MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. Therefore, to support and promote MSMEs, the Government of India through various subsidies, schemes, and incentives promote MSMEs through the MSMED Act. To avail of the benefits under the MSMED Act from the Central or […]
Blocked Credit {Sec.17 (5) of CGST Act, 2017} Introduction:- Though the idea behind implementation of GST is free flow of tax credit, input tax credit is not available in respect of certain inward supply of goods or services as per Section 17(5) of the CGST Act, 2017. {Sec.17 (5)} Cases where ITC is not available:- […]
Applicable Provisions 1. Section 3(1)-Private company should have two or more person as a subscriber. 2. Section 149(1)-Private Company should have minimum 2 directors and maximum 15 directors Proviso of 149(1)(b) a company can appoint more than 15 directors by passing special resolution. 3. Section 12(1)-Every company should have registered office within 30 days from […]
Compliance Calendar of Listed Companies – Quarterly, Half Yearly, Annually & General Compliances The Companies which are listed on stock exchanges has to mandatorily comply with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2018 or SEBI (LODR). In this article, we shall discuss about the quarterly / half yearly […]
PROCEDURE FOR CONVERSION OF PUBLIC COMPANY INTO PRIVATE COMPANY (Section 13 and 14 of the Companies Act, 2013 Read with Rule 41 of Companies (Incorporation) Rules, 2014) Step-1 Hold a Board Meeting: > To obtain the approval for conversion of Public Company into Private Company. > To make amendments in MoA and AoA subject to […]
Almost any businessman wanting to start a business in the United States of America would invariably enquire the name of the state which would offer him the most business-friendly atmosphere. This aptly ensures the name of Delaware, U.S.A., like the one of legal home to one million businesses that hold its licenses. “What is so […]
SEBI (Prohibition of Insider Trading) Regulations, 2015 The listed entity has to ensure that they adhere to the policy of Insider Trading at all times. In these days we witness no.of such cases pertaining to the involvement of Senior Management personnel itself. The defenses mechanism adopted by the violator is ignorance of policy in place. […]
When we talk about a company, Board of directors of company are important persons who are responsible for operating a business operation of company. Accordingly, there are different types of directors whose role differs from one to another. Let us go through different types of director with their other aspects. Before that we need to […]
In this article, we have attempted to ask whether Rule 41A, inserted in CGST Rules vide notification no 03/2019 dt 29/01/2019 wef 01/02/2019, is an instance where the Rule has been prescribed and made operational even though no section seeks to prescribe it. Section 18(3) prescribes that ITC can be transferred from one firm to […]
The moot question arises, whether supply or sale of developed or plotted land is liable to GST? Before proceeding to discuss about GST liability of developed land, it is better to discuss taxability of land in pre-GST regime.
