Blocked Input Tax Credit under Section 17(5) The Goods and Services Tax Act, 2017, also known as the GST Act, is the consolidated legislation on indirect tax in India. The GST Act recognizes several concepts which are fundamental to the indirect tax regime in India. One such concept is input…
What is DIN and DIR 3? A unique Director Identification Number (DIN) can be obtained by any individual willing to become a director or partner in one or more companies to be registered with The Ministry of Corporate Affairs (MCA). Getting a DIN is a one-time process which can be…
Micro, Small and Medium Enterprise as per Micro, Small and Medium Enterprises Development Act, 2006 The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under Enterprises engaged in the manufacture…
MCA has come up with another stringent move by inserting a new Rule 25A under the Companies (Incorporation) Rules, 2014 under which a new form has been introduced and made available on MCA portal i.e. e-Form INC-22A (ACTIVE) What is the applicability of Form INC-22A (ACTIVE)? Every company incorporated on or before…
Introduction Every Company other than a Government Company shall file a one-time return of outstanding receipt of money or loan by a company but not considered as deposits, from 1st April, 2014 to the date of publication of this notification (i.e. 22nd January, 2019) in the Official Gazette, in e-form…
Also Read: Benefits of MSME Registration in India Introduction: Ministry of Corporate Affairs (MCA) vide notification number S.O. 5622(E), dated the 2nd November 2018 has directed that Every Company, whether public or private or OPC who gets supplies of goods or services from Micro and Small Enterprises and whose payments to Micro and Small…
ELIGIBILITY FOR GST COMPOSITION SCHEME: The registration under composition scheme is optional and voluntary. Businesses having a turnover LESS THAN Rs. 1.0 Crore* can opt for this scheme but on any given day, if the turnover crosses the above-mentioned limit, then he becomes ineligible for the same and has to take…
Due Date extended for filing PT Returns without late fee in Maharashtra Late fees are not…
Every Company registered under the Companies Act, 2013 or the Companies Act, 1956 is required to file their Financial Statements in e-Form AOC-4 including Directors Report along with other relevant attachments (Annual Report) and Annual Return in e-Form MGT-7 within 30 days and 60 days respectively from conclusion of its Annual General Meeting (AGM). All…