 04/05/2020. It has come into knowledge that an application […]
It is important to note that the industry was waiting for definition change in MSME for quite a long time. As there was fear among MSME that if they grow in terms of number, they might lose the title of being MSME and lose benefits of Government provided for MSME.
