The issue has been examined and it is hereby clarified that loans and/or advances made by the companies to their employees, other than the managing or whole time directors (which is governed by section 185) are not governed by the requirements of section 186 of the Companies Act, 2013. This clarification will, however, be applicable if such loans/advances to employees are in accordance with the conditions of service applicable to employees and are also in accordance with the remuneration policy, in cases where such policy is required to be formulated.
The option of entering the manual return(s) prior to Financial Year 2012-13 & downloading the Central Forms has been removed for administrative reasons to check it’s misuse. The facility for downloading such forms after obtaining the approval concern ward incharge as being done in the past shall be provided by 15-Feb-2015.
In case the dealer has wrongly deposited the Tax in wrong TIN/TAN, a front end module has been developed to redress such issues. In this module, the dealer (in whose accounts the payment has been deposited) shall apply online for transfer of such payment to correct TIN
The dealers/persons/employers, hereinafter referred to as the applicants, desirous of seeking registrations under the Maharashtra Value Added Tax Act (MVAT), Central Sales Tax Act (CST) and the Profession Tax Act (PT) need to make online applications under the relevant Act. These applications are required to be made separately. After successful uploading of the application the applicant is required to visit the registering authority for the purpose of certain verification and submission.
Banks are advised that in cases of projects sponsored by Government/Statutory Authorities, they may disburse the loans as per the payment stages prescribed by such authorities, even where payments sought from house buyers are not linked to the stages of construction, provided such authorities have no past history of non-completion of projects.
It is gathered that a majority of new investors in the securities market begin with participation in the cash segment without obtaining various other facilities such as internet trading, margin trading, derivative trading and use of power of attorney.
This Ministry has received several representations about the difficulties faced by stakeholders due to deactivation of Digital Signature Certificate (DSC) following en masse resignation of all the directors of a company before appointment of new directors in their places.
Attention is invited to Circular No. 994/01/2015 dated 10.02.2015 on the above subject. Reference has since been received from DGCEI regarding the difficulties in implementing the instructions .The issue has been examined and it has been decided to substitute paragraph 5 of the said Circular dated 10.02.2015
Attention is invited to Circular No. 988/12/2014-CX dated 20.10.2014 issued from F. No. 267/49/2013-CX.8 on the above subject wherein it was clarified that the place of removal needs to be ascertained in terms of provisions of Central Excise Act, 1944 read with provisions of the Sale of Goods Act, 1930 and that payment of transport, payment of insurance etc are not the relevant considerations to ascertain the place of removal.
In cases where a complaint has already been filed in the court, it will be upto the court to decide whether or not to pursue prosecution in terms of Section 257 and 321 of Cr. P.C. 1973. If the order for withdrawal has been given by a court, the prosecution can be withdrawn by the Assistant Collector after getting a formal order from the Principal Collector.
