Accounting Conventions :– Accounting conventions are certain guidelines for complicated and unclear business transactions, though it is not compulsory or legally binding, however, these generally accepted principles maintain consistency in financial statements. While standardizing financial reporting process these conventions consider comparison, relevance, full disclosure of transactions, and application in financial statements. These are developed from […]
Guidance on termination of employees. Legal reference: a) Industrial Dispute Act, 1947 (IDA) b) Industrial Relations Code, 2020 (IRC) I. INDUSTRIAL DISPUTE ACT, 1947 Pursuant to relevant provision of the IDA, where any employer discharges, dismisses, retrenches, or otherwise terminates the services of an individual workman, any dispute or difference between that workman and his […]
Approval of the model of imported goods under Legal Metrology is of two ways which include services for Non-Weight and Measuring instruments under which the registration of Packer or manufacturer is done and the registration for Legal Metrology packed commodities certificate is covered for the importer. Then another type of approval and services are for […]
Nidhi (Amendment) Rules, 2022-Fresh Legal Web Spinned For Nidhi Companies With the advent of Nidhi (Amendment) Rules, 2022 made effective from 19th April, 2022, yet another set of new legal compliances have been imposed on Nidhi Companies by the Ministry of Corporate Affairs ( MCA ) in wake of the rising frauds and mis-deeds of […]
For every private company after incorporation must be done the post incorporation compliance as per companies act and other relevant acts. Here the author discusses only those compliance which are performed initial by the company from the incorporation. The compliance are divided into three parts first is mandatory, miscellanies and event base compliance. Here the […]
The Central Government hereby makes the following rules further to amend the Limited Liability Partnership Rules, 2009, namely: – (1) These rules may be called the Limited Liability Partnership (Amendment) Rules, 2022. (2) They shall come into force with effect from the 01st April, 2022. (3) All LLPs registered under Limited Liability Act, 2008 have […]
Key Managerial Personnel (also known as KMP) refers to the whole time employees of the company who are vested with the most important roles and responsibilities of the company. The Key Managerial Personnel monitor and achieve the goals and objectives targeted by the Board of Directors of the Company. The definition of KMP is given […]
Removal of Denied Entity List (DEL)? a) If an Authorization holder violates any condition of such Authorization or fails to fulfill export obligation, or fails to deposit the requisite amount within the period specified in demand notice issued by Department of Revenue and /or DGFT, he shall be liable for action in accordance with FT […]
Understanding the Trust Deed Format for Charitable Medical Teaching Institutes. Learn about the legal requirements and regulations for setting up a charitable trust in the medical field.
E-Invoice or electronic Invoice is a system in which B2B/ Credit Note/ Debit Note & Exports Invoices are authenticated electronically by GSTIN portal. Said Invoices are transmitted to GSTIN portal & an Identification Number will be issued against the Invoice which is known as ‘Invoice Reference Number’ or ‘IRN’ Number.
